28.04.2015 07:13:00

Swedbank: Interim Report January - March 2015

Regulatory News:

Compared with fourth quarter 2014

  • ? Improved result in exceptional market conditions
  • ? Good cost control
  • ? Continued lending growth in Sweden
  • ? Stable net interest income but pressure from lower interest rates
  • ? Lower net commission income due to seasonally lower customer activity, less capital raising activity and lowered fund fees
  • ? Net gains and losses on financial items at fair value benefited from high activity in fixed income and FX trading
  • ? Continued low credit impairments
  • ? Continued strong capitalisation. Higher valuation of pension liabilities and loan volume growth had a negative effect on the Common Equity Tier 1 capital ratio
  • ? Swedbank completed its first issuance of Additional Tier 1 Capital instruments according to new European capital regulations to optimise its capital structure
  • ? International expansion in card acquiring through agreement with Finnish customer

”I am pleased with how we handled the challenges in the first quarter. Our strong financial starting point gives us the strength to continue to shape the bank of the future”, says Michael Wolf, President and CEO at Swedbank.

Financial information   Q1   Q4     Q1  
SEKm 2015 2014 % 2014 %
 
Total income 9 618 9 379 3 9 320 3
of which net interest income 5 719 5 809 -2 5 483 4
Total expenses 4 168 4 293 -3 4 226 -1
Profit before impairments 5 450 5 086 7 5 094 7
Credit impairments 59 254 -77 -100
Profit for the period attributable to the shareholders of Swedbank AB 4 320 3 795 14 3 953 8
 
Earnings per share total operations, SEK, after dilution 3,88 3,41 3,57
Return on equity, total operations, % 14,9 13,3 14,5
C/I-ratio 0,43 0,46 0,45
Common Equity Tier 1 capital ratio, % 20,5 21,2 18,3
Credit impairment ratio, % 0,02 0,07 -0,03

Please read the full report in the pdf document attached or at www.swedbank.com/ir.

About Us

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to a development "Beyond Financial Growth”. As a leading bank in the home markets Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 7.9 million retail customers and around 600,000 corporate customers and organizations with 308 branches in Sweden and approximately 190 branches in the Baltic countries. The group is also present in other Nordic countries, the U.S. and China.As of 31 March, 2013 the group had total assets of SEK 1,917 billion.

Brunkebergstorg 8 105 34 Stockholm
+46 8 585 900 00
+46 8 723 71 32
http://www.swedbank.se
ir@swedbank.se

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