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Handelsbanken books YOY drop in Q2 net loan losses


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Handelsbanken books YOY drop in Q2 net loan losses

Svenska HandelsbankenAB (publ) reported second-quarter group profit attributable to shareholdersof 4.19 billion Swedish kronor, or 2.15 kronor per share, compared to 4.17 billionkronor, or 2.14 kronor per share, in the year-ago period.

Net interest income for the period declined on a yearly basisto 6.81 billion kronor from 7.02 billion kronor; net fee and commission income droppedto 2.28 billion kronor from 2.36 billion kronor.

Net gains on financial transactions rose to 523 million kronorfrom 451 million kronor a year ago. The result included capital gains of 81 millionkronor relating to the saleof the lender's shares in Visa Europe.

Net loan losses decreased to 229 million kronor from the year-ago359 million kronor.

ROE for total operations stood at 14.2% in the second quarter,compared to 14.5% a year ago.

For the first half, attributable profit rose year over year to8.24 billion kronor from 8.08 billion kronor.

The common equity Tier 1 ratio under CRD IV stood at 23.0% atJune-end, compared to 22.7% at the end of March and 21.2% at 2015-end.

As of July 14, US$1 was equivalent to 8.49 Swedish kronor.