Facts FöreningsSparbanken (Swedbank)

Transcription

1 27 October 25 Facts FöreningsSparbanken (Swedbank) Contents page 1. Market position 2 2. International presence 4 3. Financial and strategic targets 5 4. Savings and investments 6 5. Lending 7 6. Profit trend and key figures 8 7. Profit trend Hansabank 1 8. Income Expenses Profit per business area Balance sheet Interest rates Funding and interest rate risks Asset quality Organization structure Owners and shares 24

2 1. Market position Our customer base 3 September 25 3 September 25 Product range and market position, Sweden Households Public sector Swedbank 4.1 million Swedbank 216 municipalities Jointly owned.4 million Jointly owned 2 municipalities Savings banks 1.3 million Savings banks 93 municipalities Hansabank 4.4 million Swedbank 21 county councils Authorities Mortgage lending Consumer credits Household deposits Mutual funds 2 Corporate lending Equity linked bonds SME:s Swedbank Jointly owned Savings banks Hansabank Swedbank Nationwide organizations 248, Unions 24, Cooperative 9, Religious 172, 1 Individual pension savings Premium pension savings Card issuing and acquiring Internet banking Telephone banking Real estate brokerage Strong positions in Unit-linked insurance Business deposits Leasing Stock brokerage Large companies Swedbank and Hansabank Swedbank and Hansabank 3 September 25 1,43 (1,64) branches 15,868 (15,156) employees 1.2 (1.1) M private customers 534, (57,) corporate customers 2,122 (2,15) ATM's 3.5 (3.2) M Internet banking customers 2.7 (2.8) M Telephone banking customers Profit for the period Hansabank 17% Swedbank 83% Customers Lending Hansabank 1% Branches Swedbank 9% Including savings banks and partly owned banks. (December 24). Hansabank 51% Hansabank 37% Swedbank 49% Swedbank 63% Products per private individiuals Number of customers, thousand Products per corporate customer Average number of Numbers of Average number of products Sweden customers, products Sweden Q thousand Q Q Q Q Q Q Q >1 Dec-4 Sep >1 Dec-4 Sep-5 2

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

4 2. International presence 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 Home markets, universal banking Sweden - Swedbank Estonia - Hansabank Latvia - Hansabank Lithuania - Hansabank Other markets, nische banking Denmark - Swedbank branch Finland - Swedbank branch Norway - Swedbank branch, investment banking through First Securities (51% owned) Spain - Rep. office in Marbella Russia - Corporate banking and leasing in Moscow, Kaliningrad and St Petersburg UK - Merchant/investment banking in London US - Merchant/investment banking in New York Luxemburg - banking for affluent Swedes living abroad China - Rep. office in Shanghai Japan - Rep. office in Tokyo Collaboration/alliances Norway % ownership in SpareBank 1 Gruppen Finland - 1.1% ownership in Aktia Country Sweden Norway Finland Baltic region Total Swedbank First Securities Aktia Hansabank Jointly owned banks SpareBank 1 Gruppen Savings banks Ownership 51 percent 1.1 percent 1 percent interest 19.5 percent Investment SEK 299 M SEK 9 M SEK 18,769 M SEK 2,38 M SEK 1,33 M Branches ATM's , Household million 4.4 million 1.2 million customers Corporate 248, + 24, + 9, 172, 534 customers 4

5 3. Financial and strategic targets Strategy Sweden The Swedish market is the base and home market for Swedbank s operations. Swedbank will be a full-service bank with a strong local presence throughout the country through its branch network and the cooperations with independent savings banks and partly owned banks. Swedbank will be a bank for everyone and offer customers in every segment an attractive range of financial products. Increased customer satisfaction is guiding principle for Swedbank s strategic framework. 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 long-term riskfree interest rate plus a normal risk premium. The Group's C/I ratio shall not exceed.5. The primary capital ratio shall be 7 percent over the long term. Swedbank's objective is to maintain a dividend equal to at least 4 percent of net profit. Return on equity Capital adequacy % % 14, 12, 1, 8, 6, 4, 2, Q3-3 Q4-3 Dividend SEK/Share 7 Q1-4 Q2-4 Q3-4 Q4-4 Q1-5 Q2-5 Q3-5 Dividend ratio % 75, Q3-3 Q4-3 Q1-4 Q2-4 Q3-4 Actual capital adequacy ratio Target primary capital ratio Q4-4 Q1-5 Q2-5 Q3-5 Primary capital ratio Dividend ratio 57% 45% 56% 7% 48% 4% Dividend growth 7% 1% 5% 13% Yield, per year-end * 4,% 3,81% 4,23% 5,34% 4,8% 3,93% * Based on share price at year-end Dividend per share 75 5

6 4. Savings and investments Market shares, total fund assets in Sweden Robur, fund assets 3 Juni 25 (31 December 24) 3 September 25 % Robur Others 27.4% 24.3% (27.8) (22.8) Länsförsäkringar 4.2% (4.) SHB 13.3% (13.3) Nordea 14.8% (15.9) SEB 16.% (16.2) Sep-3 Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Swedish stocks Foreign stocks Interest-bearing securities Sep-5 New savings, net Q3 Q2 Q1 Q4 Q3 SEK bn Market share % 31 Aug 25 Bank deposits, households 5,7 5,6 5, -5,4 4,1 25,2 Net fund and insurance investments 1,3 1,6 3,5 1, 1,5 13,1 Retail bonds -,4,2 1,3,5,5 22,5 Subtotal households 6,6 7,4 9,8-3,9 6,1 19,2 Bank deposits, corporate and other -5,5-1,3 18,2-4,4-7,4 Other sales channels in Sweden 2,2,8 -,7,2 1,3 Total 3,3 6,9 27,3-8,1, Savings banks and jointly owned banks,3,8 1,5,5,5 Hansabank -deposits* 1,2 6, 4,3 1,8 1,8 Hansabank -fund and insurance,9,8,5 1,2,4 Total new savings, net 5,7 14,5 33,6-4,6 2,7 * excluding exchange rate fluctuation Deposits from the public Sep 3 Sep 3 Dec 31 Dec 31 Dec 31 Volumes, SEK bn Households, SEK 152,7 141,8 136,4 135,4 129,1 Households, foreign currency 26,7 19,5 2,3 16,7 14,9 Other, SEK 81,1 76,3 78,7 87, 78,5 Other, foreign currency 58,4 47,7 41,7 35,8 31,2 Total 318,9 285,3 277,1 274,9 253,7 Discretionary asset management 22,9 22,5 21,3 22,6 17,9 Fund management 35,1 272,8 285,9 248,6 28,3 of wich unit-linked insurance in own companies 51,9 41, 41,3 37, 3,8 Retail bonds and other bonds 13, 1,8 11,5 1,5 8,1 Total 74,9 591,4 595,8 556,6 488, Deposits from the public Jan-Sep Jan-Sep Full year Full year Full year Net flow, SEK bn Household deposits 24, 9,2 4,6 8,1 11,7 Other deposits, SEK 2, -1,7-8,3 8,5 16,8 Other deposits, foreign currency 16, 11,9 5,9 4,6-4,7 Fund management, net savings 12,3 11,9 12,7 14,1 9,7 Fund-allocated insurance, new policies 1,7 1,1 1,3 1,3 2,2 Retail bonds 1,5,3 1, 2,4 1,2 6

7 5. Lending SEK bn 3 Bank lending, Sweden Banks Mortgage Institutions 1 5 Jun-2 Sep-2 Dec-2 Mar-3 Jun-3 Sep-3 Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Sep-5 Source: Statistics Sweden (Statistiska centralbyrån, SCB), 31 August 25 Lending, excl. repurchase agreements Spintab's loan portfolio 3 September 25 (31 December 24) 3 September 25 (31 December 24) Real estate mgmt 21% (2) Municipalities 2% (2) Spintab, households 43% (43) Multi-family housing 18% (19) Agriculture 6% (6) Businesses excl. real estate mgmt 24% (25) Bank lending, households 5% (6) Households, other 1% (1) Hansabank, households 4% (3) Single-family homes 6% (6) Business properties 1% () Municipal loans and guarantees 5% (6) Individual condominiums 1% (9) Lending Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 SEK bn Private individuals 42,4 389,7 374, 367,8 359,2 351,8 342,1 337,5 of which Spintab 325,2 315,6 36,3 3,7 293,9 288,1 278, 273,6 Real estate management 157,6 155,4 148,7 142,1 139,4 139,8 137,1 136,7 Businesses, incl. credit institutions 187,8 185,5 173,6 17,6 167,9 169, 166, 164,8 Municipalities * 14,2 14,3 14,4 13,8 13,5 13,5 13,4 14,2 Total excluding FI-Holding 762, 744,9 71,7 694,3 68, 674,1 658,6 653,2 FI-Holding 67,7 67,9 67,9 Total 762, 744,9 71,7 694,3 68, 741,8 726,5 721,1 Credit institutions, incl. Swedish National Debt Office 63,6 63,5 66,6 6, 59,6 9,7 52,8 54,7 Repurchase agreements 17,5 1, 12,2 8,6 96,5 7,4 67,8 5,6 Total lending 933,1 98,4 879,5 834,9 836,1 92,9 847,1 826,4 * not including municipal companies 7

8 6. Profit trend and key figures Change in net interest income Jan - Sep 25 compared to Jan - Sep 24, SEK M Change in net commission income Jan - Sep 25 compared to Jan - Sep 24, SEK M Swedish retail operations -159 Payment processing 293 Swedbank Markets -12 First Securities 283 International banking operations 349 Asset management 259 Asset management and insurance -3 Brokerage 48 Shared services and Group Staffs 115 Lending commissions -7 Eliminations * 576 Other -17 Total 758 Total 769 * Effect of change of accounting principles in the reporting of net interest income from trading operations Profit trend Q1-3 Q1-3 Full year SEK M Net interest income Net commission income Net gains and losses on items at fair value Net insurance Share of profit/loss of associated companies Other income Total income Staff expenses Other administrative expenses Depreciation, amortization and write-down of tangible and intangible fixed assets Total expenses Profit before loan losses Loan losses Operating profit Tax Profit from continuing operations Profit from discontinued operations after tax Profit for the period Attributable to: Shareholders of Swedbank Minority interest Key figures Sep 3 Sep 3 Dec Return on equity (ROE), % * 27,3 22,8 21,8 Return on total capital (ROA),% 1,44,96 1, Loan loss ratio, net, %,5,7,7 Provision ratio for doubtful claims, % Capital adequacy ratio, % 9,9 11,3 11,6 Primary capital ratio, % 6,5 7,7 8,2 C/I ratio before loan losses,46,56,55 Interest margin, % 1,36 1,32 1,36 Investment margin,% 1,43 1,4 1,44 Risk weighted amount/total assets (RWA/TA), % Earnings per share (EPS), SEK 18,45 13,48 17,5 Dividend per share (DPS), SEK 6,5 * Based on equity attributable to FöreningsSparbanken's shareholders Balance sheet data Sep 3 Sep 3 Dec 31 SEK M Total lending of which mortgage lending Deposits and borrowings from the public Equity Minority interest Shareholders' equity Total assets Risk weighted amount

9 6. Profit trend and key figures Quarterly profit trend SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on items at fair value Net insurance Share of profit/loss of associated companies Other income Total income Staff expenses Profit-based staff expenses Expenses for personnel changes Other expenses Depreciation and write-down of tangible and intangible fixed assets Total expenses Profit before loan losses Loan losses Operating profit Tax Profit from continuing operations Profit from discontinued operations after tax Profit for the period Attributable to: Shareholders of Swedbank Minority interest Net interest income, Spintab Quarterly development excluding non recurrent items SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Capital gains/losses Profit-based staff expenses Costs for personnel changes Profit effect from IAS Total Operating profit Operating profit excluding items affecting comparability Share of profit/loss of associated companies SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 First Securities FöreningsSparbanken Sjuhärad Färs & Frosta Sparbank Other jointly owned banks in Sweden VPC BGC-Holding Other companies SpareBank 1 Gruppen 7 6 Aktia Total

10 7. Profit trend Hansabank Hansabank, quarterly development (according to Hansabank's financial reporting) SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Net insurance Share of profit/loss of associated companies Other income Total income Staff expenses Profit-based staff expenses Other expenses Depreciation, amortization and write-down of tangible and intangible fixed assets Total expenses Profit before loan losses Loan losses Operating profit Tax Profit for the period Attributable to: Shareholders Minority interest Hansabank, balance sheet data Sep 3 Sep 3 Dec 31 (according to Hansabank's financial reporting) SEK M Total assets Lending to the public Shareholders' equity Minority interest Shareholders' equity Return on equity, % 26,1 24,8 24,7 1

11 8. Income SEK M Quarterly trends, income Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Net interest income Commissions Financial items Other Group income SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Interest income Interest expenses Net interest income Commissions receivable Payment processing commissions Lending commissions Brokerage Asset management Other securities commissions Other commissions receivable Total commissions receivable Commissions payable Payment processing commissions Securities commissions Other commissions payable Total commissions payable Net commission income Financial items classified as trading as well as derivatives Shares and participations interests Change in value Dividend Interest-bearing securities Change in value Interests Other financial instruments Change in value Total Other financial instruments at fair value Shares and participations interests Change in value Dividend Interest-bearing securities Change in value Total Exchange rate fluctuation Net profit on financial operations at fair value, total Other income Insurance operations' net interest income Real estate income Income from independent savings banks Share of profit/loss in associated companies Other Total Total income

12 9. Expenses Development of expenses Quarterly expenses SEK M SEK M Q3 3 Q4 3 Q1 4 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Total expenses Swedish operations International banking operations Staff expenses Other expenses Group expenses SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Staff expenses Salaries and remuneration, including social insurance charges Profit based staff expenses Of wich: Kopparmyntet Other profit-based staff expenses, Sweden Profit-based staff expenses, Hansabank Other staff expenses Total staff expenses Other expenses Premises Computer and IT Telecommunications, postage Depreciation and write-down tangible and intangible assets Other Total other expenses Total expenses Of which International Banking Number of full-time positions Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Swedish operations Permanent employees Temporary employees Total Hansabank First Securities FI-Holding Total

13 1. Profit per business area Business area accounting principles The business area report is based on Swedbank s internal accounts and organization, wich applied through 31 August 25. The organizational change, wich applies from 1 September, will be incorporated into the business area report from the fourth quarter of 25. Market-based compensation is applied between business areas, while all costs for IT, other shared services and Group Staffs are transferred at full cost-based internal prices to the business areas. Executive Management costs are not distributed. The Group s equity allocated to shareholders (the year s opening equity balance excluding the dividend) is allocated to each business area at the beginning of the year. The allocation is based on capital adequacy rules and estimated capital requirements during the year. Estimated interest on allocated equity is calculated based on average Swedish demand loan rates. Goodwill and all other surplus values including the effects on profit, financial expense and amortization, are allocated to each business area. Return on equity is based on allocated shareholders equity for the business areas. The return for the business areas is based on operating profit less estimated tax and minority interests. Swedish Retail Banking Swedish Retail Banking has responsibility for private and commercial customers, organizations, municipalities and county councils in Sweden as well as the parent bank s distribution channels in the form of branches, ATM s and the telephone and Internet banks. Also included are the unit for customer offerings and products (including the subsidiaries Spintab, FöreningSparbanken Finans and Kundinkasso, which was sold during the third quarter), EnterCard, partly owned Swedish banks, private banking operations in Luxembourg, FöreningsSparbanken Fastighetsbyrå AB (real estate brokerage), FöreningsSparbanken Juristbyrå AB (legal services). Since May 25 banking operations are carried out in Copenhagen as well. Swedish Retail Banking SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Share in profit of associated companies etc Total income Staff expenses IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Tax Profit for the period Profit for the period attributable to: Swedbank's shareholders Minority Allocated equity Return on allocated equity,% 49,1 33,1 22,1 21,4 22,9 2, 2,6 Income items Income from external customers Income from transactions with other segments Business volumes, SEK billion Lending Deposits Mutual funds & insurance Other investment volume Shares and participating interests in associated companies, SEK billion Risk-weighted volume, SEK billion Total assets, SEK billion Total liabilities, SEK billion Full-time employees

14 1. Profit per business area Swedbank Markets Swedbank Markets comprises Investment Banking and Merchant Banking as well as responsibility for financial institutions. In addition to operations in Sweden, the business area includes the international branches in Oslo, London and New York, First Securities in Norway and the representative office in Shanghai. Swedbank Markets SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Share in profit of associated companies etc Total income Staff expenses IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Tax Profit for the period Profit for the period attributable to: Swedbank s shareholders Minority Allocated equity Return on allocated equity,% 17, 32,2 24, 38,3 14,1 32,1 32,4 Income items Income from external customers Income from transactions with other segments Business volumes, SEK billion Lending Deposits Mutual funds & insurance Other investment volume Shares and participating interests in associated companies, SEK billion Risk-weighted volume, SEK billion Total assets, SEK billion Total liabilities, SEK billion 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 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Total income Staff expenses IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Operating profit/loss Tax Profit for the period Profit for the period allocated to: Swedbank s shareholders Allocated equity Return on allocated equity,% 45,8 38,8 38,3 39,8 41,4 4,1 39,6 Income items Income from external customers Commissions paid to other business areas Business volumes, SEK billion Mutual funds & insurance Other investment volume Risk-weighted volume, SEK billion Total assets, SEK billion Total liabilities, SEK billion Full-time employees

15 1. Profit per business area International Banking The International Banking business area includes the subsidiary Hansabank and the shareholdings in SpareBank 1 Gruppen and Aktia. Due to smaller ownership interests, SpareBank 1 Gruppen is no longer reported as an associated company as of June 24, nor Aktia as of December 24. International Banking SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Share in profit of associated companies Total income Staff expenses IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit Tax Discontinued operations Profit for the period Profit for the period attributable to: Swedbank s shareholders Minority Allocated equity Return on allocated equity,% 17,7 18,9 7,8 13,3 73,6 17,7 19,2 Income items Income from external customers Business volumes, SEK billion Lending Deposits Mutual funds & insurance Shares and participating interests in associated companies, SEK billion Risk-weighted volume, SEK billion Total assets, SEK billion Total liabilities, SEK billion Full-time employees Shared Services and Group Staffs Swedish Retail Banking has responsibility for private and commercial customers, organizations, municipalities and county councils in Sweden as well as the parent bank s distribution channels in the form of branches, ATM s and the telephone Shared Services and Group Staffs SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Share in profit of associated companies Total income Staff expenses IT expenses Other expenses Depreciation/amortization Total expenses Profit before loan losses Loan losses Operating profit/loss Appropriations Tax Profit for the period Profit for the period attributable to: Swedbank s shareholders Minority Allocated equity Return on allocated equity,% 79,9 neg. 75, 62,7 neg. 65,2 neg. Income items Income from external customers Income from transactions with other segments Business volumes, SEK billion Lending 1 Shares and participating interests in associated companies, SEK billion 1 1 Risk-weighted volume, SEK billion Total assets, SEK billion Total liabilities, SEK billion Full-time employees

16 1. Profit per business area Eliminations Eliminations SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Net interest income Net commission income Net gains and losses on financial items at fair value Other income Total income Staff expenses IT expenses Other expenses Total expenses Business volumes, SEK billion Mutual funds & insurance Other investment volume Total assets, SEK billion Total liabilities, SEK billion

17 11. Balance sheet Balance sheet 3 September 25 SEK bn Balance sheet Sep 3 Sep 3 Dec 31 SEK M Lending to credit institutions Lending to the public Interest-bearing securities Shares and participating interests for which customers bear the investment risk Derivatives Other assets Total assets Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Liabilities where the customers bear the investment risk Derivatives Other liabilities Subordinated liabilities Equity Minority interest Shareholders' equity Total liabilities, provisions and shareholders' equity Lending, Private individuals, 77 Other loans to the public, 269 Mortgage loans, 456 Credit institutions, 131 Interest-bearing sec, 86 Derivatives, 38 Other assets, 13 Household deposits, 18 Other deposits from the public, 149 Debt securities in issue, 48 Credit institutions, 127 Derivatives, 36 Other liabilities, 137 Shareholders' equity, 51 Lending Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 3 Dec 31 SEK bn Households 42,4 389,7 374, 367,8 359,2 351,8 342,1 337,5 Of which Spintab 325,2 315,6 36,3 3,7 293,9 288,1 278, 273,6 Real estate management 157,6 155,4 148,7 142,1 139,4 139,8 137,1 136,7 Retail, hotels, restaurants 26,8 26,4 25,3 24,2 23,8 23,6 23,4 23,1 Construction 1,7 9,9 9,7 9,3 9,7 9,6 1,5 1,1 Manufacturing 24, 22,2 21,7 2,9 21, 21,4 2,8 19,9 Transportation 13,1 12,3 11,5 11,1 1,8 11,3 1,8 1,4 Forestry and agriculture 4,5 38,6 37,5 37,2 36,4 35,6 34,5 34,5 Other service businesses 2,2 21,2 18,8 16,7 17, 18,8 17, 16,9 Other corporate lending 52,5 54,9 49,1 51,2 49,2 48,7 49, 49,9 Municipalities * 14,2 14,3 14,4 13,8 13,5 13,5 13,4 14,2 Total excluding discontinued operations 762, 744,9 71,7 694,3 68, 674,1 658,6 653,2 FI-Holding 67,7 67,9 67,9 Total 762, 744,9 71,7 694,3 68, 741,8 726,5 721,1 Credit institutions incl. The Swedish National Debt Office 63,6 63,5 66,6 6, 59,6 9,7 52,8 54,7 Repurchase agreements 17,5 1, 12,2 8,6 96,5 7,4 67,8 5,6 Total lending 933,1 98,4 879,5 834,9 836,1 92,9 847,1 826,4 * Not including municipal companies Deposits Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 3 Dec 31 SEK bn Transaction accounts 219,1 21,4 198,3 19,2 19,4 11,1 1,8 13,8 Savings accounts 1,5 4,8 5,2 6, 58, 76,8 76,3 76,2 Overnight deposits 4,8 3, 5,2 3,3 3,3 3,5 3,8 1,3 Other 9,3 2,3 28,8 51, 55,1 41,1 46,2 48,9 Currency deposits 85,1 8, 72,1 62, 67,2 63,7 6,2 52,5 Total deposits from public 328,8 318,5 39,6 285,5 293, 295,2 287,3 282,7 Of which non financial companies 52,1 5,8 49,9 48,1 43,2 47,4 43,4 41,4 17

18 12. Interest rates Interest rates in Sweden, quarterly % Sep-2 Dec-2 Mar-3 Jun-3 Sep-3 Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Sep-5 1-year Swap 9 days STIBOR Published rates Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Household deposits Private accounts SEK - 15,,,,,,,.* 1,5 SEK 15, -,,,,,,,, e-savings account,85,85 1,35 1,35 1,35 1, * 2,1 Savings capital accounts SEK - 1,,1,1,25,25,25,25,25 SEK 1, -,85,85 1,35 1,35 1,35 1,35 1,35 Fixed rate deposits 3-months,9,9 1,35 1,45 1,45 1,45 1,75 2,15 1-year 1,58 1,33 1,87 1,92 2,22 1,8 1,75 2,2 3-year 2, 1,7 2,35 2,4 3,5 3,25 2,7 3,45 5-year 2,3 2,2 3,5 3,15 3,9 4,2 3,55 4,3 * As of 14 April 24 Published rates Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Spintab mortgages, single-family homes months 3,15 3,15 3,65 3,65 3,65 3,65 3,65 4,4 2-year 3,9 2,72 3,45 3,5 4, 4,1 4,25 4,6 5-year 3,69 3,49 4,25 4,35 4,95 5,25 5,25 5,6 18

19 13. Funding and interest rate risks Maturity distribution, Spintab's lending, 3 September 25 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 Retail Other Total Maturity distribution, Spintab's funding, 3 September 25, 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 Total Funding and capital structure, 3 September 25 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 ,4 23,7 Spintab ,6 1,6 The Group ,5 9,9 Effect on value of assets and liabilities in SEK and foreign currency, including derivatives if interest rates increase by 1 b.p., 3 September 25 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 of which foreign currency Of which financial current assets at fair value, the group of which foreign currency

20 14. Asset quality Doubtful claims of total lending:.18 percent (.21) Doubtful claims gross decreased by 2 percent to SEK 2,738 M (2,788) Provision ratio for doubtful claims increased to 149 percent (14) Loan losses decreased by 26 percent to SEK 294 M (395) Loan loss level decreased to net.5 percent (.7) Group lending by collateral 3 September 25 (31 December 24) Chattel mortgages; 2% (2) Personal guarantee; 2% (1) Unsecured; 9% (9) Municipalities and county councils; 6% (7) (Figures in parentheses refer to September 3 24) Other properties; 14% (13) Residential properties incl. Condominiums; 6% (62) Other collateral; 7% (6) 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 provisions assessed assessed homogenous provisions (unsettled) interest is claims claims groups of entered as income 3 September 25 claims Private individuals Real estate management Retail, hotels, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other corporate lending Municipalities* Lending Credit institutions incl. National Debt Office Repurchase agreements - Credit institutions incl. National Debt Office Repurchase agreements - public Total lending to credit institutions and the public * Not including municipal companies Credit exposure % of credit 3 September 25 SEK M, book value Loans Derivatives Investments Guarantees Other Total total institutions Of which Sweden , OECD countries* , of which Denmark , of which Norway ,2 9 5 Baltic region ,8 528 Russia ,4 99 Latin America of which Brazil Japan , Rest of East Asia , of which South Korea of which China ,1 764 Other countries , Total , * Excluding Sweden, Japan, Hungary, Mexico, Poland, Turkey, Slovakia, South Korea and the Czech Republic. 2

21 14. Asset quality Loan losses, quarterly trends SEK M Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Q4 3 Loan losses, the Group Provisions Established Recoveries Change in value of property taken over 2 Total Loan losses by Group unit FöreningsSparbanken AB Spintab FI-Holding 1 Hansabank Others Total Loan losses by sector Households Real estate management Retail, hotel, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other business lending Other Total Doubtful claims by Group unit Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 SEK M Doubtful claims gross FöreningsSparbanken AB Spintab FöreningsSparbanken Finans FI-Holding Hansabank Other Total Doubtful claims provisions FöreningsSparbanken AB Spintab FöreningsSparbanken Finans FI-Holding Hansabank Other Total Doubtful claims net by Group unit FöreningsSparbanken AB Spintab FöreningsSparbanken Finans FI-Holding Hansabank Other Total

22 15. Organization structure Group operational structure BOARD OF DIRECTORS Internal Audit PRESIDENT AND CEO Swedish Retail Operations Swedbank Markets Asset Management and Insurance Shared Services and Group Staffs International Banking Northern Region Stockholm Region Central Region Western Region Southeastern Region Öresund Region Telephone- and Internet bank Savings bank alliance -partly owned banks Customer Offerings and Products Spintab Kundinkasso EnterCard FSB Finans FSB Fastighetsbyrå FSB Företagsförmedling FSB Juristbyrå Swedbank Luxemburg Swedbank Markets -Merchant Banking -Investment Banking Robur -Robur Funds -Robur Asset Management -Robur Insurance Shared Services Administrative support -IT Services -IT Development Group Staffs Treasury Hansabank Group -Estonia -Latvia -Lithuania -Russia International banking staff Group legal structure FöreningsSparbanken AB AB Spintab Robur AB FSB Finans AB AS Hansabank Swedbank Luxemburg S.A. Sparia Försäkrings AB FSB Juristbyrå AB FSB Fastighetsbyrå AB FSB Jordbrukskredit Robur Försäkring AB Robur Kapitalförvaltning AB Robur Fondholding AB Allround AB (67%) EnterCard Holding AB (6%) FSB Öland AB (6%) First Securities ASA (51%) Eskilstuna Rekarne Sparbank AB (5%) Babs Paylink AB (49%) Bergslagens Sparbank AB (48%) FSB Sjuhärad AB (48%) FSB Söderhamn AB (4%) Vimmerby Sparbank AB (4%) Färs och Frosta Sparbank AB (3%) BGC-Holding AB (29%) Finansiell ID-Teknik AB (28%) DocHotel i Stockholm AB (25%) Privatgirot AB (22%) CEKAB (21%) VPC AB (2%) 22

23 15. Organization structure 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. 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.25/3/5 M 23

24 16. Owners and shares Shareholders, 3 September 25 % Ownership structure 3 September 25 (31 December 24) Savings bank foundations 21.1 Savings banks 8.2 Alecta 3.8 Robur funds 3.2 AMF Pension 2.8 SHB/SPP Funds 2.6 AFA Insurance 2.6 FöreningsSparbanken profit-sharing funds 2.3 Fourth National Pension Fund SEB Funds Swedish institutional investors, 36.3% (42.4) Savings banks, 8.2%(8.1) Swedish general public, 11.4% (11.4) International investors 23. Other Swedish institutions 16. Swedish general public 11.4 Total 1. Savings banks foundations, 21.1% (2.9) International investors, 23.% (17.2) Number of shareholders: Number of shares: Number of shares outstanding: Repurchased shares Source: DN Ägarservice and FöreningsSparbanken Data per share Sep 3 Sep 3 Dec 31 Dec 31 Dec 31 SEK Earnings 18,45 13,48 17,5 12,2 7,87 Equity 98,12 82,46 86,16 79,42 73,13 Dividend 6,5 5,75 5,5 Price, end of period 187,5 151, 165,5 141, 13, Yield, % 3,93 4,8 5,34 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 New issue New issue New issue Split 5: New issue Split 1: New issue New issue/ reduction 1 65/ Bonus issue New issue New issue Bonus issue Share repurchase

25 For further information, please contact: Jan Lidén, President and CEO Henrik Kolga, Head of Communications Jonas Blomberg, Head of Investor Relations Tobias Norrby, 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 - preliminary release dates: Annual report for February 26 The Annual General Meeting in 26 will be held in Malmö on 25 April. Interim report first quarter April 26 Interim report second quarter 26 9 August 26 Interim report third quarter October 26 Rating September 25 Standard & Poor's Moody s Fitch R/I Short Long Short Long BFSR* Short Long Long FöreningsSparbanken AB A1 A P1 Aa3 B F1 A+ AA- Spintab A1 - P1 Aa3 - F1+ AA- - Hansabank - - P1 A1 C F1 A - * Bank Financial Strength Ratings 25