SEB, Swedbank Lending Profit Beats as Corporate Volume Grows

Swedish lenders SEB AB and Swedbank AB reported profit from lending in the first quarter that topped estimates amid growth in corporate lending volumes.

SEB said net interest income fell an annual 6% to 10.24 billion Swedish kronor ($1.1 billion), a smaller decline than envisaged by analysts, who had estimated 10.1 billion kronor on average for the metric in a Bloomberg survey. Swedbank’s NII fell 3% from a year ago to 11.15 billion kronor, compared with the 10.86 billion-krona average analyst estimate.