Facts Q February, 2012

Transcription

1 Facts Q February, 2012

2 44B 4B 44B 4B Contents page page General information 2 Asset quality 43 Swedbank in brief 2-3 Credit risks Macro economic indicators 4-5 Asset quality Income statement, key figures and Balance sheet 6 Credit impairments 48 Income statement, 5-year summary 6 Impaired loans Income statement, 9-quarter summary 7 Loans past due 51 Balance sheet, 5-year summary 8 Capital adequacy 52 Balance sheet, 9 quarters, Equity and Goodwill 9 Key credit risk capital adequacy parameters 52 Net interest income analysis 10 Capital requirement framework 53 Income analysis 11 Capital adequacy 54 Expense analysis 12 Outstanding subordinated debt 55 Variable pay 13 Liquidity & Funding 56 Business areas 14 Interest bearing Securities 56 Retail Liquidity reserve and additional Liquid Assets 57 Swedbank Insurance 16 Liquidity ratios 58 Large Corporates & Institutions Debt securities in issue 59 Baltic Banking 19 Maturity profile, long-term funding 60 Baltic Banking Outstanding benchmark bonds 61 Estonia 21 Outstanding short-term funding 62 Latvia 22 Cover pool data Lithuania 23 Swedbank Mortgage AB, Asset Quality 66 Other 24 Rating 67 Asset Management Key figures, 5-year summary 68 Russia & Ukraine Key figures, 9-quarter summary 69 Russian Banking 29 Market shares 70 Ukrainian Banking 30 Employees 71 Other 31 FX-positions, Exchange rates, Impact from Ektornet exchange rate fluctuations and Currency distribution Group Functions Sensitivity analysis and maturity distribution 74 Tresury 37 Shareholders and share data 75 Eliminations 38 Definitions 76 Business volumes 39 Contacts and financial calendar 77 Loans 39 Amounts owed to credit institutions and deposits 40 Derivatives 41 Deferred Tax Assets 42

3 Swedbank in brief Swedbank is a bank for the many households and businesses, offering a wide range of financial products and services. The key is a traditional banking model that focuses on close customer relationships and advisory services. Swedbank is the largest bank in Sweden based on number of customers and is the leader in many market segments in its four home markets. Markets Four home markets: Sweden, Estonia, Latvia, Lithuania. Present in 9 other countries. Number of customers 9.7 million private customers and corporate and organisational customers. Number of branches Just below 600 Financial targets Return on equity: The return on equity shall amount to 15 per cent. Capitalisation: The Board of Directors has resolved to withdraw its capitalisation target. In the opinion of Swebank s management today, Swedbank will need a core Tier 1 capital ratio of 13.5 to 14.5 per cent. Dividend: The dividend will correspond to 50 per cent of aftertax profit, provided that the bank meets its capitalisation goals. Number of full-time employees Priorities 2012 Improve customer satisfaction Adapt our offering to various customer groups Purpose To promote a sustainable financial situation for many households and businesses. Match employee competence to customer needs Increase decision-making close to our customers: Clarify and continue to implement Values the uniform framework Simple, Open, Caring Increase local business acumen Long-term strategy A bank for the many: Swedbank is an inclusive rather than exclusive bank. The aim is to develop large customer bases, long-term customer relationships and high market shares in our four home markets. Close to customers: By being close to our customers, we gain a better understanding of their situation and needs, enabling us to provide the right advice and make fast decisions when required. Close customer relationships and a high level of service are enabled by a widespread branch network, coupled with highly advanced Internet, Telephone and Mobile banks. Grow with existing customers: Gain a larger share of our customers banking business Continue to work with risk-based pricing Improve quality and cost effectiveness: Standardise and coordinate processes Increase cost focus Capital and liquidity management: Improve the understanding of risk-weighted assets and capital efficiency within the organisation Improve our relative cost of capital market funding Uniform framework and local decision-making: A uniform framework for the entire Group together with local decisionmaking authority, facilitates faster decisions close to the customer. Local units are responsible for customer relationships and results. Development and production of the bank s products are handled at Group level. Strong leadership is crucial to our governance model, with a clear delegation of responsibility. We therefore focus on long-term recruitment, training and development of leaders. A low risk level: Swedbank shall have a low risk level. The risk in its assets is managed with the long term in mind, so that the Tier 1 capital ratio does not decline by more than three percentage points in an adverse scenario. A vast majority of exposures are in Sweden. Good risk diversification is achieved through a broad base of customers and businesses from many different industries. The bank will maintain a sustainable balance between lending and deposits in each of its home markets. Good control and focus on costs: Staying compettive requires us to continiously work with costs. We do so primarily in three ways: - Through a corporate culture where everyone is aware and cautious about costs. - By continuosly adapting our organisation and costs to current conditions - By capitalising on economies of scale based on our high market shares in each home market - not least in terms of effective process support and IT 2

4 Swedbank in brief Sweden Population: 9.3m Private customers: 4.1m Corporate customers: Organisations: Branches: 317 ATMs: 662 Cards: 3.8m Employees: Latvia Population: 2.2m Private customers: 1.0m Corporate customers: Branches: 59 ATMs: 380 Cards: 1.0m Employees: Estonia Population: 1.3m Private customers: 1.2m Corporate customers: Branches: 63 ATMs: 534 Cards: 1.1m Employees: Lithuania Population: 3.3m Private customers: 3.2m Corporate customers: Branches: 84 ATMs: 492 Cards: 1.8m Employees: To support the business in Swedbank's four home markets, Swedbank is also established in neighbouring markets such as Finland, Norway, Denmark and Russia as well as certain other countries such as the US, China, Luxembourg and Spain. Swedbank also conducts banking operations in Ukraine. Group operational structure Swedbank is organised in six business areas, supported by Group functions. Group executive committee Michael Wolf, president and CEO Thomas Backteman, Head of Corporate Affairs Håkan Berg, Goup Chief Risk Officer Mikael Björknert, Head of Group Business Support Birgitte Bonnesen, Head of Baltic Banking Göran Bronner, Chief Financial Officer Catrin Fransson, Head of Retail Magnus Gagner Geeber, Head of Large Corporates & Institutions Marie Hallander Larsson, Head of Group Human Resources Cecilia Hernqvist (Secretary), Head of Group Legal Thomas Eriksson (adjunct), Head of Asset Management Helena Nelson (adjunct), Head of Group Compliance 3

5 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Nov-11 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Macro economic indicators GDP growth Average inflation rate (consumer price growth) % 2013F 2012F 2011F % 2013F 2012F 2011F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Current account balance, % of GDP General Government Financial Balance, % of GDP 2013F 2012F 2011F F 2012F 2011F Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania General government debt, % of GDP 2013F 2012F 2011F GDP per capita (PPP) 2010, USD Inhabitants (millions) GDP (2010, USDbn) Sweden Sweden Estonia Estonia Latvia Latvia Lithuania Lithuania Unemployment % 2013F 2012F 2011F Sweden Estonia Latvia Lithuania Source: Swedbank Economic Research Department Total market, loans to the public by Country SEKbn Sweden EURbn 30 Estonia Total loans 1) Mortgage loans Total loans 1) Mortgage loans EURbn Latvia EURbn Lithuania Total loans 1) Mortgage loans Total loans 1) Mortgage loans 1) Excluding repurchase agreements 4

6 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Macro economic indicators Interest rates: Sweden & Eurozone, % Interest rates: Baltics & Eurozone, % Repo rate (SWE) Real estate price development, Sweden 1) SEK Q3-11 Sweden Gothenburg ECB Euro rate 90 days Euribor 90 days Stibor (SWE) Stockholm Malmö 90 days Vilibor (Lithuania) 90 days Rigibor (Latvia) 90 days Euribor Real estate price development, Baltics 2) EUR/m Q4-11 Tallin Riga Vilnius 1) Median price for a single family home 2) Average sales price per sqm for apartments Source: Swedbank's Boindex (real estate price index) Source: Land boards of respective country Turnover General index and turnover, equities, NASDAQ OMX, Stockholm Index Sthlm, SEKm turnover month OMX Stockholm PI (rs) 5

7 00B 0B Income statement, 5-year summary Income statement, Group FY FY FY FY FY FY SEKm 2011 % 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 Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment on tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax 4 Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of Comprehensive Income Jan-Dec FY FY FY SEKm 2011 % 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 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 Shareholders of Swedbank AB Non-controlling interests

8 22B 2B Income statement, 9-quarter summary Income statement, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2011 SEKm Net interest income Net commission income Net gains/losses on financial items, fair value Net insurance Share of profit or loss of associates Other income Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit Impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax 4 4 Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2011 SEKm 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 -75 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

9 11B 1B Balance sheet, 5-year summary Balance sheet 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec SEKm Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear the investment risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securites in issue Financial liabilities for which customers bear the investment risk Derivatives Other liabilites Subordinated liabilities Equity Total liabilities and equity

10 11B 1B Balance sheet 9 quarters, Equity and Goodwill Balance sheet 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm 2011 SEKm Assets Cash and balances with central banks Loans to credit institutions Loans to the public Interest-bearing securities Fund shares for which customers bear the investment risk Shares and participating interests Investments in associates Derivatives Intangible fixed assets of which goodwill Tangible assets Current tax assets Deferred tax assets Other assets Prepaid expenses and accrued income Assets held for sale Total assets Liabilities and equity Liabilities Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue, etc Financial liabilities for which customers bear the investment risk Derivatives Current tax liabilities Deferred tax liabilities Sold, not held, securities Other liabilities Accrued expenses and prepaid income Provisions Subordinated liabilities Liabilities directly associated with group of assets classified as held for sale Total liabilities Equity Non-controlling interests Equity attributable to shareholders of Swedbank AB Total equity Total liabilities and equity Equity attributable to shareholders Goodwill, 31 Dec 2011 of Swedbank AB, 31 Dec 2011 SEKm Swedbank AB (Sweden) Swedbank Robur 328 Swedbank Mortgage (Sweden) Swedbank Försäkring 651 Swedbank Finans (Sweden) Ölands Bank 9 Swedbank Robur (Sweden) Swedbank (Estonia) Swedbank Försäkring (Sweden) Swedbank (Latvia) Swedbank Luxembourg (Luxembourg) 145 Swedbank (Lithuania) Sparia Försäkring (Sweden) 584 First Securities 189 Swedbank (Estonia) Group total Swedbank (Latvia) Goodwill within parent company and subsidiaries: Swedbank (Lithuania) Swedbank AB JSC Swedbank (Ukraine) 684 Swedbank Robur AB 3 OAO Swedbank (Russia) Total goodwill OOO Leasing (Russia) 291 First Securities (Norway) 366 Ektornet AB (Sweden) Swedbank Babs Holding AB (Sweden 351 Other subsidiaries Total legal equity Group adjustments and eliminations Total equity attributable to shareholders of Swedbank AB SEKm 9

11 55B 5B Net interest income analysis, Group Net interest income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2011 SEKm Interest income Loans to credit institutions Loans to the public 1) 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 2) 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 Net interest income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 % 2011 % 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 ) In Q4 2010, penalties' related income in Baltics of SEK 191m was reclassified in line with Group accounting principles from other income to net interest income 2) Interest on all derivatives that economically hedge funding is recognised as an interest expense regardless of whether the contract s net interest is a gain or loss. Other derivative interest, trading derivatives and derivatives that financially hedge assets are recognised as interest income. Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. 10

12 44B 4B Income analysis Income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2011 SEKm Net interest income 1) 2) Payment processing Asset management Life insurance Brokerage Other securities Corporate Finance Lending and Guarantees Deposits Other commission income Net commission income Financial instruments for trading Financial instruments intended to hold until maturity Net gains and losses on financial items at fair value Net insurance Färs & Frosta Sparbank Swedbank Sjuhärad Other jointly owned banks in Sweden BGC-Holding EnterCard Holding UC Other companies Share of the profit or loss of associates Real estate income IT/administrative services to savings banks Assets taken over Other 1) 3) Other income Total income ) In Q4 2010, penalties' related income of SEK 191m was reclassified from other income to net interest income. 2) Q One-off revenue of SEK 206m related to commercial real estate loans taken over in relation to the bankruptcy estate of Lehman Brothers 3) Q One-off revenue of SEK 716m from a settlement with the bankruptcy estate of Lehman Brothers. 11

13 99B 9B Expense analysis Expense analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2011 SEKm Staff costs Salaries and other remunerations Variable staff costs 1) Pension costs 1) Social Insurance charges Training costs Other staff costs Total staff costs Other expenses Premises and rents IT expenses Consultants Other purchased services Telecommunications and postage Advertising, PR and marketing Security transport, alarm systems Expenses for repossessed assets 2) Other expenses Depreciation/amortisation 3) Total other expenses Total expenses ) Pension costs regarding variable staff costs is presented on row variable staff costs 2) Including expenses for assets taken over for protection of claims 3) Excluding expenses for assets taken over for protection of claims 12

14 22B 2B Variable pay Cash & shares Allocations (incl social insurance charges) SEKm Programmes 2010 Individual programme 2010 * 310 Other Total allocations * Forfeited performance rights are taken into account Programmes 2011 General programme Individual programme of which cash 144 of which shares 83 Other Total allocations, Income statement impact YTD SEKm 2011 Individual programme of which reversal of previous year's provisions -54 General programme Individual programme of which cash 144 of which shares 20 Other 92 Total 395 Equity-settled share based programmes Conditions Date of grant Number of shares granted Contractual life and service period Individual programme months: Individual programme (expected) (expected) 50 months: General programme (expected) (expected) 50%, 38 months: %, 50 months: Vesting conditions Performance targets reached during 2010, 50 months of service Performance targets reached during 2011, 50 months of service Performance targets reached during 2011, 38 and 50 months of service Exercise price 0 0 Recognised remuneration expense, including social insurance charges, during the contractual life SEKm Individual programme ) Individual programme FY 2011 FY 2015 expected General programme Total FY 2012 FY 2013 FY 2014 expected expected expected Number of granted rights at the closing of the period 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 expected expected expected expected Individual programme ) Individual programme General programme 2011 Total Reported expectations are built on annual renumerations of the YTD outcome. 1) Staff turnover is taken into account. 13

15 Retail YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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

16 Retail YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions Other information (millions) Number of Internet bank customers Number of internet bank payments Number of cards Number of card purchases Number of card aqcuiring Average number of products/ private customer Average number of products/ corporate customer Products per private customer, Sweden Number of customers, thousand Products per corporate customer, Sweden Number of customers, thousand >15 Q3, Number of products >15 Q3, 2011 Number of products 15

17 Swedbank Insurance YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Insurance premiums, net Income investment contracts Own fees Commissions from fund companies Income investment contracts, total Net investment income Other operating income Total income, gross Claims paid, net Change in provisions for claims oustanding, net Commissions to distributors Total income, net Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Key performance indicators Return on allocated equity, % Allocated equity, average SEKm Cost/Income ratio Asset under management, SEKbn Full-time employees

18 Large Corporates & Institutions YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets 7 Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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

19 Large Corporates & Institutions YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 18

20 Baltic Banking YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates -1 1 Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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 19

21 Baltic Banking YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions Other information (millions) Number of Internet bank customers Number of internet bank payments Number of cards Number of card purchases Number of card aquiring Amortisation plan Baltic Banking Investment Revalued lending Intangible assets, customer base

22 Estonia YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates -1 1 Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 21

23 Latvia YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage 1 Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 22

24 Lithuania YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue 1 Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 23

25 Other YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage -1 Other securities Lending and guarantees Deposits Corporate finance 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public 1 Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk 1 1 Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public -1 Debt securities in issue Financial liabilities for which customers bear inv. risk 2 2 Derivatives Other liabilities Subordinated liabilities -1 Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) 1 1 Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 24

26 Asset Management YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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 25

27 Asset Management YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Volumes, SEKbn Mutual funds & insurance Discretionary asset management Allocated equity, average, SEKm Risk-weighted assets, Basel Full-time employees Assets under management, SEKbn Sweden Estonia Latvia Lithuania Total fund assets under management of which interest-bearing securities, % of which Swedish equities, % of which foreign equities, % Discretionary asset management Fund asset management Total assets under management

28 Russia & Ukraine YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management -1-1 Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance 1 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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 27

29 Russia & Ukraine YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 28

30 Russian Banking YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management -1-1 Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance -1 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs -18 Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 29

31 Ukrainian Banking YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 30

32 Other Russia & Ukraine YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management -1 1 Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance 1 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs -9-9 Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Other investment volume Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel 2 Commitments Full-time employees ) Excluding intra-group transactions 31

33 Ektornet YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates 1 1 Other income Total income Staff costs Variable staff costs 4 4 Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax 4 4 Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Statement of comprehensive income 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 at fair value Reclassification adjustments to initial carrying amount of hedged item 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

34 Ektornet YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities -1 Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Volumes, SEKbn Allocated equity, average, SEKm Risk-weighted assets, Basel Full-time employees

35 00B 0B Ektornet Geographical split of carrying amounts, land and buildings taken over for protection of claims Carrying amount per country 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Sweden Norway Finland Estonia Latvia Lithuania USA Ukraine Total Classification of land and buildings taken over for protection of claims Carrying amounts Land & buildings IAS Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Residential properties Commercial properties (Office) 1) Commercial properties (Retail) Industrial properties Hotel and conference facilities Land Other properties Land & buildings IAS 40, total Land & buildings IAS 2 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Residential properties Commercial properties (Office) Commercial properties (Retail) Industrial properties Hotel and conference facilities Land Other properties Land & buildings IAS 2, total Total Land & buildings for protection of claims 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Residential properties Commercial properties (Office) 1) Commercial properties (Retail) Industrial properties Hotel and conference facilities Land Other properties Total ) For Q there is no split between office and retail available regarding commercial properties. 34

36 Group Functions YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance 1-1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income 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 at fair value -75 Reclassification adjustments to initial carrying amount of hedged item 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

37 Group Functions YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn Y/Y Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 36

38 Group Treasury YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Other securities Lending and guarantees Other commissions -5 5 Net commission income Net gains and losses on financial items at fair value Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Key performance indicators Return on allocated equity, % Cost/Income ratio Loan/Deposit ratio, % Volumes, SEKbn Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 37

39 Eliminations YTD YTD Δ % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Y/Y Income statement Net interest income Payment processing Asset management Life insurance Brokerage -1 1 Other securities Lending and guarantees Deposits Corporate finance -1-1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Profit for the period attributable to: Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Key figures Volumes, SEKbn Mutual funds & insurance Index linked bonds

40 11B 1B Loans Loans by sector, Group 31 Dec SEKbn % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKbn 2011 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 2) Repurchase agreements of which to the public of which to credit institutions 2) Loans Specification of loans to the public excluding Swedish National Debt Office and repurchase agreements By business area 31 Dec SEKbn % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKbn (excl intra-group transactions) 2011 Q/Q Y/Y Swedbank Mortgage - private Swedbank Mortgage - corporate Other - private Other - corporate Leasing and Factoring Retail Swedbank Mortgage - corporate Other - corporate Leasing and Factoring Large Corporates & Institutions 3) Bank loans - private Bank loans - corporate Mortgage loans - private Leasing and Factoring Other Baltic Banking Russia & Ukraine Other 3) 4-1 ###### Loans to the public 1) Specification of loans to the public excluding Swedish National Debt Office and repurchase agreements By country 31 Dec SEKbn % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKbn (excl intra-group transactions) 2011 Q/Q Y/Y Sweden Estonia Latvia Lithuania Norway USA Finland Russia Ukraine Denmark Other Loans to the public 1) ) Excluding Swedish National Debt Office and repurchase agreements 2) Including Swedish National Debt Office 3) 2011: Intra group movement of loans as a result of consolidated money market operations in Group Treasury 39

41 Amounts owed to credit institutions and deposits Amounts owed to credit institutions 31 Dec SEKbn % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKbn 2011 Q/Q Y/Y Central banks Banks Other credit institutions Repurchase agreements, banks Repurchase agreements, other credit institutions Amounts owed to credit institutions Deposits from the public 31 Dec SEKbn % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKbn (excl intra-group transactions) 2011 Q/Q Y/Y Retail of which on demand deposits of which savings account of which private of which corporate Large Corporates & Institutions 2) of which on demand deposits of which savings account Baltic Banking of which on demand deposits of which savings account of which private of which corporate Russia & Ukraine Other 2) Deposits from the public 1) Repurchase agreements, Swedish National Debt Office Repurchase agreements from the public Total deposits and borrowings from the public ) Excluding Swedish National Debt Office and repurchase agreements 2) 2011: Intra group movement of deposits as a result of consolidated money market operations in Group Treasury 40

42 Derivatives Derivatives Group SEKm Derivatives in hedge accounting Fair value hedge Interest-rate-related < 1 year > 1 year < 5 years > 5 years Swaps Currency-related Swaps Total Cash flow hedge Interest-rate-related Swaps Currency-related Swaps Total Net investment in foreign operations Interest-rate-related Swaps Currency-related Swaps Total Other derivatives Interest-rate-related Options Forward contracts Swaps Other Currency-related Options Forward contracts Swaps Other Equity-related Nominal value 31 Dec 2011 remaining contractual term to maturity Nominal amount Positive fair value Negative fair value Options Forward contracts Swaps Other Total Total derivatives before netting Netting agreements Total derivatives after netting of which cleared Dec Dec Dec Dec Dec Dec 2010 Maturity distribution regarding future hedged cash flows in cash flow hedge accounting SEKm < 1 year 1-3 years 3-5 years 5-10 years > 10 years Positive cash flows (assets) Negative cash flows (liabilities) Cash flows, net

43 44B 4B Deferred Tax Assets SEKm 31 Dec Sep 2011 % 31 Dec 2010 Deferred tax assets Tax loss carry-forwards Other items Non-recognised deferred tax assets Total

44 00B 0B Credit risks EAD 31 Dec 2011 SEKm Risk grades PD Retail IRB methodology Large Corporates & Institutions Baltic Banking Asset Management Russia & Ukraine Ektornet Group Functions Default Default High risk 0-5 > Augmented risk Normal risk Low risk < Total rated exposures Total non-rated exposures Total IRB methodology of which companies not included in Swedbank Group Standardised methodology Total standardised methodology of which companies not included in Swedbank Group Total IRB- and standardised methodology of which companies not included in Swedbank Group The tables distribute credit risks by Exposure at Default (EAD). EAD includes items on and off the balance sheet, e.g. guarantees, loans and derivatives. The amounts also include EAD from institutions in the Swedbank Financial Companies Group, but not in the Group, i.e. associates that are not fully consolidated. Insurance companies are not included in the Swedbank Financial Companies Group. EAD distribution 31 Dec 2011 % Risk grades PD Retail IRB methodology Large Corporates & Institutions Baltic Banking Asset Management Russia & Ukraine Ektornet Group Functions Default Default High risk 0-5 > Augmented risk Normal risk Low risk < Total rated exposures Total non-rated exposures Total IRB methodology of which companies not included in Swedbank Group 3.9 Standardised methodology Total standardised methodology of which companies not included in Swedbank Group 0.7 Total IRB- and standardised methodology of which companies not included in Swedbank Group 4.6 Total Total 43

45 00B 0B Credit risks EAD 31 Dec 2011 SEKm Risk grades PD Retail Corporates Institutions Other Total IRB methodology Default Default High risk 0-5 > Augmented risk Normal risk Low risk < Total rated exposures Total non-rated exposures Total IRB methodology of which companies not included in Swedbank Group Standardised methodology Central and local government Retail Institutions Corporates Exposure secured on residential property Other exposure classes Total standardised methodology of which companies not included in Swedbank Group Total IRB- and standardised methodology of which companies not included in Swedbank Group EAD distribution 31 Dec 2011 % Risk grades PD Retail Corporates Institutions Other Total IRB methodology Default Default High risk 0-5 > Augmented risk Normal risk Low risk < Total rated exposures Total non-rated exposures Total IRB methodology of which companies not included in Swedbank Group 3.9 Standardised methodology Central and local government 10.4 Retail 0.7 Institutions 0.1 Corporates 0.3 Exposure secured on residential property 0.4 Other exposure classes 4.3 Total standardised methodology 16.2 of which companies not included in Swedbank Group 0.7 Total IRB- and standardised methodology of which companies not included in Swedbank Group

46 00B 0B Asset quality Loans by collateral 1) 31 Dec 2011 (31 Dec 2010) Unsecured 9% (9) Chattel mortgages 1% (1) Other properties 13% (14) Personal guarantee 2% (2) Municipalities and county councils 2% (2) Other collateral 9% (8) 1) Excluding Swedish Nat'l Debt Office and repurchase agreements Residential properties incl. condominiums 64% (64) Credit risks, Group Carrying Provisions Portfolio Carrying Carrying Past due loans Sector/industry amount for individually provisions amount of amount more than Dec 2011 before assessed loans after of impaired days that are SEKm provisions impaired loans provisions loans not impaired Private customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Loans to the public excluding the Swedish National Debt Office and repurchase agreements Credit institutions 2) Repos, credit institutions Repos, public 2) Loans to the public and credit institutions ) Including Swedish National Debt Office Credit exposure, Carrying amount Dec Dec Dec Change Change SEKm SEKm % Sweden OECD countries 3) of which Denmark of which Norway of which Finland of which USA of which UK of which France of which Germany Baltic region of which Estonia of which Latvia of which Lithuania Ukraine Russia Latin America of which Brazil Japan Rest of East Asia of which South Korea of which China Other countries Cash and balances with central banks Other financial assets Total ) Excluding Sweden, Japan, Hungary, Mexico, Poland, Turkey, Slovakia, South Korea and the Czech Republic 45

47 11B 1B Asset quality Loans, gross, by business area 31 Dec 2011 SEKm Large Corporates & Retail Institutions Baltic Banking - of which Estonia - of which Latvia - of which Lithuania - of which Investment and Other Russia & Ukraine - of which Russia - of which Ukraine Other (mainly Group Treasury) Private customers Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Loans to the public excluding the Swedish National Debt Office and repurchase agreements Credit institutions 1) Repos, Credit institutions Repos, public 1) Total loans to credit institutions and to the public 2) Group Provisions by business area 31 Dec 2011 SEKm Large Corporates & Retail Institutions Baltic Banking - of which Estonia - of which Latvia - of which Lithuania - of which Investment and Other Russia & Ukraine - of which Russia - of which Ukraine Other (mainly Group Treasury) Provisions, private customers Provisions, corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Total Credit institutions 1) Repos, Credit institutions Repos, public 1) Total provisions to credit institutions and to the public 2) Loans, net, by business area 31 Dec 2011 SEKm Large Corporates & Retail Institutions Baltic Banking - of which Estonia - of which Latvia - of which Lithuania - of which Investment and Other Russia & Ukraine - of which Russia - of which Ukraine Other (mainly Group Treasury) Private customers Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Loans to the public excluding the Swedish National Debt Office and repurchase agreements Credit institutions 1) Repos, Credit institutions Repos, public 1) Total loans to credit institutions and to the public 2) ) Including Swedish National Debt Office 2) Excluding intra-group transactions Group Group 46

48 22B 2B Asset quality Impaired loans, gross, by business area 31 Dec 2011 SEKm Retail Large Corporates & Institutions Baltic Banking - of which Estonia Impaired loans, private customers Impaired loans, corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Impaired loans, municipalities Total Credit institutions 1) Total of which Latvia - of which Lithuania Russia & Ukraine - of which Russia - of which Ukraine Group Total provision ratio for impaired loans by business area 31 Dec 2011 % Retail Large Corporates & Institutions Baltic Banking - of which Estonia Private customers Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Municipalities Total Credit institutions 1) Total of which Latvia - of which Lithuania Russia & Ukraine - of which Russia - of which Ukraine Group Share of impaired loans gross by business area 31 Dec 2011 % Retail Large Corporates & Institutions Baltic Banking - of which Estonia Private customers Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Loans to the public Credit institutions 1) Total ) Incl Swedish National Debt Office Property taken over to protect claims and cancelled leasing agreements 31 Dec 2011 SEKm Retail Large Corporates & Institutions Baltic Banking - of which Estonia - of which Latvia - of which Latvia - of which Lithuania - of which Lithuania Russia & Ukraine Russia & Ukraine - of which Russia - of which Russia - of which Ukraine Group - of which Ukraine Ektornet Group Buildings and land Shares and participating interests Other assets Total property taken over to protect claims Finance leasing objects, cancelled agreements Total Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Buildings and land Condominiums Shares and participating interests Other assets Total property taken over to protect claims Finance leasing objects, cancelled agreements Total

49 44B 4B Credit impairments Credit impairments, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm Provisions Individual provisions, gross 1) Reversal of previous provisions Portfolio provisions Provisions, net Write-offs Established losses Utilisation of previous provisions Recoveries Write-offs, net Total ) Including credit impairments for contingent liabilities and other credit risk exposures, net Credit impairments by business area, SEKm Retail Large Corporates & Institutions Estonia Latvia Lithuania Investment and Other Baltic Banking Russia Ukraine Russia & Ukraine Group Functions Group Credit impairment ratio, % Retail Large Corporates & Institutions Estonia Latvia Lithuania Investment and Other Baltic Banking Russia Ukraine Russia & Ukraine Group Credit impairments by sector, Group, SEKm Private customers Private mortgage Private other Corporate customers Agriculture, forestry, fishing Manufacturing Public sector and utilities Construction Retail Transportation Shipping and offshore Hotels and restaurants Information and communication Finance and insurance Property management Housing cooperatives Professional services Other corporate lending Total Credit institutions Total

50 55B 5B Impaired loans and provisions Impaired loans by business area 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Impaired loans, gross Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Functions Group Individually identified impaired loan provisions Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Functions 1 1 Group Impaired loans, net Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Functions -1-1 Group All provisions for impaired loans Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Functions Group Impaired loans, total net Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Functions Group

51 66B 6B Impaired loans and provisions Provision ratio for impaired loans, % (excluding portfolio provisions) 31 Dec Sep Jun Mar Dec Sep Jun Mar Dec 2009 Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Total provision ratio for impaired loans, % (including portfolio provisions) Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Share of impaired loans, gross, % Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Share of impaired loans, net, % (excluding portfolio provisions) Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group Share of impaired loans, total net, % (including portfolio provisions) Retail Large Corporates & Institutions Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Group

52 77B 7B Loans past due Loans past due 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm to 60 days Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine more than 60 days Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine Loans past due ratio (more than 60 days) % Estonia Latvia Lithuania Baltic Banking Russia Ukraine Russia & Ukraine

53 Capital adequacy parameters for credit risk 31 Dec 2011 SEKm Retail Large Corporates & Institutions Baltic Banking Russia & Ukraine Other Total Retail - mortgages Exposure Exposure weighted average PD (incl defaults), % Exposure weighted average PD (excl defaults), % Exposure weighted average LGD, % Average risk weight, % Retail - other Exposure Exposure weighted average PD (incl defaults), % Exposure weighted average PD (excl defaults), % Exposure weighted average LGD, % Average risk weight, % Corporates Exposure Exposure weighted average PD (incl defaults), % Exposure weighted average PD (excl defaults), % Exposure weighted average LGD, % Average risk weight, % Corporate - specialised lending Exposure Average risk weight, % Institutions Exposure Exposure weighted average PD (incl defaults), % Exposure weighted average PD (excl defaults), % Exposure weighted average LGD, % Average risk weight, % Other IRB exposure classes Exposure Average risk weight, % Total IRB approach Exposure Exposure weighted average PD (incl defaults), % Exposure weighted average PD (excl defaults), % Exposure weighted average LGD, % Average risk weight, % Standardised approach Exposure Average risk weight, % Total exposures Exposure Average risk weight, %

54 44B 4B Capital adequacy parameters for credit risk Exposures 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Other IRB IRB total Standardised Total exposures Risk weighted assets Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Other IRB IRB total Standardised Total risk weighted assets Risk weighted assets, % Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Other IRB IRB total Standardised Total risk weighted assets Average PD, excluding defaults, % Retail of which Retail mortgage of which Retail other Corporate Institutions Total Swedbank FCG 1) Average LGD, % Retail of which Retail mortgage of which Retail other Corporate Institutions Total Swedbank FCG 1) Expected loss Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Total Swedbank FCG 1) Expected loss, non defaults Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Total Swedbank FCG 1) Expected loss, defaults Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Total Swedbank FCG 1) Defaults Retail of which Retail mortgage of which Retail other Corporate Corporate specialised lending Institutions Total Swedbank FCG 1) ) Only exposures calculated by IRB approach. FCG=Financial companies group 53

55 33B 3B Capital adequacy Capital adequacy according to Basel 2 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Shareholders' equity according to the Group balance sheet Non-controlling interests Anticipated dividend Deconsolidation of insurance companies Associated companies consolidated according to purchase method Unrealised value changes in financial liabilities due to changes in own creditworthiness Cash flow hedges Goodwill Deferred tax assets Intangible assets Net provisions for reported IRB credit exposures Shares deducted from Tier 1 capital Total core Tier 1 capital Core Tier 1 capital ratio, % Tier 1 capital contributions, of which a) Tier 1 instruments that must be converted during emergency situations b) Undated Tier 1 instruments without incentives to redeem c) Fixed term Tier 1 or undated Tier 1 instruments with incentives to redeem Total Tier 1 capital Tier 1 capital ratio, % Undated subordinated loans Fixed-term subordinated loans Deduction remaining duration Net provisions for reported IRB credit exposures Shares deducted from Tier 2 capital Total Tier 2 capital Less shares in insurance companies Total capital base Total capital adequacy ratio, % Capital quotient RWA Credit risks RWA Market risks RWA Operational risks RWA Settlement risks Total RWA, Basel Capital ratios according to Basel 2 transition rules 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Total RWA, Basel RWA Supplement during transition period Total RWA, Basel 2 transition rules Core Tier 1 capital ratio, % Tier 1 capital ratio, % Total capital adequacy ratio, % Capital quotient Capital ratios according to Basel 3 rules 1) 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm Total RWA Total core Tier 1 capital Core Tier 1 capital ratio, % ) Estimates based on Swedbank's current understanding of future regulations 54

56 Outstanding subordinated debt Swedbank AB (parent company) ISIN Value date Maturity date Coupon Call date Coupon after step-up Currency Nominal amount, local currency, m Carrying Rating amount, SEKm Moody's S&P Lower Tier 2 XS May May-17 3mth USD Libor+0.18% mth USD Libor % USD A3 XS Sep Sep % mth EURIBOR + 2.6% EUR A3 SE Dec Dec % mth Stibor + 2.8% SEK SE Dec Dec-17 3mth Stibor+1.30% mth Stibor + 2.8% SEK NO Dec Dec % mth NIBOR % NOK XS Jun Jun % mth EURIBOR + 3.8% EUR A3 A- SE Apr Apr % n.a. Non-innovative SEK Total Lower Tier Upper Tier 2 W94253AD8 19-Mar-97 Perpetual 8.01% mth USD Libor % USD Baa3 XS Sep-97 Perpetual 7.50% mth USD Libor % USD Baa3 XS Apr-98 Perpetual 5.00% mth YEN Libor + 1.9% JPY Baa3 Total Upper Tier Hybrid Tier 1 SE May-08 Perpetual 6mth Stibor+2.25% Non-innovative SEK W9421AA1 30-Sep-05 Perpetual 4.00% mth YEN Libor + 1.4% JPY Ba2 BBB- XS Mar-04 Perpetual 5.75% mth LIBOR % GBP Ba2 BBB- XS Sep-07 Perpetual 6.67% mth Stibor + 300bp SEK XS May-08 Perpetual 8.28% mth Stibor + 450bp SEK Total Hybrid Tier Total

57 Interest bearing securities and loans to credit institutions (>3 months maturities) 31 Dec 2011 Country SEKm Banks & other financial of which covered institutions bonds Government & municipalities Other nonfinancial companies Total Loans (net) to credit institions and balances with central banks with maturities over 3 months of which repos of which central banks Australia 1 1 Austria Bangladesh 22 Belgium Bulgaria Chile 4 China 5 Croatia Cyprus 5 5 Czech Republic Denmark Estonia Finland France Germany Ghana 15 Greece Hungary India 786 Indonesia 1 Italy Kenya 46 Kuwait 10 Latvia Lithuania Luxembourg Mexico 1 Netherlands Norway Poland Portugal Romania Russian Federation 255 Saudi Arabia 4 Slovakia Spain Sweden Tunisia 13 Turkey 710 United Kingdom United States Total SEKm Banks & other financial institutions Government & municipalities Other non-financial companies Sweden Other countries 56

58 Liquidity Reserve Liquidity Reserve, Group 1) According to the template defined by the Swedish Bankers' Association Total Currency distribution SEK EUR USD Other Cash and holdings in central banks Deposits in other banks available overnight Securities issued or guaranteed by sovereigns, central banks or multilateral development banks Securities issued or guaranteed by municipalities or Public sector entities Covered bonds Issued by other institutions Own issued Securities issued by non-financial corporates Securities issued by financial corporates (excl. covered bonds) Other Total ) 96% of the securities in the liquidity reserve per Q are rated AAA. Definition, Liquidity Reserve Assets included in the liquidity reserve should comply with the following: - assets shall be held by the Treasury function in a bank - assets can not be encumbered - market values are used for the assets - only unencumbered securities receiving 0-20% risk weight under the standardised approach to credit risk of the Basel II framework can be included - securities received in reverse repo transactions shall be included in the liquidity reserve and securities used as collateral for repo transactions shall be excluded Additional liquid assets Additional liquid assets, Group 2) Cash and holdings in central banks Deposits in other banks available overnight Securities issued or guaranteed by sovereigns, central banks or multilateral Total Currency distribution SEK EUR USD Other development banks Securities issued or guaranteed by municipalities or Public sector entities Covered bonds Issued by other institutions Own issued Securities issued by non-financial corporates Securities issued by financial corporates (excl. covered bonds) Other Total ) 80% of the additional assets fulfill the Liquidity Reserve definition by the Swedish Bankers Association except for that they are held outside the Treasury department. 57

59 Liquidity ratios Liquidity and funding ratios, % 31 Dec Sep 2011 Liquidity coverage ratio (LCR) Net stable funding ratio (NSFR) Liquidity position in relation to maturing wholesale funding during next 12 months liquidity reserve liquidity reserve + additional liquid assets Definitions Liquidity position in relation to maturing wholesale funding during next 12 months: Liquidity reserve according to definition by the Swedish Bankers' Association: - Additional liquid assets: Assets, pledgeable in central banks, held by the group outside of Group Treasury - Maturing wholesale funding during 12 months: All wholesale funding maturing within 12 months, including long-term debt, short-term debt and net of interbank funding. 58

60 33B 3B Debt securities in issue Group 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm % Commercial papers with government guarantee Other commercial papers Covered bonds Government guaranteed bonds Other interest-bearing bonds Structured retail bonds Total debt securities in issue Oct-Dec Jul-Sep Apr-Jun Jan-Mar Full year Turnover during the period Commercial papers with government guarantee Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance Other commercial papers Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance Covered bonds Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance Government guaranteed bonds Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance Other interest-bearing bonds Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance Structured retail bonds Opening balance Issued Repurchased Repaid Change in market value Changes in exchange rates Closing balance

61 Maturity profile, long-term funding Nominal amount, SEKm Domestic covered bonds 1) International Senior covered bonds unsecured bonds Government guaranteed bonds Structured retail bonds 1) Total Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Total ) Including intra-group holdings. FX distribution Nominal amount, SEKm SEK EUR USD CHF Other Total Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Total

62 Outstanding benchmark bonds SEK benchmark covered bonds (tap issuance) ISIN code Loan Coupon Maturity date Outstanding amount Outstanding, nominal amount, SEKm 1) number % 31 Dec Sept Jun Mar Dec 2010 SE SPI SE SPI SE SPI SE SPI SE SPI SE SPI SE SPI SE SPI ) Including intra-group holdings. Non-SEK benchmark covered bonds ISIN code Coupon Value date Maturity date Issuance Spread Issued amount Issued, nominal amount, EURm % EURm XS MS + 39 bps XS MS + 26 bps XS MS bps XS MS + 30 bps XS MS + 52 bps XS MS + 46 bps XS MS + 44 bps XS MS + 58 bps XS MS + 57 bps ISIN code Coupon Value date Maturity date Issuance Spread Issued amount Issued, nominal amount, USDm % USDm XS (US87020LAB27) 3mUSDLibor mUSDLibor + 45 bps XS (US87020LAA44) MS + 71 bps XS (US87020LAC00) MS + 82 bps ISIN code Coupon Value date Maturity date Issuance Spread Issued amount Issued, nominal amount, CHFm % CHFm CH mCHFLibor mCHFLibor + 22 bps 175 CH MS + 14 bps 375 CH mCHFLibor mCHFLibor + 30 bps 150 CH MS + 20 bps 150 CH mCHFLibor mCHFLibor + 27 bps 100 CH mCHFLibor mCHFLibor + 32 bps 175 CH MS + 20 bps 300 CH MS + 16 bps 350 CH MS + 18 bps 260 CH MS + 15 bps 100 CH MS + 15 bps 100 CH MS + 16 bps 150 Benchmark senior unsecured bonds ISIN code Coupon Value date Maturity date Issuance Spread Outstanding Issued, nominal amount, EURm % amount XS MS bps

63 Outstanding short-term funding Programme Outstanding volumes Outstanding, nominal SEKm Limit 31 Dec Sept Jun Mar Dec 2010 Swedbank AB Domestic CP SEK 80bn European CP/CD EUR 6bn USCP USD 15bn Yankee CD USD 10bn French CD EUR 4bn Finnish CD EUR 4bn Swedbank Mortgage AB Domestic CP SEK 50bn Total, Group

64 Cover pool data Cover pool 1) 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec Total assets in the cover pool, SEKbn 2) Number of borrowers Number of properties Average loan size, SEK Number of loans outstanding Over-collateralisation level 28.7% 24.5% 29.0% 27.0% 41.6% Average seasoning 60 months 59 months 58 months 57 months 57 months Type of loans in the pool Residentials 90.9% 91.2% 91.1% 90.9% 90.9% of which Single-family housing 61.7% 62.2% 61.8% 62.1% 62.0% of which Tenant owner rights 15.9% 15.8% 15.9% 15.9% 15.8% of which Tenant owner associations 9.4% 9.3% 9.5% 9.0% 9.2% of which Multi-family housing 3.9% 3.9% 3.9% 3.9% 3.9% Public 3) 1.8% 1.8% 1.9% 2.1% 2.2% Commercial 0.1% 0.1% 0.1% 0.1% 0.1% Forestry & Agriculture 7.2% 6.9% 6.9% 6.9% 6.8% Supplemental assets 0.0% 0.0% 0.0% 0.0% 0.0% Loan-to-value (LTV) Weighted Average LTV (property level) 57% 57% 57% 56% 56% Single-family housing 58% 57% 57% 57% 57% Tenant owner rights 63% 64% 63% 64% 63% Tenant owner associations 49% 49% 49% 49% 49% Multi-family housing 58% 58% 58% 58% 59% Commercial 47% 46% 47% 47% 44% Forestry & Agriculture 48% 48% 47% 46% 45% Public 3) n.a. n.a. n.a. n.a. n.a. Weighted Average LTV distribution (property level) 3), 4) LTV % % 20.5% 20.6% 20.7% 20.8% % 19.0% 19.0% 19.1% 19.2% % 16.8% 16.9% 16.9% 17.0% % 14.4% 14.4% 14.4% 14.4% % 12.0% 11.9% 11.9% 11.9% % 9.5% 9.4% 9.4% 9.3% % 6.4% 6.3% 6.2% 6.1% % 1.4% 1.4% 1.4% 1.3% 100.0% 100.0% 100.0% 100.0% 100.0% LTV calculation The calculation of the weighted average loan-to-value (WA LTV) for Swedbank's cover pool follows the method defined by the Association of Swedish Covered Bond Issuers (ASCB). In Sweden, one property can be financed with more than one mortgage. The ASCB LTV definition accounts for the highest LTV among all issued mortgages against a specific property. Public loans are not backed by property collateral, but rather government guarantees, and are hence not part of the LTV calculations. The presentation of the LTV distribution accounts for the total volume of mortgages within each LTV bracket. E.g. a loan with a LTV of 50% is sliced and accounted for in equal parts, in all LTV brackets up to 50%. For more detailed description of the ASCB LTV definition, please visit When calculating eligible loan amounts in the cover pool, the value component of the LTV is adjusted upwards only when a price increase can be statistically verified and only limited to certain single family properties. Statistically verified property price declines are however always taken into account, on all property types, when calculating eligible loan amounts in the cover pool. 1) Type of pool: Dynamic. 2) Loans originated by Swedbank and the independent savings banks under a specific cooperation agreement. 3) Public loans are guaranteed either by a Swedish municipality or the state and have therefore no LTV assigned to them. 4) As defined by the Association of Swedish Covered Bond Issuers ( 63

65 Cover pool data, cont. Geographical distribution - Sweden 100% 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec North 6.8% 6.8% 6.8% 6.8% 6.8% Norrbotten county (BD) 1.6% 1.6% 1.6% 1.6% 1.6% Västerbotten county (AC) 2.4% 2.4% 2.4% 2.5% 2.4% Västernorrland county (Y) 1.6% 1.6% 1.6% 1.5% 1.5% Jämtland county (Z) 1.2% 1.2% 1.2% 1.2% 1.2% Middle (including Stockholm) 44.7% 44.9% 45.1% 45.2% 45.4% Dalarna county (W) 2.4% 2.4% 2.4% 2.4% 2.4% Gävleborg county (X) 2.3% 2.3% 2.3% 2.3% 2.3% Värmland county (S) 2.3% 2.3% 2.3% 2.3% 2.3% Örebro county (T) 2.6% 2.6% 2.6% 2.6% 2.6% Västmanland county (U) 2.7% 2.7% 2.8% 2.8% 2.9% Uppsala county ( C) 4.1% 4.1% 4.1% 4.1% 4.1% Södermanland county (D) 2.7% 2.7% 2.7% 2.7% 2.7% Stockholm county (including Stockholm) (AB) 25.6% 25.7% 26.0% 25.9% 26.0% South (including Göteborg and Malmö) 48.5% 48.4% 48.1% 48.0% 47.9% Västra götaland county (Including Göteborg) (O) 16.9% 16.8% 16.7% 16.6% 16.6% Östergötland county (E) 4.1% 4.1% 4.0% 4.1% 4.0% Jönköping county (F) 3.7% 3.7% 3.7% 3.7% 3.7% Halland county (N) 3.5% 3.5% 3.4% 3.4% 3.4% Kronoberg county (G) 2.3% 2.3% 2.3% 2.3% 2.3% Kalmar county (H) 3.3% 3.3% 3.3% 3.3% 3.3% Skåne county (including Malmö) (M) 12.4% 12.4% 12.4% 12.4% 12.3% Blekinge county (K) 1.8% 1.8% 1.7% 1.7% 1.7% Gotland county (I) 0.6% 0.6% 0.6% 0.6% 0.6% 100.0% 100.0% 100.0% 100.0% 100.0% Interest rate fixing, floating/ fixed, current 1) Floating, reset in < 365 days 60% 62% 64% 64% 65% Fixed, reset period 1-2Y 17% 16% 16% 15% 14% Fixed, reset period 2-5Y 20% 19% 18% 18% 18% Fixed, reset period > 5Y 3% 3% 3% 3% 3% Repayment structure, on property level Amortising 46% 46% 47% 47% 48% Interest only 54% 54% 53% 53% 52% Seasoning structure <2005 Year of loan origination 14% 14% 13% 10% 11% 8% 8% 22% Collateral ranking 2) as % of total cover pool LTV distribution Total 0-10% 10-20% 20-30% 30-40% 40-50% 50-60% 60-70% 70-75% No prior ranks 96% 20.0% 18.1% 16.0% 13.7% 11.4% 9.1% 6.2% 1.6% Prior ranks 4% 0.4% 0.8% 0.8% 0.7% 0.6% 0.4% 0.2% 0.0% Total 100% 20.4% 18.9% 16.8% 14.4% 12.0% 9.5% 6.4% 1.6% Loans past due < 60 days Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 as % of the total cover pool 3) Total 0-60 days 0.13% 0.12% 0.14% 0.13% 0.11% 0.09% 0.14% 0.13% 0.12% of which 0-30 days 0.09% 0.09% 0.10% 0.13% 0.09% 0.08% 0.13% 0.13% 0.11% of which days 0.04% 0.03% 0.03% 0.00% 0.02% 0.01% 0.01% 0.00% 0.01% 1) Distribution by refixing period as percentage of total cover pool. 2) No prior ranks indicates that the loan will be repaid out of the collateral proceeds in the event of a forced sale, prior to any other claim secured by a contractual pledge over the same collateral being repaid. Prior ranks indicates that there are other claims secured by a contractual pledge over the same collateral which will be repaid prior to the loan. Please note that under Swedish law there are restrictions regarding expansion of prior ranks at the expense of claims with subsequent ranks. 3) Loans past due > 60 days are not eligible for the cover pool. 64