Swedbank Q Jan Lidén, President and CEO

Transcription

1 Swedbank Q Jan Lidén, President and CEO

2 2 Group results Q1 SEK M Q Q1 Change, % Net interest income 3,777 3,939 4 Net commissions 2,098 1, Net gains and losses on financial items at fair value Other income Total income 6,543 6,274 4 Staff costs 1,812 1,697 7 Profit-based staff costs Other expenses 1,546 1,453 6 Total expenses 3,650 3, Profit before loan losses 2,893 2,941 2 Loan losses Operating profit 2,843 2,842 0 Tax & minorities Profit for the period (attributable) 2,270 2,088 9

3 3 Net Interest Income items affecting comparability SEK M Changes Q1 2006, IFRS accrual of Baltic loan commissions -75 Accrual of Baltic loan book revaluation -96 Q1 (if restated) KIAB -39 EnterCard -71

4 4 Business area results Q1 Asset Swedish Baltic Swedbank Mgmt. & SEK M Banking Banking Markets Insurance Net interest income 2, Net commissions 1, Other income Total income 4,124 5% 1,359 32% % % Staff costs Other expenses 1, Total expenses 2,152 8% % % 153 2% Profit before loan losses 1, Loan losses Operating profit 1,978 2% % % % Allocated equity 26,621 7,654 3,619 1,670 Return on equity % Changes refer to comparison with Q1

5 5 Swedish Banking results Q1 SEK M Q Q1 Change, % Net interest income 2,752 3, Net commissions 1, Other income Total income 4,124 4,328 5 Staff costs 998 1,041 4 Other expenses 1,154 1, Total expenses 2,152 2,338 8 Profit before loan losses 1,972 1,990 1 Loan losses 6 60 Operating profit 1,978 1,930 2 Allocated equity 26,621 24,501 Return on equity % Total assets SEK bn

6 6 Swedish market shares Change in percentage points New selling, March, 2006 Q1 06 Market share Q1 05 Market share Change yoy Retail deposits 31% 23% +8% Asset Management 10% 18% -8% Individual Pension Savings* 54% 53% +1% Equity linked bonds 23% 25% -2% Corporate loans 19% 12% +7% Private mortgages 28% 23% +5% *As of December 31,

7 7 Swedish mortgage margin pressure * 7 bps ** 7 bps 0.60 Q1 Q2 Q3 Q4 Q * Spintab investment margins (See Spintab Q1 2006) ** Spintab new contractual margins (total front book)

8 8 Swedish volume growth (SEK billion) Growth yoy Lending to private individuals +10% Fund management +31% Deposits 5% Q1 Q2 Q3 Q4 Q1 2006

9 9 Baltic Banking (Operations) results Q1 SEK M Q Q1 Change, % Net interest income Net commissions Other income Total income 1,359 1, Staff costs Other expenses Total expenses Profit before loan losses Loan losses Operating profit Allocated equity 7,654 6,268 Return on equity % Total assets SEK bn

10 10 Baltic Banking growth Q1 Deposits Lending -22% Russia 38% 669 1,749 Lithuania 1,170 2,329 5, % 2,244 Baltic 49% 578 Latvia 44% 1,027 Estonia yoy % yoy change EUR in millions 264 1,683 1,507 2,973 6, % 4,046 Baltic 62% 1,037 Lithuania 99% 263 Russia 85% 1,286 Latvia 49% 1,450 Estonia yoy% yoy change EUR in millions 95 2,418 1,748 3,356 7, ,721 2,793 4,424 10,

11 11 Baltic market shares Stock March 2006 Estonia Market Change share yoy Latvia Market Change share yoy Lithuania Market Change share yoy Retail deposits 63%* -1% 29%* +4% 39% -1% Corporate deposits 51%* +1% 13%* +2% 22% +2% Lending 51% 0% 25% +1% 23% 0% Pension II 54%* +2% 36%* +5% 44% -1% * As of February, 2006

12 12 Baltic Banking margins 4.0% Lending 2.5% Deposits 3.5% 3.0% 2.5% 2.0% 1.5% 3.22% 3.15% 2.06% 2.81% 2.58% 1.96% 2.0% 1.5% 1.0% 1.53% 0.93% 1.74% 1.15% 1.11% 1.0% 0.5% 0.5% 0.84% 0.0% Q1 05 Q2 05 Q3 05 Q4 05 Q % Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Estonia Latvia Lithuania Estonia Latvia Lithuania

13 13 Baltic Banking profit growth Operating profit (SEK M) + 25% yoy Q Q Q Q Q Q Q Q Q Q Q Q Q1 Q2 Q3 Q4 Q1 2006

14 14 Profit growth in the four Baltic business units and in Swedish Banking Q1, 2006 vs. Q1,, SEK M Operating profit and profit growth yoy 28% 85% 35% -73% 12% 2, Estonia Latvia Lithuania Russia Swedish Banking incl Asset Management

15 15 Group net commissions SEK M Q Q1 Change, % Payment processing Lending commissions Brokerage Asset management Insurance commissions Other commissions Total commissions, net 2,098 1,530

16 16 Group net profit on financial items at fair value SEK M Q Q1 Change Financial instruments classified as trading and derivatives Prepayment fees, loans and receivables Exchange rates effects Total

17 17 Group expenses Change SEK M Q Q1 SEK M % Group 3,650 3, Staff costs 2,104 1, Adminstrative expenses 1,391 1, Depreciation/amortization Staff costs 2,104 1, Of which Baltic Banking First Securities

18 18 Baltic Banking expenses Expenses +39% yoy and staff costs +38% 180 Employees + 19% yoy (Cost/employee +16%) Q Q Q1 Q2 Q3 Q4 Q Q Q Q1 Q2 Q3 Q4 Q

19 Tier 1 ratio 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% - 0.2% points yoy 6.7% 6.5% target 19 Q1- Q2- Q3- Q4- Q

20 20 Key figures Q Q1 Return on equity, % Earnings per share, SEK Equity per share, SEK C/I ratio before loan losses Loan loss ratio, net % Share of doubtful claims, % Provision ratio for doubtful claims, % Capital adequacy ratio, % Primary capital ratio, %

21 21 Recent developments AGM decided change of name Mikael Inglander appointed CFO and Bengt- Erik Lindgren appointed Head of Stockholm Region, as of May 1, 2006 Office in Shanghai being upgraded to branch St Petersburg opened on March 24, 2006

22 22 Calendar of events 2006 Q2 August 10th Capital Markets Day September 6th (in Stockholm) Q3 October 26th

23 Thank you! 23