EE: Swedbank Estonia posts net profit of EUR 63mn in Q3.

By bne IntelliNews October 26, 2011
Swedbanks Estonian branch recorded net profit of EUR 63.1mn in Q3/11. In y/y terms net profit increased by 49% q/q in Q3. In Jan-Sep 2011 overall the net profit of Swedbank in Estonia stood at EUR 139.9mn vs. net profit of EUR 32mn a year ago. Profit before loan losses amounted to EUR 49mn in Q2, 7.4% y/y increase. Loan portfolio amounted to EUR 5.9bn as of end-Q3, down by 9.5% y/y, mostly attributed to contraction of new loans issuance due to low demand. The banks deposits portfolio stood at EUR 4.9bn as of end-Q3, up by 7.2% y/y.
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