Morgan Stanley Expects Handelsbanken's Q2 Net Profit to Exceed Expectations
Morgan Stanley expects Svenska Handelsbanken's (SHB-A.ST, SHB-B.ST) net profit for the second quarter to come in higher than market forecasts. The bank is projected to report a group net profit of 5.39 billion kronor, down 2% on an annual basis but above the Visible Alpha consensus of 5.29 billion kronor. Before tax, profit is forecast to come in at 6.95 billion kronor, according to the research firm's July 10 European earnings preview report. "On levies, we include a SEK 130m charge related to mandatory non-interest-bearing deposits at the central bank. We are also slightly more constructive than consensus on both costs and credit provisions, resulting in our Q2 net profit estimate being c.2% above consensus. Dividend accruals remain high, and we assume accrual of c.90% for 2Q," analysts said. The Swedish bank is scheduled to release its half-year results on Wednesday. The stock is rated underweight.
Morgan Stanley expects Svenska Handelsbanken's (SHB-A.ST, SHB-B.ST) net profit for the second quarter to come in higher than market forecasts.
The bank is projected to report a group net profit of 5.39 billion kronor, down 2% on an annual basis but above the Visible Alpha consensus of 5.29 billion kronor.
Before tax, profit is forecast to come in at 6.95 billion kronor, according to the research firm's July 10 European earnings preview report. "On levies, we include a SEK 130m charge related to mandatory non-interest-bearing deposits at the central bank.
We are also slightly more constructive than consensus on both costs and credit provisions, resulting in our Q2 net profit estimate being c.2% above consensus.
Dividend accruals remain high, and we assume accrual of c.90% for 2Q," analysts said.
The Swedish bank is scheduled to release its half-year results on Wednesday.
The stock is rated underweight.