Facts Q3 2013 22 October, 2013
44B 4B 44B 4B 44B 4B Contents page page General information 2 Asset quality 47 Swedbank in brief 2-3 Asset quality 47-50 Macro economic indicators 4-5 Credit impairments 51 Financial information, Group 6 Impaired loans and provisions 52-53 Income statement, 5-year summary 6 Loans past due 54 Income statement, 9-quarter summary 7 Concentration risk 55 Balance sheet, 5-year summary 8 Capital adequacy 56 Balance sheet, 9 quarters, Equity and Goodwill 9 Exposure distribution for credit risk Basel 2 56 Statement of changes in equity and Intangible fixed assets 10 by business area and by segment 57 Net interest income analysis 11 Capital adequacy parameters for credit risk - business area 57 Income analysis 12 Capital adequacy parameters for credit risk - segment 58 Expense analysis 13 Capital adequacy 59 Variable pay 14 Change in RWA and Outstanding subordinated debt and leverage ratio 60 Business areas 15 ICAAP 2013 - Scenario based stress test 61-62 Retail 15-16 Liquidity & Funding 63 Large Corporates & Institutions 17-23 Liquidity reserve and additional Liquid Assets 63 Baltic Banking 24 Survival horizon 64 Baltic Banking 24-25 Liquidity ratios 65 Estonia 26 Debt securities in issue 66 Latvia 27 Maturity distribution, long-term funding 67 Lithuania 28 Outstanding benchmark bonds 68 Other 29 Outstanding short-term funding 69 Group Functions & Other 30-31 Maturity distribution, total balance sheet 70-71 Group Products 32 Asset encumbrance 72 Group Treasury 33 Cover pool data 73-75 Ektornet 34-35 Swedbank Mortgage AB, loan data 76 Other 36 Rating 77 Eliminations 37 Key figures 78-79 Product companies 38 Market shares 80 Swedbank Robur AB 38-39 Swedbank Group by geography 81 Swedbank Insurance 40 Employees 82 Baltic Life Insurance 41 Currency distribution and exchange rates 83 Baltic P&C Insurance 42 Sensitivity analysis 84 Business volumes 43 Shareholders and share data 85 Loans 43 Definitions 86 Deposits and amounts owed to credit institutions 44 Contacts and financial calendar 87 Derivatives and Deferred Tax Assets 45 Interest bearing Securities 46
Swedbank in brief General information 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 7.9 million private customers and 600 000 corporate and organisational customers. 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 Swedbank s management today, Swedbank will need a Common Equity Tier 1 ratio of around 15 per cent (Basel 3). Number of branches 489 Dividend: The dividend will correspond to 75 per cent of aftertax profit. Number of full-time employees Priorities 2013 14 264 Improve customer offering Invest in digital channels Purpose Improve advisory capacity and competence To promote a sustainable financial situation for the many Simplify and improve the product offering households and businesses. Values Increase decision-making close to our customers: Simple, Open, Caring Clarify and simplify the framework New organisation with more customer focus Long-term strategy Simpler to assess outcomes A profitable bank for the many: Our large customer base in our four home markets offers a unique potential. We want to help many customers, from those with basic needs to others with more advanced banking need in a way that creates customer value and profitability. With long-term relationships: Swedbank is convinced that the bank and customer benefit from a long-term relationship. We therefore try to build full-service relationships. By offering products and services through the right channels for our customer segments, we improve accessibility and long-term profitability. In Sweden, accessibility is being expanded through the cooperation with the savings banks and various franchises. Focus on productivity Continued cost focus Reduced number of products and improve process efficiency Risk-based pricing Capital and funding management: Improve understanding of risk and capital Improve the banks credit ratings Reduce relative funding costs Decision-making close to the customer within clearly defined frameworks: Clearly defined frameworks and monitoring systems for the Group allow decisions to be delegated close to the customer. Frameworks are designed for e.g. capital & liquidity, risks, monitoring and brand management. Development and production of the bank s products is done at the Group level. Satisfied customers require employees who take responsibility and are motivated which requires a good leadership in the bank. A low risk level: Stable profitability is essential for Swedbank. A low risk profile, with majority of lending in Sweden, makes it possible for us to maintain the lowest funding costs in its home markets. The risk level is kept low through high quality of lending, a sustainable balance between deposits and lending, a broad, diversified customer base and matching maturities in deposits and lending. Swedbank prioritises sustainable growth over higher market shares. Industry leading cost efficiency: To be competitive, Swedbank has to efficiently manage its capital and expenses. Capital efficiency is reached when employees understand what drives and affects risk-weighted assets and capital requirements. We want to create a corporate culture where everyone is cautious about expenses. The bank s general remuneration programme, Eken, will help to strengthen this cost consciousness. We will also continuously adapt our organisation to changes in the marketplace and capitalise on economies of scale in our home markets. 2
Swedbank in brief General information Sweden Population: 9.5m Private customers: 4.0m Corporate customers: 264 000 Organisations: 67 000 Branches: 306 ATMs: 0* Cards: 3.9m Employees: 8 075 * as of Q3 639 ATMs have migrated to Bankomat AB Latvia Population: 2.0m Private customers: 1.0m Corporate customers: 81 000 Branches: 54 ATMs: 422 Cards: 1.0m Employees: 1 640 Estonia Population: 1.3m Private customers: 1.0m Corporate customers: 122 000 Branches: 52 ATMs: 483 Cards: 1.1m Employees: 2 321 Lithuania Population: 3.0m Private customers: 2.0m Corporate customers: 88 000 Branches: 77 ATMs: 484 Cards: 1.8m Employees: 1 873 To support the business in Swedbank's four home markets, Swedbank is also established in neighbouring markets such as Norway, Finland and Denmark as well as certain other countries such as the US, China, Luxembourg and Spain. Swedbank is discontinuing operations in Russia and has finalised the divestment of the Ukrainian subsidiary in Q2 2013. Group operational structure 2013 The financial reporting is divided in four areas. The six Swedish regions and Channel & Concepts form Retail. Group products, and other group functions, constitute Group Functions & Other. Group executive committee Michael Wolf, President and CEO Anders Karlsson, Group Chief Risk Officer Mikael Björknert, Head of Channels & Concepts Birgitte Bonnesen, Head of Baltic Banking Göran Bronner, Chief Financial Officer Ulf Ejelöv, Head of Northern Region in Sweden Björn Elfstrand, Head of Stockholm Region in Sweden Mats Engstrand, CIO Jonas Erikson, Head of Group Treasury Catrin Fransson, Head of Group Products Lars Friberg, Head of Group Human Resources Magnus Gagner-Geeber, Head of Large Corporates & Institutions Stojko Gjurovski, Head of Southern Region in Sweden Marie Halling, Head of Eastern Region in Sweden Cecilia Hernqvist (Secretary), Head of Group Legal Lena Smeby-Udesen, Head of Western Region in Sweden Johan Smedman, Head of Central Region in Sweden 3
General information Macro economic indicators GDP growth Average inflation rate (consumer price growth) % 2014F 2013F 2012 2011 2010 2009 2008 2007 % 2014F 2013F 2012 2011 2010 2009 2008 2007 Sweden 3.2 1.6 1.1 3.7 6.6-5.0-0.6 3.3 Sweden 1.8 0.2 0.9 3.0 1.2-0.5 3.4 2.2 Estonia 3.9 1.9 3.2 8.3 2.9-13.9-5.1 6.9 Estonia 2.8 3.3 3.9 5.0 3.0-0.1 10.4 6.6 Latvia 4.7 4.3 5.6 5.5-0.3-17.7-4.2 10.0 Latvia 3.0 0.4 2.3 4.4-1.1 3.5 15.4 10.1 Lithuania 4.0 4.0 3.7 5.9-1.1-17.8 2.8 9.8 Lithuania 2.5 1.5 3.1 4.1 1.3 4.5 11.0 5.7 Current account balance, % of GDP General Government Financial Balance, % of GDP 2014F 2013F 2012 2011 2010 2009 2008 2007 2014F 2013F 2012 2011 2010 2009 2008 2007 Sweden 6.4 6.6 7.0 7.3 6.8 6.8 8.8 8.6 Sweden -1.1-1.2-0.6 0.0-0.1-0.7 2.2 3.6 Estonia -2.1-1.8-1.8 2.1 3.1 3.6-8.8-14.6 Estonia -0.1-0.5-0.3 1.2 0.3-2.0-2.9 2.4 Latvia -2.6-0.9-1.7-2.2 3.0 8.6-13.1-22.4 Latvia -0.9-1.5-1.2-3.4-8.1-9.7-4.2-0.4 Lithuania -2.0-0.8-0.5-3.7 1.5 4.4-12.9-14.4 Lithuania -1.7-2.7-3.2-5.5-7.2-9.5-3.3-1.0 General government debt, % of GDP 2014F 2013F 2012 2011 2010 2009 2008 2007 GDP per capita (PPP) 2012, USD Inhabitants (millions) GDP (2012, USDbn) Sweden 40.3 41.5 38.1 38.4 39.4 42.7 38.8 40.2 Sweden 35 134 9.5 419.6 Estonia 9.7 10.2 10.1 6.2 6.7 7.2 4.5 3.7 Estonia 18 722 1.3 15.7 Latvia 40.0 43.2 40.7 42.2 44.7 36.7 19.8 9.0 Latvia 15 737 2.0 17.0 Lithuania 38.6 39.5 40.7 38.5 38.0 29.4 15.5 16.8 Lithuania 18 800 3.0 30.1 Household debt, % of disposable income 1) Unemployment % 2012 2011 2010 2009 2008 2007 % 2014F 2013F 2012 2011 2010 2009 2008 2007 Sweden 173.3 165.0 164.0 157.0 151.0 147.0 Sweden 7.9 8.0 8.0 7.8 8.4 8.3 6.2 6.1 Estonia N/A 88.1 96.8 95.5 91.9 88.3 Estonia 8.4 8.9 10.2 12.5 16.9 13.8 5.5 4.7 Latvia N/A 66.1 75.1 74.9 70.8 81.2 Latvia 10.5 11.6 15.0 16.2 18.7 16.9 7.5 6.0 Lithuania N/A 41.2 43.1 45.9 44.9 44.1 Lithuania 9.5 11.5 13.2 15.3 17.8 13.7 5.8 4.3 1) Data for households and non-profit institutions serving households. Source: Swedbank Reasearch - Macro Research, Eurostat, the World Bank & the Riksbank Total market, net change in loans to the public by Country Sweden SEKbn Net change 2010 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2Jul-Aug Total loans 1) 8 99 40 32 167 48 100-9 59 66 36-12 76 37 20 Mortgage loans 38 47 34 39 22 33 27 27 20 27 23 29 23 32 18 Estonia EURm Net change Total loans 1) -227-281 -210-315 -299-51 -244-226 119 60 247 24 119-83 59 Mortgage loans -53-44 -31-43 -52-16 -23-32 -56-6 16-8 -31 13 13 Latvia EURm Net change 2) Total loans 1) -590-383 -397-603 -688-464 -163-464 -1 273-432 1-370 -163-617 na Mortgage loans -51-58 -96-107 -195-112 -121-141 -270-169 -104-115 -97 58 na Lithuania EURm Net change Total loans 1) -597-361 -414-377 -88-338 205-1 074-184 100-32 -660 385-190 -126 Mortgage loans -56-42 -120-49 100-128 -9-151 -61-30 -36-70 -29-7 -1 1) Excluding repurchase agreements. 2) June the latest. 4
Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 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 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 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 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Macro economic indicators General information Interest rates: Sweden & Eurozone, % Interest rates: Baltics & Eurozone, % 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 24 22 20 18 16 14 12 10 8 6 4 2 0 Repo rate (SWE) ECB Euro rate 90 days Euribor 90 days Stibor (SWE) 90 days Vilibor (Lithuania) 90 days Rigibor (Latvia) 90 days Euribor Real estate price development, Sweden 1) SEK 000 3 500 3 250 3 000 2 750 2 500 2 250 2 000 1 750 1 500 1 250 1 000 750 500 250 0 2005 2006 2007 2008 2009 2010 2011 2012 Q2-13 Sweden Gothenburg Stockholm Malmö Real estate price development, Baltics 2) EUR/m2 1 800 1 600 1 400 1 200 1 000 800 600 400 200 0 2006 2007 2008 2009 2010 2011 2012 Q3-13 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 500 000 450 000 400 000 350 000 300 000 250 000 200 000 150 000 100 000 50 000 General index and turnover, equities, NASDAQ OMX, Stockholm Index 450 400 350 300 250 200 150 0 100 Stockholm, SEKm turnover month OMX Stockholm PI (rs) 5
Income statement, 5-year summary Financial information, Group Income statement, Group YTD YTD FY FY FY FY FY SEKm 2013 2012 % 2012 1) 2011 2010 2009 2008 Net interest income 16 403 15 015 9 20 361 19 014 16 228 20 765 21 702 Net commission income 7 433 7 112 5 9 614 9 597 10 116 7 825 8 830 Net gains and losses on financial items, fair value 1 023 2 243-54 3 073 1 584 2 400 2 770 2 351 Net insurance 466 468 0 595 506 612 647 452 Share of the profit or loss of associates 643 644 0 798 767 624 866 512 Other income 1 318 1 349-2 1 827 2 577 1 554 1 909 2 616 Total income 27 286 26 831 2 36 268 34 045 31 534 34 782 36 463 Staff costs 6 407 6 393 0 8 500 9 522 9 052 9 184 9 142 Variable staff costs 670 581 15 738 395 340 17 950 Other expenses 4 569 4 801-5 6 470 7 471 7 790 7 758 6 994 Depreciation/amortisation 518 643-19 852 1 011 950 889 972 Total expenses 12 164 12 418-2 16 560 18 399 18 132 17 848 18 058 Profit before impairments 15 122 14 413 5 19 708 15 646 13 402 16 934 18 405 Impairment of intangible assets 170 3 20 1 960 37 1 305 1 403 Impairment on tangible assets 382 266 44 407 174 600 449 27 Credit impairments 92-109 -185-1 911 2 810 24 641 3 156 Operating profit 14 478 14 253 2 19 466 15 423 9 955-9 461 13 819 Tax expense 2 887 3 371-14 4 157 3 669 2 472 981 2 880 Profit for the period from continuing operations 11 591 10 882 7 15 309 11 754 7 483-10 442 10 939 Profit for the period from discontinued operations, after tax -2 292-823 -997 4 Profit for the period including non-controlling interest 9 299 10 059-8 14 312 11 758 7 483-10 442 10 939 Profit for the period attributable to: Shareholders of Swedbank AB 9 289 10 052-8 14 304 11 744 7 444-10 511 10 887 Non-controlling interests 10 7 43 8 14 39 69 52 Statement of Comprehensive Income YTD YTD FY FY FY FY FY SEKm 2013 2012 % 2012 2011 2010 2009 2008 Profit for the period reported via Income statement 9 299 10 059-8 14 312 11 758 7 483-10 442 10 939 Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans 2 582-1 444-1 653 Share related to associates 22-34 -43 Income tax -571 389 374 Total 2 033-1 089-1 322 Items that may be reclassified to the income statement Exchange differences on translating foreign operations: Gains/losses arising during the period 73-2 317-1 480-284 -4 218-1 852 3 468 Reclassification adjustments to Income statement, Net gains and losses on financial items, fair value or profit for the period from discontinued operation 1 875-1 Hedging of net investments in foreign operations: Gains/losses arising during the period 17 1 718-99 1 050 379 2 420 1 312-3 419 Cash flow hedges: Gains/losses arising during the period -98-498 -80-614 78 149-574 -1 423 Reclassification adjustments to Income statement, Net interest income 71 164-57 193 345 806 817 198 Net gains and losses on financial items, fair value 37 Share of other comprehensive income of associates -105-1 21-2 -30 42-45 Income tax relating to components of other comprehensive income 2-370 -74-210 -890-397 1 211 Total 1 835-1 305-904 306-1 763-615 -10 Other comprehensive income for the period, net of tax 3 868-2 394-2 226 306-1 763-615 -10 Total comprehensive income for the period 13 167 7 665 72 12 086 12 064 5 720-11 057 10 929 Total comprehensive income attributable to: Shareholders of Swedbank AB 13 157 7 658 72 12 078 12 050 5 693-11 138 10 885 Non-controlling interests 10 7 43 8 14 27 81 44 1) From 2012, trading related net interest income is reported as net gains and losses on financial items at fair value. For 2012, SEK 523m has been moved from net interest income to net gains and losses on financial items at fair value. As of 2012, the changes in reporting of benefit pension plans according according to IAS 19 have affected staff costs. For 2012, staff costs have increased by SEK 51m and tax expense by SEK 83m. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 6
22B 2B Income statement, 9-quarter summary Financial information, Group Income statement, Group Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 SEKm 2013 2013 2012 2012 2012 2012 2011 2011 Net interest income 5 641 232 5 409 5 353 5 346 5 085 5 035 4 895 4 967 4 832 Net commission income 2 520-5 2 525 2 388 2 502 2 375 2 339 2 398 2 291 2 438 Net gains/losses on financial items, fair value 170-126 296 557 830 687 577 979 559 259 Net insurance 129-15 144 193 127 147 163 158 134 97 Share of profit or loss of associates 240 43 197 206 154 225 210 209 155 217 Other income 525 117 408 385 478 452 464 433 550 468 Total income 9 225 246 8 979 9 082 9 437 8 971 8 788 9 072 8 656 8 311 Staff costs 2 115-44 2 159 2 133 2 107 2 045 2 147 2 201 2 604 2 336 Variable staff costs 213-19 232 225 157 184 189 208 47 73 Other expenses 1 488-79 1 567 1 514 1 669 1 490 1 616 1 695 2 019 1 755 Depreciation/amortisation 179 11 168 171 209 201 219 223 277 288 Total expenses 3 995-131 4 126 4 043 4 142 3 920 4 171 4 327 4 947 4 452 Profit before impairments 5 230 377 4 853 5 039 5 295 5 051 4 617 4 745 3 709 3 859 Impairment of intangible assets -170 170 17-1 4 1 960 Impairment of tangible assets 95-107 202 85 141 102 124 40 170-13 Credit Impairments -56-144 88 60-76 36-49 -96-174 -441 Operating profit 5 191 798 4 393 4 894 5 213 4 914 4 538 4 801 1 753 4 313 Tax expense 998 85 913 976 786 1 216 1 047 1 108 790 834 Profit for the period from continuing operations 4 193 713 3 480 3 918 4 427 3 698 3 491 3 693 963 3 479 Profit for the period from discontinued operations, after tax -15 1 872-1 887-390 -174-203 -341-279 4 Profit for the period including non-controlling interest 4 178 2 585 1 593 3 528 4 253 3 495 3 150 3 414 967 3 479 Profit for the period attributable to: Shareholders of Swedbank AB 4 172 2 580 1 592 3 525 4 252 3 495 3 147 3 410 966 3 475 Non-controlling interests 6 5 1 3 1 3 4 1 4 Statement of comprehensive income Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 SEKm 2013 2013 2012 2012 2012 2012 2011 2011 Profit for the period reported via Income statement 4 178 2 585 1 593 3 528 4 253 3 495 3 150 3 414 967 3 479 Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans 506-896 1 402 674-209 -984-831 371 Share related to associates 13-12 25-16 -9-21 -21 8 Income tax -114 198-312 -145-15 265 224-100 Total 405-710 1 115 513-233 -740-628 279 Items that may be reclassified to the income statement Exchange differences on translating foreign operations: Gains/losses arising during the period -669-2 758 2 089-1 347 837-1 700-344 -273-1 310 528 Reclassification adjustments to income statement, Net gains/losses on financial items at fair value or profit for the period from discontinued operation -1 875 1 875 1-1 Hedging of net investments in foreign operations: Gains/losses arising during the period 576 2 220-1 644 1 085-668 1 265 313 140 1 138-351 Cash flow hedges: Gains/losses arising during the period -32-6 -26-40 -116-37 -32-429 304 64 Reclassification adjustments to Income statement, Net interest income 24-1 25 22 29 43 48 73 77 79 Share of other comprehensive income of associates -43-34 -9-53 22-18 -1 18-18 -6 Income tax relating to components of other comprehensive income -123-484 361-236 296-339 -88 57-396 54 Total -267-2 938 2 671-569 401-786 -104-415 -205 368 Other comprehensive income for the period, net of tax 138-3 648 3 786-56 168-1 526-732 -136-205 368 Total comprehensive income for the period 4 316-1 063 5 379 3 472 4 421 1 969 2 418 3 278 762 3 847 Total comprehensive income attributable to: Shareholders of Swedbank AB 4 310-1 068 5 378 3 469 4 420 1 969 2 415 3 274 760 3 843 Non-controlling interests 6 5 1 3 1 3 4 2 4 As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 7
Balance sheet, 5-year summary Financial information, Group Balance sheet 30 Sep 30 Sep 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec SEKm 2013 2012 % 2012 2011 2010 2009 2008 Assets Cash and balances with central banks 132 001 212 761-38 130 058 164 307 17 109 37 879 29 060 Loans to credit institutions 75 743 95 615-21 85 480 97 195 166 417 92 131 128 536 Loans to the public 1 248 266 1 251 456 0 1 238 864 1 211 454 1 187 226 1 290 667 1 287 424 Bonds and other interest-bearing securities 152 609 136 804 12 135 807 138 311 131 576 170 615 133 694 Financial assets for which customers bear the investment risk 115 172 103 834 11 104 194 95 747 100 628 78 194 51 638 Derivatives 62 804 110 342-43 102 265 103 726 65 051 72 969 128 055 Other assets 45 454 54 163-16 50 192 46 325 47 674 52 232 53 283 Total assets 1 832 049 1 964 975-7 1 846 860 1 857 065 1 715 681 1 794 687 1 811 690 Liabilities and equity Amounts owed to credit institutions 119 358 129 060-8 122 202 139 598 136 766 231 687 316 730 Deposits and borrowings from the public 623 720 630 594-1 579 663 561 696 534 237 504 424 508 456 Debt securites in issue 743 984 825 838-10 767 454 781 458 686 517 703 258 593 365 Financial liabilities for which customers bear the investment risk 116 025 104 668 11 105 104 96 449 100 988 80 132 52 074 Derivatives 58 488 104 178-44 92 141 90 484 65 935 72 172 116 720 Other liabilites 54 647 58 932-7 62 803 69 716 69 016 75 057 93 128 Subordinated liabilities 9 996 12 980-23 14 307 19 531 27 187 37 983 44 755 Equity 105 831 98 725 7 103 186 98 133 95 035 89 974 86 462 Total liabilities and equity 1 832 049 1 964 975-7 1 846 860 1 857 065 1 715 681 1 794 687 1 811 690 As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 8
Balance sheet 9 quarters, Equity and Goodwill Financial information, Group Balance sheet 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep SEKm 2013 SEKm 2013 2013 2012 2012 2012 2012 2011 2011 Assets Cash and balances with central banks 132 001-67 878 199 879 210 251 130 058 212 761 132 028 169 795 164 307 93 072 Loans to credit institutions 75 743 2 643 73 100 86 932 85 480 95 615 94 083 98 373 97 195 200 798 Loans to the public 1 248 266 2 446 1 245 820 1 236 583 1 238 864 1 251 456 1 228 494 1 212 564 1 211 454 1 185 987 Interest-bearing securities 152 609 17 059 135 550 137 859 135 807 136 804 131 525 151 678 138 311 148 461 Value change of interest hedged item in portfolio hedge -200 34-234 16 Financial assets for which customers bear the investment risk 115 172 4 392 110 780 109 307 104 194 103 834 101 273 103 014 95 747 92 438 Shares and participating interests 6 782 2 182 4 600 6 552 8 106 4 879 1 684 8 400 2 015 1 927 Investments in associates 3 376 109 3 267 3 602 3 552 3 464 3 346 3 223 3 111 3 188 Derivatives 62 804-8 666 71 470 83 960 102 265 110 342 98 070 88 697 103 726 112 104 Intangible fixed assets 13 333-152 13 485 13 123 13 440 13 244 13 621 13 702 13 799 16 078 of which goodwill 11 501-119 11 620 11 176 11 452 11 276 11 622 11 695 11 762 14 043 Tangible assets 4 755-588 5 343 5 722 7 031 7 827 8 346 8 368 8 293 8 208 Current tax assets 1 322 693 629 580 1 082 1 559 1 447 1 401 2 083 2 068 Deferred tax assets 425-59 484 500 657 662 770 820 872 921 Other assets 6 586-1 733 8 319 7 904 8 380 13 525 11 207 19 046 7 531 12 477 Prepaid expenses and accrued income 7 075-667 7 742 8 391 7 736 8 799 7 877 9 153 8 371 8 180 Group of assets classified as held for sale 2 000-388 2 388 5 945 208 204 245 248 250 Total assets 1 832 049-50 573 1 882 622 1 917 227 1 846 860 1 964 975 1 834 016 1 888 482 1 857 065 1 885 907 Liabilities and equity Liabilities Amounts owed to credit institutions 119 358-4 644 124 002 137 198 122 202 129 060 128 657 130 000 139 598 129 363 Deposits and borrowings from the public 623 720-49 455 673 175 650 480 579 663 630 594 559 955 603 773 561 696 554 788 Debt securities in issue 743 984-2 268 746 252 779 751 767 454 825 838 786 460 784 607 781 458 819 230 Financial liabilities for which customers bear the investment risk 116 025 4 345 111 680 111 512 105 104 104 668 101 837 105 428 96 449 92 942 Derivatives 58 488-1 374 59 862 75 126 92 141 104 178 90 179 80 365 90 484 96 133 Current tax liabilities 1 148 513 635 885 1 378 1 339 1 176 1 357 472 713 Deferred tax liabilities 2 861 216 2 645 2 827 2 641 2 313 2 270 2 365 3 183 1 674 Short positions securities 15 276-373 15 649 14 763 18 229 13 463 17 272 22 398 30 603 30 666 Other liabilities 16 563-2 189 18 752 11 453 16 624 18 243 12 254 20 484 13 059 23 322 Accrued expenses and prepaid income 14 193 1 517 12 676 16 101 16 782 16 475 14 088 19 525 18 612 14 444 Provisions 4 381-550 4 931 6 268 7 073 7 022 6 167 5 340 3 690 4 157 Subordinated liabilities 9 996-589 10 585 13 827 14 307 12 980 17 023 18 659 19 531 21 129 Liabilities directly associated with group of assets classified as held for sale 225-150 375 1 149 76 77 95 96 97 Total liabilities 1 726 218-55 001 1 781 219 1 821 340 1 743 674 1 866 250 1 737 433 1 794 397 1 758 932 1 788 561 Equity Non-controlling interests 159 6 153 157 154 155 155 144 140 138 Equity attributable to shareholders of Swedbank AB 105 672 4 422 101 250 95 730 103 032 98 570 96 428 93 941 97 993 97 208 Total equity 105 831 4 428 101 403 95 887 103 186 98 725 96 583 94 085 98 133 97 346 Total liabilities and equity 1 832 049-50 573 1 882 622 1 917 227 1 846 860 1 964 975 1 834 016 1 888 482 1 857 065 1 885 907 Equity attributable to shareholders of Swedbank AB, 30 Sep 2013 Goodwill, 30 Sep 2013 SEKm SEKm Swedbank AB (Sweden) 60 418 Swedbank Robur 328 Swedbank Mortgage (Sweden) 35 299 Swedbank Försäkring 651 Swedbank Finans (Sweden) 4 956 Ölands Bank AB 9 Swedbank Robur (Sweden) 2 209 Swedbank (Estonia) 3 680 Swedbank Försäkring (Sweden) 2 925 Swedbank (Latvia) 1 896 Swedbank Luxembourg (Luxembourg) 55 Swedbank (Lithuania) 3 218 Sparia Försäkring (Sweden) 648 Group total 9 782 Swedbank (Estonia) 16 033 Goodwill within parent company: Swedbank (Latvia) 8 709 Swedbank AB (Sweden) 1 719 Swedbank (Lithuania) 8 014 Total goodwill 11 501 OAO Swedbank (Russia) 1 277 OOO Leasing (Russia) 267 First Securities (Norway) 20 Ektornet (Sweden) 488 Swedbank Babs Holding (Sweden 613 Other subsidiaries 1 642 Total legal equity 143 573 Group adjustments and eliminations -37 901 Total equity attributable to shareholders of Swedbank AB 105 672 As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 9
Statement of changes in equity and Intangible fixed assets Financial information, Group Statement of changes in equity SEKm Shareholders' equity Noncontrolling interest Total equity Share capital Exchange Other differences, contributed subsidiaries and equity associates Hedging of net investments in foreign operations Cash flow hedges Retained earnings Total Opening balance 1 January 2013 24 904 17 275-3 848 1 001-42 63 742 103 032 154 103 186 Dividends -10 880-10 880-5 -10 885 Share based payments to employees 363 363 363 Associates' aquisition of shares in Swedbank AB -14-14 -14 Associates' disposal of shares in Swedbank AB 14 14 14 Total comprehensive income for the period 1 841 13-19 11 322 13 157 10 13 167 Closing balance 30 September 2013 24 904 17 275-2 007 1 014-61 64 547 105 672 159 105 831 Specification of Exchange differences, subsidiaries and associates 30 Sep 31 Dec Q3 Q2 Q1 SEKm 2013 2012 2013 2013 2013 Russian Operations -442-312 -59-43 -28 Ukrainian Operations -1 854 1 874-20 Estonian Operations -508-646 -266 992-588 Latvian Operations -354-376 -151 520-347 Lithuanian Operations -405-489 -137 517-296 Norwegian Operations -139-22 -45-9 -63 Robur, Ektornet and other -159-149 -54 102-58 Total -2 007-3 848-712 3 953-1 400 Specification of Hedging of net investment in foreign operations 30 Sep 31 Dec Q3 Q2 Q1 SEKm 2013 2012 2013 2013 2013 Russian Operations 233 138 44 30 21 Estonian Operations 181 255 160-604 370 Latvian Operations 299 315 96-331 219 Lithuanian Operations 201 259 82-298 158 Norwegian Operations 79 9 31-1 40 Robur, Ektornet and other 21 25 36-78 38 Total 1 014 1 001 449-1 282 846 Specification of Cash flow hedges 30 Sep 31 Dec Q3 Q2 Q1 SEKm 2013 2012 2013 2013 2013 Group Treasury -59-38 -4-1 -16 Other -2-4 1 1 Total -61-42 -4 0-15 Intangible fixed assets, 30 Sep 2013 SEKm Indefinite useful life Definite useful life Goodwill Customer base Internally developed software Other Total Cost, opening balance, 1 January 2013 15 682 1 721 998 995 19 396 Additions through internal development 0 0 70 0 70 Additions through separate acquisitions 0 71 349 420 Sales and disposals -2 394-141 0-105 -2 640 Exchange rate differences 106 0 0 2 108 Cost,closing balance, 30 September 2013 13 394 1 651 1 068 1 241 17 354 Amortisation, opening balance 1 January 2013-743 -404-442 -1 589 Amortisation for the year -72-77 -75-224 Sales and disposals 57 123-271 -91 Exchange rate differences -4 0-1 -5 Amortisation, closing balance, 30 September 2013-762 -358-789 -1 909 Impairments, opening balance, 1 January 2013-4 230-102 -4-31 -4 367 Impairments for the year 0 0-170 0-170 Sales and disposals 2 394 90 0 0 2 484 Exchange rate differences -57-2 0 0-59 Impairments, closing balance, 30 September 2013-1 893-14 -174-31 -2 112 Carrying amount, 30 September 2013 11 501 875 536 421 13 333 10
Net interest income analysis, Group Financial information, Group Net interest income analysis, Group YTD YTD % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Interest income Loans to credit institutions 581 1 151-50 175 193 213 285 369 359 423 436 533 Loans to the public 31 244 36 320-14 10 369 10 377 10 498 11 255 11 859 12 057 12 404 12 743 12 277 Interest-bearing securities 1 542 2 292-33 516 504 522 541 722 823 747 916 879 Derivatives, income 167 263-37 -55 129 93-65 -78 85 256-6 97 Other 340 387-12 106 116 118 114 100 126 161 271 172 Total interest income 33 874 40 413-16 11 111 11 319 11 444 12 130 12 972 13 450 13 991 14 360 13 958 of which interest income reported in net gains/ losses on financial items at fair value 825 1 648-50 244 206 375 392 529 492 627 Interest income according to income statement 33 049 38 765-15 10 867 11 113 11 069 11 738 12 443 12 958 13 364 14 360 13 958 Interest expense Amounts owed to credit institutions -534-872 -39-181 -180-173 -236-276 -277-319 -345-330 Deposits and borrowings from the public -3 815-5 808-34 -1 207-1 278-1 330-1 571-1 886-1 889-2 033-2 197-2 053 of which deposits guarantee fees -416-408 2-129 -149-138 -146-139 -135-134 -131-127 Debt securities in issue -14 089-16 725-16 -4 438-4 813-4 838-5 016-5 489-5 547-5 689-5 965-5 898 of which state guarantee fees -109-306 -64-21 -39-49 -81-85 -88-133 -245-280 Subordinated liabilities -502-807 -38-126 -187-189 -192-254 -278-275 -341-294 Derivatives, expenses 1 965-243 619 626 720 487 305-130 -418-348 -400 Other -421-497 -15-147 -127-147 -179-160 -172-165 -197-151 of which stability fee -377-422 -11-131 -108-138 -147-134 -144-144 -159-133 Total interest expense -17 396-24 952-30 -5 480-5 959-5 957-6 707-7 760-8 293-8 899-9 393-9 126 of which interest expense reported in net gains/ losses on financial items at fair value -750-1 202-38 -254-255 -241-315 -402-370 -430 Interest expense according to income statement -16 646-23 750-30 -5 226-5 704-5 716-6 392-7 358-7 923-8 469-9 393-9 126 Net interest income 16 #REF! 403 15 #REF! 015 #REF! 9 #REF! 5 641 #REF! 5 409 5 353 5 346 5 085 5 035 4 895 4 967 4 832 Average balances Loans to credit institutions 83 693 107 218-22 78 859 83 654 86 728 95 499 104 827 102 786 109 439 189 569 210 498 Loans to the public 1 246 763 1 218 852 2 1 250 320 1 242 749 1 244 440 1 248 087 1 237 767 1 222 858 1 213 274 1 196 649 1 179 711 Interest-bearing securities 128 015 120 557 6 127 702 131 400 121 685 120 138 115 893 125 226 118 070 118 207 115 912 Interest-bearing assets 1 458 471 1 446 627 1 1 456 881 1 457 803 1 452 853 1 463 724 1 458 487 1 450 870 1 440 783 1 504 425 1 506 121 Derivatives 79 627 101 419-21 66 274 80 113 91 537 105 413 107 389 101 622 98 035 99 784 80 362 Other assets 350 252 300 361 17 339 773 368 107 349 892 327 863 329 738 293 263 316 661 255 293 202 221 Total assets 1 888 350 1 848 407 2 1 862 928 1 906 023 1 894 282 1 897 000 1 895 614 1 845 755 1 855 479 1 859 502 1 788 704 Amounts owed to credit institutions 133 648 134 681-1 126 568 138 108 134 745 128 808 129 620 135 942 132 250 134 784 135 212 Deposits and borrowings from the public 646 058 579 492 11 653 220 657 025 635 813 606 948 599 158 578 999 586 056 574 654 544 273 Debt securities in issue 769 134 780 241-1 759 640 774 016 770 678 797 194 807 728 778 155 783 419 799 257 782 722 Subordinated liabilities 12 581 18 588-32 10 405 13 126 14 025 13 995 15 801 18 014 19 180 20 151 20 941 Interest-bearing liabilities 1 561 421 1 513 002 3 1 549 833 1 582 275 1 555 261 1 546 945 1 552 307 1 511 110 1 520 905 1 528 846 1 483 148 Derivatives 71 119 89 515-21 58 671 70 000 82 874 96 484 102 377 89 641 87 102 87 496 74 220 Other liabilities 153 648 149 496 3 151 038 155 337 153 292 152 640 143 331 149 413 150 888 145 187 134 128 Total liabilities 1 786 188 1 752 013 2 1 759 542 1 807 612 1 791 427 1 796 069 1 798 015 1 750 164 1 758 895 1 761 529 1 691 496 Equity 102 162 96 394 6 103 386 98 411 102 855 100 931 97 599 95 591 96 584 97 973 97 208 Total liabilities and equity 1 888 350 1 848 407 2 1 862 928 1 906 023 1 894 282 1 897 000 1 895 614 1 845 755 1 855 479 1 859 502 1 788 704 Net interest income analysis, Group YTD YTD Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 % 2013 2012 2013 2013 2013 2012 2012 2012 2012 2011 2011 Average interest rates Loans to credit institutions 0.93 1.43-0.51 0.89 0.92 0.98 1.19 1.41 1.40 1.55 0.92 1.01 Loans to the public 3.34 3.97-0.63 3.32 3.34 3.37 3.61 3.83 3.94 4.09 4.26 4.16 Interest-bearing securities 1.61 2.53-0.93 1.62 1.53 1.72 1.80 2.49 2.63 2.53 3.10 3.03 Interest-bearing assets 3.05 3.66-0.61 3.04 3.04 3.09 3.30 3.55 3.65 3.77 3.75 3.64 Amounts owed to credit institutions 0.53 0.86-0.33 0.57 0.52 0.51 0.73 0.85 0.82 0.96 1.02 0.98 Deposits and borrowings from the public 0.79 1.34-0.55 0.74 0.78 0.84 1.04 1.26 1.31 1.39 1.53 1.51 Debt securities in issue 2.44 2.86-0.42 2.34 2.49 2.51 2.52 2.72 2.85 2.90 2.99 3.01 Subordinated liabilities 5.32 5.79-0.47 4.84 5.70 5.39 5.49 6.43 6.17 5.74 6.77 5.62 Interest-bearing liabilities 1.62 2.13-0.52 1.54 1.63 1.68 1.81 2.04 2.12 2.19 2.31 2.31 Net interest margin before trading interest are deducted 1.16 1.12 0.05 1.21 1.12 1.16 1.14 1.10 1.12 1.10 1.07 1.08 Net interest margin after trading interest are deducted 1.16 1.08 0.08 1.21 1.14 1.13 1.13 1.07 1.09 1.06 Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 11
Income analysis Financial information, Group Income analysis, Group YTD YTD % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Net interest income 1) 16 403 15 015 9 5 641 5 409 5 353 5 346 5 085 5 035 4 895 4 967 4 832 Payment processing 617 776-20 184 203 230 233 258 270 248 289 313 Card commissions 1 630 1 544 6 579 556 495 549 567 500 477 510 564 Service concepts 316 235 34 108 104 104 86 85 77 73 55 50 Asset management & Custody 3 003 2 747 9 1 031 1 010 962 968 913 909 925 899 916 Life insurance 218 243-10 74 74 70 72 80 79 84 87 73 Brokerage & Other securities 201 176 14 67 42 92 63 55 25 96 48 88 Corporate Finance 187 215-13 54 90 43 124 26 78 111-14 42 Lending and Guarantees 721 618 17 244 274 203 212 201 212 205 217 198 Deposits 46 56-18 14 15 17 5 19 18 19 6 25 Real estate brokerage 126 114 11 46 49 31 44 38 43 33 35 42 Non-Life insurance 62 47 32 17 17 28 15 15 15 17 25 21 Other commission income 306 341-10 102 91 113 131 118 113 110 134 106 Net commission income 7 433 7 112 5 2 520 2 525 2 388 2 502 2 375 2 339 2 398 2 291 2 438 Financial instruments held for trading 1 525 1 775-14 404 508 613 605 383 668 724 235 255 Financial instruments intended to hold until maturity -502 468-234 -212-56 225 304-91 255 324 4 Net gains and losses on financial items at fair value 1 023 2 243-54 170 296 557 830 687 577 979 559 259 Net insurance 466 468-0 129 144 193 127 147 163 158 134 97 Färs & Frosta Sparbank 61 62-2 18 12 31 19 23 21 18 20 20 Swedbank Sjuhärad 95 97-2 34 30 31 29 36 30 31 26 31 Other jointly owned banks in Sweden 44 36 22 17 11 16 15 11 10 15 12 13 BGC-Holding 6 3 100 2 3 1 3 2-1 2-6 -8 EnterCard Holding 419 411 2 158 135 126 89 141 142 128 84 135 Other companies 18 35-49 11 6 1-1 12 8 15 19 26 Share of the profit or loss of associates 643 644-0 240 197 206 154 225 210 209 155 217 IT/administrative services to savings banks 558 579-4 196 190 172 180 205 194 180 193 204 Assets taken over 450 481-7 172 140 138 159 154 165 162 199 143 Other 310 289 7 157 78 75 139 93 105 91 158 121 Other income 1 318 1 349-2 525 408 385 478 452 464 433 550 468 Total income 27 286 26 831 2 9 225 8 979 9 082 9 437 8 971 8 788 9 072 8 656 8 311 1) In Q4 2011, One-off revenue of SEK 206m related to commercial real estate loans taken over in relation to the bankruptcy estate of Lehman Brothers. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 12
Expense analysis Financial information, Group Expense analysis, Group YTD YTD % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Staff costs Salaries and other remunerations 4 064 4 127-2 1 342 1 360 1 362 1 339 1 314 1 391 1 422 1 756 1 523 Variable staff costs 1) 670 581 15 213 232 225 157 184 189 208 47 73 Pension costs 1) 812 762 7 273 271 268 275 260 243 259 212 281 Social insurance charges 1) 1 279 1 266 1 422 439 418 403 405 427 434 520 445 Training costs 75 75 0 22 31 22 39 14 33 28 41 21 Other staff costs 177 163 9 56 58 63 51 52 53 58 75 66 Total staff costs 2) 7 077 6 974 1 2 328 2 391 2 358 2 264 2 229 2 336 2 409 2 651 2 409 Other expenses Premises and rents 874 914-4 293 292 289 318 299 300 315 350 313 IT expenses 1 159 1 159 0 404 402 353 415 359 371 429 517 377 Telecommunications and postage 107 168-36 32 33 42 56 55 51 62 52 71 Advertising, PR and marketing 240 213 13 71 99 70 120 57 87 69 139 84 Consultants 178 187-5 49 79 50 62 51 63 73 112 101 Compensation to Savings Banks 500 458 9 168 162 170 165 147 159 152 138 121 Other purchased services 469 452 4 157 153 159 150 146 166 140 214 220 Security transport and alarm systems 186 295-37 45 60 81 93 95 101 99 107 108 Supplies 88 98-10 29 30 29 34 26 33 39 49 50 Travel 134 120 12 38 51 45 51 29 46 45 67 49 Entertainment 32 35-9 11 10 11 14 10 14 11 25 18 Repair/maintenance of inventories 118 111 6 47 35 36 29 34 37 40 37 28 Other expenses 484 591-18 144 161 179 162 182 188 221 212 215 Total other expenses 4 569 4 801-5 1 488 1 567 1 514 1 669 1 490 1 616 1 695 2 019 1 755 Depreciation/amortisation 518 643-19 179 168 171 209 201 219 223 277 288 Total expenses 12 164 12 418-2 3 995 4 126 4 043 4 142 3 920 4 171 4 327 4 947 4 452 IT-related expenses Q2, 2013 IT-related expenses 3) YTD YTD % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Expenses within internal IT-organisation (Group IT) Staff costs 662 679-2 219 219 225 240 209 229 241 IT expenses 683 688-1 228 233 222 224 213 215 260 of which software incl. licenses 330 341-3 107 115 108 117 117 107 117 of which IT-consultants 138 130 6 41 53 44 34 29 45 56 of which other bought IT-services 215 217-1 80 65 70 73 67 63 87 Leasing and depreciation of IT-equipment 99 115-14 32 32 35 32 35 41 39 Other expenses 335 394-15 112 118 105 125 120 144 130 Total expenses 1 779 1 876-5 591 602 587 621 577 629 670 Expenses outside internal IT-organisation (Group IT) IT expenses bought by business areas 476 471 1 176 169 131 191 146 156 169 Activated IT-related expenses 46 54-15 10 18 18 26 19 17 18 Total IT-related expenses 2 301 2 401-4 777 789 736 838 742 802 857 of which development cost 660 625 6 226 244 190 218 188 233 204 1) Social insurance charges and pension costs related to variable pay are presented as variable staff costs. 2) During Q4 2011 SEK 330m was expensed for staff restructurings in Sweden and the Baltic countries 3) IT-related staff costs outside the internal IT organisation are not included. As of 2013 Swedbank has decided to reclassify the Russian and Ukrainian Operations as discontinued operations. Income statements have been restated for 2012 but for balances and full time employees no restatements have been done. 13
Variable pay Allocations 1) SEKm Full-year 2013 Q3 2013 Programmes 2013 General programme Eken 2013 559 182 share part 459 social security charges 100 Individual programme 2013 351 101 of which cash 222 64 of which shares 129 38 share part 102 social security charges 27 Other 2013 79 25 Total allocations, 2013 989 309 Programmes 2012 General programme Eken 2012 727 share part 581 social security charges 146 Individual programme 2012 319 of which cash 199 of which shares 120 share part 93 social security charges 27 Other 2012 111 Total allocations, 2012 1 157 Programmes 2011 3) General programme Eken 2011 4) 581 share part 398 social security charges 183 Individual programme 2011 242 of which cash 147 of which shares 4) 95 share part 64 social security charges 31 Other 2011 92 Total allocations, 2011 915 Programmes 2010 3) Individual programme 2010 322 of which cash 166 of which shares 4) 156 share part 102 social security charges 54 Other 2010 109 Total allocations, 2010 431 % Cash vs. shares ~60% cash & 40% shares 100% cash ~60% cash & 40% shares 100% cash 100% shares ~60% cash & 40% shares 100% cash ~50% cash & 50% shares 100% cash Duration period for shares 2) 38 months for 50% of shares; 50 months for 50% of shares Financial information, Group Delivery date for shares 100% shares 50 months 2017 50 months 2017 100% shares 50 months 2016 50 months 2016 2014 for 50% of shares & 2015 for 50% shares 50 months 2015 50 months 2014 1) Full-year allocation is a total expense for a certain programme including social insurance charges. Any change in full-year allocations impacts quarterly allocations for the current year programmes. Historical allocations are shown during the entire duration period (see comment 2). Balance sheet currency rates are used for conversion of allocations while average YTD currency rates are used for conversion of variable pay expenses in the income statement. 2) Duration period is comprised of i) an initial performance year followed by ii) a deferral period prior to iii) the delivery date a year after the deferral period and publication of the year-end report. The share part is recognised in the income statement over the duration period. 3) Allocations for shares after the allotment (done in Q1 after the performance year) include social insurance charges based on the expected share price on the delivery date (assumed being equal to the current share price). 4) Forfeited performance rights are taken into account during the deferral period (not during the performance year). Income statement impact 2013 2012 SEKm Jan-Sep Jan-Sep Number of performance rights 5) General programme Eken 2013 99 Eken 2013, expected Individual programme 2013 188 Individual 2013, expected of which cash 167 Eken 2012, current of which shares 21 Individual 2012, current General programme Eken 2012 125 146 Eken 2011, current Individual programme 2012 20 176 Individual 2011, current of which cash 0 154 Individual 2010, current of which shares 20 22 Total General programme 2011 129 115 Individual programme 2011 20 23 Individual programme 2010 38 28 Other 51 93 Total 670 581 Equity-settled share based programmes Sep 2013 3 065 297 679 639 4 523 001 729 301 4 563 510 733 767 1 132 446 15 426 962 5) Number of performance rights in the table above gives full impact on dilution on delivery date and slightly differs from number of rights establishing the recognised share based expense. Current dilutive rights/future shares amount to 8 635 171 Recognised share based expense, including social insurance charges 6) FY 2010 FY 2011 FY 2012 2013 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 SEKm Jan-Sep expected expected expected expected expected TOTAL General programme Eken 2013 99 135 134 134 134 22 559 Individual programme 2013 21 31 31 31 31 5 129 General programme Eken 2012 182 125 173 172 171 29 727 Individual programme 2012 28 20 30 29 28 5 120 General programme Eken 2011 164 156 129 172 79 10 581 Individual programme 2011 20 23 20 26 23 3 95 Individual programme 2010 41 29 33 38 50 3 156 Total 41 213 422 452 617 471 377 199 27 2 367 6) Adjustments for actual outcome are usually included in share based expenses the year after the performance year (same applies for the cash part) 14
Retail Business areas YTD YTD Δ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKm 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Income statement Net interest income 10 172 10 138 0 3 473 3 367 3 332 3 353 3 405 3 362 3 371 3 202 3 105 Payment processing 126 279-55 -3 35 94 70 89 90 100 86 93 Card commission 777 736 6 274 248 255 261 265 240 231 252 287 Service concepts 316 235 34 108 104 104 86 85 77 73 55 50 Asset management 2 440 2 372 3 840 791 809 802 785 794 793 753 795 Life Insurance 226 245-8 75 72 79 74 79 79 87 86 88 Brokerage & Other securities 209 196 7 61 70 78 67 54 67 75 53 79 Lending and guarantees 206 147 40 73 86 47 52 60 41 46 59 55 Deposits 41 36 14 12 15 14 12 12 12 12 11 12 Corporate finance 1 2-50 1 1 1 Real estate brokerage 126 114 11 46 49 31 44 38 43 33 35 42 Non-Life insurance 53 48 10 18 19 16 17 16 16 16 14 13 Other commissions 154 191-19 46 47 61 69 48 72 71 95 55 Net commission income 4 675 4 601 2 1 550 1 536 1 589 1 554 1 532 1 531 1 538 1 499 1 569 Net gains and losses on financial items at fair value 95 124-23 28 33 34 37 39 41 44 49 42 Net insurance 243 242 0 53 66 124 65 82 80 80 41 16 Share of the profit or loss of associates 640 635 1 239 197 204 153 223 209 203 158 217 Other income 355 371-4 148 113 94 93 132 129 110 128 121 Total income 16 180 16 111 0 5 491 5 312 5 377 5 255 5 413 5 352 5 346 5 077 5 070 Staff costs 2 611 2 555 2 874 866 871 844 830 852 873 925 874 Variable staff costs 163 119 37 48 68 47 20 43 42 34 16 26 Expenses for premises 362 366-1 129 119 114 148 128 117 121 124 115 IT expenses 371 275 35 125 136 110 114 81 77 117 127 93 Consultants 41 44-7 12 18 11 8 15 15 14 18 20 Other expenses 3 556 3 865-8 1 172 1 161 1 223 1 309 1 351 1 276 1 238 1 380 1 185 of which internally sold and bought services 2 472 2 762-10 840 797 835 915 1 006 881 875 992 838 Depreciation/amortisation 89 93-4 29 30 30 31 29 32 32 33 33 Total expenses 7 193 7 317-2 2 389 2 398 2 406 2 474 2 477 2 411 2 429 2 623 2 346 Profit before impairments 8 987 8 794 2 3 102 2 914 2 971 2 781 2 936 2 941 2 917 2 454 2 724 Impairment of intangible assets Impairment of tangible assets Credit impairments 198 195 2 106 37 55 91 72 102 21 220 69 Operating profit 8 789 8 599 2 2 996 2 877 2 916 2 690 2 864 2 839 2 896 2 234 2 655 Tax expense 1 899 2 236-15 678 586 635 458 759 733 744 504 712 Profit for the period from continuing operations 6 890 6 363 8 2 318 2 291 2 281 2 232 2 105 2 106 2 152 1 730 1 943 Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest 6 890 6 363 8 2 318 2 291 2 281 2 232 2 105 2 106 2 152 1 730 1 943 Profit for the period attributable to: Shareholders of Swedbank AB 6 881 6 353 8 2 312 2 290 2 279 2 232 2 102 2 103 2 148 1 728 1 939 Non-controlling interests 9 10-10 6 1 2 3 3 4 2 4 15
Retail Business areas YTD YTD Δ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 SEKbn 2013 2012 Y/Y 2013 2013 2013 2012 2012 2012 2012 2011 2011 Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks 1 1 1 2 1 1 1 Loans to credit institutions 37 29 28 37 30 40 33 29 29 33 32 31 Loans to the public 925 909 2 925 919 915 912 909 902 896 888 881 Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk 113 102 11 113 109 107 102 102 99 101 94 90 Derivatives Other assets 13 14-7 13 12 13 14 14 15 13 14 13 Total assets 1 088 1 055 3 1 088 1 070 1 075 1 062 1 055 1 047 1 044 1 029 1 016 Liabilities and equity Amounts owed to credit institutions 77 69 12 77 74 80 73 69 71 69 75 74 Deposits and borrowings from the public 378 371 2 378 378 371 377 371 367 359 365 352 Debt securities in issue Financial liabilities for which customers bear inv. risk 114 103 11 114 110 110 103 103 100 103 94 91 Derivatives Other liabilities 487 480 1 487 475 481 478 480 476 482 460 465 Subordinated liabilities 10 9 Allocated equity 32 32 0 32 33 33 31 32 33 31 25 25 Total liabilities and equity 1 088 1 055 3 1 088 1 070 1 075 1 062 1 055 1 047 1 044 1 029 1 016 Key figures Key performance indicators Return on allocated equity, % 28.0 26.8 28.1 28.1 27.9 28.0 25.5 26.3 28.4 27.4 30.7 Cost/Income ratio 0.44 0.45 0.44 0.45 0.45 0.47 0.46 0.45 0.45 0.52 0.46 Common Equity Tier 1 capital ratio, Basel 2, % 14.6 13.7 14.6 14.1 14.5 13.7 13.7 13.9 12.8 11.4 11.3 Credit impairment ratio, % 0.03 0.03 0.05 0.02 0.02 0.04 0.03 0.04 0.01 0.10 0.03 Loan/Deposit ratio, % 244 245 244 243 246 242 245 246 250 243 250 Volumes, SEKbn Loans to the public excluding repos & SNDO 1) 925 909 2 925 919 915 912 909 902 896 889 882 Deposits from the public excluding repos & SNDO 1) 378 371 2 378 378 371 377 371 367 359 365 352 Mutual funds & insurance 479 412 16 479 463 459 431 412 402 412 390 365 Index linked bonds 11 16-31 11 12 13 14 16 16 16 16 16 Allocated equity, average, SEKm 32 758 31 611 4 32 938 32 586 32 646 31 868 32 927 31 937 30 298 25 272 25 250 Common Equity Tier 1 capital, period end 29.1 29.1 0 29.1 28.3 29.4 27.7 29.1 29.9 28.2 24.3 24.3 Risk-weighted assets, Basel 2 200 212-6 200 201 204 202 212 214 221 213 215 Commitments 103 107-4 103 110 99 101 107 107 103 106 107 Full-time employees 4 969 4 896 1 4 969 4 921 4 872 4 922 4 896 4 971 5 068 5 160 5 170 1) Excluding intra-group transactions. Other information (millions) Number of Internet bank customers (incl. savings banks) 3.5 3.4 3 3.5 3.4 3.5 3.5 3.4 3.4 3.4 3.3 3.3 Number of internet bank payments (incl. savings banks) 148.9 143.2 4 55.1 44.3 49.5 50.8 46.1 50.3 46.8 42.9 44.6 Number of Mobile bank customers (incl. savings banks) 1.5 1.1 37 1.5 1.3 1.3 1.2 1.1 0.9 0.8 0.7 0.5 Number of logins in Internetbank 204.1 207.3-2 63.9 71.5 68.7 69.4 66.0 70.4 71.0 70.2 67.2 Number of logins in Mobile Bank 234.7 150.7 56 88.7 80.6 65.4 59.2 58.3 50.8 41.7 29.4 22.7 Number of cards 3.9 3.8 1 3.9 3.9 3.8 3.8 3.8 3.8 3.8 3.8 3.8 Number of card purchases 664.1 593.8 12 238.9 227.6 197.6 214.4 208.5 202.2 183.2 195.0 192.5 POS/total card turnover, % 2) 74.6 71.7 74.5 74.8 74.5 73.6 71.8 71.6 71.6 70.7 69.2 Number of card acquiring, Nordic Countries 1 108.3 994.3 11 390.4 381.1 336.9 354.7 349.5 338.8 305.8 322.0 315.2 Total acquired amount, Nordic Countries, SEKm 294 795 269 965 9 104 587 102 725 87 483 97 495 95 328 93 634 81 004 90 822 88 878 2) Point of Sale (POS). 16