The Swedish banks increased their profits in 2024, according to the Financial Supervisory Authority's (FI) new bank report. However, the three major banks, SEB, Handelsbanken, and Swedbank, reported lower profits as a result of increased administrative costs and lower net interest income, which is what the banks earn from lending and borrowing.
Instead, it was an increasing provision net that held up the result, i.e. what the banks charge in the form of various fees, such as on cards and fund management, for example.
During the second half of the year, the three major banks (Nordea is counted as a Finnish bank) continued to lose market shares to primarily mortgage banks, according to FI.
