The big banks crash on the stock market – Handelsbanken down 10 percent

Handelsbanken’s (stock price Handelsbanken) results fell more than analysts expected, costs rose faster than revenues, turnover and net interest income fell short of expectations. There were no happy expressions on the part of the investors when the bank’s new CEO Michael Green presented the quarterly report.

The market punished the bank with the share plummeting 10 percent at the market opening.

The competitor SEB (market price SEB) instead had increasing revenues and decreasing credit losses. But net interest income did not reach analysts’ expectations and the share fell 4.5 percent.

Swedbank (market price Swedbank) and Nordea (market price Nordea) are also involved in the case. Swedbank is down 4.9 percent and Nordea 1.2 percent at 9.30am. Swedbank submits its quarterly report tomorrow Thursday, Nordea submitted a strong report last week, which Dagens PS reported on.

Read also: Expensive raw materials a “joker” in the fight against inflation (Dagens PS)

Read also: Nordea: Up to evidence Riksbank (Dagens PS)

Read also: Handelsbanken’s CEO: “Of course not satisfied” (Dagens PS)

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