April 30, 2018 / 5:13 AM / 25 days ago

SEB Q1 operating profit lags forecast

STOCKHOLM, April 30 (Reuters) - Swedish banking group SEB reported first-quarter operating profit below market expectations on Monday as cautious corporate customers and a seasonal slowdown hampered earnings.

SEB’s operating profit in the quarter fell to 5.26 billion Swedish crowns ($607 million) lagging a mean forecast for 5.48 billion in a Reuters poll and compared with 5.53 billion in the year-ago period. ($1 = 8.6622 Swedish crowns) (Reporting by Johan Ahlander; editing by Niklas Pollard)

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