Facts Q January, 2014

Transcription

1 Facts Q January, 2014

2 44B 4B 44B 4B 44B 4B Contents page page General information 3 Asset quality 47 Swedbank in brief 3 Asset quality Macro economic indicators 4-5 Credit impairments 51 Financial information, Group 6 Impaired loans and provisions Income statement, 5-year summary 6 Loans past due 54 Income statement, 9-quarter summary 7 Concentration risk 55 Balance sheet, 5-year summary 8 Capital adequacy 56 Balance sheet, 9 quarters, Equity and Goodwill 9 Exposure distribution for credit risk Basel 2 56 Statement of changes in equity and Intangible fixed assets 10 by business area and by segment 57 Net interest income analysis 11 Capital adequacy parameters for credit risk - business area 57 Income analysis 12 Capital adequacy parameters for credit risk - segment 58 Expense analysis 13 Capital adequacy 59 Variable pay 14 Change in RWA and Outstanding subordinated debt and leverage ratio 60 Business areas 15 ICAAP Scenario based stress test Swedish Banking Liquidity & Funding 63 Large Corporates & Institutions Liquidity reserve and additional Liquid Assets 63 Baltic Banking 24 Survival horizon 64 Baltic Banking Liquidity ratios 65 Estonia 26 Debt securities in issue 66 Latvia 27 Maturity distribution, long-term funding 67 Lithuania 28 Outstanding benchmark bonds 68 Other 29 Outstanding short-term funding 69 Group Functions & Other Maturity distribution, total balance sheet Group Products 32 Asset encumbrance 72 Group Treasury 33 Cover pool data Ektornet Swedbank Mortgage AB, loan data 76 Other 36 Rating 77 Eliminations 37 Key figures Product companies 38 Market shares 80 Swedbank Robur AB Swedbank Group by geography 81 Swedbank Insurance 40 Employees 82 Baltic Life Insurance 41 Currency distribution and exchange rates 83 Baltic P&C Insurance 42 Sensitivity analysis 84 Business volumes 43 Shareholders and share data 85 Loans 43 Definitions 86 Deposits and amounts owed to credit institutions 44 Contacts and financial calendar 87 Derivatives and Deferred Tax Assets 45 Interest bearing Securities and Exposures towards the GIIPS countries 46

3 Swedbank in brief General information Sweden Population: 9.5m Private customers: 4.0m Corporate customers: Organisations: Branches: 305 ATMs 1) Cards: 3.8m Employees: Latvia Population: 2.0m Private customers: 1.0m Corporate customers: Branches: 54 ATMs: 427 Cards: 1.0m Employees: Estonia Population: 1.3m Private customers: 1.0m Corporate customers: Branches: 50 ATMs: 480 Cards: 1.1m Employees: Lithuania Population: 3.0m Private customers: 2.0m Corporate customers: Branches: 77 ATMs: 489 Cards: 1.8m Employees: ) ATMs are handled in Bankomat AB. More information is available on To support the business in Swedbank's four home markets, Swedbank is also established in neighbouring markets such as Norway, Finland and Denmark as well as certain other countries such as the US, China, Luxembourg and Spain. Swedbank is discontinuing operations in Russia and has finalised the divestment of the Ukrainian subsidiary in Q Group operational structure 2013 The financial reporting is divided in four segments. The six Swedish regions and Channel & Concepts form Swedish Banking. Group products, and other group functions, constitute Group Functions & Other. Group executive committee Michael Wolf, President and CEO Anders Karlsson, Group Chief Risk Officer Mikael Björknert, Head of Channels & Concepts Birgitte Bonnesen, Head of Baltic Banking Göran Bronner, Chief Financial Officer Ulf Ejelöv, Head of Northern Region in Sweden Björn Elfstrand, Head of Stockholm Region in Sweden Anders Ekedahl, Head of Group IT Helo Meigas, Head of Group Treasury Jonas Erikson, Head of Group Products Lars Friberg, Head of Group Human Resources Magnus Gagner-Geeber, Head of Large Corporates & Institutions Stojko Gjurovski, Head of Southern Region in Sweden Marie Halling, Head of Eastern Region in Sweden Cecilia Hernqvist (Secretary), Head of Group Legal Lena Smeby-Udesen, Head of Western Region in Sweden Johan Smedman, Head of Central Region in Sweden 3

4 General information Macro economic indicators GDP growth Average inflation rate (consumer price growth) % 2015F 2014F 2013F % 2015F 2014F 2013F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Current account balance, % of GDP General Government Financial Balance, % of GDP 2015F 2014F 2013F F 2014F 2013F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania General government debt, % of GDP 2015F 2014F 2013F GDP per capita (PPP) 2012, USD Inhabitants (millions) GDP (2012, USDbn) Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Household debt, % of disposable income 1) Unemployment % % 2015F 2014F 2013F Sweden Sweden Estonia N/A Estonia Latvia N/A Latvia Lithuania N/A Lithuania ) Data for households and non-profit institutions serving households. Source: Swedbank Reasearch - Macro Research, Eurostat, the World Bank & the Riksbank Total market, net change in loans to the public by Country Sweden SEKbn Net change Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Oct-Nov Total loans 1) Mortgage loans Estonia EURm Net change Total loans 1) Mortgage loans Latvia EURm Net change 2) Total loans 1) na na Mortgage loans na Lithuania EURm Net change Total loans 1) Mortgage loans ) Excluding repurchase agreements. 2) June the latest for lending and Sept the latest for mortgage. 4

5 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Macro economic indicators General information Interest rates: Sweden & Eurozone, % Interest rates: Baltics & Eurozone, % 6,0 5,5 5,0 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0, Repo rate (SWE) Real estate price development, Sweden 1) SEK Q3-13 Sweden Gothenburg ECB Euro rate 90 days Euribor 90 days Stibor (SWE) Stockholm Malmö 90 days Vilibor (Lithuania) 90 days Rigibor (Latvia) 90 days Euribor Real estate price development, Baltics 2) EUR/m Tallin Riga Vilnius 1) Median price for a single family home 2) Average sales price per sqm for apartments Source: Swedbank's Boindex (real estate price index) Source: Land boards of respective country Turnover General index and turnover, equities, NASDAQ OMX, Stockholm Index Stockholm, SEKm turnover month OMX Stockholm PI (rs) 5

6 Income statement, 5-year summary Financial information, Group Income statement, Group FY FY FY FY FY FY SEKm 2013 % ) Net interest income Net commission income Net gains and losses on financial items, fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of Comprehensive Income YTD FY FY FY FY FY SEKm 2013 % Profit for the period reported via Income statement Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans Share related to associates Income tax Total Items that may be reclassified to the income statement Exchange differences on translating foreign operations: Gains/losses arising during the period Reclassification adjustments to Income statement, Net gains and losses on financial items, fair value or profit for the period from discontinued operation Hedging of net investments in foreign operations: Gains/losses arising during the period Cash flow hedges: Gains/losses arising during the period Reclassification adjustments to Income statement, Net interest income Net gains and losses on financial items, fair value 37 Share of other comprehensive income of associates Income tax Total Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests ) From 2012, trading related net interest income is reported as net gains and losses on financial items at fair value. For 2012, SEK 523m has been moved from net interest income to net gains and losses on financial items at fair value. As of 2012, the changes in reporting of benefit pension plans according according to IAS 19 have affected staff costs. For 2012, staff costs have increased by SEK 51m and tax expense by SEK 83m. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 6

7 22B 2B Income statement, 9-quarter summary Financial information, Group Income statement, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2013 SEKm Net interest income Net commission income Net gains/losses on financial items, fair value Net insurance Share of profit or loss of associates Other income Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit Impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2013 SEKm Profit for the period reported via Income statement Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans Share related to associates Income tax Total Items that may be reclassified to the income statement Exchange differences on translating foreign operations: Gains/losses arising during the period Reclassification adjustments to income statement, Net gains/losses on financial items at fair value or profit for the period from discontinued operation Hedging of net investments in foreign operations: Gains/losses arising during the period Cash flow hedges: Gains/losses arising during the period Reclassification adjustments to Income statement, Net interest income Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Total Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 7

8 Balance sheet, 5-year summary Financial information, Group Balance sheet 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec SEKm 2013 % Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear the investment risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securites in issue Financial liabilities for which customers bear the investment risk Derivatives Other liabilites Subordinated liabilities Equity Total liabilities and equity As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 8

9 Balance sheet 9 quarters, Equity and Goodwill Financial information, Group Balance sheet 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm 2013 SEKm Assets Cash and balances with central banks Loans to credit institutions Loans to the public Interest-bearing securities Value change of interest hedged item in portfolio hedge Financial assets for which customers bear the investment risk Shares and participating interests Investments in associates Derivatives Intangible fixed assets of which goodwill Tangible assets Current tax assets Deferred tax assets Other assets Prepaid expenses and accrued income Group of assets classified as held for sale Total assets Liabilities and equity Liabilities Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear the investment risk Derivatives Current tax liabilities Deferred tax liabilities Short positions securities Other liabilities Accrued expenses and prepaid income Provisions Subordinated liabilities Liabilities directly associated with group of assets classified as held for sale Total liabilities Equity Non-controlling interests Equity attributable to shareholders of Swedbank AB Total equity Total liabilities and equity Equity attributable to shareholders of Swedbank AB, 31 Dec 2013 Goodwill, 31 Dec 2013 SEKm SEKm Swedbank AB (Sweden) Swedbank Robur 328 Swedbank Mortgage (Sweden) Swedbank Försäkring 651 Swedbank Finans (Sweden) Ölands Bank AB 9 Swedbank Robur (Sweden) Swedbank (Estonia) Swedbank Försäkring (Sweden) Swedbank (Latvia) Swedbank Asset Management (Luxembourg) 57 Swedbank (Lithuania) Sparia Försäkring (Sweden) 616 Swedbank Franchise (Sweden) 19 Swedbank (Estonia) Group total Swedbank (Latvia) Goodwill within parent company: Swedbank (Lithuania) Swedbank AB (Sweden) OAO Swedbank (Russia) Total goodwill OOO Leasing (Russia) 178 First Securities (Norway) 20 Ektornet (Sweden) 361 Swedbank Babs Holding (Sweden 460 Other subsidiaries Total legal equity Group adjustments and eliminations Total equity attributable to shareholders of Swedbank AB As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 9

10 Statement of changes in equity and Intangible fixed assets Financial information, Group Statement of changes in equity SEKm Shareholders' equity Noncontrolling interest Total equity Share capital Exchange Other differences, contributed subsidiaries and equity associates Hedging of net investments in foreign operations Cash flow hedges Retained earnings Total Opening balance 1 January Dividends Share based payments to employees Associates' aquisition of shares in Swedbank AB Associates' disposal of shares in Swedbank AB Total comprehensive income for the period Closing balance 31 December Specification of Exchange differences, subsidiaries and associates 31 Dec 31 Dec Q4 Q3 Q2 Q1 SEKm Russian Operations Ukrainian Operations Estonian Operations Latvian Operations Lithuanian Operations Norwegian Operations Robur, Ektornet and other Total Specification of Hedging of net investment in foreign operations 31 Dec 31 Dec Q4 Q3 Q2 Q1 SEKm Russian Operations Estonian Operations Latvian Operations Lithuanian Operations Norwegian Operations Robur, Ektornet and other Total Specification of Cash flow hedges 31 Dec 31 Dec Q4 Q3 Q2 Q1 SEKm Group Treasury Other Total Intangible fixed assets, 31 Dec 2013 SEKm Indefinite useful life Definite useful life Goodwill Customer base Internally developed software Other Total Cost, opening balance, 1 January Additions through internal development Additions through separate acquisitions Sales and disposals Exchange rate differences Cost,closing balance, 31 December Amortisation, opening balance 1 January Amortisation for the year Sales and disposals Exchange rate differences Amortisation, closing balance, 31 December Impairments, opening balance, 1 January Impairments for the year Sales and disposals Exchange rate differences Impairments, closing balance, 31 December Carrying amount, 31 December

11 Net interest income analysis, Group Financial information, Group Net interest income analysis, Group YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Interest income Loans to credit institutions Loans to the public Interest-bearing securities Derivatives, income Other Total interest income of which interest income reported in net gains/ losses on financial items at fair value Interest income according to income statement Interest expense Amounts owed to credit institutions Deposits and borrowings from the public of which deposits guarantee fees Debt securities in issue of which state guarantee fees Subordinated liabilities Derivatives, expenses Other of which stability fee Total interest expense of which interest expense reported in net gains/ losses on financial items at fair value Interest expense according to income statement Net interest income Average balances Loans to credit institutions Loans to the public Interest-bearing securities Interest-bearing assets Derivatives Other assets Total assets Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Subordinated liabilities Interest-bearing liabilities Derivatives Other liabilities Total liabilities Equity Total liabilities and equity Net interest income analysis, Group YTD YTD Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 % Average interest rates Loans to credit institutions Loans to the public Interest-bearing securities Interest-bearing assets Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Subordinated liabilities Interest-bearing liabilities Net interest margin before trading interest are deducted Net interest margin after trading interest are deducted Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 11

12 Income analysis Financial information, Group Income analysis, Group FY FY % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Net interest income 1) Payment processing Card commissions Service concepts Asset management & Custody Life insurance Brokerage & Other securities Corporate Finance Lending and Guarantees Deposits Real estate brokerage Non-Life insurance Other commission income Net commission income Financial instruments held for trading Financial instruments intended to hold until maturity Net gains and losses on financial items at fair value Net insurance Färs & Frosta Sparbank Swedbank Sjuhärad Other jointly owned banks in Sweden BGC-Holding EnterCard Holding Other companies Share of the profit or loss of associates IT/administrative services to savings banks Assets taken over Other Other income Total income ) In Q4 2011, One-off revenue of SEK 206m related to commercial real estate loans taken over in relation to the bankruptcy estate of Lehman Brothers. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 12

13 Expense analysis Financial information, Group Expense analysis, Group YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Staff costs Salaries and other remunerations Variable staff costs 1) Pension costs 1) Social insurance charges 1) Training costs Other staff costs Total staff costs 2) Other expenses Premises and rents IT expenses Telecommunications and postage Advertising, PR and marketing Consultants Compensation to Savings Banks Other purchased services Security transport and alarm systems Supplies Travel Entertainment Repair/maintenance of inventories Other expenses Total other expenses Depreciation/amortisation Total expenses IT-related expenses IT-related expenses 3) YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Expenses within internal IT-organisation (Group IT) Staff costs IT expenses of which software incl. licenses of which IT-consultants of which other bought IT-services Leasing and depreciation of IT-equipment Other expenses Total expenses Expenses outside internal IT-organisation (Group IT) IT expenses bought by business areas Activated IT-related expenses Total IT-related expenses of which development cost ) Social insurance charges and pension costs related to variable pay are presented as variable staff costs. 2) During Q SEK 100m and during Q SEK 330m was expensed for staff restructurings in Sweden and the Baltic countries 3) IT-related staff costs outside the internal IT organisation are not included. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 13

14 Variable pay Allocations 1) SEKm Fullyear 2013 Q Programmes 2013 General programme Eken share part 381 social security charges 82 Individual programme of which cash of which shares share part 108 social security charges 29 Other Total allocations, Programmes ) General programme Eken share part 578 social security charges 175 Individual programme of which cash 199 of which shares 125 share part 93 social security charges 32 Other Total allocations, % Cash vs. shares Duration period for shares 2) Financial information, Group Delivery date for shares 100% shares 50 months 2017 ~60% cash & 40% shares 100% cash 50 months % shares 50 months 2016 ~60% cash & 40% shares 100% cash 50 months 2016 Programmes 2011 General programme Eken ) 619 share part 399 social security charges 220 Individual programme of which cash 148 of which shares 4) 100 share part 64 social security charges 36 Other Total allocations, Programmes ) Individual programme of which cash 167 of which shares 4) 164 share part 101 social security charges 63 Other Total allocations, % shares ~60% cash & 40% shares 100% cash ~50% cash & 50% shares 100% cash 38 months for 50% of shares; 50 months for 50% of shares 2014 for 50% of shares & 2015 for 50% shares 50 months months ) Full-year allocation is a total expense for a certain programme including social insurance charges. Any change in full-year allocations impacts quarterly allocations for the current year programmes. Historical allocations are shown during the entire duration period (see comment 2). Balance sheet currency rates are used for conversion of allocations while average YTD currency rates are used for conversion of variable pay expenses in the income statement. 2) Duration period is comprised of i) an initial performance year followed by ii) a deferral period prior to iii) the delivery date a year after the deferral period and publication of the year-end report. The share part is recognised in the income statement over the duration period. 3) Allocations for shares after the allotment (done in Q1 after the performance year) include social insurance charges based on the expected share price on the delivery date (assumed being equal to the current share price). 4) Forfeited performance rights are taken into account during the deferral period (not during the performance year). Income statement impact SEKm Jan-Dec Jan-Dec Number of performance rights 5) General programme Eken Eken 2013, expected Individual programme Individual 2013, expected of which cash 234 Eken 2012, current of which shares 33 Individual 2012, current General programme Eken Eken 2011, current Individual programme Individual 2011, current of which cash 205 Individual 2010, current of which shares Total General programme Individual programme Individual programme Other Total Equity-settled share based programmes Dec ) Number of performance rights in the table above gives full impact on dilution on delivery date and slightly differs from number of rights establishing the recognised share based expense. Current dilutive rights/future shares amount to Recognised share based expense, including social insurance charges 6) FY 2010 FY 2011 FY FY 2014 FY 2015 FY 2016 FY 2017 SEKm Jan-Dec expected expected expected expected TOTAL General programme Eken Individual programme General programme Eken Individual programme General programme Eken Individual programme Individual programme Total ) Adjustments for actual outcome are usually included in share based expenses the year after the performance year (same applies for the cash part) 14

15 Swedish Banking Business areas YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Card commission Service concepts Asset management Life Insurance Brokerage & Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-Life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests

16 Swedish Banking Business areas YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities 10 Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Common Equity Tier 1 capital ratio, Basel 2, % Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Allocated equity, average, SEKm Common Equity Tier 1 capital, period end Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions. Other information (millions) Number of Internet bank customers (incl. savings banks) Number of internet bank payments (incl. savings banks) Number of Mobile bank customers (incl. savings banks) Number of logins in Internetbank Number of logins in Mobile Bank Number of cards (debit cards) Number of card purchases POS/total card turnover, % 2) Number of card acquiring, Nordic Countries Total acquired amount, Nordic Countries, SEKm ) Point of Sale (POS). 16

17 Large Corporates & Institutions Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Card commission Service concepts Asset management Life Insurance Brokerage & Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests 17