July 17, 2018 / 5:21 AM / a month ago

Swedish bank SEB Q2 profit tops forecast

STOCKHOLM, July 17 (Reuters) - Swedish bank SEB reported a bigger than expected rise in operating earnings for the second quarter on Tuesday on the back of a broad rebound in activity among its corporate customers.

Operating profit at Sweden’s fourth biggest bank by market capitalisation rose to 10.7 billion crowns ($1.22 billion) from a year-ago 5.7 billion to beat a mean forecast of 10.1 billion in a poll of analysts.

Earnings as well as analysts’ estimates were bouyed by previously flagged one-off capital gains totalling 4.5 billion crowns from the sales of SEB’s Danish pensions arm and a stake in credit reference agency UC. ($1 = 8.8043 Swedish crowns) (Reporting by Niklas Pollard)

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