Swedbank and SEB profits rise in first nine months

Swedbank’s net profit in Estonia reached 193 million euros in the first nine months of 2026, up 2 million euros from a year earlier, while SEB’s profit rose by 2.5 million euros to 129.8 million euros, ERR reported.

Swedbank’s revenue increased by 10 million euros in the first three quarters, mainly because of higher interest income. Net interest income rose by 19 million euros, supported by larger portfolios and higher market interest rates, while other income fell by 8 million euros. The bank’s costs increased by 7 million euros.

Swedbank’s lending to private customers grew by 8% year on year and lending to business customers by 9%. Deposits rose by 6%. The bank issued 1.1 billion euros in new loans to individuals and 1.6 billion euros to companies during the nine-month period. Its loan portfolio stood at 12.1 billion euros at the end of the third quarter.

Swedbank’s expected credit losses amounted to 2 million euros in the first nine months, compared with minus 6 million euros a year earlier. Assets in its second- and third-pillar pension funds reached a record high of more than 3.5 billion euros combined.

SEB reported operating income of 224.9 million euros, compared with 219.2 million euros a year earlier, and operating costs of 70.9 million euros. It reduced expected credit losses by 3.1 million euros.

SEB’s loan portfolio grew by 9.5% year on year. The bank issued 12% more in new loans and leases to private customers during the nine months than in the same period last year. Its private-customer loan portfolio grew by 7.5%, including an 8.5% increase in home loans. Lending to businesses rose by 15%.

“Where real estate often set the tone for new financing in previous years, the picture is now much broader. Investment is reaching more sectors of the economy, and this diversification supports economic growth,” SEB chief executive Allan Parik said. He added that the bank was seeing projects requiring financing in transport, energy, technology and trade.

SEB customer deposits grew by 4.1% over the year to 6.6 billion euros.