0800 GMT - Swedbank's better-than-expected profit in the third quarter and expectations for costs could trigger increases to consensus estimates, JPMorgan analysts say in a research note. The Swedish lender expects costs in the second half to be broadly in line with the first half excluding foreign-exchange effects. This came alongside a better-than-expected net profit that reflected good net interest income, fee income and costs, JPM says. Net interest income is the difference between what banks earn and pay on interest rates. As a result, consensus expectations on Swedbank's net profit could be increased by a mid single-digit percentage, according to JPM. Shares jump 5.2%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 04:01 ET (08:01 GMT)
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