October 24, 2013 / 5:17 AM / 4 years ago

SEB Q3 op profits, credit quality beat forecast

STOCKHOLM, Oct 24 (Reuters) - Swedish banking group SEB reported on Thursday a bigger-than-expected rise in third-quarter operating profits as it beat forecasts on most income lines and credit quality improved.

SEB’s operating profit in the quarter rose 20 percent to 4.87 billion Swedish crowns ($763.39 million), topping a mean forecast for 4.20 billion in a Reuters poll and compared with 3.86 billion in the year-ago period.

“During the third quarter, we saw increasing activity on the corporate side and despite a continued high level of economic uncertainty globally, the corporate community showed emerging optimism,” said SEB CEO Annika Falkengren.

$1 = 6.3794 Swedish crowns Reporting by Mia Shanley

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