Q3 reporting has started now and today it was time for Handelsbank and Tele2 (NASDAQ OMX). In general the report looks good.
Tele2 results was in line with what the analysts expected, Handelsbank crushed the forecasts that had been set previously.
The important net interest income for Handelsbank came in clearly better than expected and the operating profit was 36% higher than the same quarter, the year before.
What is particularly important is that the credit losses are almost non-existent so far. When customers have problems paying their loans, well then we have problems. It is exactly this scenario that the market has been concerned about with regard to Handelsbank, which has the highest share of real estate loans among the major Swedish banks.
It appears that growth is now predicted to slow significantly. Partly because new loans are becoming fewer, and partly because many have chosen to pay more. The Market probably puts extra weight on these words…
I myself have thought about whether it is better to invest in the stock market or to put money in a savings account.
Long-term buying of sectors that are currently having problems will probably pay off when the winds turn, but you need to be patient. I myself do not believe in selling sectors that are doing well, but perhaps put more powder where it burns.
Do drop a comment and stay tuned for further updates…
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