Facts FöreningsSparbanken (Swedbank)
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- MargaretMargaret Cummings
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1 Q4, 25 February 15, 26 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 December 31, 25 December 31, 25 Product range and market position, Sweden Households Public sector Swedbank 4.1 million Swedbank 215 municipalities Jointly owned.4 million Jointly owned 2 municipalities Savings banks 1.3 million Savings banks 93 municipalities Hansabank 4.6 million Swedbank 22 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 245, Unions 26, Cooperative 98, Religious 186, 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 December 31, 25 1,45 (1,64) branches 16,148 (15,156) employees 1.4 (1.1) M private customers 56, (57,) corporate customers 2,147 (2,15) ATM's 3.7 (3.2) M Internet banking customers 2.7 (2.8) M Telephone banking customers Profit for the period Hansabank 19% Swedbank 81% Customers Lending Hansabank 11% Branches Swedbank 89% Including savings banks and partly owned banks. (December 24). Hansabank 53% Hansabank 38% Swedbank 47% Swedbank 62% Products per private individiuals Number of customers, thousand Products per corporate customer Average number of Average number of Numbers of products Sweden products Sweden customers, Q Q thousand Q Q Q Q Q Q Q Q >1 Dec-4 Dec >1 Dec-4 Dec-5 2
3 1. Market position Market shares, Swedish retail market December 31, 25 % December 31, 25 6 Estonia Market shares, Baltic retail market Estonia % Latvia Lithuania Lithuania 1 1 Latvia Total lending Giro accounts, Swedbank and Hansabank Including savings banks and partly owned banks Number of private customers with giro, thousand Dec-3 Mortgage Mar-4 Jun-4 Deposits Sep-4 Fund management Dec-4 Mar-5 Retail bonds Jun-5 Sep-5 Dec Bank cards, Swedbank and Hansabank Including savings banks and partly owned banks Number of cards, thousand Dec-3 Total lending Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Deposits Sep-5 Quarterly transactions, million Dec 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 Dec-3 Mar-4 Jun-4 Dec-4 Mar-5 Jun-5 Numbers of Internet customers in Sweden Number of Internet customers in Hansabank Payments Sep-5 Number of payments, million Dec-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) 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 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 4.6 million 1.4 million customers Corporate 25,+26,+98, 186, 56 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 risk-free 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. At least 4 percent of net profit shall be distributed to the shareholders as dividend. Return on equity Capital adequacy % % 14, 12, 1, 8, 6, 4, 2, Q4-3 Q1-4 Dividend Q2-4 Q3-4 Q4-4 Q1-5 Q2-5 Q3-5 Q4-5, Q4-3 Q1-4 Q2-4 Q3-4 Q4-4 Actual capital adequacy ratio Target primary capital ratio Q1-5 Q2-5 Q3-5 Q4-5 Primary capital ratio SEK/Share 8 Dividend ratio % Dividend ratio 45% 56% 7% 48% 4% 4% ** Dividend growth 1% 5% 13% 15% Yield, per year-end * 3,81% 4,23% 5,34% 4,8% 3,93% 3,46% * Based on share price at year-end ** Dividend ratio excluding capital gains * Dividend per share * Dividend according to board proposal and dividend ratio excluding capital gains Dividend ratio 5
6 4. Savings and investments Market shares, total fund assets in Sweden Robur, fund assets December 31, 25 (December 31, 24) December 31, 25 Robur % 26.5% 1 (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) Dec-3 Mar-4 Jun-4 Sep-4 Dec-4 Mar-5 Jun-5 Sep-5 Swedish stocks Foreign stocks Interest-bearing securities Dec-5 New savings, net Q4 Q3 Q2 Q1 Q4 Q3 SEK bn Market share % Dec 31, 25 Bank deposits, households -1,4 5,7 5,6 5, -5,4 4,1 31,2 Net fund and insurance investments -,6 1,3 1,6 3,5 1, 1,5 9,5 Retail bonds 1,3 -,4,2 1,3,5,5 35,6 Subtotal households -,7 6,6 7,4 9,8-3,9 6,1 18,7 Bank deposits, corporate and other -1,3-5,5-1,3 18,2-4,4-7,4 Other sales of Robur funds 1,4 2,2,8 -,7,2 1,3 Total -,6 3,3 6,9 27,3-8,1, Savings banks and jointly owned banks,2,3,8 1,5,5,5 Hansabank -deposits* 8,2 1,2 6, 4,3 1,8 1,8 Hansabank -fund and insurance,8,9,8,5 1,2,4 Total new savings, net 8,6 5,7 14,5 33,6-4,6 2,7 * excluding exchange rate fluctuation Deposits from the public Dec 31 Dec 31 Dec 31 Dec 31 Volumes, SEK bn Households, SEK 151,3 136,4 135,4 129,1 Households, foreign currency 3,7 2,3 16,7 14,9 Other, SEK 96,1 78,7 87, 78,5 Other, foreign currency 47,2 41,7 35,8 31,2 Total 325,3 277,1 274,9 253,7 Discretionary asset management 24, 21,3 22,6 17,9 Fund management 364,5 285,9 248,6 28,3 of wich unit-linked insurance in own companies 54, 41,3 37, 3,8 Retail bonds and other bonds 14,7 11,5 1,5 8,1 Total 728,5 595,8 556,6 488, Deposits from the public Full year Full year Full year Full year Net flow, SEK bn Household deposits 26,1 4,6 8,1 11,7 Other deposits, SEK 17,1-8,3 8,5 16,8 Other deposits, foreign currency 5,2 5,9 4,6-4,7 Fund management, net savings 12,7 12,7 14,1 9,7 Fund-allocated insurance, new policies 3,2 1,3 1,3 2,2 Retail bonds 3,2 1, 2,4 1,2 6
7 5. Lending SEK bn Bank lending, Sweden 2 5 Banks Mortgage Institutions 1 5 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 Source: Statistics Sweden (Statistiska centralbyrån, SCB), 31 August 25 Lending, excl. repurchase agreements Spintab's loan portfolio December 31, 25 (December 31, 24) December 31, 25 (December 31, 24) Real estate mgmt 2% (2) Municipalities 2% (2) Spintab, households 43% (43) Multi-family housing 18% (19) Agriculture 6% (6) Businesses excl. real estate mgmt 25% (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 Dec 31 Sep 3 Jun 3 Mar 31 Jan 1 Dec 31 Sep 3 Jun 3 Mar 31 SEK bn Private individuals 417,8 43, 392,1 378,4 372,4 367,8 359,2 351,8 342,1 of which Spintab 34,2 329,8 321,9 31,8 35,4 3,7 293,9 288,1 278, Real estate management 164, 159, 157,2 15, 143,4 142,1 139,4 139,8 137,1 Businesses, incl. credit institutions 199,9 189,5 189,1 173,6 171,1 17,6 167,9 169, 166, Municipalities * 14, 14,2 14,3 14,4 13,8 13,8 13,5 13,5 13,4 Total excluding FI-Holding 795,7 765,7 752,7 716,4 7,7 694,3 68, 674,1 658,6 FI-Holding 67,7 67,9 Total 795,7 765,7 752,7 716,4 7,7 694,3 68, 741,8 726,5 Credit institutions, incl. Swedish National Debt Office 68,5 63,5 63,2 66,6 61,5 61,5 59,6 9,7 52,8 Repurchase agreements 11,6 17,4 1, 12,2 8,6 8,6 96,5 7,4 67,8 Total lending 974,8 936,6 915,9 885,2 842,8 836,4 836,1 92,9 847,1 * not including municipal companies 7
8 6. Profit trend and key figures Change in net interest income Jan - Dec 25 compared to Jan - Dec 24, SEK M Change in net commission income Jan - Dec 25 compared to Jan - Dec 24, SEK M Swedish retail operations -312 Payment processing 217 Swedbank Markets 439 First Securities 434 International banking operations -123 Asset management 437 Asset management and insurance -2 Brokerage 95 Shared services and Group Staffs -131 Lending commissions 19 Eliminations * 469 Other -154 Total 34 Total 1 48 * Effect of change of accounting principles in the reporting of net interest income from trading operations Profit trend Full year 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 1 77 Profit for the period Attributable to: Shareholders of Swedbank Minority interest Key figures Dec 31 Dec Return on equity (ROE), % * 24,6 21,8 Return on total capital (ROA),% 1,33 1, Loan loss ratio, net, %,4,7 Provision ratio for doubtful claims, % Capital adequacy ratio, % 9,7 11,6 Primary capital ratio, % 6,5 8,2 C/I ratio before loan losses,48,55 Interest margin, % 1,3 1,36 Investment margin,% 1,37 1,44 Risk weighted amount/total assets (RWA/TA), % Earnings per share (EPS), SEK 23,14 17,5 Dividend per share (DPS), SEK 7,5 6,5 * Based on equity attributable to FöreningsSparbanken's shareholders Balance sheet data Dec 31 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 Q4 5 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 Q4 5 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 Q4 5 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 EnterCard Holding 32 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 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Net interest income Net commission income Net gains and losses on financial items at fair value Net insurance Other income Total income Staff expenses Other expenses Total 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 for the period Hansabank, balance sheet data Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 (according to Hansabank's financial reporting) SEK M Total assets Lending to the public Equity Minority's Shareholders' Return on equity, % 25,2 26,1 25,3 25,7 24,7 1
11 8. Income SEK M Quarterly trends, income Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Net interest income Commissions Financial items Other Group income SEK M Q4 5 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 and 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 Other financial instruments 8 Change in value 8 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 Q1 4 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Total expenses Swedbank excl. Baltic banking Baltic banking Staff expenses Other expenses Group expenses SEK M Q4 5 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 Baltic banking operations Number of full-time positions Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar Swedbank excluding Baltic banking operations Permanent employees Temporary employees of wich First Securities of wich EnterCard AS Total Hansabank FI-Holding Total
13 1. Profit per business area Business area accounting principles The business area report is based on Swedbank s accounting principles,organization and internal accounts. The business area report has been adapted to the new area organization as of September 25. Historical values have been restated as of the first quarter 24. 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. The return for the business areas, in relation to allocated equity, is based on operating profit less estimated tax and minority interests. Swedish Retail Banking Swedish Retail 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 (real estate brokerage), FöreningsSparbanken Juristbyrå (legal services) and FöreningsSparbanken Företagsförmedling (company sales). The Customer and Product Offerings unit produces and coordinates offerings for various customer groups and is responsible for the further development and launch of new products based on customer needs. Swedish Retail Banking also includes the private banking operations of the subsidiary Swedbank Luxembourg as well as the jointly owned card company EnterCard. Swedish Retail Banking SEK M Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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,% 2,3 48,1 36, 21, 22,1 23,1 2, 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 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. The international branch in London was closed in December 25. Swedbank Markets SEK M Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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,% 33,6 22,2 29,5 26,6 38,3 14,1 32,1 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 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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,% 43,4 45,8 38,8 38,3 39,8 41,4 4,1 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 Baltic Retail Banking The Baltic Banking business area includes the subsidiary Hansabank. Because of the acquisition of the remaining shares in Hansabank for SEK 15.8 billion, allocated equity for Hansabank rose by SEK 8.7 billion between 25 and 24. Baltic Retail Banking SEK M Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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,% 14,7 17,9 12,4 8,9 35,2 37, 31,7 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 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. 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. Shared Services and new operations SEK M Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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 Discontinued operations Profit for the period Profit for the period attributable to: Swedbank s shareholders Minority 28 Allocated equity Return on allocated equity,% 125,9 7,4 32, 37,9 5,6 8,5 16 Income items Income from external customers Income from transactions with other segments Business volumes, SEK billion Lending 68 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
16 1. Profit per business area Eliminations Eliminations SEK M Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 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 December 31, 25 Balance sheet Dec 31 Jan 1 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 SEK bn Lending, Private individuals, 78 Other loans to the public, 273 Mortgage loans, 472 Credit institutions, 152 Interest-bearing sec, 88 Derivatives, 32 Other assets, 13 Household deposits, 182 Other deposits from the public, 157 Debt securities in issue, 518 Credit institutions, 11 Derivatives, 3 Other liabilities, 146 Shareholders' equity, 54 Lending Dec 31 Sep 3 Jun 3 Mar 31 Jan 1 Dec 31 Sep 3 Jun 3 SEK bn Households 417,8 43, 392,1 378,4 372,4 367,8 359,2 351,8 Of which Spintab 34,2 329,8 321,9 31,8 35,4 3,7 293,9 288,1 Real estate management 164, 159, 157,2 15, 143,4 142,1 139,4 139,8 Retail, hotels, restaurants 27,1 26,8 26,4 25,3 24,3 24,2 23,8 23,6 Construction 11,2 1,7 1, 9,7 9,3 9,3 9,7 9,6 Manufacturing 23,7 24, 22,2 21,7 2,9 2,9 21, 21,4 Transportation 13,8 13,1 12,3 11,5 11,1 11,1 1,8 11,3 Forestry and agriculture 41,6 4,5 38,6 37,5 37,2 37,2 36,4 35,6 Other service businesses 25,5 2,2 21,2 18,8 16,6 16,7 17, 18,8 Other corporate lending 57, 54,2 58,4 49,1 51,7 51,2 49,2 48,7 Municipalities * 14, 14,2 14,3 14,4 13,8 13,8 13,5 13,5 Total excluding discontinued operations 795,7 765,7 752,7 716,4 7,7 694,3 68, 674,1 FI-Holding 67,7 Total 795,7 765,7 752,7 716,4 7,7 694,3 68, 741,8 Credit institutions incl. The Swedish National Debt Office 68,5 63,5 63,2 66,6 61,5 61,5 59,6 9,7 Repurchase agreements 11,6 17,5 1, 12,2 8,6 8,6 96,5 7,4 Total lending 974,8 936,7 915,9 885,2 842,8 836,4 836,1 92,9 * Not including municipal companies Deposits Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 3 SEK bn Transaction accounts 225,6 219,1 21,4 198,3 19,2 19,4 11,1 1,8 Savings accounts 8,5 1,5 4,8 5,2 6, 58, 76,8 76,3 Overnight deposits 1,7 4,8 3, 5,2 3,3 3,3 3,5 3,8 Other 16,1 9,3 2,3 28,8 51, 55,1 41,1 46,2 Currency deposits 77,9 85,1 8, 72,1 62, 67,2 63,7 6,2 Total deposits from public 338,8 328,8 318,5 39,6 285,5 293, 295,2 287,3 Of which non financial companies 62,9 52,1 5,8 49,9 48,1 43,2 47,4 42,4 17
18 12. Interest rates Interest rates in Sweden, quarterly % 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 1-year Swap 9 days STIBOR Published rates Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Household deposits Private accounts SEK - 15,,,,,,,,.* SEK 15, -,,,,,,,, e-savings account 1,1**,85,85 1,35 1,35 1,35 1, * Savings capital accounts SEK - 5,,5** SEK 5, - 1,** 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 1,2,9,9 1,35 1,45 1,45 1,45 1,75 1-year 2,12 1,58 1,33 1,87 1,92 2,22 1,8 1,75 3-year 2,7 2, 1,7 2,35 2,4 3,5 3,25 2,7 5-year 3, 2,3 2,2 3,5 3,15 3,9 4,2 3,55 * As of April 14, 24 * As of February 2nd, 26 Published rates Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 31 Spintab mortgages months 3,15 3,15 3,15 3,65 3,65 3,65 3,65 3,65 2-year 3,44 3,9 2,72 3,45 3,5 4, 4,1 4,25 5-year 4,8 3,69 3,49 4,25 4,35 4,95 5,25 5,25 18
19 13. Funding and interest rate risks Maturity distribution, Spintab's lending, December 31, 25 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 Other Total Maturity distribution, Spintab's funding, December 31, 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, December 31, 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 ,1 23,7 Spintab ,5 1,1 The Group ,5 9,7 Effect on value of assets and liabilities in SEK and foreign currency, including derivatives if interest rates increase by 1 b.p., December 31, 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 Doubtful claims of total lending:.12 percent (.18) Doubtful claims gross decreased by 14 percent to SEK 2,219 M (2,579) Provision ratio for doubtful claims increased to 171 percent (151) Loan losses decreased by 41 percent to SEK 294 M (494) Loan loss level decreased to net.4 percent (.7) (Figures in parentheses refer to September 3 24) 14. Asset quality Group lending by collateral December 31, 25 (January 1, 25) Other properties 14% (13) Unsecured 8% (9) Chattel mortgages 2% (2) Personal guarantee 2% (1) Municipalities and county councils 6% (7) Other collateral 7% (6) Residential properties incl. Condominiums 61% (62) 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 December 31, 25 provisions assessed assessed homogenous provisions (unsettled) interest is claims claims groups of entered as income 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 December 31, 25 SEK M, book value Loans Derivatives Investments Guarantees Other Total total institutions Of which Sweden , OECD countries* , of which Denmark , of which Norway , Baltic region ,6 522 Russia ,5 963 Latin America of which Brazil Japan , Rest of East Asia , of which South Korea of which China ,1 754 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 Q4 5 Q3 5 Q2 5 Q1 5 Q4 4 Q3 4 Q2 4 Q1 4 Loan losses, the Group Provisions Established Recoveries Change in value of property taken over Total Loan losses by Group unit FöreningsSparbanken AB Spintab FI-Holding 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 Dec 31 Sep 3 Jun 3 Mar 31 Dec 31 Sep 3 Jun 3 Mar 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 Staffs Swedish Banking Retail and corporate banking including asset management: Northern Region Stockholm Region Central Region South-eastern Region Western 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, Stockholm First Securities, Oslo 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 AB Spintab Robur AB FSB Finans AB AS Hansabank Swedbank Luxemburg S.A. Sparia Försäkrings AB FSB Juristbyrå AB FSB Fastighetsbyrå AB FSB Företagsförmedling AB FSB Jordbrukskredit Robur Försäkring AB Robur Kapitalförvaltning AB Robur Fondholding AB Allround AB FSB Öland AB (6%) First Securities ASA (51%) EnterCard Holding AB (6%) 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, December 31, 25 % Ownership structure December 31, 25 (December 31, 24) Savings bank foundations 21,1 Savings banks 8,2 Alecta 3,2 Robur funds 3, SHB/SPP Funds 2,8 AMF Pension 2,7 FöreningsSparbanken profit-sharing funds 2,3 Fourth National Pension Fund SEB Funds 1,8 1,6 AFA Insurance 1,3 Swedish institutions, 34.1% (42.4) Savings banks, 8.2%(8.1) Swedish general public, 11.2% (11.4) International investors 25,4 Other Swedish institutions 15,4 Swedish general public 11,2 Total 1, Savings banks foundations, 21.1% (2.9) International investors, 25.4% (17.2) Number of shareholders: Number of shares: Number of shares outstanding: Repurchased shares Source: DN Ägarservice and FöreningsSparbanken Data per share Dec 31 Dec 31 Dec 31 Dec 31 SEK Earnings 23,14 17,5 12,2 7,87 Equity 14,7 86,16 79,42 73,13 Dividend 7,5 6,5 5,75 5,5 Price, end of period 216,5 165,5 141, 13, Yield, % 3,46 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 New issue
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 - release dates: The Annual General Meeting in 26 will be held in Malmö on 25 April. Interim report first quarter 26 April 28, 26 Interim report second quarter 26 August 1, 26 Interim report third quarter 26 October 26, 26 Rating December 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
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