Swedbank reported a 9% decline in second-quarter profit on Friday, as higher expenses and credit impairments outweighed growth in income.
Net profit a the Swedish banking group fell to 7.2 billion Swedish kronor ($746.4 million), or 6.37 kronor per share, from 7.89 billion kronor, or 6.99 kronor per share, a year earlier.
Pre-tax profit declined to 9.15 billion kronor from 10.02 billion kronor in the same period last year.
Total income rose 7% to 18.10 billion kronor from 16.96 billion kronor, driven by higher net interest income and net commission income.
Net interest income increased to 11.28 billion kronor from 10.91 billion kronor a year earlier, while net commission income climbed 7% to 4.46 billion kronor from 3.90 billion kronor.
