Swedbank’s Lending Profit Beats Estimates on Lower Funding Costs

Swedbank AB’s first-quarter profit from lending slightly exceeded estimates, helped by lower deposit rates and funding costs.

Net interest income for the three months through March fell 9% from a year ago to 11.5 billion kronor ($1.2 billion), the Stockholm-based lender said on Tuesday. Analysts tracked by Bloomberg had forecast that the metric, which captures the difference the bank earns from lending and pays for deposits, would come in at 11.4 billion kronor.