SEB profits beat expectations

SEB, one of the largest banks in the Nordic region, has announced operating profits of 4.554 billion kronor (around $685 million) for the second quarter, up from 3.906 billion in the same period last year.

A Reuters survey showed analysts on average expecting a profit of 4.107 billion kronor.

The company’s total turnover was 10.719 billion kronor, compared with 9.691 billion in the same period in 2006. Costs were 5.884 billion kronor, up from 5.637 billion.