Facts Q January, 2013

Transcription

1 Facts Q January, 2013

2 44B 4B 44B 4B 44B 4B Contents page page General information 2 Asset quality 43 Swedbank in brief 2-3 Asset quality Macro economic indicators 4-5 Credit impairments 46 Financial information, Group 6 Impaired loans Income statement, 5-year summary 6 Loans past due 49 Income statement, 9-quarter summary 7 Concentration risk 50 Balance sheet, 5-year summary 8 Capital adequacy 51 Balance sheet, 9 quarters, Equity and Goodwill 9 Credit risk, EAD distribution by business area and segment 51 Net interest income analysis 10 Capital adequacy parameters for credit risk - business area 52 Income analysis 11 Capital adequacy parameters for credit risk - segment 53 Expense analysis 12 Capital adequacy 54 Variable pay 13 Outstanding subordinated debt and leverage ratio 55 Business areas 14 ICAAP Scenario based stress test Retail Liquidity & Funding 58 Large Corporates & Institutions Liquidity reserve and additional Liquid Assets 58 Baltic Banking 18 Survival horizon 59 Baltic Banking Liquidity ratios 60 Estonia 20 Debt securities in issue 61 Latvia 21 Maturity distribution, long-term funding 62 Lithuania 22 Outstanding benchmark bonds 63 Other 23 Outstanding short-term funding 64 Asset Management Maturity distribution, total balance sheet Group Functions & Other Asset encumbrance 67 Group Business Support 28 Cover pool data Group Treasury 29 Swedbank Mortgage AB, loan data 71 Russian Banking 30 Rating 72 Ukrainian Banking 31 Key figures 73 Ektornet Market shares 74 Other 34 Employees 75 Eliminations 35 Currency distribution and exchange rates 76 Swedbank Insurance 36 Sensitivity analysis 77 Baltic Life Insurance 37 Shareholders and share data 78 Baltic P&C Insurance 38 Definitions 79 Business volumes 39 Contacts and financial calendar 80 Loans 39 Deposits and amounts owed to credit institutions 40 Derivatives and Deferred Tax Assets 41 Interest bearing Securities 42

3 Swedbank in brief General information Swedbank is a bank for the many households and businesses, offering a wide range of financial products and services. The key is a traditional banking model that focuses on close customer relationships and advisory services. Swedbank is the largest bank in Sweden based on number of customers and is the leader in many market segments in its four home markets. Markets Four home markets: Sweden, Estonia, Latvia, Lithuania. Present in 9 other countries. Number of customers 7.8 million private customers and corporate and organisational customers. Number of branches Over 500 Financial targets Return on equity: The return on equity shall amount to 15 per cent. Capitalisation: The Board of Directors has resolved to withdraw its capitalisation target. In the opinion of Swedbank s management today, Swedbank will need a core Tier 1 capital ratio of 13 to 15 per cent (Basel 3 incl IAS19- effects). Dividend: The dividend will correspond to 75 per cent of after-tax profit. Number of full-time employees Priorities Improve customer offering Purpose To promote a sustainable financial situation for the many households and businesses. Values Simple, Open, Caring Long-term strategy A profitable bank for the many: Our large customer base in our four home markets offers a unique potential. We want to help many customers, from those with basic needs to others with more advanced banking need an a way that creates customer value and profitability. With long-term relationships: Swedbank is convinced that the bank and customer benefit from a long-term relationship. We therefore try to build full-service relationships. By offering products and services through the right channels for our customer segments, we improve accessibility and long-term profitability. In Sweden, accessibility is being expanded through the cooperation with the savings banks and various franchises. Invest in digital channels Improve advisory capacity and competence Simplify and improve the product offering Increase decision-making close to our customers: Clarify and simplify the framework New organisation with more customer focus Simpler to assess outcomes Focus on productivity Continued cost focus Reduced number of products and improve process efficiency Risk-based pricing Capital and funding management: Improve understanding of risk and capital Improve the banks credit ratings Reduce relative funding costs Decision-making close to the customer within clearly defined frameworks: Clearly defined frameworks and monitoring systems for the Group allow decisions to be delegated close to the customer.frameworks are designed for e.g. capital & liquidity, risks, monitoring and brand management. Development and production of the bank s products is done at the Group level. Satisfied customers require employees who take responsibility and are motivated a which requires good leadership in the bank. A low risk level: Stable profitability is essential for Swedbank. A low risk profile, with majority of lending in Sweden, makes it possible for us to maintain the lowest funding costs in its home markets. The risk level is kept low through high quality of lending, a sustainable balance between deposits and lending, a broad, diversified customer base and matching maturities in deposits and lending. Swedbank prioritises sustainable growth over higher market shares. Industry leading cost efficiency: To be competitive, Swedbank has to efficiently manage its capital and expenses. Capital efficiency is reached when employees understand what drives and affects risk-weighted assets and capital requirements. We want to create a corporate culture where everyone is cautious about expenses. The bank s general remuneration programme, Eken, will help to strengthen this cost consciousness. We will also continuously adapt our organisation to changes in the marketplace and capitalise on economies of scale in our home markets. 2

4 Swedbank in brief General information Sweden Population: 9.5m Private customers: 4.0m Corporate customers: Organisations: Branches: 310 ATMs: 635 Cards: 3.8m Employees: Latvia Population: 2.2m Private customers: 0.9m Corporate customers: Branches: 54 ATMs: 412 Cards: 1.0m Employees: Estonia Population: 1.3m Private customers: 1.0m Corporate customers: Branches: 58 ATMs: 502 Cards: 1.1m Employees: Lithuania Population: 3.2m Private customers: 1.9m Corporate customers: Branches: 82 ATMs: 502 Cards: 1.9m Employees: To support the business in Swedbank's four home markets, Swedbank is also established in neighbouring markets such as Finland, Norway, Denmark and Russia as well as certain other countries such as the US, China, Luxembourg and Spain. Swedbank also conducts banking operations in Ukraine. Group operational structure 2012 Swedbank is organised in four major business areas, supported by Group Functions. Board of Directors Internal Audit President and CEO Retail Large Corporates & Institutions Baltic Banking Asset Management Group Functions & Other Group executive committee Michael Wolf, President and CEO Thomas Backteman, Head of Corporate Affairs Håkan Berg, Group Chief Risk Officer Mikael Björknert, Head of Group Business Support Birgitte Bonnesen, Head of Baltic Banking Göran Bronner, Chief Financial Officer Catrin Fransson, Head of Retail Magnus Gagner-Geeber, Head of Large Corporates & Institutions Lars Friberg, Head of Group Human Resources Cecilia Hernqvist (Secretary), Head of Group Legal Helena Nelson (adjunct), Head of Group Compliance 3

5 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 Nov-12 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 Nov-12 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 Nov-12 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 Nov-12 Macro economic indicators General information GDP growth Average inflation rate (consumer price growth) % 2014F 2013F 2012F % 2014F 2013F 2012F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Current account balance, % of GDP General Government Financial Balance, % of GDP 2014F 2013F 2012F F 2013F 2012F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania General government debt, % of GDP 2014F 2013F 2012F GDP per capita (PPP) 2011, USD Inhabitants (millions) GDP (2011, USDbn) Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Unemployment % 2014F 2013F 2012F Sweden Estonia Latvia Lithuania Source: Swedbank Economic Research Department Total market, loans to the public by Country SEKbn Sweden EURbn 30 Estonia Total loans 1) Mortgage loans Total loans 1) Mortgage loans EURbn Latvia EURbn Lithuania Total loans 1) Mortgage loans (Sep. the latest) Total loans 1) Mortgage loans 1) Excluding repurchase agreements 4

6 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 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 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 Macro economic indicators General information Interest rates: Sweden & Eurozone, % Interest rates: Baltics & Eurozone, % Repo rate (SWE) ECB Euro rate 90 days Euribor 90 days Stibor (SWE) 90 days Vilibor (Lithuania) 90 days Rigibor (Latvia) 90 days Euribor Real estate price development, Sweden 1) SEK Q3-12 Sweden Gothenburg Stockholm Malmö Real estate price development, Baltics 2) EUR/m Q4-12 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

7 00B 0B Income statement, 5-year summary Financial information, Group Income statement, Group FY FY FY FY FY FY SEKm 2012 % ) Net interest income 1) Net commission income 1) 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 1) Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment on 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 FY FY FY FY FY SEKm 2012 % Profit for the period reported via Income statement Exchange differences on translating foreign operations: Gains/losses arising during the period Net gains and losses on financial items, fair value 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 relating to components of other comprehensive income 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 from 2010, compensation to Savings Banks is reported as interest expense (the part for handling a new mortgage loan) and as other expenses. For 2010 SEK 101m is reported as interest expense and SEK 490m as other expenses, and for 2011 SEK 104m is reported as interest expense and SEK 530m as other expenses. For the period , all compensation is reported as commission expense. 6

8 22B 2B Income statement, 9-quarter summary Financial information, Group Income statement, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 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 2012 SEKm Profit for the period reported via 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 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 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

9 11B 1B Balance sheet, 5-year summary Financial information, Group Balance sheet 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec SEKm 2012 % 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

10 11B 1B 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 2012 SEKm Assets Cash and balances with central banks Loans to credit institutions Loans to the public Interest-bearing securities 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 Goodwill, 31 Dec 2012 of Swedbank AB, 31 Dec 2012 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 Luxembourg (Luxembourg) 60 Swedbank (Lithuania) Sparia Försäkring (Sweden) 616 Group total Swedbank (Estonia) Goodwill within parent company: Swedbank (Latvia) Swedbank AB (Sweden) Swedbank (Lithuania) Total goodwill JSC Swedbank (Ukraine) -372 OAO Swedbank (Russia) OOO Leasing (Russia) 292 First Securities (Norway) Ektornet (Sweden) 832 Swedbank Babs Holding (Sweden 382 Other subsidiaries Total legal equity Group adjustments and eliminations Total equity attributable to shareholders of Swedbank AB SEKm 9

11 55B 5B Net interest income analysis, Group Financial information, Group Net interest income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 SEKm Interest income Loans to credit institutions Loans to the public 1) Interest-bearing securities Other Total Interest income Interest expenses 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 Other of which stability fee Total interest expenses Derivatives, income Derivatives, expenses 2) Derivatives, net interest income 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 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 ) In Q4 2010, penalties' related income in Baltics of SEK 191m was reclassified in line with Group accounting principles from other income to net interest income 2) Interest on all derivatives that economically hedge funding is recognised as an interest expense regardless of whether the contract s net interest is a gain or loss. Other derivative interest, trading derivatives and derivatives that financially hedge assets are recognised as interest income. Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. 10

12 44B 4B Income analysis Financial information, Group Income analysis, Group YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Net interest income 1) 2) Payment processing Service concepts Asset management 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 UC Other companies Share of the profit or loss of associates Real estate income IT/administrative services to savings banks Assets taken over Other 1) 3) Other income Total income ) In Q4 2010, penalties' related income of SEK 191m was reclassified from other income to net interest income. 2) 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. 3) In Q1 2011, One-off revenue of SEK 716m from a settlement with the bankruptcy estate of Lehman Brothers. 11

13 99B 9B 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 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 ) Social insurance charges and pension costs related to variable pay are presented as variable staff costs. 12

14 22B 2B Variable pay Allocations 1) Full-year Q4 SEKm Financial information, Group Duration period % Cash vs. shares for shares 2) Delivery date for shares Programmes 2012 General programme Eken Individual programme of which cash of which shares Other Total allocations, % shares ~60% cash & 40% shares 100% cash 50 months 50 months Programmes ) General programme Eken ) 557 Individual programme of which cash 143 of which shares 4) 86 Other Total allocations, % shares ~60% cash & 40% shares 100% cash 38 months for 50% of shares; 50 months for 50% of shares 50 months 2014 for 50% of shares and 2015 for 50% shares 2015 Programmes ) Individual programme of which cash 164 of which shares 4) 137 Other Total allocations, ~50% cash & 50% shares 100% cash 50 months ) Allocations include social insurance charges. Full-year allocations are expressed as YTD allocations calculated to full-year figures. 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 accounting over the duration period. 3) Allocations for shares 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 2012 SEKm Jan-Dec General programme Eken Individual programme of which cash 205 of which shares 28 General programme Individual programme Individual programme Other 111 Total 738 Equity-settled share based programmes Recognised remuneration expense, including social insurance charges 5) FY 2010 FY FY 2013 FY 2014 FY 2015 FY 2016 SEKm Jan-Dec expected expected expected expected TOTAL General programme Eken Individual programme General programme Eken Individual programme Individual programme Total Number of performance rights 6) General programme Eken 2012, expected Individual programme 2012, expected General programme Eken 2011, current Individual programme 2011, current Individual programme 2010, current Total Dec ) Adjustments for actual outcome are usually included in remuneration expenses the year after the performance year. 6) Number of performance rights gives impact on dilution and slightly differs from the number of rights that establish the recognised remuneration expense. Shares belonging to 2010 and 2011 include dividend compensation and adjustment for staff turnover. 13

15 Retail Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing 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 Retail Business areas YTD YTD % 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 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 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) 15

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 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

18 Large Corporates & Institutions Business areas YTD YTD % 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 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 Discretionary asset management Goodwill 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, SEKm Net interest income, Large Corporates

19 Baltic Banking Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Service concepts Asset management Life insurance Brokerage 1 1 Other securities Lending and guarantees 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 18