Net interest income, the bank's profit from the difference between deposit and lending rates, fell to SEK 1.27 billion, down from SEK 1.29 billion.
"A stable result in a market characterised by low credit growth and pressured lending margins. The mortgage portfolio is growing, but for the corporate portfolio, our business volumes are declining due to low demand for credit and fierce competition," writes Mikael Inglander.
“The Swedish market is showing some signs of recovery, although there is still considerable economic uncertainty about where the global economy will go,” he adds.
