20.10.2015 07:30:00

Swedbank: Interim report for the third quarter 2015

Regulatory News:

Swedbank's President and CEO, Michael Wolf comments: "Efficiency improvements are progressing faster than expected and are now allowing us to invest more to enhance customer value"

Third quarter compared with second quarter 2015

  • Improved net interest income despite lower market interest rates
  • Continued lending growth in Sweden and Baltic countries
  • Weaker stock market reduced net commission income
  • Lower net gains and losses on financial items at fair value caused by wider credit spreads and lower customer activity
  • Successful cost control allows investments to be made at an earlier stage. The goal to reduce total expenses to SEK 16bn for 2016 remains unchanged
  • Continued high credit quality
  • Stronger capitalisation
  • Negative sales trend continues for funds
                           

Financial information

Q3

Q2

Jan-Sep

Jan-Sep

SEKm

2015

2015

%

2015

2014

%

Total income 9 234 9 315 -1 28 167 29 925 -6
of which net interest income 5 811 5 704 2 17 234 16 833 2
Total expenses 3 879 4 047 -4 12 094 13 309 -9
Profit before impairments 5 355 5 268 2

16 073

16 616 -3
Impairment of intangible assets 254 254 1
Credit impairments 130 6 195 165 18
Tax expense 1) 1 012 1 538 -34 3 651 3 301 11
Profit for the period attributable to the shareholders of Swedbank AB 3 928 3 666 7 11 914 12 652 -6
Earnings per share total operations, SEK, after dilution 3.51 3.30 10.69 11.40
Return on equity, total operations, % 13.5 13.4 13.8 15.6
C/I-ratio 0.42 0.43 0.43 0.44
Common Equity Tier 1 capital ratio, % 23.0 22.4 23.0 20.7
Credit impairment ratio, % 0.04 0.00 0.02 0.02
 
1) One-off tax expense of SEK 447m during second quarter 2015.
 

Swedbank AB (publ) is required to disclose this information pursuant to the Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments Trading Act (1991:980) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 20 October 2015 at 07.00 CET.

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