Q1, April 28, Facts Swedbank

Transcription

1 April 28, 26 Facts Swedbank Contents page 1 Market position 2 2. Strategy 4 3. Financial targets 5 4. Savings and investments 6 5. Lending 7 6. Profit trend and key figures 8 7. Income 1 8. Expenses Profit per business area Balance sheet Swedish interest rates Funding and interest rate risks Asset quality Organization structure Owners and shares 23

2 1. Market position Our customer base March 31, 26 Product range and market position, Sweden March 31, 26 Households Public sector Goup excluding Group excluding Baltic Banking 4.1 million Baltic Banking 218 municipalities Group excluding Baltic Banking 4.7 million Baltic Banking 22 county councils Authorities Companies Group excluding Baltic Banking Baltic Banking Swedbank Nationwide organizations Unions 25. Cooperative Religious Mortgage loans Household deposits Mutual fund investments Individual pension savings Premium pension savings Card clearance transactions Internet bank Telephone bank Real estate brokerage 2 Strong positions in Equity linked bonds Consumer credits Unit-linked insurance Business deposits Leasing Stock brokerage Corporate lending Swedbank Swedbank March 31, (763) branches 16,295 (16,148) employees 8.8 (8.8) M private customers 441, (436,) corporate customers 1,942 (1,939) ATM's 3.8 (3.7) M Internet banking customers 2.8 (2.7) M Telephone banking customers (December 25). Baltic Banking 27% Profit for the period Customers Baltic Banking 53% Baltic Banking 12% Group excluding Baltic Banking 73% Baltic Banking 37% Group excluding Baltic Banking 47% Lending Branches Group excluding Baltic Banking 88% Group excluding Baltic Banking 63% Products sold per private customer in Sweden Number of customers, thousand 1,2 1, Products sold per corporate customer in Sweden Average number of Average number of Numbers of products products customers, Q Q thousand Q Q Q Q Q Q Q Q Q Q >1 Q4,24 Q1, >1 Q4,24 Q1,26 2

3 1. Market position Market shares, Swedish retail market February 28, 26 % March 31, 26 6 Estonia Market shares, Baltic retail market Estonia % Latvia Lithuania Latvia Lithuania 1 1 Total lending * As of December 31, 25 Latvia and Lithuania as of February 28, 26 Giro accounts, Swedbank Including savings banks and partly owned banks Number of private customers with giro, thousand 5, 4,5 4, 3,5 3, 2,5 2, 1,5 1, 5 Dec-3 Mar-4 Mortgage 3,5 3, 2,5 2, 1,5 1, 5 Bank cards, Swedbank Including savings banks and partly owned banks Number of cards, thousand Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Swedbank excl Baltic Banking Purchases, million Mar-5 Jun-5 Sep-5 Dec-5 Baltic Banking Acquiring, million Quarterly transactions, million Mar Internet bank, Swedbank Including savings banks and partly owned banks Number of customers, thousand 2,25 Number of payments, million 5 2, 1,75 1,5 1,25 1, Dec-3 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Sep-5 Dec-5 Mar-6 Jun-4 Giro (paper), Sweden Giro via Internet, Baltic Banking Deposits Sep-4 Fund management * Dec-4 Mar-5 Jun-5 Giro via Internet, Sweden Retail bonds Sep-5 Dec-5 Mar-6 Total lending Deposits Numbers of Internet customers in Sweden Number of Internet customers in Baltic Banking Payments 3

4 2. Strategy Mission By understanding and acting upon our customers needs, we can offer them the best financial solutions and thereby help them to improve their financial situation. In this way, we can continuously increase our company s value and serve as a positive force in society. Vision We want to be the leading financial institution in the Nordic and Baltic region. By leading we mean having in each home market: the highest level of customer satisfaction, the best profitability, and the most attractive employer Values We believe that the Group s healthy profits and increased international recognition are the result of a performanceorientated culture, clear and transparent communication, a willingness to change, and the strong commitment of our employees. Home markets, universal banking Sweden - Swedbank Estonia - Hansabank Latvia - Hansabank Lithuania - Hansabank Other markets, niche banking Denmark - Swedbank branch Finland - Swedbank branch Norway - Swedbank branch, investment banking through First Securities (51% owned) Russia - Corporate banking and leasing in Moscow, Kaliningrad and St Petersburg US - Merchant/investment banking in New York Luxemburg - banking for affluent Swedes living abroad China - Rep. office in Shanghai Japan - Rep. office in Tokyo Spain - Rep. office in Marbella Collaboration/alliances Norway % ownership in SpareBank 1 Gruppen Finland - 1.1% ownership in Aktia International growth three options 1) Retail banking in Nordic and Baltic regions controlling share any acquisition should give a positive contribution to group RoE long-term 2) Acquisition-led expansion within certain product areas economies of scale cross-border customer value additional distribution channels 3) Greenfield investment in Nordic metropolitan retail operations 4

5 3. Financial targets Financial targets The Group's return on equity shall exceed the average of all other large, publicly listed Nordic banks (Handelsbanken, SEB, Nordea, Danske Bank and DnB NOR) and be at least 2 percent higher than the longterm risk-free interest rate plus a normal risk premium. The Group's C/I ratio shall not exceed.5. The primary capital ratio (tier 1) shall be 7 percent over the long term. At least 4 percent of net profit shall be distributed to the shareholders as dividend. Return on equity Capital adequacy % % Nordic peers Swedbank. Q1-4 Q2-4 Q3-4 Q4-4 Q1-5 Q2-5 Q3-5 Q4-5 Q1-6 The peer group consists of SEB, Nordea, SHB, DnB NOR and Danske Bank Actual capital adequacy ratio Target primary capital ratio Primary capital ratio Cost/Income ratio Target. Adjusted Q3- according Q4- to IFRS Q1- from Q2- Q1, 24 Q Q4-2 Q1-3 Q2-3 Q3-3 Q4-3 Q1-4 Q2-4 Q3-4 Q4-4 Q1-5 Q2-5 Q3-5 Q4-5 Q Adjusted according to IFRS from Q1, 24 Dividend SEK/Share Dividend ratio % Dividend per share Dividend ratio 5

6 4. Savings and investments Market shares, total fund assets in Sweden December 31 25, (December 31 24) March 31,26 Robur 26.5% (27.8) Others 25.3% (22.8) Länsförsäkringar 4.1% (4.) SHB 13.7% (13.3) Nordea 14.4% (15.9) SEB 16.% (16.2) Baltic banking - deposits Lithuania 32% Latvia 23% Russia 1% Estonia 44% New savings, net Q1 Q4 Q3 Q2 Q1 SEK bn Market share % February 28, 26 Bank deposits, households Net fund and insurance investments ** Retail bonds Subtotal households Bank deposits, corporate and other Other sales of Robur funds Total Savings banks and jointly owned banks Baltic Banking -deposits* Baltic Banking -fund and insurance Total new savings, net * excluding exchange rate fluctuation ** As of March 31, 26 Deposits from the public Mar 31 Mar 31 Dec 31 Dec 31 Dec 31 Volumes, SEK bn Households, SEK Households, foreign currency Other, SEK Other, foreign currency Total Discretionary asset management Fund management of which unit-linked insurance in own companies Retail bonds and other bonds Total Deposits from the public Q1 Q1 Full year Full year Full year Net flow, SEK bn Household deposits Other deposits, SEK Other deposits, foreign currency Fund management, net savings Fund-allocated insurance, new policies Retail bonds

7 5. Lending 3,5 Bank lending, Sweden SEK bn 3, 2,5 Banks 2, 1,5 Mortgage Institutions 1, 5 Mar-3 May-3 Jul-3 Sep-3 Nov-3 Jan-4 Mar-4 May-4 Jul-4 Sep-4 Nov-4 Jan-5 Mar-5 May-5 Jul-5 Sep-5 Nov-5 Jan-6 Mar-6 Source: Statistics Sweden (Statistiska centralbyrån, SCB) 28 February 26 Lending, excl. repurchase agreements Spintab's loan portfolio March 31, 26 (December 31, 25) March 31, 26 (December 31, 25) Real estate mgmt 21% (2) Municipalities 2% (2) Spintab, households 42% (43) Multi-family housing 17% (18) Agriculture 6% (6) Businesses excl. real estate mgmt 25% (25) Bank lending, households 5% (5) Households, other 1% (1) Hansabank, households 4% (4) Single-family homes 61% (6) Business properties 1% (1) Municipal loans and guarantees 5% (5) Individual condominiums 1% (1) Lending Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Jan 1 Dec 31 Sep 3 Jun 3 SEK bn Private individuals of which Spintab Real estate management Businesses, incl. credit institutions Municipalities * Total excluding FI-Holding FI-Holding 67.7 Total Credit institutions, incl. Swedish National Debt Office Repurchase agreements Total lending 1, * not including municipal companies 7

8 6. Profit trend and key figures Change in net interest income vs. Q1, 25 Change in net commissions vs. Q1, 25 Swedish Banking -411 Payment processing 15 Baltic Banking operations 17 First Securities 191 Baltic Banking investments -112 Asset management 212 Swedbank Markets -39 Brokerage 78 Asset management and Insurance -1 Lending commissions 4 Shared Services and new operations 13 Other 32 Eliminations 217 Total -163 Total 568 Profit trend Q1, Q1, Full year SEK M Net interest income 3,777 3,939 15,539 Net commissions 2,98 1,53 7,17 Net gains and losses on financial items at fair value ,957 Net insurance Share of profit or loss of associates Other income ,339 Total income 6,543 6,274 29,46 Staff costs -2,14-1,88-8,191 Other general administrative expenses -1,391-1,317-5,362 Depreciation/amortization and impairment of tangible and intangible fixed assets Total expenses -3,65-3,333-14,156 Profit before loan losses 2,893 2,941 15,34 Loan losses, net Operating profit 2,843 2,842 15,1 Tax expense ,781 Profit for the period 2,34 2,289 12,229 Attributable to: Shareholders of Swedbank 2,27 2,88 11,879 Minority interest Key figures March 31 March 31 Dec Return on equity, % * Return on total capital,% Loan loss ratio, net, % Total provision ratio for impaired loans, % Capital adequacy ratio, % Primary capital ratio, % C/I ratio before loan losses Interest margin, % Investment margin,% Risk weighted amount/total assets, % Earnings per share, SEK Cash dividend per share, SEK 7.5 * Based on equity attributable to FöreningsSparbanken's shareholders Balance sheet data Mar 31 Mar 31 Dec 31 SEK M Total lending 1,27, , ,773 of which mortgage lending 478,79 44, ,58 Deposits and borrowings from the public 349,16 39, ,894 Equity 56,161 47,334 53,869 Minority interest 162 1, Shareholders' equity 55,999 46,317 53,637 Total assets 1,265,628 1,93,478 1,197,283 Total risk weighted amount for credit risks and market risks 632,45 547, ,52 8

9 6. Profit trend and key figures Quarterly profit trend SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Net interest income 3,777 3,712 3,86 4,28 3,939 4,39 3,979 3,722 Net commissions 2,98 1,896 1,91 1,834 1,53 1,554 1,533 1,531 Net gains and losses on financial items at fair value 26 1, Net insurance Share of profit or loss of associates Other income ,677 1, Total income 6,543 6,997 8,398 7,791 6,274 6,397 6,115 6,17 Staff costs -1,86-1,652-1,651-1,63-1,639-1,531-1,54-1,562 Profit-based staff costs Costs for personnel changes Other expenses -1,391-1,447-1,182-1,416-1,317-1,458-1,282-1,383 Depreciation/amortization and impairments of tangible and intangible fixed assets Total expenses -3,65-3,717-3,364-3,742-3,333-3,376-3,399-3,39 Profit before loan losses 2,893 3,28 5,34 4,49 2,941 3,21 2,716 2,717 Loan losses, net Operating profit 2,843 3,279 4,937 3,952 2,842 2,922 2,583 2,597 Tax expense Profit from continuing operations 2,34 2,64 4,12 3,216 2,289 2,235 1,991 2,65 Profit from discontinued operations after tax 14 1, Profit for the period 2,34 2,64 4,12 3,216 2,289 2,249 3,353 2,229 Attributable to: Shareholders of Swedbank 2,27 2,57 4,37 3,184 2,88 2,63 3,161 2,39 Minority interest Net interest income, Spintab 1,21 1,178 1,269 1,22 1,344 1,319 1,393 1,185 Quarterly development excluding non-recurring income/expenses SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Capital gains/losses 1-1, Profit-based staff costs Costs for personnel changes Profit effect from IAS Total , Operating profit 2,843 3,279 4,937 3,952 2,842 2,922 2,583 2,597 Operating profit excluding items affecting comparability 3,319 3,486 3,625 3,123 3,28 3,174 3,25 2,899 Share of pre tax profit/loss of associates SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Färs & Frosta Sparbank FöreningsSparbanken Sjuhärad Other jointly owned banks in Sweden BGC-Holding EnterCard Holding VPC Other companies First Securities SpareBank 1 Gruppen 7 Aktia Total

10 7. Income SEK M 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, Income, quarterly trends Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Q1 6 Net interest income Commissions Financial items Other Group income SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Interest income 8,91 8,477 8,377 8,725 8,625 8,897 8,655 8,863 Interest expenses -5,133-4,765-4,517-4,697-4,686-4,858-4,676-5,141 Net interest income 3,777 3,712 3,86 4,28 3,939 4,39 3,979 3,722 Commission income Payment processing commissions Lending commissions Brokerage Asset management Other securities commissions Other commissions receivable Commission income, total 2,683 2,53 2,57 2,427 2,88 2,157 2,19 2,87 Commission expenses Payment processing commissions Securities commissions Other commissions payable Commission expenses, total Net commissions 2,98 1,896 1,91 1,834 1,53 1,554 1,533 1,531 Trading, derivatives and fair value option Shares/participating interests of which change in value of which dividend Interest-bearing instruments of which change in value of which interests Other financial instruments of which change in value Total Loans and receivables Change in exchange rate Net gains and losses on financial items at fair value, total 26 1, Other income Net insurance Real estate income IT services Share of profit or loss in associates Other , Total ,839 1, Total income 6,543 6,997 8,398 7,791 6,274 6,397 6,115 6,17 1

11 8. Expenses Cost development Quarterly expenses SEK M 4, SEK M 4,5 3,5 4, 3, 2,5 2, 1,5 1, 3,5 3, 2,5 2, 1,5 1, 5 5 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Q1 6 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Q1 6 Total expenses Group excl. Baltic Banking Baltic Banking Staff costs Other expenses Group expenses SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Staff costs Salaries and other remunerations, including social insurance charges -1,744-1,646-1,652-1,638-1,638-1,52-1,638-1,581 Profit based staff costs of which: Kopparmyntet Other profit-based staff costs Other staff costs Staff costs, total -2,14-2,19-2,49-2,153-1,88-1,783-1,982-1,864 Other expenses Expenses for premises IT expenses Telecommunications, postage Depreciation/amortization and impairments of tangible and intangible assets Other Total other expenses -1,546-1,68-1,315-1,589-1,453-1,593-1,417-1,526 Total costs -3,65-3,717-3,364-3,742-3,333-3,376-3,399-3,39 of which Baltic Banking Number of full-time positions Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun Group excluding Baltic Banking Permanent employees 8,52 8,579 8,541 8,559 8,599 8,718 8,731 8,765 Temporary employees of which First Securities of which EnterCard AS Total 8,836 8,922 8,95 8,911 8,932 9,87 9,134 9,191 Baltic Banking 7,459 7,226 6,847 6,497 6,255 6,69 6,49 5,935 FI-Holding 163 Total 16,295 16,148 15,752 15,48 15,187 15,156 15,183 15,289 11

12 9. Profit per business area Business area accounting principles The business area report is based on Swedbank s accounting principles,organization and internal accounts. Market-based compensation is applied between business areas, while all expenses for IT, other shared services and Group Staffs are transferred at full cost-based internal prices to the business areas. Executive Management expenses are not distributed. The Group s equity allocated to shareholders is allocated to each business area based on capital adequacy rules and estimated capital requirements. Return on equity for the business areas is based on operating profit less estimated tax and minority interests in relation to allocated equity. Swedish Banking Swedish Banking comprises the parent bank s distribution channels in the form of branches, ATM s and the telephone and Internet banks. Also included are the subsidiaries Spintab, FöreningSparbanken Finans, FöreningsSparbanken Fastighetsbyrå, FöreningsSparbanken Juristbyrå and FöreningsSparbanken Företagsförmedling. Swedish Banking SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income 2,752 2,916 3,99 3,18 3,163 3,225 3,39 Net commissions 1, , Net gains and losses on financial items at fair value Other income ,697 1, Share of profit or loss of associates Total income 4,124 4,35 6,132 5,56 4,328 4,379 4,551 Staff costs ,121-1,52-1,185-1,41-1,56-1,231 IT expenses Other expenses ,127-1,11-1,171-1,87-1,179-1,89 Depreciation/amortization Total expenses -2,152-2,464-2,246-2,571-2,338-2,449-2,525 Profit before loan losses 1,972 1,841 3,886 2,935 1,99 1,93 2,26 Loan losses Operating profit/loss 1,978 1,884 3,851 2,96 1,93 1,88 1,949 Tax expense Profit for the period 1,426 1,349 3,187 2,386 1,39 1,342 1,46 Profit for the period attributable to: Shareholders of Swedbank 1,425 1,348 3,185 2,386 1,388 1,342 1,46 Minority Allocated equity 26,621 25,482 25,19 25,89 24,51 24,325 24,325 Return on allocated equity,% Income items Income from external customers 3,627 3,855 5,696 5,121 3,935 4,72 4,244 Income from transactions with other business segments Business volumes, SEK billion Lending Deposits Mutual funds & insurance Other investment volume Investments in associates Risk-weighted volume Total assets Total liabilities Full-time employees 6,25 6,266 6,287 6,312 6,447 6,615 6,669 12

13 9. Profit per business area Baltic Banking operations Baltic Banking operations are defined as the subsidiary Hansabank with the adjustment of lower allocated equity being added to the business area compared with Hansabank s statutory equity. The adjustment is made according to the estimated need for equity. From this follows an adjustment compared to the report Hansabank publishes. Baltic Banking operations SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Share of profit or loss of associates Total income 1,359 1,341 1,27 1,187 1,28 1,2 97 Staff costs IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit Tax expense Profit for the period Profit for the period attributable to: Shareholders of Swedbank Minority Allocated equity 7,654 7,132 7,18 7,175 6,268 2,852 2,852 Return on allocated equity,% Income items Income from external customers 1,359 1,341 1,27 1,187 1,28 1,2 97 Business volumes, SEK billion Lending Deposits Mutual funds & insurance Investments in associates Risk-weighted volume Total assets Total liabilities Full-time employees 7,459 7,226 6,847 6,497 6,255 6,69 6,49 Baltic Banking Investment The effect of FöreningsSparbanken s acquisition and ownership of Hansabank is reported in Baltic Banking Investments. These effects include goodwill, deduction of minority interest, the equity during the period the subsidary was not whollyowned and the amortization of the revalued loan portfolio found during the acquisition in April 25. Baltic Banking Investment SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Share of profit or loss of associates Total income Staff costs IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses 1 Operating profit Tax expense -8 Profit for the period Profit for the period attributable to: Shareholders of Swedbank Minority Allocated equity 7,682 7,295 7,295 4,29-1,371 Return on allocated equity,% neg. neg. neg. neg Business volumes, SEK billion Total assets Total liabilities Full-time employees 13

14 9. Profit per business area Swedbank Markets Swedbank Markets comprises capital market products and various types of project and corporate finance. It also has customer responsibility for financial institutions. In addition to operations in Sweden, the business area includes the international branch in New York, First Securities in Norway and the representative office in Shanghai. Swedbank Markets SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Share of profit or loss of associates Total income Staff costs IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Tax expenses Profit for the period Profit for the period attributable to: Shareholders of Swedbank Minority Allocated equity 3,619 2,99 3,64 2,955 2,691 2,45 2,45 Return on allocated equity,% Income items Income from external customers Income from transactions with other business segments Business volumes, SEK billion Lending Deposits Mutual funds & insurance Other investment volume Investments in associates Risk-weighted volume Total assets Total liabilities Full-time employees Asset Management and Insurance Asset Management and Insurance comprises the Robur Group and its operations in fund management, institutional and discretionary asset management, insurance and individual pension savings. Asset Management and Insurance SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Total income Staff costs IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Tax expense Profit for the period Profit for the period allocated to: Shareholders of Swedbank Allocated equity 1,67 1,669 1,669 1,669 1,67 1,547 1,547 Return on allocated equity,% Income items Income from external customers Commissions paid to other business segments Business volumes, SEK billion Lending Deposits Mutual funds & insurance Other investment volume Risk-weighted volume Total assets Total liabilities Full-time employees

15 9. Profit per business area Shared Services and New operations The business area includes IT and other service functions, Treasury, Group Staffs, the Group's own insurance company, Sparia, the international branches in Norway, Finland and Denmark, the representative office in Tokyo and the shareholdings in SpareBank 1 Gruppen and Aktia, and the effects on the Group of the investment in Hansabank. Shared Services and New operations SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Share of profit or loss of associates Total income 73 1, , Staff costs IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Appropriations Tax expense Discontinued operations 14 1,362 Profit for the period ,246 Profit for the period attributable to: Swedbank s shareholders ,246 Minority Allocated equity 7,572 3,769 2,786 4,526 11,487 6,192 6,192 Return on allocated equity,% neg Income items Income from external customers Income from transactions with other business segments Business volumes, SEK billion Lending 4 Investments in associates Risk-weighted volume Total assets Total liabilities Full-time employees 1,679 1,687 1,681 1,666 1,67 1,689 1,66 Eliminations Eliminations SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Net interest income Net commissions Net gains and losses on financial items at fair value Other income Total income Staff costs IT expenses Other expenses Total expenses Business volumes, SEK billion Mutual funds & insurance Other investment volume Total assets, SEK billion Total liabilities, SEK billion

16 1. Balance sheet Balance sheet March 31, 26 Balance sheet Mar 31, Mar 31, Dec 31, SEK M Loans to credit institutions 159,14 127, ,348 Loans to the public 868, ,11 822,425 Bonds/interest-bearing securities 89,792 83,931 87,56 Shares and participating interests 72,26 51,833 63,338 for which customers bear the investment risk 61,722 43,844 55,8 Derivatives 26,97 33,517 32,17 Other assets 49,315 38,955 39,496 Total assets 1,265,628 1,93,478 1,197,283 Amounts owed to credit institutions 128,24 122,129 11,66 Deposits and borrowings from the public 349,16 39, ,894 Debt securities in issue 536,65 45, ,582 Liabilities for which the customers bear the investment risk 61,85 43,854 55,249 Derivatives 26,3 34,497 3,144 Other liabilities and provisions 75,152 54,693 59,258 Subordinated liabilities 32,727 3,63 32,221 Equity 56,161 47,334 53,869 Minority interest 162 1, Shareholders' equity 55,999 46,317 53,637 Total liabilities, provisions and shareholders' equity 1,265,628 1,93,478 1,197,283 SEK bn Loans, Private individuals, 81 Other loans to the public, 38 Mortgage loans, 479 Credit institutions, 159 Bonds/interest-bearing securities, 9 Derivatives, 27 Other assets, 122 Household deposits, 19 Other deposits from the public, 159 Debt securities in issue, 537 Credit institutions, 128 Derivatives, 26 Other liabilities, 17 Shareholders' equity, 56 Loans Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Jan 1 Dec 31 Sep 3 SEK bn Households of which Spintab Real estate management Retail, hotels, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other corporate lending Municipalities * Total Credit institutions incl. The Swedish National Debt Office Repurchase agreements Total lending * Not including municipal companies Deposits Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 SEK bn Transaction accounts Savings accounts Overnight deposits Other Currency deposits Total deposits from public of which non financial companies

17 11. Swedish interest rates Swedish interest rates % Dec/2 Mar/3 Jun/3 Sep/3 Dec/3 Mar/4 Jun/4 Sep/4 Dec/4 Mar/5 Jun/5 Sep/5 Dec/5 Mar/6 1-year Swap 9 days STIBOR Published rates, Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 household deposits Private accounts SEK - 15, SEK 15, e-savings account ,1* Savings capital accounts SEK - 5,.75,5* SEK 5, ,* SEK - 1, SEK 1, Fixed rate deposits 3-months year year year * As of February 2nd, 26 Published rates Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Spintab mortgages months year year

18 12. Funding and interest rate risks Maturity distribution, Spintab's lending, March 31, 26 Fair value SEK M <3 mos. 3-6 mos. 6-9 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. > 5 yrs. addition Total Retail 134,419 14,529 1,68 17,612 51,189 42,848 23,978 29,4 14, ,391 Other 47,695 7,367 4,599 8,57 21,532 18,497 11,319 1,538 9, ,318 Total 182,114 21,896 15,279 25,669 72,721 61,345 35,297 39,578 23,149 1, ,79 Maturity distribution, Spintab's funding, March 31, 26, nominal amount SEK M <3 mos. 3-6 mos. 6-9 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. > 5 yrs. Total Other 167,588 37,189 8,743 13, ,522 46,6 45,519 36,567 14,3 486,535 Total 167,588 37,189 8,743 13, ,522 46,6 45,519 36,567 14,3 486,535 Funding and capital structure, March 31, 26 Primary Capital SEK M Undated Supple- Risk- capital adequacy Debt of which Subordinated subordinated Primary mentary weighted ratio ratio securities bonds loans loans capital capital assets % % FöreningsSparbanken AB 129,985 56,45 16,734 11,8 37,8 2,72 233, Spintab 42, ,571 2,395 1,8 22, 4, , The Group 536,65 374,688 19,127 13,599 41,191 24, , Effect on value of assets and liabilities in SEK and foreign currency, including derivatives if interest rates increase by 1 b.p., March 31, 26 SEK M <3 mos. 3-6 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. 5-1 yrs. >1 yrs. Total Total the Group ,263 of which foreign currency of which financial current assets at fair value, the group of which foreign currency

19 Doubtful claims of total lending:.9 percent (.18) Doubtful claims gross decreased by 25 percent to SEK 1,97 M (2,619) Provision ratio for doubtful claims increased to 188 percent (151) Loan losses decreased by 49 percent to SEK 5 M (99) Loan loss level decreased to net.2 percent (.5) (Figures in parentheses refer to March 31 25) 13. Asset quality Group lending by collateral March 31, 26 (March 31, 25) Other properties 14% (13) Unsecured 8% (8) Chattel mortgages 2% (2) Personal guarantee 2% (2) Municipalities and county councils 6% (7) Other collateral 8% (7) Residential properties incl. Condominiums 6% (61) Specification of claims Book Specific Collective Provisions for Book value of Book value Book value of Sector/Industry value before provisions provisions collectively claims after of doubtful unsettled claims SEK M accounting for for individually for individually valued accounting for claims for which March 31, 26 provisions assessed assessed homogenous provisions (unsettled) interest is claims claims groups of entered as claims income Private individuals 427, , Real estate management 169, , Retail, hotels, restaurants 31, , Construction 11, , Manufacturing 27, , Transportation 13, , Forestry and agriculture 42, , Other service businesses 26, , Other corporate lending 59, , Municipalities* 14,16 14,16 Lending 823, , , Credit institutions incl. National Debt Office 7, ,474 Repurchase agreements - Credit institutions incl. National Debt Office 92,18 92,18 Repurchase agreements - public 45,195 45,195 Total lending to credit institutions and the public 1,3, , ,27, * Not including municipal companies Credit exposure Mar 31 Dec 31 Change Change SEK M, book value % Sweden 856, ,16 3,799 4 OECD countries* 188, ,347 15,895 9 of which Denmark 21,795 22, of which Iceland of which Norway 22,241 14,16 8, Baltic region 16,231 95,372 1, Russia 5,864 4,648 1, Latin America of which Brazil Japan 1,552 2, Rest of East Asia 1,777 1, of which South Korea of which China 1, Other countries 4,8 3, Total 1,164,71 1,16,259 58,442 5 * Excluding Sweden, Japan, Hungary, Mexico, Poland, Turkey, Slovakia, South Korea and the Czech Republic. 19

20 13. Asset quality Loan losses, quarterly trends SEK M Q1 6 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Loan losses, Group Provisions Established Recoveries Change in value of property taken over Total Loan losses by business area Swedish Banking Baltic Banking Swedbank Markets Shared Services and new operations Total Loan losses by sector Households Real estate management Retail, hotels, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other corporate lending Other Total Doubtful claims by business area Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 SEK M Doubtful claims gross Swedish Banking 1,428 1,645 1,682 1,68 2,87 2,138 Baltic Banking Swedbank Markets Shared Services and new operations Total 1,97 2,219 2,495 2,261 2,619 2,579 Doubtful claims provisions Swedish Banking 2,54 2,652 2,911 2,882 3,99 3,11 Baltic Banking 1, Swedbank Markets Shared Services and new operations Total 3,694 3,784 3,966 3,879 3,946 3,96 Doubtful claims net by business area Swedish Banking -1,76-1,9-1,17-1, Baltic Banking Swedbank Markets Shared Services and new operations Total -1,724-1,565-1,471-1,618-1,327-1,327 2

21 14. Organization structure Group operational structure Board of Directors Internal Audit President and CEO Staffs Swedish Banking Retail and corporate banking including asset management: North Region Stockholm Region Central Region Southeast Region West Region Öresund Region Customer Offerings and Products Baltic Banking Retail and corporate banking including asset management: Estonia Latvia Lithuania Corporate banking: Russia Swedbank Markets Investment and merchant banking, customer responsibility for financial Institutions. Swedbank Markets, Sweden First Securities, Norway Swedbank New York Swedbank Shanghai Shared Services IT development, Sweden IT operations, Sweden Common support functions Strategic and International Banking Swedbank Luxembourg (banking for Swedish expatriates) Swedbank Copenhagen Swedbank Helsinki Swedbank Oslo Swedbank Tokyo Cooperating savings banks Group legal structure FöreningsSparbanken AB AS Hansabank AB Spintab Robur AB FöreningsSpar - banken Finans AB Swedbank Luxemburg S.A. Sparia Försäkrings AB FöreningsSpar - banken Juristbyrå AB FöreningsSpar - banken Fastighetsbyrå AB FöreningsSpar - banken Företagsförmedling AB AS Hansabanka (Latvia) AB Bankas Hansabankas (Lihuania) Hansabank OAO (Russia) Robur Kapitalförvaltning AB FöreningsSparbanken Jordbrukskredit Robur Försäkring AB Robur Fonder AB Allround AB FöreningsSparbanken Öland AB (6%) First Securities ASA (51%) EnterCard Holding AB (6%) Eskilstuna Rekarne Sparbank AB (5%) Babs Paylink AB (49%) Bergslagens Sparbank AB (48%) FöreningsSpar - banken Sjuhärad AB (48%) FöreningsSpar - banken Söderhamn AB (4%) Vimmerby Sparbank AB (4%) DocHotel i Stockholm AB (33%) Färs och Frosta Sparbank AB (3%) - BGC-Holding AB (29%) Finansiell ID-Teknik AB (28%) Privatgirot AB (22%) CEKAB (21%) VPC AB (2%) 21

22 14. Organization structure Group Executive management * Jan Lidén, President and CEO. Gith Bengtsson, Union representative. Ingrida Bluma, Head of Hansabank in Latvia. Anders Ek, EVP, Head of Strategic and International Banking. Kjell Hedman, EVP, Head of Customer Offerings and Products. Bengt-Erik Lindgren, EVP, Deputy Head of Swedish Banking and Manager Mid region. Erkki Raasuke CEO Hansabank and Head of Baltic Banking. Annika Wijkström, EVP, Head of Swedbank Markets. * Mikael Inglander, Executive Vice President and Manager of the Stockholm Region, has been appointed CFO and Head of Group Staffs in Swedbank. Mikael Inglander will assume his new position as of May 1, 26 and he will also become a member of Group Executive Management. Credit limit structure Board of directors Unlimited Central headquarters Board credit- and capital committee Approx. SEK 6 bn Central credit committee SEK 15/5 M Local bank Local board SEK 1/2/3/4 M Depending on size of bank Local delegation SEK 7.5/15/2/3 M Two officers jointly SEK 1.5/3/5 M 22

23 15. Owners and shares Shareholders, March 31, 26 % Ownership structure March 31, 26 (March 31, 25) Savings bank foundations 21.1 Savings banks 8.3 Robur funds 3.3 Franklin-Templeton Funds 2.9 SHB/SPP Funds 2.7 Alecta 2.6 FöreningsSparbanken profit-sharing funds 2.3 AMF Pension 2.2 Fourth National Pension Fund SEB Funds Swedish institutions, 34.1% (42.6) Savings banks, 8.3% (8.2) Swedish general public, 12.% (11.4) Other International investors 21.6 Other Swedish institutions 17.3 Swedish general public 12. Total 1. Savings banks foundations, 21.1% (2.9) International investors, 24.5% (16.9) Number of shareholders: Number of shares: Number of shares outstanding: Repurchased shares Source: DN Ägarservice and FöreningsSparbanken 33,293 53,31, ,373,412 14,937,531 Data per share Mar 31 Mar 31 Dec 31 Dec 31 Dec 31 SEK Earnings Equity Dividend Price, end of period Yield, % Price/Equity, % Changes in subscribed capital Year Transaction Par value/ Price, % Added/repurchased Accumulated no. of Share capital share no. of shares shares outstanding SEK M 199 4,88, 2, New issue 5 1 1,, 5,88, 2, New issue , 6,84, 3,42 New issue 5 1 1,2, 8,4, 4, Split 5:1 1 32,16, 4,2, 4,2 New issue 1 1 1,, 5,2, 5, Split 1: ,8, 52,, 5, New issue ,, 54,, 5, New issue/ reduction 1 65/63-261,819, ,18,72 2,782 Bonus issue 2 278,18,72 5, New issue ,717,269 35,897,971 7,18 New issue , ,872,562 7, Bonus issue 2 175,936, ,88,843 1, Share repurchase 2-14,937, ,871,312 1, New issue 2 1 2,52,1 515,373,412 1,66 23

24 For further information, please contact: Henrik Kolga, Head of Communications Håkan Wilson, Head of Investor Relations Robert Matulin, Investor Relations Lina Sjöström, Investor Relations Investor Relations, fax address: Investor Relations on the Internet: This presentation can be downloaded/accessed from Swedbank s web-site. Investor Relations section is found on: Postal address: Visitors address: FöreningsSparbanken Brunkebergstorg 8 S Stockholm, Sweden Stockholm, Sweden Financial Calendar - release dates: Interim report second quarter 26 August 1, 26 Capital Markets Day, Stockholm September 6, 26 Interim report third quarter 26 October 26, 26 Rating March 26 Standard & Poor's Moody s Fitch Short Long Short Long BFSR* Short Long FöreningsSparbanken AB A1 A P1 Aa3 B F1 A+ Spintab A1 - P1 Aa3 - F1+ AA- Hansabank - - P1 A1 C+ F1 A * Bank Financial Strength Ratings 24