Swedbank’s net profit in Estonia for the first nine months was €279 million, which is lower but within range of the same period in 2023.
Swedbank’s net profit in Estonia for the first nine months of 2023 was €322 million.
“The third quarter was strong and stable for Swedbank,” said Olavi Lepp, CEO of Swedbank AS.
The loan volumes for Swedbank’s private customers grew by 4 percent over the year, while business customer loans increased by 6 percent. Deposits rose by 7 percent. In the first nine months of the year, the bank issued new loans to private individuals totaling €763 million and to businesses €952 million.
The bank’s total revenues decreased by €11 million due to reduced interest income. Net interest income fell by €22 million, mainly driven by higher deposit interest rates and lower loan margins.
More read: ERR.EE