Facts. Q2, 2010 July 22, 2010

Transcription

1 Facts Q2, 21 July 22, 21

2 Q2, July 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 17 Expense analysis 18 Employees 19 Customer satisfaction index 2 FX-positions, Exchange rates and Impact from exchange rate fluctuations 21 Impact from exchange rate fluctuations 22 Currency distribution 23 Business areas 24 Profit before impairments and non-recurring items by business area Retail 27 Swedbank Insurance 28 Large Corporates & Institutions 29 First Securities 3 Baltic Banking 31 Baltic Banking Operations 32 Estonia 33 Latvia 34 Lithuania 35 Other and Investment 36 Russia & Ukraine 37 Russian Banking 38 Ukrainian Banking Operations 39 Ukrainian Banking Investment 4 Russia & Ukraine, other 41 Asset Management 42 Ektornet 43 Shared Services and Group Staffs, Eliminations 44 Asset quality 45 Balance sheet, Equity and Goodwill 45 Derivatives 46 Outstanding subordinated loans 47 Capital adequacy analysis 48 Sensitivity analysis and maturity distribution 49 Credit risks 5-51 Asset quality Credit quality 55 Credit impairments 56 Impaired loans Loans past due 59 Interest bearing securities 6 Organisation, Group Executive Committee and Rating 61 Shareholders and share data 62 Definitions 63 Contacts and financial calendar 64

3 Geographic reach Q2, 21 Swedbank Group, distribution 1% 8% 6% 4% 2% % Profit before impairments and nonrecurring items 79 Loans 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 283 of which internet customers 266 Organisations 112 Branches 362 ATMs 772 Cards 3.7m Estonia Population 1.3m Employees Private customers 1.2m of which Internet customers.8m Corporate customers 1 Branches 65 ATMs 548 Cards 1.1m Lithuania Population 3.4m Employees 2 37 Private customers 3.2m of which Internet customers 1.2m Corporate customers 93 Branches 98 ATMs 451 Cards 1.7m Latvia Population 2.3m Employees Private customers 1.m of which Internet customers.8m Corporate customers 62 Branches 59 ATMs 373 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 Banking China - Branch in Shanghai Japan - Representative office in Tokyo Spain - Representative office in Marbella 2

4 Macro economic indicators Q2, 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 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 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 Jun-1 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 Jun-1 Macro economic indicators Q2, 21 % 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 Q1-1 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 H1-1 Tallin Vilnius Riga 2) Average sales price per sqm for apartments Source: Land boards of respective country 4

6 BBBBB Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Business volumes Q2, 21 Loans to and deposits from the public 1) Assets under management SEKbn % SEKbn Loans Deposits Loan/Deposit ratio Discretionary Unit-linked insurance Funds Loans to the public 1) Deposits from the public 1) SEKbn SEKbn Retail Large Corp. & Inst Estonian Banking Latvian Banking Lithuanian Banking Ukrainian Banking Russian Banking Retail Large Corp. & Inst Estonian Banking Latvian Banking Lithuanian Banking Ukrainian Banking Russian Banking Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 1) Excluding Swedish Nat'l Debt Office and repurchase agreements 5

7 B1B1B1B1B1 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 Mar-1 Mar-1 May-1 May-1 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 Mar-1 Mar-1 May-1 May-1 Loans to the public 1) Q2, 21 Sweden SEKbn % Estonia EURbn % Total loans 1) Mortgage loans Total loans 1) Mortgage loans Total loans growth 12m Mortgage growth 12m Total loans growth 12m Mortgage growth 12m Latvia EURbn 3 % 1 Lithuania EURbn 3 % Total loans 1) Mortgage loans Total loans 1) Mortgage loans Total loans growth 12m Mortgage growth 12m Total loans growth 12m Mortgage growth 12m Loans by sector, Group Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 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 Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Loans to the public 1) Credit institutions, incl Swedish Nat'l Debt Office Repurchase agreements (Repos) of which to the public of which to credit institutions 2) Loans ) Excluding Swedish Nat'l Debt Office and repurchase agreements 2) Including repurchase agreements for Swedish Nat'l Debt Office 6

8 B2B2B2B2B2 Loans to the public 2) Q2, 21 Loans to the public, Swedbank Group 2) Loans to the public, Swedbank Mortgage AB 2) 3 June 21 (31 December 29) 3 June 21 (31 December 29) Property SEK 1 159bn (1 192) Corporate mgmt and SEK 681bn (672) excl. Housing Property cooperatives mgmt and 19% (2) Housing Single-family cooperatives homes 25% (26) 61% (6) Private individuals, other 11% (11) Swedbank Mortgage, private individuals 45% (43) Business properties 1% (1) Multi-family housing 15% (16) Agriculture 6% (6) Municipal loans and guarantees 2% (3) Individual condominiums 15% (14) Loans to the public, by country 2) Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 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 -1 Other Ukraine Bank loans - private Bank loans - corporate Other 1) Loans to the public 2) The percentage change is calculated in local currency. 1) Mainly Norway, Denmark, Finland, Luxemburg and USA 2) Excluding Swedish Nat'l Debt Office and repurchase agreements 7

9 B3B3B3B3B3 Market shares, fund assets, Sweden 3 June 21 (31 March 21) Others 35.1% (34.5) Länsförsäkringar 3.7% (3.9) SHB 8.6% (8.5) Nordea 12.5% (12.3) Swedbank Robur 24.4% (25.1) Savings and Investments Q2, 21 SEB 15.7% (15.7) Savings and investments, Swedbank Group 3 June 21 SEKbn 7 Deposits Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 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 - corporate Deposits from the public 1) 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 Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 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 Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun Balance, SEKbn 21 Q/Q Y/Y Retail bonds and other bonds Discretionary asset management Unit-linked insurance Eliminations Total savings and investments Depot volumes, SEKbn Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 21 Q/Q Y/Y Private/Corporate Institutional (Custody) Eliminations Total depot volumes ) Excluding Swedish Nat'l Debt Office and repurchase agreements Asset mgmt 55 Deposits from the public 1) 29 Retail bonds and other bonds

10 B4B4B4B4B4 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Other products Q2, 21 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 Q Q >15 Q1,21 Q2,21 Number of products >15 Q1,21 Q2,21 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 31 May 21 % Market shares Q2, 21 % Market shares, Estonia, Latvia, Lithuania Balance 31 May 21 Market shares, % Loans * Mortgage Deposits Private Corporate Estonia Latvia Lithuania Balance Net growth May Dec Dec Dec Dec May FY FY FY FY Sweden Loans *, private of which mortgage loans Deposits, private >1 28** 4** 25 3 Pensions, private (Mar. 21) Mutual funds (Jun. 21) *** neg. neg. 2 Loans *, corporate neg. neg. neg of which mortgage loans neg neg. Deposits, corporate neg Pensions, corporate (Mar. 21) Index linked bonds (Jun. 21) neg. 2 neg Stock trading, turnover (Jun. 21) Estonia Loans *, private neg. neg of which mortgage loans neg. neg Deposits, private Pensions, private neg Loans *, corporate neg. neg Deposits, corporate neg Latvia Loans *, private neg. neg of which mortgage loans neg. neg Deposits, private neg. neg. neg Pensions, private Loans *, corporate neg. neg Deposits, corporate neg. neg. neg Lithuania Loans *, private neg. neg of which mortgage loans neg. neg Deposits, private neg. neg. neg Pensions, private Loans *, corporate neg. neg Deposits, corporate neg. 2 3 Ukraine Loans *, private neg. neg. 3 3 of which mortgage loans neg. neg. 5 1 Deposits, private neg. Loans *, corporate neg. neg. 3 3 Deposits, corporate neg. neg. 1 3 * Excluding credit institutions, Swedish Nat'l Debt Office and repurchase agreements ** Market share for Sweden deposits private adjusted for sold branches. Loans *, corporate Mortgage, private Deposits, private *** In 21 the source has been changed to MoneyMate in order to get the data on a monthly basis. In the source is still Svensk Fondmarknad 1

12 BBBBBB Income statement, 5-year summary Q2, 21 Income statement, Group Jan - Jun Jan - Jun Ch. FY FY FY FY FY % 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 - Jun Jan-Jun Ch. FY FY % 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 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 Q2-21, see page 14 for details 28 Q1, Capital Gains branch offices SEK 44m 27, Capital gains; CEK AB SEK 4m, Sparebanken 1 and Norwegian PCC shares SEK 21m 26, Capital gains; Sparebanken 1 and Norwegian PCC shares SEK 257m 25, Capital gains; Sparebanken 1 and Norwegian PCC shares SEK 51m, Entercard SEK 8m and Kundinkasso SEK 1 421m 2) See page 14 for details 11

13 B1B1B1B1B1B1 Key figures and Balance sheet data, 5-year summary Q2, 21 Key figures, Group Jan - Jun Jan - Jun 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 Jun 3 Jun 3 Ch. Dec 31 Dec 31 Dec 31 Dec 31 Dec % Loans 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 ) Loans to the public excluding Swedish Nat l Debt Office and repurchase agreements (repos), SEK 1 159m as per ) Excluding repurchase agreements (repos), SEK 55m as per

14 B2B2B2B2B2B2 Income statement, 9-quarter summary Q2, 21 Source of income Split of commission income % % Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Q2 1 Net interest income Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Q2 1 Net commission income Net gains/losses on financial items Asset management Payments Brokerage Lending Other Income statement, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 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 Statement of Comprehensive Income Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 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 Q2, 21 Non-recurring items Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q Retail Capital gain MasterCard 11 Capital gains branch offices Share of profit/loss of associates VISA Sweden 322 Capital Loss Bergslagen Sparbank -3 Baltic Banking Capital gain Estonian stock exchange 15 Capital gain PKK 66 Capital gain MasterCard 13 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 Banking 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 Tax capital loss Bergslagens Sparbank -1 Large Corporates & Institutions Tax dissolvement of bonus reserve 1) 78 Baltic Banking Tax dissolvement of bonus reserve 28 9 Tax on capital gain MasterCard 2 Asset Management Tax repayed fund mgm fees Tax dissolvement of bonus reserve 1) 7 Shared Services & Group Staffs Withholding tax -114 Tax dissolvement of bonus reserve 1) 1 Total taxes Profit for the period ) 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. 14

16 B3B3B3B3B3B3 Lending Retail Deposits Large Corporates & Institutions Treasury, Trading and Capital Markets Asset Management Baltic Banking 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 Q2, 21 Key figures, Group Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 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 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Group Income ex non-recurring items Non-recurring items Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Profit before impairments and non-recurring items Non-recurring items Income SEKbn Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Profit before impairments and non-recurring items by business area SEKbn Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 15

17 B4B4B4B4B4B4 Income analysis Q2, 21 Income analysis, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q Net interest income; 1) Net interest income, lending Net interest income, deposits Net interest income, other Net interest income 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 Banking 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 Q2, 21 Net interest income Analysis, Group Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 % Interest income Loans to credit institutions Loans to the public Interest-bearing securities Other Total Interest income Interest expenses Amounts owed to credit institutions Deposits and borrowings from the public of which deposits guarantee fees Debt securities in issue of which state guarantee fees Subordinated liabilities Other of which stability fee Total interest expenses Derivatives, income Derivatives, expenses 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 B9B9B9B9B9B9 Expense analysis Q2, 21 Expense development Quarterly expenses excl non-recurring items Q2-8 Q3-8 Baltic Banking Q4- Q1-8 9 Total expenses Q2-9 Large Corp. & Inst Expense analysis, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 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 Banking of which Russia & Ukraine ) See page 14 for details. 2) Excluding non-recurring items, specified on page 14 Q3- Q4-9 9 Retail Q1-1 Russia & Ukraine Q Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Other expenses Staff costs excl. variable staff costs Variable staff costs Q1-1 Q2-1 18

20 BBB Employees Q2, 21 Number of employees Number of employees by business area Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Q2/1 Retail Large Corp. & Baltic Banking Inst. Russia & Ukraine Asset Management Ektornet Shared Services & Group Staffs Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Q2/1 Number of employees Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q Retail Sweden Baltic Region Norway Other 1) Large Corporate & Institutions Estonia Latvia Lithuania Baltic Banking 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, % Jun Mar Dec Sep Jun Mar Dec Sep Retail Large Corporate & Institutions Baltic Banking 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. 19

21 B1B1B1B1 Customer satisfaction index Q2, 21 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. 2

22 B2B2B2B2 Exchange rates and impact from exchange rate fluctuations Q2, 21 Exchange rates Jun Mar Dec Sep Jun Mar Dec Sep Jun 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 Banking Russian Banking Ukrainian Banking Asset Manage. Other Group Loans to the public excluding Swedish Nat'l Debt Office and repurchase agreements Balance, Ordinary change Exchange rate fluctuations Market valuation Balance, Balance, Ordinary change Exchange rate fluctuations Market valuation Balance, Deposits from the public excluding Swedish Nat'l Debt Office and repurchase agreements Balance, Ordinary change Exchange rate fluctuations Balance, Balance, Ordinary change Exchange rate fluctuations Balance, Risk weighted assets, Basel 2 Balance, Ordinary change Exchange rate fluctuations Balance, Balance, Ordinary change Exchange rate fluctuations Balance, Impaired loans, gross Balance, Ordinary change Exchange rate fluctuations Balance, Balance, Ordinary change Exchange rate fluctuations Balance,

23 B3B3B3B3 Impact from exchange rate fluctuations, Income statement Q2, 21 Income statement, Retail Large Corp. & Inst. Baltic Banking Russian Banking Ukrainian Banking Asset Manage. Other Group Income Jun 29, YTD Jun 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations Expenses Jun 29, YTD Jun 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 Jun 29, YTD Jun 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 Jun 29, YTD Jun 21, YTD Total change of which due to exchange rate fluctuations , Q , Q Total change of which due to exchange rate fluctuations