Handelsbanken Q2 profit falls 5% as lower interest income weighs By Investing.com

Investing.com– Swedish lender Svenska Handelsbanken () reported a fall in second-quarter profit on Wednesday as lower net interest income outweighed higher fee income.

Net profit fell 5% to 5.23 billion Swedish crowns in the April-June quarter from 5.49 billion crowns a year earlier.

Operating profit declined 6% to 6.68 billion crowns, while earnings per share slipped to 2.60 crowns from 2.77 crowns.

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Total income fell 2% to 13.46 billion crowns as net interest income declined 7% to 10.01 billion crowns, reflecting lower market rates.

Net fee and commission income rose 9% to 3.14 billion crowns, supported by higher asset management, insurance and payment commissions, while net gains on financial transactions improved to 116 million crowns from a loss of 64 million crowns a year earlier.

Chief Executive Michael Green said lending volumes increased during the quarter, led by the UK and the Netherlands, while household lending in Sweden also grew.