Facts. Q1, April 2010

Transcription

1 Facts 27 April 21

2 27 April 21 Contents page General information 2 Geographic reach 2 Macro economic indicators 3-4 Business volumes 5 Business volumes 5 Lending 6-7 Savings and investments 8 Other products 9 Market shares 1 Income statement and key figures 11 Income statement, 5-year summary 11 Key figures and Balance sheet data, 5-year summary 12 Income statement 9-quarter summary 13 Non-recurring items 9-quarter 14 Key figures 9-quarter 15 Income analysis 16 Net interest income analysis Margin analysis 19 Expense analysis 2 Employees 21 Customer satisfaction index 22 FX-positions, Exchange rates and Impact from exchange rate fluctuations 23 Impact from exchange rate fluctuations 24 Currency distribution 25 Business areas 26 Profit before impairments and non-recurring items by business area Retail 29 Swedbank Insurance 3 Large Corporates & Institutions 31 Large Corporates 32 International branches 32 First Securities 33 Baltic 34 Baltic Operations 35 Estonia 36 Latvia 37 Lithuania 38 Other and Investment 39 Russia & Ukraine 4 Russian 41 Ukrainian Operations 42 Ukrainian Investment 43 Asset Management 44 Ektornet 45 Shared Services and Group Staffs, Eliminations 46 Asset quality 47 Balance sheet, Equity and Goodwill 47 Derivatives 48 Outstanding subordinated loans 49 Capital adequacy analysis 5 Sensitivity analysis and maturity distribution 51 Credit risks Asset quality Credit quality 57 Credit impairments 58 Impaired loans 59-6 Loans past due 61 Interest bearing securities 62 Organisation, Group Executive Committee and Rating 63 Shareholders and share data 64 Definitions 65 Contacts and financial calendar 66

3 Geographic reach Swedbank Group, distribution 1% 8% 6% 4% 2% % Profit before impairments and nonrecurring items 82 Loans 43 Private customers Branches Sweden Baltic Region International 1 Market position, home markets Mortgage lending, private; Sweden, Estonia and Latvia Bank lending, private; Estonia, Latvia and Lithuania Deposits, private; Sweden, Estonia, Latvia and Lithuania Bank lending, corporate; Estonia and Latvia Deposits, corporate; Estonia Leasing, corporate; Estonia and Latvia Mutual funds; Sweden Individual pension savings; Sweden Pension II reform; Estonia, Latvia and Lithuania Card clearance transactions; Sweden Real estate brokerage; Sweden Strong positions in Mortgage lending, private; Lithuania Bank lending, private; Sweden Bank lending, corporate; Lithuania and Sweden Deposits, corporate; Sweden, Latvia and Lithuania Leasing corporate; Sweden and Lithuania Unit-linked insurance; Sweden Index linked bonds; Sweden Sweden Population 9.2m Employees Private customers 4.1m of which Internet customers 2,8m Corporate customers 282 of which internet customers 262 Organisations 113 Branches 377 ATMs 776 Cards 3.7m Estonia Population 1.3m Employees Private customers 1.2m of which Internet customers.9m Corporate customers 1 Branches 67 ATMs 559 Cards 1.1m Lithuania Population 3.4m Employees Private customers 3.2m of which Internet customers 1.2m Corporate customers 91 Branches 98 ATMs 448 Cards 1.7m Latvia Population 2.3m Employees Private customers 1.m of which Internet customers.8m Corporate customers 61 Branches 59 ATMs 372 Cards.9m Home markets Sweden Estonia Latvia Lithuania Other markets Ukraine Russia - In Moscow, Kaliningrad, S:t Petersburg and a representative office in Krasnodar Denmark - 2 branches Finland - Branch Norway - Branch, investment banking through First Securities (51% owned), EnterCard (5% owned) USA - Merchant/investment banking and corporate banking in New York Luxemburg - Private China - Branch in Shanghai Japan - Representative office in Tokyo Spain - Representative office in Marbella 2

4 Macro economic indicators GDP growth, % F 211F GDP growth Average inflation rate (consumer price growth) % 211F 21F % 211F 21F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Russia Russia Ukraine Ukraine Denmark Denmark Finland Finland Norway Norway EU EU Current account balance, % of GDP General Government Financial Balance, % of GDP 211F 21F F 21F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Russia Russia Ukraine Ukraine Denmark Denmark Finland Finland Norway Norway EU EU General government debt, % of GDP 211F 21F GDP per capita (PPP) 29F, USD Inhabitants (millions) GDP (29F, USDbn) Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Russia Russia Ukraine Ukraine Denmark Denmark Finland Finland Norway Norway EU Source: Swedbank Economic Research Department 3

5 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Mar-6 Jun-6 Sep-6 Dec-6 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Mar-6 Jun-6 Sep-6 Dec-6 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Macro economic indicators % 6, 5,5 5, 4,5 4, 3,5 3, 2,5 2, 1,5 1,,5, Interest rates: Sweden, Eurozone % Interest rates: Baltics, Eurozone 1-year Swap (SWE) 9 days Euribor 9 days Stibor (SWE) Repo rate (SWE) 9 days Rigibor (Latvia) 9 days Talibor (Estonia) 9 days Euribor 9 days Vilibor (Lithuania) Turnover General index and turnover, equities, Nordic Exchange Stockholm Index Sthlm, turnover month OMX Stockholm PI (rs) Real estate price development, Sweden 1) SEK Sweden Stockholm Gothenburg Malmö 1) Median price for a single family home Source: Swedbank's Boindex (real estate price index) Real estate price development, Baltics 2) EUR/m Q1-1 Tallin Vilnius Riga 2) Average sales price per sqm for apartments Source: Land boards of respective country 4

6 BBBBB Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Business volumes Lending and deposits Assets under management SEKbn % SEKbn Lending Deposits Loan/Deposit ratio Discretionary Unit-linked insurance Funds Lending Deposits SEKbn 1 SEKbn Retail Large Corp. & Inst Estonian Latvian Lithuanian Ukrainian Russian Retail Large Corp. & Inst Estonian Latvian Lithuanian Ukrainian Russian Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 5

7 B1B1B1B1B1 Mar-7 Mar-7 Jun-7 Jun-7 Sep-7 Sep-7 Dec-7 Dec-7 Mar-8 Mar-8 Jun-8 Jun-8 Sep-8 Sep-8 Dec-8 Dec-8 Mar-9 Mar-9 Jun-9 Jun-9 Sep-9 Sep-9 Dec-9 Dec-9 Feb-1 Feb-1 Mar-7 Mar-7 Jun-7 Jun-7 Sep-7 Sep-7 Dec-7 Dec-7 Mar-8 Mar-8 Jun-8 Jun-8 Sep-8 Sep-8 Dec-8 Dec-8 Mar-9 Mar-9 Jun-9 Jun-9 Sep-9 Sep-9 Dec-9 Dec-9 Feb-1 Feb-1 Lending The Swedish lending market The Estonian lending market SEKbn % EURbn % Total lending Mortgage lending Total lending growth 12m Mortgage growth 12m The Latvian lending market EURbn % 3 1 Total lending Mortgage lending Total lending growth 12m Mortgage growth 12m The Lithuanian lending market EURbn % Total lending Mortgage lending Total lending Mortgage lending Total lending growth 12m Mortgage growth 12m Total lending growth 12m Mortgage growth 12m Lending by sector, Group Mar Ch. % Ch. % Dec Sep Jun Mar Dec Sep Jun Mar SEKbn 21 Q/Q Y/Y Private customers Private mortgage Private other Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping Hotels and restaurants Information and communication 2 2 Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Lending Credit institutions, incl Swedish Nat'l Debt Office Repurchase agreements (Repos) of which to the public of which to credit institutions Loans

8 B2B2B2B2B2 Lending 2) Lending, Swedbank Group 2) Lending, Swedbank Mortgage AB 2) 31 March 21 (31 December 29) 31 March 21 (31 December 29) SEK 1 168bn (1 192) SEK 676bn (672) Corporate excl. Real estate mgmt 25% (26) Private individuals, other 11% (11) Real estate mgmt 2% (2) Swedbank Mortgage, private individuals 44% (43) Single-family homes 6% (6) Business properties 1% (1) Multi-family housing 15% (16) Agriculture 6% (6) Municipal loans and guarantees 3% (3) Individual condominiums 15% (14) Lending, by country 2) Mar Ch. % Ch. % Dec Sep Jun Mar Dec Sep Jun Mar SEKbn 21 Q/Q Y/Y Bank loans - private Bank loans - corporate Mortgage loans - private Mortgage loans - corporate Leasing - private Leasing and Factoring - corporate Sweden Bank loans - private Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Estonia Bank loans - private Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Latvia Bank loans - private Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Lithuania Bank loans - private 9 Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Russia Bank loans - private Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Ukraine Bank loans - private Bank loans - corporate Other 1) Lending 2) The percentage change is calculated in local currency. 1) Mainly Norway, Denmark, Finland, Luxemburg and USA 2) Lending to the public excluding Swedish Nat'l Debt Office and repurchase agreements 7

9 B3B3B3B3B3 Market shares, fund assets, Sweden 31 December 29 (31 December 28) Others 29.1% (24.8) Länsförsäkringar 4.2% (4.3) SHB 9.% (12.) Nordea 13.5% (12.3) Swedbank Robur 26.9% (27.) SEB 17.3% (19.6) Deposits from the public Mar Ch. % Ch. % Dec Sep Jun Mar Dec Sep Jun Mar Balance, SEKbn 21 Q/Q Y/Y Sweden - private Sweden - corporate Estonia - private Estonia - corporate Latvia - private Latvia - corporate Lithuania - private Lithuania - corporate Russia - private Russia - corporate Ukraine - private Ukraine - corporate Luxemburg - private International branches - private International branches - corporate Deposits from the public, excl repos of which Sweden - current accounts Sweden - savings accounts Estonia - current accounts Estonia - savings accounts Latvia - current accounts Latvia - savings accounts Lithuania - current accounts Lithuania - savings accounts Russia - current accounts Russia - time deposits Ukraine - current accounts Ukraine - time deposits Luxemburg - time deposits Credit institutions, incl Swedish Nat'l Debt Office Repurchase agreements (Repos) Deposits from the public and credit institutions Funds assets under management Mar Ch. % Ch. % Dec Sep Jun Mar Dec Sep Jun Mar Balance, SEKbn 21 Q/Q Y/Y Sweden Estonia Latvia Lithuania Luxemburg Eliminations Funds assets under management Net inflow of fund management, SEKbn Other investments, Sweden Mar Ch. % Ch. % Dec Sep Jun Mar Dec Sep Jun Mar Balance, SEKbn 21 Q/Q Y/Y Retail bonds and other bonds Discretionary asset management Unit-linked insurance Eliminations Total savings and investments of which Sweden Estonia, Latvia and Lithuania Russia and Ukraine The percentage change is calculated in local currency. Savings and Investments Savings and investments, Swedbank Group 31 March 21 SEKbn Asset mgmt 496 Deposits from the public, excl repos 29 Retail bonds and other bonds

10 B4B4B4B4B4 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Other products Products per private customer, Products per corporate customer, Sweden Average number of Sweden Average number of Number of customers, thousand products/customer Number of products/customer Q customers, Q Q thousand Q Q Q Q Q Q Q Q Q >15 Q4,29 Q1,21 Number of products >15 Q4,29 Q1,21 Number products Internet bank Including savings banks and partly owned banks Number of customers, thousand Number of payments, million Cards Number of cards, purchases and aquiring Including savings banks and partly owned banks Number of cards, thousand Quarterly transactions, million Number of Internet customers in Sweden Number of Internet customers in Baltic Region Payments in Sweden and Baltic Region Sweden Baltic Region Ukraine Purchases in Sweden, Baltic Region and Ukraine, million Acquiring in Sweden, Baltic Region and Ukraine, million 9

11 B5B5B5B5B5 Market shares, Sweden Balance 28 Feb 21 % Market shares % Market shares, Estonia, Latvia, Lithuania Balance 28 Feb 21 Market shares, % Lending Mortgage Deposits Private Corporate Estonia Latvia Lithuania Balance Net growth Feb Dec Dec Dec Dec Feb FY FY FY FY Sweden Lending, private of which mortgage lending Deposits, private * 4* 25 3 Pensions, private (Dec. 29) Mutual funds (Mar. 21) neg. neg. 2 Lending, corporate neg. neg. neg of which mortgage lending neg. Deposits, corporate > Pensions, corporate (Dec. 29) Index linked bonds (Mar. 21) neg. 2 neg Stock trading, turnover (Mar. 21) Estonia Lending, private neg. neg of which mortgage lending neg. neg Deposits, private Pensions, private neg Lending, corporate neg. neg Deposits, corporate neg Latvia Lending, private neg. neg of which mortgage lending neg. neg Deposits, private neg. neg. neg Pensions, private Lending, corporate neg. neg Deposits, corporate neg. neg. neg Lithuania Lending, private neg. neg of which mortgage lending neg. neg Deposits, private neg. neg Pensions, private Lending, corporate neg. neg Deposits, corporate neg. 2 3 Ukraine Lending, private neg. neg. 3 3 of which mortgage lending neg. neg. 5 1 Deposits, private neg. neg. Lending, corporate neg. neg. 3 3 Deposits, corporate neg. neg. 1 3 * Market share for Sweden deposits private adjusted for sold branches. Lending, corporate Mortgage, private Deposits, private 1

12 BBBBBB Income statement and key figures, 5-year summary Income statement, Group FY Ch. FY FY FY FY 29 % Net interest income Net commission income Net gains and losses on financial items, fair value Net insurance Share of the profit or loss of associates Other income Non-recurring items 1) Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Non-recurring items 2) Total expenses Profit before impairments Impairment of intangible assets Impairment on tangible assets Credit impairments Operating profit Tax expense Tax on non-recurring items 2) Profit for the period Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of Comprehensive Income Jan - Dec Ch. FY 29 % 28 Profit for the period reported via Income statement Exchange differences on translating foreign operations Hedging of net investments in foreign operations: -Gains/losses arising during the period Cash flow hedges: -Gains/losses arising during the period Reclassification adjustments to Income statement, Net interest income Reclassification adjustments to Income statement, Net gains and losses on financial items, fair value 37 Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests ) Non-recurring items 28-29, see page 14 for details 27, Capital gains; CEK AB 4, Sparebanken 1 and Norwegian PCC shares 21 26, Capital gains; Sparebanken 1 and Norwegian PCC shares , Capital gains; Sparebanken 1 and Norwegian PCC shares 51, Entercard 8 and Kundinkasso ) See page 14 for details 11

13 B1B1B1B1B1B1 Income statement and key figures, 5-year summary Key figures, Group FY FY FY FY FY Return on equity, % Return on total assets,% Return on RWA, % transition rules Credit impairment ratio, % Total provision ratio for impaired loans, % Capital adequacy ratio, % 1) Capital adequacy ratio, %, Basel 2, 2) Core Tier 1 capital ratio, % transition rules 1) Core Tier 1 capital ratio, % Basel 2, 2) Tier 1 capital ratio, %, transition rules 1) Tier 1 capital ratio %, Basel 2, 2) Cost/Income ratio Loan/Deposit ratio, % Share of wholesale funding > 1 year, % Net interest margin,% Risk weighted assets/total assets, % transition rules Earnings per share, SEK Cash dividend per ordinary share, SEK Cash dividend per preference share, SEK.. Balance sheet data Dec 31 Ch. Dec 31 Dec 31 Dec 31 Dec % Loans to the public 3) Deposits from the public 4) Equity Non-controlling interests Shareholders' equity Risk weighted assets, Basel Risk weighted assets, transition rules Risk weighted assets, Basel ) Basel 1, Transition rules. Including total subscribed capital 28 Capital Adequacy ratio was 11.6, Core Tier 1 capital ratio 7.4 and Tier 1 capital ratio 8.4 2) Including total subscribed capital 28, Captial adequacy ratio was 15.2, Core Tier 1 capital ratio 9.7 and Tier 1 capital ratio ) Excluding Swedish Nat l Debt Office and repurchase agreements (repos), SEK 1 192m as per ) Excluding repurchase agreements (repos), SEK 497m as per

14 B2B2B2B2B2B2 Income statement, 9-quarter summary Source of income Split of commission income % % Q1 8 Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Net interest income Net financial items Net commission income Other Income statement, Group Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Net interest income Net commission income Net gains/losses on financial items, fair value Net insurance Share of profit of associates Other income Non-recurring items 1) Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Non-recurring items 1) 2) Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit Impairments Operating profit Tax expense Tax on non-recurring items 1) 2) Profit for the period Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Q1 8 Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Asset management Payments Brokerage Lending Other Statement of Comprehensive Income Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Profit for the period reported via Income statement Exchange differences on translating foreign operations Hedging of net investments in foreign operations: -Gains/losses arising during the period Cash flow hedges: -Gains/losses arising during the period Reclassification adjustments to Income statement, Net interest income Reclassification adjustments to Income statement, Net gains/losses on financial items, fair value Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests ) See page 14 for details 2) The dissolvement of bonus reserves in Q4 29 should only be seen as a non-recurring when looking at Q4 isolated and not when looking at full year figures. 13

15 B3B3B3B3B3B3 Non-recurring items, 9-quarter Non-recurring items Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q Retail Capital gain Master Card 11 Capital gains branch offices Share of profit/loss of associates VISA Sweden 322 Baltic Capital gain Estonian stock exchange 15 Capital gain PKK 66 Russia & Ukraine Capital loss EADR (Ukraine) -6 Asset Management Repayed fund management fees Private Debt Fund compensation -88 Shared Services & Group Staffs Capital gain Aktia 24 Capital gain NCSD Holding AB 68 Capital gain SPS Reinsurance Luxemburg 95 Total income Retail Dissolvement of bonus reserve 1) -89 Large Corporates & Institutions Dissolvement of bonus reserve 1) -295 Baltic Dissolvement of bonus reserve 1) Write-down Hansabank brand Russia & Ukraine Refund VAT provision in Russia -83 Asset Management Dissolvement of bonus reserve 1) -26 Shared Services & Group Staffs Dissolvement of bonus reserve 1) -2 Total expenses Large corporates & Institutions Impairment of goodwill ZAO 5 Russia & Ukraine Impairment of goodwill Ukraine Impairment of goodwill Russia 14 Total impairments Retail Tax capital gains branch offices Tax dissolvement of bonus reserve 1) 23 Large Corporates & Institutions Tax dissolvement of bonus reserve 1) 78 Baltic Tax dissolvement of bonus reserve 28 9 Asset Management Tax repayed fund mgm fees Tax dissolvement of bonus reserve 1) 7 Shared Services & Group Staffs Withholding tax Tax dissolvement of bonus reserve 1) 1 Total taxes Profit for the period ) The dissolvement of bonus reserves in Q4 should only be seen as a non-recurring when looking at Q4 isolated and not when looking at full year figures. 14

16 B3B3B3B3B3B3 Lending Retail Deposits Large Corporates & Institutions Treasury, Trading and Capital Markets Asset Management Baltic Payment, Cards Russia&Ukraine Insurance Share of P&L of associates Asset Management Other Shared Services and Group Staffs Non-recurring items Key figures, 9-quarter Key figures, Group Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q Return on equity, % Return on total assets,% Return on RWA, % 1) Credit impairment ratio, % Total provision ratio for impaired loans, % Capital adequacy ratio, %, transition rules 2) Capital adequacy ratio, % Basel 2, 2) Core Tier 1 capital ratio, % transition rules 2) Core Tier 1 capital ratio, % Basel 2, 2) Tier 1 capital ratio, %, transition rules 2) Tier 1 capital ratio % Basel 2, 2) Cost/Income ratio Loan/Deposit ratio, % Earnings per share, SEK ) RWA according to transition rules 2) Including total subscribed capital Q4 28 Income Profit before impairments Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Group Income ex non-recurring items Non-recurring items Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Profit before impairments and non-recurring items Non-recurring items Income SEKbn Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Profit before impairments and non-recurring items by business area SEKbn Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 15

17 B4B4B4B4B4B4 Income analysis Income analysis, Group Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Net interest income; 1) Net interest income, lending Net interest income, deposits Net interest income, other Net interest income, total Commission income; Payment processing Asset management Brokerage Lending Corporate Finance Insurance Other securities Other commissions receivable Commission income, total Commission expenses; Payment processing Securities Brokerage Insurance Other commissions payable Commission expenses, total Net commission income, total Financial instruments for trading of which stock related of which interest rate related of which fx related of which other Financial instruments intended to hold until maturity Of which change in value open interest rate exposure Swedbank Mortgage Net gains and losses on financial items at fair value, total Net insurance Share of profit/loss of associates; Färs & Frosta Sparbank Swedbank Sjuhärad Other jointly owned banks in Sweden BGC-Holding EnterCard Holding NCSD Holding Other companies Profit/loss of associates, total Other income; Real estate income IT/administrative services to savings banks Other Other income, total Non-recurring items Total income of which Baltic of which Russia & Ukraine ) NII Lending is defined as customer interest income minus internal funds transfer price. NII deposits is defined as internal funds transfer price minus customer interest expense and deposits guarantee fees. Methods for calculating internal transfer prices are based on matched funding principles but have been changed over time, primarily on floating rate products, making historic time series not fully comparable. 16

18 B5B5B5B5B5B5 Net Interest Income Analysis, Group Net interest income Analysis, Group Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 % Interest income Loans to credit institutions Loans to the public Innterest-bearing securities Other Total Interest income Interest expenses Amounts owed to credit institutions Deposits and borrowings from the public of which deposits guarantee fees Debt securities in issue of which state guarantee fees Subordinated liabilities Other of which stability fee Total interest expenses Derivatives, income Derivatives, expenses Derivatives, net interest income Net interest income Average balances Loans to credit institutions Loans to the public Interest-bearing securities Interest-bearing assets Derivatives Other assets Total assets Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Subordinated liabilities Interest-bearing liabilities Derivatives Other liabilities Total liabilities Equity Total liabilities and equity Average interest rates, % Loans to credit institutions Loans to the public Interest-bearing securities Interest-bearing assets Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Subordinated liabilities Interest-bearing liabilities Net interest margin Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. 17

19 B5B5B5B5B5B5 Net Interest Income Analysis, Group Net interest income, quarterly Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Lending 1) Deposits 1) Other Net interest income, total Net interest income analysis, quarterly Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Change from previous quarter: Lending volumes Lending margins Depreciation of surplus Difference in number of days/quarter lending Deposit volumes Deposit margins Difference in number of days/quarter deposit Other changes Total change in net interest income Quarterly isolated margins, % Lending Deposits Quarterly isolated average volumes, SEKbn Lending Deposits Net interest income, accumulated Mar Ch. % Dec Sep Jun Mar Dec Sep Jun Mar 21 Y/Y Lending 1) Deposits 1) Other Net interest income, total Net interest income analysis, accumulated Mar Ch. % Dec Sep Jun Mar Dec Sep Jun Mar 21 Y/Y Change from equivalent period last year: Lending volumes Lending margins Depreciation of surplus Difference in number of days/quarter lending Deposit volumes Deposit margins Difference in number of days/quarter deposit Other changes Total change in net interest income Accumulated margins, % Lending Deposits Accumulated average volumes, SEKbn Lending Deposits ) NII lending is defined as customer interest income minus internal funds transfer price. NII deposits is defined as Interna funds transfer price minus customer interest expense and deposits guarantee fees. Methods for calculating internal transfer prices are based on matched funding principles but have been changed over time, primarily on floating rate products, making historic time series not fully comparable. 18

20 B8B8B8B8B8B8 Margins Deposit margins Lending margins 5, % 5, % 4,5 4,5 4, 4, 3,5 3,5 3, 3, 2,5 2,5 2, 2, 1,5 1,5 1, 1,,5,5,, Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Latvia Estonia Lithuania Sweden Estonia Lithuania Latvia Sweden Net interest margins 1) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 % Lending margins Sweden Estonia Latvia Lithuania Group Deposit margins Sweden Estonia Latvia Lithuania Group ) NII lending is defined as customer interest income minus internal funds transfer price. NII deposits is defined as Interna funds transfer price minus customer interest expense and deposits guarantee fees. Methods for calculating internal transfer prices are based on matched funding principles but have been changed over time, primarily on floating rate products, making historic time series not fully comparable. 19

21 B9B9B9B9B9B9 Expense analysis Expense development Quarterly expenses excl non-recurring items Q1-8 Q2-8 Baltic Q3- Q4-8 8 Total expenses Q1-9 Large Corp. & Inst Expense analysis, Group Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Staff costs Salaries and other remunerations Pension costs Social Insurance charges Allocation to profit-sharing fund Training costs Other staff costs Staff costs, total of which variable staff costs 2) of which redundancy cost Other expenses Expenses for premises IT expenses Consulting and outside services Telecommunications and postage Marketing Security transports, alarm systems Expenses repossessed assets Other 2) Depreciation/amortisation 2) Total other expenses Non-recurring items 1) Total expenses of which Baltic of which Russia & Ukraine ) See page 14 for details. 2) Excluding non-recurring items, specified on page 14 Q2- Q3-9 9 Retail Q4-9 Russia & Ukraine Q Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Other expenses Staff costs excl. variable staff costs Variable staff costs Q4-9 Q1-1 2

22 BBB Employees Number of employees Number of employees by business area Q1/8 Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Retail Large Corp. & Baltic Inst. Russia & Ukraine Asset Management Ektornet Shared Services & Group Staffs Q1/8 Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Number of employees Q1 Ch. % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 21 Q/Q Retail Sweden Baltic region Norway Other 1) Large Corporate & Institutions Estonia Latvia Lithuania Baltic Russia Ukraine Other Russia & Ukraine Sweden Baltic region Asset Management Ektornet Sweden Baltic region Shared Services and Group Staffs Total number of employees ) Mainly Denmark, Finland, USA and China Employee turnover, % Mar Dec Sep Jun Mar Dec Sep Retail Large Corporate & Institutions Baltic Russia & Ukraine Asset Management Ektornet Shared Services and Group Staffs Total employee turnover, % Number of permanent employees that left the company during period divided by permanent employees at start of year. YTD number of permanent employees that left the company is recalculated to yearly figures. 21

23 B1B1B1B1 Customer satisfaction index Customer satisfaction index, private Sweden Estonia Latvia Lithuania Customer satisfaction index 1) Sweden Share of satisfied private customers Share of satisfied corporate customers Estonia Index private customers Index corporate customers Latvia Index private customers Index corporate customers Lithuania Index private customers Index corporate customers ) Sweden and Lithuania have a customer satisfaction scale of 1 to 1. Estonia and Latvia have a scale of 1 to 1. Customer satisfaction index 29 is based on TRIM index in the Baltic countries and on SKI in Sweden. 22

24 B2B2B2B2 Exchange rates and impact from exchange rate fluctuations Exchange rates Mar Dec Sep Jun Mar Dec Sep Jun Mar SEK/EUR, average rate SEK/EUR, closing day rate SEK/EEK, average rate SEK/EEK, closing day rate SEK/UAH, average rate SEK/UAH, closing day rate SEK/RUB, average rate SEK/RUB, closing day rate SEK/USD, average rate SEK/USD, closing day rate UAH/USD, closing day rate RUB/USD, closing day rate Volumes, SEKbn Retail Large Corp. & Inst. Baltic Russian Ukrainian Asset Manage. Other Group Lending Balance, Ordinary change Exchange rate fluctuations Market valuation Balance, Deposits from the public, excl repos Balance, Ordinary change Exchange rate fluctuations Balance, Risk weighted assets, Basel 2 Balance, Ordinary change Exchange rate fluctuations Balance, Impaired loans, gross Balance, Ordinary change Exchange rate fluctuations Balance,

25 B3B3B3B3 Impact from exchange rate fluctuations, Income statement Income statement, Retail Large Corp. & Inst. Baltic Russian Ukrainian Asset Manage. Other Group Income Mar 29, YTD Mar 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations Expenses Mar 29, YTD Mar 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations Credit impairments, net Mar 29, YTD Mar 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations Profit for the period Mar 29, YTD Mar 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations