February 6, 2018 / 6:20 AM / 17 days ago

Swedbank Q4 net profit tops forecast

STOCKHOLM, Feb 6 (Reuters) - Swedish bank Swedbank reported a bigger than expected rise in fourth-quarter net earnings on the back of stronger commission and interest income, and said it welcomed a recent slowdown in the Nordic country’s housing market.

Net profit rose to 4.74 billion Swedish crowns ($594 million versus a mean forecast 4.62 billion in a Reuters poll of analysts and compared with 4.15 billion in the year-ago period.

The bank proposed a dividend of 13.00 crowns per share for 2017, down from 13.2 crowns in 2016 but slightly higher than the expected 12.9 crowns. That corresponded to 75 percent of profit, in line with the banks financial target.

$1= 7.9801 Swedish crowns Reporting by Johan Ahlander; editing by Niklas Pollard

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