Banks

Swedbank Q4 profit below forecast, lowers dividend

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Peter Kollanyi | Bloomberg | Getty Images

Swedish banking group Swedbank posted fourth-quarter net earnings below market expectations on Tuesday and lowered its dividend.

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Net profit in the quarter amounted to 3.80 billion Swedish crowns ($445 million), lagging a mean forecast for 4.08 billion seen in a Reuters poll of analysts and unchanged from the year-ago period.

The bank proposed a dividend of 10.70 crowns per share, down from 11.35 crowns in 2014 and lower than the expected 11.00 crowns. The dividend was in line with the bank's policy of paying out 75 percent of profits.

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