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Swedbank third-quarter net profit rise beats forecast

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By Reuters
Swedbank third-quarter net profit rise beats forecast
Swedbank's logo is pictured on its Lithuanian headquarters in Vilnius, Lithuania, in this May 10, 2014 file photo. REUTERS/Ints Kalnins/Files   -   Copyright  Ints Kalnins(Reuters)

STOCKHOLM (Reuters) – Swedish bank Swedbank <SWEDa.ST> reported a higher than expected net profit for the third quarter on Tuesday as lending volumes grew and a favourable stock market benefited its asset management business.

Net profit rose to 5.53 billion Swedish crowns (473.2 million pounds), above a mean forecast for 5.01 billion in a Reuters poll of analysts and compared with 4.74 billion in the year-ago period.

(Reporting by Johan Ahlander; editing Niklas Pollard)