Swedish Banks Face Multiple Net Interest Income Headwinds -- Market Talk
1218 GMT - Swedish banks face peak net interest income pressure in the first quarter, with Swedish policy rates 60 basis points lower than the fourth quarter and ECB rates 50 basis points lower, HSBC says. Added pressure comes from adverse foreign exchange, a higher Stockholm Interbank Offered Rate, fewer days than in the last quarter, and weaker deposit flows. HSBC downgrades Handelsbanken to hold from buy and lowers its target to 115 Swedish kronor from 145.00 kronor. It also downgrades Swedbank to hold from buy and lowers its target to 230 kronor from 285 kronor. It keeps SEB at hold but trims its target to 170 kronor from 175.00 kronor and also keeps Nordea at hold while trimming its target to 11.40 euros from 11.20 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 08:18 ET (12:18 GMT)
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