SBAB reports an operating profit of SEK 641 million for the second quarter of the year. This can be compared with the profit of 663 million in the corresponding quarter last year.
Net interest income – what the bank earns on the difference between deposit and lending rates – rises to SEK 1,088 million, up from SEK 1,031 million.
The quarter was characterized by geopolitical unrest as a result of Russia’s invasion of Ukraine, increased uncertainty and higher interest rates, states SBAB.
“During the quarter, we noted an incipient decline in housing prices, especially for apartments and houses in metropolitan areas. Even though it has only been a few months, there is much to suggest that this is a declining trend. wait “, writes SBAB’s CEO Mikael Inglander, in a comment.
“SBAB’s economists estimate that variable mortgage rates will be around four percent in some years’ time, while long-term mortgage rates will be close to 5 percent,” he adds.