April 25, 2017 / 5:11 AM / 7 months ago

Swedbank Q1 net profit beats forecast

STOCKHOLM, April 25 (Reuters) - Swedish banking group Swedbank reported first-quarter net earnings above market expectations on Tuesday as macroeconomic conditions continued to improve both at home and abroad.

“Growth is broad-based in our home markets with a positive outlook,” Swedbank CEO Birgitte Bonnesen, said in the report. “Domestic spending is strong and exports are increasing in the wake of more robust global economic conditions.”

Net profit rose to 5.12 billion Swedish crowns ($578 mln), above a mean forecast for 4.95 billion in a Reuters poll of analysts and compared with 4.31 billion in the year-ago period. ($1 = 8.8710 Swedish crowns) (Reporting by Johan Ahlander; editing by Niklas Pollard)

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