Svenska Handelsbanken AB (SVNLF.PK, SVNLY.PK), a Swedish lender, on Wednesday reported an increase in net income for the full year, amidst an improvement in total income, supported by a rise in net interest income, gain on financial transactions, and a profit from discontinued operations.
For the 12 months, the bank registered a net income of SEK 29.114 billion or SEK 14.70 per share, higher than SEK 21.678 billion or SEK 10.95 per share, posted for the same period last year.
Profit from continuing operations stood at SEK 27.905 billion, compared with SEK 21.398 billion a year ago. Profit from discontinued operations surged to SEK 1.209 billion, from last year's SEK 280 million.
Operating earnings moved up to SEK 36.322 billion from SEK 26.829 billion in 2022.
Profit before credit losses, risk tax, and resolution fee stood at SEK 39.067 billion as against SEK 29.163 billion in 2022. Net interest income rose to SEK 47.578 billion from SEK36.614 billion last year.
Net fee and commission income increased to SEK 11.139 billion from SEK10.981 billion a year ago.
Net gains on financial transactions were up at SEK 2.661 billion from SEK 1.540 billion in 2022.
Total income stood at SEK 62.249 billion as against the previous year's SEK 50.375 billion.
Handelsbanken will pay an annual dividend of SEK 6,50 per share and a special dividend of SEK 6,50 per share, to be paid on March 27, to shareholders of record as of March 22.
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