Net interest income, which SBAB earns from the difference between deposit and lending rates, fell to SEK 1.29 billion. In the corresponding quarter last year, net interest income was SEK 1.34 billion. Operating profit rose to SEK 759 million, up from SEK 710 million.
"Credit growth is low, although it continues to trend upwards from the record-low levels seen at the beginning of 2024. Competition in the market remains very fierce, and we expect this situation is likely to persist for some time, putting downward pressure on mortgage margins," writes SBAB CEO Mikael Inglander in a comment.
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