Swedbank Profit Beats on Lower Costs as Lending Income Drops

Swedbank AB reported second-quarter earnings that beat analysts estimates as lower costs offset slowing income from lending and fees and commissions.

Net interest income fell 10% from a year earlier, the Swedish bank said Thursday, in line with estimates. While net commissions declined more than expected in the market volatility during the quarter, a 5.4% drop in total expenses helped offset that impact.