EE: Swedbank Estonia net profit up by 8.7% y/y in Q4.

By bne IntelliNews February 15, 2012
Swedbank Estonia recorded net profit of EUR 50.2mn in Q4, up by 8.7% y/y, the bank announced. Profit before loan losses stood at EUR 44.1mn in Q4, down by 14% y/y. In 2011 total net profit of Swedbank Estonia stood at EUR 190.1mn, up from EUR 78mn net profit in 2010. The improvement was due to lower bad loans provisions. Revenues increased by 1% y/y in 2011. The banks is one of the two biggest banks operating in Estonia together with SEB.

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