The major banks are going strong in turbulent times

Sweden is in a recession where high inflation and uncertainty about future economic development hold back both consumption and investment. This is how the National Institute of Economic Research summarized the situation in the economy earlier this spring.

Household concerns about customs chaos and increased inflation grow and Large companies are confused. The uncertainty risks causing the recovery to be delayed. But for the banks things are still going well.

The three Swedish major banks, all of which have reported results during the week, together made a result of more than SEK 22 billion during the first quarter of 2025. Together with Finnish Nordea, it will be more than SEK 35 billion. All of them beat the market’s expectations by a good margin.

– We are quite affected by this. We are a very secure stable bank with strong balance sheet and very nice customers, and we do not like to take risks that we cannot live closely, says Handelsbanken’s CEO Michael Green.

The bank’s business is largely such that it is not affected by severe throws on the stock exchange.

– We are happy to take credit risks with our customers, but we do not like to take macro risk or financial risks in general. When it moves, we are relatively unaffected. We are run by the Kuna business and not so much other stains in financial markets, he explains.

In general, he thinks customers seem to feel good despite special times, but they have become somewhat more awaiting. Both corporate customers and households.

– We see that private customers are awaiting something about buying housing for example, and it is completely natural in uncertain times. I understand that, says Green.

The same is noticeable Among Swedbank’s customers who have been active during the turbulent times. During the quarter, the bank can note both outflows and redistributions within the customers’ savers.

Jens Henriksson, Swedbank’s CEO, does not want to review customers but notes:

– Long -term savings should be continued. It is an important part of our savings bank tradition. Then people can make renovations between shares and bonds or what markets they are on if they want, but I should not give advice on for that I do not have a license to do.

The bank’s economists Has previously estimated that housing prices would go up by five percent in 2025 but have quite recently revised the forecast that prices remain at the same level throughout the year.

– Basically, I would say that it depends on the financial uncertainty that is out there, says Jens Henriksson.

Are you worried about the recovery in the economy?

– Much indicates that we get a weaker economic growth in Sweden. The latest forecast from our economists is 1.5 percent in 2025. At the same time, it should be remembered that Sweden is very strong thanks to healthy public finances, order and ready, well -functioning capital markets and profitable banks.

Swedbank predicts that growth in both Sweden and the Baltic countries, the bank’s three other home markets, will be higher than both the euro zone and the United States this year and next year.

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