The state-owned mortgage bank SBAB reports an operating profit of 628 million kronor for the third quarter of the year. This can be compared to the profit of 720 million kronor during the corresponding quarter last year.
The net interest income – what the bank earns on the difference between lending and deposit rates – fell to 1,223 million kronor, compared to 1,315 million a year earlier.
According to SBAB, the decreased net interest income is a result of decreased deposit margins, which are affected by falling market rates.
"Increased business volumes for both lending and deposits had a positive impact on the net interest income", SBAB adds.
