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STOCKHOLM, July 12 (Reuters) - Swedish banking group SEB reported on Monday a higher-than-expected rise in second-quarter operating profits as its core income topped forecasts and said business sentiment had strengthened in the quarter.
SEB’s operating profit in the quarter rose to 4.78 billion Swedish crowns ($703 million), well above a mean forecast for 3.97 billion in a Reuters poll and compared with 3.72 billion in the year-ago period.
Return on equity in the quarter was 14.0 percent.
“All in all, we see a cautiously more positive business sentiment among our customers with activity levels picking up,” CEO Annika Falkengren said in a statement. (Reporting by Mia Shanley)