Estonia: Swedbank’s annual profit doubled to EUR 385mn in 2023

Estonia’s Swedbank posted a net profit of EUR 385mn in 2023, which was up EUR 193mn (nearly 100%) from the same period of 2022, ERR reports. Revenue rose by EUR 309mn over a year, with net interest income up EUR 244mn. New loans issued to private customers amounted to EUR 1.05bn (up 5%) and to corporate customers to EUR 1.7bn (up 7%). The bank’s loan portfolio exceeded EUR 10bn at the end of 2023. Deposits rose by 1% over a year.