Facts Q4 2012 30 January, 2013
44B 4B 44B 4B 44B 4B Contents page page General information 2 Asset quality 43 Swedbank in brief 2-3 Asset quality 43-45 Macro economic indicators 4-5 Credit impairments 46 Financial information, Group 6 Impaired loans 47-48 Income statement, 5-year summary 6 Loans past due 49 Income statement, 9-quarter summary 7 Concentration risk 50 Balance sheet, 5-year summary 8 Capital adequacy 51 Balance sheet, 9 quarters, Equity and Goodwill 9 Credit risk, EAD distribution by business area and segment 51 Net interest income analysis 10 Capital adequacy parameters for credit risk - business area 52 Income analysis 11 Capital adequacy parameters for credit risk - segment 53 Expense analysis 12 Capital adequacy 54 Variable pay 13 Outstanding subordinated debt and leverage ratio 55 Business areas 14 ICAAP 2012 - Scenario based stress test 56-57 Retail 14-15 Liquidity & Funding 58 Large Corporates & Institutions 16-17 Liquidity reserve and additional Liquid Assets 58 Baltic Banking 18 Survival horizon 59 Baltic Banking 18-19 Liquidity ratios 60 Estonia 20 Debt securities in issue 61 Latvia 21 Maturity distribution, long-term funding 62 Lithuania 22 Outstanding benchmark bonds 63 Other 23 Outstanding short-term funding 64 Asset Management 24-25 Maturity distribution, total balance sheet 65-66 Group Functions & Other 26-27 Asset encumbrance 67 Group Business Support 28 Cover pool data 68-70 Group Treasury 29 Swedbank Mortgage AB, loan data 71 Russian Banking 30 Rating 72 Ukrainian Banking 31 Key figures 73 Ektornet 32-33 Market shares 74 Other 34 Employees 75 Eliminations 35 Currency distribution and exchange rates 76 Swedbank Insurance 36 Sensitivity analysis 77 Baltic Life Insurance 37 Shareholders and share data 78 Baltic P&C Insurance 38 Definitions 79 Business volumes 39 Contacts and financial calendar 80 Loans 39 Deposits and amounts owed to credit institutions 40 Derivatives and Deferred Tax Assets 41 Interest bearing Securities 42
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 7.8 million private customers and 600 000 corporate and organisational customers. Number of branches Over 500 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 core Tier 1 capital ratio of 13 to 15 per cent (Basel 3 incl IAS19- effects). Dividend: The dividend will correspond to 75 per cent of after-tax profit. Number of full-time employees Priorities 2013 14 861 Improve customer offering Purpose To promote a sustainable financial situation for the many households and businesses. Values Simple, Open, Caring Long-term strategy 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 an 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. Invest in digital channels Improve advisory capacity and competence Simplify and improve the product offering Increase decision-making close to our customers: Clarify and simplify the framework New organisation with more customer focus Simpler to assess outcomes 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 a which requires 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: 266 000 Organisations: 67 000 Branches: 310 ATMs: 635 Cards: 3.8m Employees: 7 981 Latvia Population: 2.2m Private customers: 0.9m Corporate customers: 82 000 Branches: 54 ATMs: 412 Cards: 1.0m Employees: 1 740 Estonia Population: 1.3m Private customers: 1.0m Corporate customers: 116 000 Branches: 58 ATMs: 502 Cards: 1.1m Employees: 2 438 Lithuania Population: 3.2m Private customers: 1.9m Corporate customers: 84 000 Branches: 82 ATMs: 502 Cards: 1.9m Employees: 1 956 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 2012 Swedbank is organised in four major business areas, supported by Group Functions. Board of Directors Internal Audit President and CEO Retail Large Corporates & Institutions Baltic Banking Asset Management Group Functions & Other Group executive committee Michael Wolf, President and CEO Thomas Backteman, Head of Corporate Affairs Håkan Berg, Group 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 Lars Friberg, Head of Group Human Resources Cecilia Hernqvist (Secretary), Head of Group Legal Helena Nelson (adjunct), Head of Group Compliance 3
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 Nov-12 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 Nov-12 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 Nov-12 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 Nov-12 Macro economic indicators General information GDP growth Average inflation rate (consumer price growth) % 2014F 2013F 2012F 2011 2010 2009 2008 2007 % 2014F 2013F 2012F 2011 2010 2009 2008 2007 Sweden 2.6 1.1 1.1 3.8 6.6-5.0-0.6 3.3 Sweden 1.9 0.3 3.0 3.0 1.2-0.5 3.4 2.2 Estonia 4.5 3.1 3.0 8.3 2.9-13.9-5.1 6.9 Estonia 2.7 3.2 5.0 5.0 3.0-0.1 10.4 6.6 Latvia 5.0 4.1 5.4 5.5-0.3-17.7-4.2 10.0 Latvia 3.5 1.9 4.4 4.4-1.1 3.5 15.4 10.1 Lithuania 4.0 4.0 3.3 5.9-1.1-17.8 2.8 9.8 Lithuania 3.4 3.3 4.1 4.1 1.3 4.5 11.0 5.7 Current account balance, % of GDP General Government Financial Balance, % of GDP 2014F 2013F 2012F 2011 2010 2009 2008 2007 2014F 2013F 2012F 2011 2010 2009 2008 2007 Sweden 6.3 6.5 6.8 7.3 6.8 6.8 8.8 8.6 Sweden -1.2-1.1 0.2 0.2-0.1-0.7 2.2 3.6 Estonia -3.2-3.9-2.1 2.1 3.1 3.6-8.8-14.6 Estonia -0.2-0.5 1.1 1.1 0.3-2.0-2.9 2.4 Latvia -3.4-2.4-2.0-2.4 3.0 8.6-13.1-22.4 Latvia -0.2-0.7-3.5-3.5-8.1-9.7-4.2-0.4 Lithuania -1.4-0.8-1.0-3.7 1.5 4.4-12.9-14.4 Lithuania -2.0-2.5-5.5-5.5-7.2-9.5-3.3-1.0 General government debt, % of GDP 2014F 2013F 2012F 2011 2010 2009 2008 2007 GDP per capita (PPP) 2011, USD Inhabitants (millions) GDP (2011, USDbn) Sweden 38.3 38.6 37.9 38.3 39.4 42.7 38.8 40.2 Sweden 41 482 9.5 539.7 Estonia 11.6 12.0 10.1 6.1 6.7 7.2 4.5 3.7 Estonia 21 995 1.3 22.2 Latvia 34.9 38.8 42.0 42.2 44.7 36.7 19.8 9.0 Latvia 17 569 2.0 28.3 Lithuania 36.7 38.4 40.9 38.5 38.0 29.4 15.5 16.8 Lithuania 20 322 3.0 42.7 Unemployment % 2014F 2013F 2012F 2011 2010 2009 2008 2007 Sweden 8.2 8.3 7.7 7.5 8.4 8.3 6.2 6.1 Estonia 9.4 10.0 10.3 12.5 16.9 13.8 5.5 4.7 Latvia 11.6 13.6 15.0 16.2 18.7 16.9 7.5 6.0 Lithuania 10.0 11.5 13.2 15.3 17.8 13.7 5.8 4.3 Source: Swedbank Economic Research Department Total market, loans to the public by Country SEKbn 6 000 Sweden EURbn 30 Estonia 5 000 25 4 000 20 3 000 15 2 000 10 1 000 5 0 0 Total loans 1) Mortgage loans Total loans 1) Mortgage loans EURbn Latvia EURbn Lithuania 30 30 25 25 20 20 15 15 10 10 5 5 0 0 Total loans 1) Mortgage loans (Sep. the latest) Total loans 1) Mortgage loans 1) Excluding repurchase agreements 4
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 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 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 Macro economic indicators General information Interest rates: Sweden & 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 Interest rates: Baltics & Eurozone, % 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 Q3-12 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 Q4-12 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
00B 0B Income statement, 5-year summary Financial information, Group Income statement, Group FY FY FY FY FY FY SEKm 2012 % 2011 2010 1) 2009 2008 2007 Net interest income 1) 21 188 11 19 014 16 228 20 765 21 702 19 157 Net commission income 1) 9 636 0 9 597 10 116 7 825 8 830 9 880 Net gains and losses on financial items, fair value 2 534 60 1 584 2 400 2 770 2 351 1 691 Net insurance 595 18 506 612 647 452 548 Share of the profit or loss of associates 797 4 767 624 866 512 424 Other income 1 870-27 2 577 1 554 1 909 2 616 1 224 Total income 36 620 8 34 045 31 534 34 782 36 463 32 924 Staff costs 8 675-9 9 522 9 052 9 184 9 142 8 134 Variable staff costs 738 87 395 340 17 950 1 658 Other expenses 1) 6 654-11 7 471 7 790 7 758 6 994 6 222 Depreciation/amortisation 882-13 1 011 950 889 972 705 Total expenses 16 949-8 18 399 18 132 17 848 18 058 16 719 Profit before impairments 19 671 26 15 646 13 402 16 934 18 405 16 205 Impairment of intangible assets 20-99 1 960 37 1 305 1 403 Impairment on tangible assets 466 174 600 449 27 Credit impairments 687-1 911 2 810 24 641 3 156 619 Operating profit 18 498 20 15 423 9 955-9 461 13 819 15 586 Tax expense 4 039 10 3 669 2 472 981 2 880 3 450 Profit for the period from continuing operations 14 459 23 11 754 7 483-10 442 10 939 12 136 Profit for the period from discontinued operations, after tax -13 4 Profit for the period including non-controlling interest 14 446 23 11 758 7 483-10 442 10 939 12 136 Profit for the period attributable to: Shareholders of Swedbank AB 14 438 23 11 744 7 444-10 511 10 887 11 996 Non-controlling interests 8-43 14 39 69 52 140 Statement of Comprehensive Income FY FY FY FY FY SEKm 2012 % 2011 2010 2009 2008 Profit for the period reported via Income statement 14 446 23 11 758 7 483-10 442 10 939 Exchange differences on translating foreign operations: Gains/losses arising during the period -1 480-284 -4 218-1 852 3 468 Net gains and losses on financial items, fair value Hedging of net investments in foreign operations: Gains/losses arising during the period 1 050 379 2 420 1 312-3 419 Cash flow hedges: Gains/losses arising during the period -614 78 149-574 -1 423 Reclassification adjustments to Income statement, Net interest income 193-44 345 806 817 198 Net gains and losses on financial items, fair value 37 Share of other comprehensive income of associates 21-2 -30 42-45 Income tax relating to components of other comprehensive income -74-65 -210-890 -397 1 211 Other comprehensive income for the period, net of tax -904 306-1 763-615 -10 Total comprehensive income for the period 13 542 12 12 064 5 720-11 057 10 929 Total comprehensive income attributable to: Shareholders of Swedbank AB 13 534 12 12 049 5 693-11 138 10 885 Non-controlling interests 8-47 15 27 81 44 1) As from 2010, compensation to Savings Banks is reported as interest expense (the part for handling a new mortgage loan) and as other expenses. For 2010 SEK 101m is reported as interest expense and SEK 490m as other expenses, and for 2011 SEK 104m is reported as interest expense and SEK 530m as other expenses. For the period 2007-2009, all compensation is reported as commission expense. 6
22B 2B Income statement, 9-quarter summary Financial information, Group Income statement, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 SEKm 2012 2012 2012 2011 2011 2011 2011 2010 Net interest income 5 465 202 5 263 5 252 5 208 4 967 4 832 4 714 4 501 4 503 Net commission income 2 504 123 2 381 2 346 2 405 2 291 2 438 2 412 2 456 2 699 Net gains/losses on financial items, fair value 752 184 568 455 759 559 259 511 255 357 Net insurance 127-20 147 163 158 134 97 161 114 147 Share of profit or loss of associates 156-68 224 209 208 155 217 224 171 127 Other income 487 19 468 472 443 550 468 475 1 084 262 Total income 9 491 440 9 051 8 897 9 181 8 656 8 311 8 497 8 581 8 095 Staff costs 2 198 130 2 068 2 177 2 232 2 604 2 336 2 261 2 321 2 213 Variable staff costs 157-27 184 189 208 47 73 129 146 101 Other expenses 1 712 173 1 539 1 660 1 743 2 019 1 755 1 875 1 822 2 127 Depreciation/amortisation 220 13 207 225 230 277 288 222 224 286 Total expenses 4 287 289 3 998 4 251 4 413 4 947 4 452 4 487 4 513 4 727 Profit before impairments 5 204 151 5 053 4 646 4 768 3 709 3 859 4 010 4 068 3 368 Impairment of intangible assets 17 18-1 4 1 960 Impairment of tangible assets 199 97 102 125 40 170-13 15 2 406 Credit Impairments 11-193 204 300 172-174 -441-324 -972-483 Operating profit 4 977 229 4 748 4 217 4 556 1 753 4 313 4 319 5 038 3 445 Tax expense 640-580 1 220 1 052 1 127 790 834 863 1 182 693 Profit for the period from continuing operations 4 337 809 3 528 3 165 3 429 963 3 479 3 456 3 856 2 752 Profit for the period from discontinued operations, after tax 4 21-17 4 Profit for the period including non-controlling interest 4 341 830 3 511 3 165 3 429 967 3 479 3 456 3 856 2 752 Profit for the period attributable to: Shareholders of Swedbank AB 4 340 829 3 511 3 162 3 425 965 3 475 3 452 3 852 2 750 Non-controlling interests 1 1 3 4 2 4 4 4 2 Statement of comprehensive income Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 SEKm 2012 2012 2012 2011 2011 2011 2011 2010 Profit for the period reported via Income statement 4 341 830 3 511 3 165 3 429 967 3 479 3 456 3 856 2 752 Exchange differences on translating foreign operations: Gains/losses arising during the period 837 2 537-1 700-344 -273-1 310 528 692-194 -549 Reclassification adjustments to income statement, Net gains/losses on financial items at fair value 1 1-1 Hedging of net investments in foreign operations: Gains/losses arising during the period -668-1 933 1 265 313 140 1 138-351 -479 71 317 Cash flow hedges: Gains/losses arising during the period -116-79 -37-32 -429 304 64-26 -264-71 Reclassification adjustments to Income statement, Net interest income 29-14 43 48 73 77 79 88 101 194 Share of other comprehensive income of associates 22 40-18 -1 18-18 -6 25-3 8 Income tax relating to components of other comprehensive income 296 635-339 -88 57-396 54 108 24-117 Other comprehensive income for the period, net of tax 401 1 187-786 -104-415 -205 368 408-265 -218 Total comprehensive income for the period 4 742 2 017 2 725 3 061 3 014 762 3 847 3 864 3 591 2 534 Total comprehensive income attributable to: Shareholders of Swedbank AB 4 741 2 016 2 725 3 058 3 010 759 3 844 3 859 3 587 2 533 Non-controlling interests 1 1 3 4 3 3 5 4 1 7
11B 1B Balance sheet, 5-year summary Financial information, Group Balance sheet 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec SEKm 2012 % 2011 2010 2009 2008 2007 Assets Cash and balances with central banks 130 058-21 164 307 17 109 37 879 29 060 21 200 Loans to credit institutions 85 480-12 97 195 166 417 92 131 128 536 174 014 Loans to the public 1 238 864 2 1 211 454 1 187 226 1 290 667 1 287 424 1 135 287 Bonds and other interest-bearing securities 135 807-2 138 311 131 576 170 615 133 694 115 492 Financial assets for which customers bear the investment risk 104 194 9 95 747 100 628 78 194 51 638 69 324 Derivatives 102 265-1 103 726 65 051 72 969 128 055 36 984 Other assets 50 273 9 46 325 47 674 52 232 53 283 55 683 Total assets 1 846 941-1 1 857 065 1 715 681 1 794 687 1 811 690 1 607 984 Liabilities and equity Amounts owed to credit institutions 122 202-12 139 598 136 766 231 687 316 730 163 785 Deposits and borrowings from the public 579 663 3 561 696 534 237 504 424 508 456 458 375 Debt securites in issue 767 454-2 781 458 686 517 703 258 593 365 673 116 Financial liabilities for which customers bear the investment risk 105 104 9 96 449 100 988 80 132 52 074 69 819 Derivatives 92 141 2 90 484 65 935 72 172 116 720 36 267 Other liabilites 59 846-14 69 716 69 016 75 057 93 128 98 563 Subordinated liabilities 14 307-27 19 531 27 187 37 983 44 755 39 736 Equity 106 224 8 98 133 95 035 89 974 86 462 68 323 Total liabilities and equity 1 846 941-1 1 857 065 1 715 681 1 794 687 1 811 690 1 607 984 8
11B 1B Balance sheet 9 quarters, Equity and Goodwill Financial information, Group Balance sheet 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec SEKm 2012 SEKm 2012 2012 2012 2011 2011 2011 2011 2010 Assets Cash and balances with central banks 130 058-82 703 212 761 132 028 169 795 164 307 93 072 11 954 11 297 17 109 Loans to credit institutions 85 480-10 135 95 615 94 083 98 373 97 195 200 798 202 527 198 682 166 417 Loans to the public 1 238 864-12 592 1 251 456 1 228 494 1 212 564 1 211 454 1 185 987 1 174 938 1 173 981 1 187 226 Interest-bearing securities 135 807-997 136 804 131 525 151 678 138 311 148 461 148 436 149 628 131 576 Financial assets for which customers bear the investment risk 104 194 360 103 834 101 273 103 014 95 747 92 438 104 255 102 071 100 628 Shares and participating interests 8 106 3 227 4 879 1 684 8 400 2 015 1 927 2 878 4 457 6 181 Investments in associates 3 633 101 3 532 3 400 3 261 3 111 3 188 3 019 2 835 2 710 Derivatives 102 265-8 077 110 342 98 070 88 697 103 726 112 104 60 371 60 558 65 051 Intangible fixed assets 13 440 196 13 244 13 621 13 702 13 799 16 078 15 980 15 707 15 794 of which goodwill 11 452 176 11 276 11 622 11 695 11 762 14 043 13 933 13 680 13 733 Tangible assets 7 031-796 7 827 8 346 8 368 8 293 8 208 6 739 5 915 5 679 Current tax assets 1 082-477 1 559 1 447 1 401 2 083 2 068 1 682 1 306 1 156 Deferred tax assets 657-5 662 770 820 872 921 1 023 1 099 1 218 Other assets 8 380-5 145 13 525 11 207 19 046 7 531 12 477 15 579 9 245 8 611 Prepaid expenses and accrued income 7 736-1 063 8 799 7 877 9 153 8 371 8 180 8 136 7 750 6 325 Group of assets classified as held for sale 208 4 204 245 248 250 Total assets 1 846 941-118 102 1 965 043 1 834 070 1 888 520 1 857 065 1 885 907 1 757 517 1 744 531 1 715 681 Liabilities and equity Liabilities Amounts owed to credit institutions 122 202-6 858 129 060 128 657 130 000 139 598 129 363 130 175 119 204 136 766 Deposits and borrowings from the public 579 663-50 931 630 594 559 955 603 773 561 696 554 788 528 992 524 107 534 237 Debt securities in issue 767 454-58 384 825 838 786 460 784 607 781 458 819 230 757 203 738 618 686 517 Financial liabilities for which customers bear the investment risk 105 104 436 104 668 101 837 105 428 96 449 92 942 104 499 102 601 100 988 Derivatives 92 141-12 037 104 178 90 179 80 365 90 484 96 133 60 901 69 782 65 935 Current tax liabilities 1 378 39 1 339 1 176 1 357 472 713 572 669 317 Deferred tax liabilities 3 476 218 3 258 2 951 2 822 3 183 1 674 1 857 1 569 1 734 Short positions securities 18 229 4 766 13 463 17 272 22 398 30 603 30 666 28 342 23 583 34 179 Other liabilities 16 624-1 619 18 243 12 254 20 484 13 059 23 322 15 770 23 177 13 625 Accrued expenses and prepaid income 16 782 307 16 475 14 088 19 525 18 612 14 444 8 206 18 399 15 074 Provisions 3 281-147 3 428 3 579 3 603 3 690 4 157 4 131 4 065 4 087 Subordinated liabilities 14 307 1 327 12 980 17 023 18 659 19 531 21 129 20 811 23 079 27 187 Liabilities directly associated with group of assets classified as held for sale 76-1 77 95 96 97 Total liabilities 1 740 717-122 884 1 863 601 1 735 526 1 793 117 1 758 932 1 788 561 1 661 459 1 648 853 1 620 646 Equity Non-controlling interests 154-1 155 155 144 140 138 135 142 138 Equity attributable to shareholders of Swedbank AB 106 070 4 783 101 287 98 389 95 259 97 993 97 208 95 923 95 536 94 897 Total equity 106 224 4 782 101 442 98 544 95 403 98 133 97 346 96 058 95 678 95 035 Total liabilities and equity 1 846 941-118 102 1 965 043 1 834 070 1 888 520 1 857 065 1 885 907 1 757 517 1 744 531 1 715 681 Equity attributable to shareholders Goodwill, 31 Dec 2012 of Swedbank AB, 31 Dec 2012 SEKm Swedbank AB (Sweden) 64 590 Swedbank Robur 328 Swedbank Mortgage (Sweden) 33 965 Swedbank Försäkring 651 Swedbank Finans (Sweden) 4 699 Ölands Bank AB 9 Swedbank Robur (Sweden) 1 573 Swedbank (Estonia) 3 651 Swedbank Försäkring (Sweden) 2 578 Swedbank (Latvia) 1 893 Swedbank Luxembourg (Luxembourg) 60 Swedbank (Lithuania) 3 192 Sparia Försäkring (Sweden) 616 Group total 9 724 Swedbank (Estonia) 15 313 Goodwill within parent company: Swedbank (Latvia) 7 895 Swedbank AB (Sweden) 1 728 Swedbank (Lithuania) 7 212 Total goodwill 11 452 JSC Swedbank (Ukraine) -372 OAO Swedbank (Russia) 1 422 OOO Leasing (Russia) 292 First Securities (Norway) 1 176 Ektornet (Sweden) 832 Swedbank Babs Holding (Sweden 382 Other subsidiaries 1 526 Total legal equity 143 759 Group adjustments and eliminations -37 689 Total equity attributable to shareholders of Swedbank AB 106 070 SEKm 9
55B 5B Net interest income analysis, Group Financial information, Group Net interest income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 SEKm 2012 2012 2012 2011 2011 2011 2011 2010 Interest income Loans to credit institutions 228-87 315 283 335 436 533 489 347 175 Loans to the public 1) 11 352-618 11 970 12 239 12 619 12 743 12 277 11 687 10 802 10 348 Interest-bearing securities 542-182 724 825 749 916 879 1 015 619 373 Other 114 12 102 126 162 271 172 46 62 36 Total Interest income 12 236-875 13 111 13 473 13 865 14 366 13 861 13 237 11 830 10 932 Interest expenses Amounts owed to credit institutions -230 49-279 -278-321 -345-330 -360-270 -269 Deposits and borrowings from the public -1 576 319-1 895-1 900-2 044-2 197-2 053-1 853-1 482-1 239 of which deposits guarantee fees -147-8 -139-135 -134-131 -127-140 -108-104 Debt securities in issue -5 016 473-5 489-5 547-5 689-5 965-5 898-5 778-5 206-5 274 of which state guarantee fees -81 4-85 -88-133 -245-280 -293-345 -363 Subordinated liabilities -192 60-252 -279-276 -341-294 -292-317 -329 Other -179-19 -160-172 -165-197 -151-19 -270-61 of which stability fee -147-13 -134-144 -144-159 -133-132 -121-47 Total interest expenses -7 193 882-8 075-8 176-8 495-9 045-8 726-8 302-7 545-7 172 Derivatives, income -65 13-78 85 256-6 97-53 245-4 Derivatives, expenses 2) 487 182 305-130 -418-348 -400-168 -29 747 Derivatives, net interest income 422 195 227-45 -162-354 -303-221 216 743 Net interest income 5 465 202 5 263 5 252 5 208 4 967 4 832 4 714 4 501 4 503 Average balances Loans to credit institutions 95 499-9 328 104 827 102 786 109 439 189 569 210 498 204 541 191 131 202 292 Loans to the public 1 248 087 10 320 1 237 767 1 222 858 1 213 274 1 196 649 1 179 711 1 171 118 1 172 830 1 201 516 Interest-bearing securities 120 138 4 245 115 893 125 226 118 070 118 207 115 912 131 986 113 289 92 729 Interest-bearing assets 1 463 724 5 237 1 458 487 1 450 870 1 440 783 1 504 425 1 506 121 1 507 645 1 477 250 1 496 537 Derivatives 105 413-1 976 107 389 101 622 98 035 99 784 80 362 63 610 66 226 78 655 Other assets 327 934-1 861 329 795 293 305 316 692 255 293 202 221 168 026 169 146 163 835 Total assets 1 897 071 1 400 1 895 671 1 845 797 1 855 510 1 859 502 1 788 704 1 739 281 1 712 622 1 739 027 Amounts owed to credit institutions 128 808-812 129 620 135 942 132 250 134 784 135 212 129 941 129 126 158 359 Deposits and borrowings from the public 606 948 7 790 599 158 578 999 586 056 574 654 544 273 530 668 520 890 529 546 Debt securities in issue 797 194-10 534 807 728 778 155 783 419 799 257 782 722 742 249 719 639 709 644 Subordinated liabilities 13 995-1 806 15 801 18 014 19 180 20 151 20 941 21 675 25 558 27 944 Interest-bearing liabilities 1 546 945-5 362 1 552 307 1 511 110 1 520 905 1 528 846 1 483 148 1 424 533 1 395 213 1 425 493 Derivatives 96 484-5 893 102 377 89 641 87 102 87 496 74 220 70 254 74 086 77 499 Other liabilities 149 910 8 676 141 234 147 972 149 392 145 187 134 128 148 935 147 605 142 012 Total liabilities 1 793 339-2 579 1 795 918 1 748 723 1 757 399 1 761 529 1 691 496 1 643 722 1 616 904 1 645 004 Equity 103 732 3 979 99 753 97 074 98 111 97 973 97 208 95 559 95 718 94 023 Total liabilities and equity 1 897 071 1 400 1 895 671 1 845 797 1 855 510 1 859 502 1 788 704 1 739 281 1 712 622 1 739 027 Net interest income analysis, Group Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 % 2012 2012 2012 2012 2011 2011 2011 2011 2010 Average interest rates Loans to credit institutions 0.95-0.25 1.20 1.10 1.22 0.92 1.01 0.96 0.73 0.35 Loans to the public 3.64-0.22 3.87 4.00 4.16 4.26 4.16 3.99 3.68 3.44 Interest-bearing securities 1.80-0.69 2.50 2.64 2.54 3.10 3.03 3.08 2.19 1.61 Interest-bearing assets 3.31-0.26 3.57 3.68 3.80 3.75 3.64 3.50 3.19 2.91 Amounts owed to credit institutions 0.71-0.15 0.86 0.82 0.97 1.02 0.98 1.11 0.84 0.68 Deposits and borrowings from the public 1.04-0.22 1.27 1.31 1.40 1.53 1.51 1.40 1.14 0.94 Debt securities in issue 2.52-0.20 2.72 2.85 2.90 2.99 3.01 3.11 2.89 2.97 Subordinated liabilities 5.49-0.89 6.38 6.20 5.76 6.77 5.62 5.39 4.96 4.71 Interest-bearing liabilities 1.81-0.23 2.04 2.12 2.19 2.31 2.31 2.33 2.09 2.00 Net interest margin 1.15 0.04 1.11 1.14 1.12 1.07 1.08 1.08 1.05 1.04 1) 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
44B 4B Income analysis Financial information, Group Income analysis, Group YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Net interest income 1) 2) 21 188 19 014 11 5 465 5 263 5 252 5 208 4 967 4 832 4 714 4 501 4 503 Payment processing 3 118 3 226-3 784 830 773 731 799 877 825 725 873 Service concepts 321 186 73 86 85 77 73 55 50 43 38 8 Asset management 3 693 3 808-3 948 916 905 924 899 916 988 1 005 1 010 Life insurance 276 313-12 68 69 66 73 87 73 78 75 74 Brokerage 351 470-25 88 74 76 113 96 110 112 152 158 Other securities -90-105 -14-4 -23-46 -17-48 -22-23 -12 10 Corporate Finance 338 154 123 26 78 111-14 42 77 49 85 Lending and Guarantees 836 803 4 213 202 213 208 217 198 136 252 266 Deposits 61 67-9 -2 22 20 21 6 25 16 20 6 Real estate brokerage 158 160-1 44 38 43 33 35 42 48 35 40 Non-Life insurance 62 59 5 15 15 15 17 25 21 6 7 18 Other commission income 512 456 12 141 127 126 118 134 106 106 110 151 Net commission income 9 636 9 597 0 2 504 2 381 2 346 2 405 2 291 2 438 2 412 2 456 2 699 Financial instruments held for trading 1 833 1 232 49 576 261 489 507 235 255 247 495 659 Financial instruments intended to hold until maturity 701 352 99 176 307-34 252 324 4 264-240 -302 Net gains and losses on financial items at fair value 2 534 1 584 60 752 568 455 759 559 259 511 255 357 Net insurance 595 506 18 127 147 163 158 134 97 161 114 147 Färs & Frosta Sparbank 80 72 12 20 22 21 17 20 20 18 14 14 Swedbank Sjuhärad 125 121 4 29 36 29 31 26 31 35 29 28 Other jointly owned banks in Sweden 51 49 4 15 11 10 15 12 13 13 11 9 BGC-Holding 7 16-56 4 2-1 2-6 -8 25 5-7 EnterCard Holding 500 437 14 90 141 141 128 84 135 106 112 78 UC 9-1 2 2 3 2 2-1 -2 2 Other companies 25 73-65 -4 10 6 13 17 26 28 2 3 Share of the profit or loss of associates 797 767 4 156 224 209 208 155 217 224 171 127 Real estate income 29 29-1 7 4 9 9 9 9 6 6 6 IT/administrative services to savings banks 756 785-4 178 205 194 179 193 204 208 180 196 Assets taken over 646 586 10 159 161 165 161 199 143 172 71 73 Other 1) 3) 439 1 177-63 143 98 104 94 149 112 89 827-13 Other income 1 870 2 577-27 487 468 472 443 550 468 475 1 084 262 Total income 36 620 34 045 8 9 491 9 051 8 897 9 181 8 656 8 311 8 497 8 581 8 095 1) In Q4 2010, penalties' related income of SEK 191m was reclassified from other income to net interest income. 2) 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. 3) In Q1 2011, One-off revenue of SEK 716m from a settlement with the bankruptcy estate of Lehman Brothers. 11
99B 9B Expense analysis Financial information, Group Expense analysis, Group YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Staff costs Salaries and other remunerations 5 657 6 291-10 1 411 1 350 1 432 1 464 1 756 1 523 1 493 1 519 1 507 Variable staff costs 1) 738 395 87 157 184 189 208 47 73 129 146 101 Pension costs 1) 986 1 001-1 287 239 222 238 212 281 248 260 185 Social insurance charges 1) 1 699 1 842-8 410 410 435 444 520 446 429 447 431 Training costs 114 120-5 38 14 33 29 41 21 30 28 33 Other staff costs 219 269-19 52 55 55 57 75 66 61 67 57 Total staff costs 9 413 9 918-5 2 355 2 252 2 366 2 440 2 651 2 410 2 390 2 467 2 314 Other expenses Premises and rents 1 288 1 337-4 330 313 314 331 350 313 335 339 354 IT expenses 1 603 1 695-5 419 366 380 438 517 377 402 399 457 Telecommunications and postage 231 251-8 57 57 53 64 52 71 52 76 63 Advertising, PR and marketing 333 401-17 120 57 87 69 139 84 106 72 131 Consultants 289 530-45 79 65 70 75 112 101 166 151 244 Compensation to Savings Banks 622 530 17 165 146 159 152 138 121 142 129 137 Other purchased services 604 821-26 150 146 167 141 214 220 204 183 211 Security transport and alarm systems 393 436-10 94 96 102 101 107 108 113 108 125 Supplies 133 201-34 35 26 33 39 49 50 47 55 66 Travel 173 239-28 51 30 47 45 67 49 64 59 78 Entertainment 50 87-43 15 10 12 13 25 18 23 21 39 Repair/maintenance of inventories 141 169-17 29 34 37 41 37 28 57 47 56 Other expenses 794 774 3 168 193 199 234 212 215 164 183 166 Total other expenses 6 654 7 471-11 1 712 1 539 1 660 1 743 2 019 1 755 1 875 1 822 2 127 Depreciation/amortisation 882 1 011-13 220 207 225 230 277 288 222 224 286 Total expenses 16 949 18 400-8 4 287 3 998 4 251 4 413 4 947 4 452 4 487 4 513 4 727 1) Social insurance charges and pension costs related to variable pay are presented as variable staff costs. 12
22B 2B Variable pay Allocations 1) Full-year Q4 SEKm Financial information, Group Duration period % Cash vs. shares for shares 2) Delivery date for shares Programmes 2012 General programme Eken 2012 759 158 Individual programme 2012 324 77 of which cash 205 47 of which shares 119 30 Other 2012 111 20 Total allocations, 2012 1 194 255 100% shares ~60% cash & 40% shares 100% cash 50 months 50 months 2016 2016 Programmes 2011 3) General programme Eken 2011 4) 557 Individual programme 2011 229 of which cash 143 of which shares 4) 86 Other 2011 92 Total allocations, 2011 878 100% shares ~60% cash & 40% shares 100% cash 38 months for 50% of shares; 50 months for 50% of shares 50 months 2014 for 50% of shares and 2015 for 50% shares 2015 Programmes 2010 3) Individual programme 2010 301 of which cash 164 of which shares 4) 137 Other 2010 109 Total allocations, 2010 410 ~50% cash & 50% shares 100% cash 50 months 2014 1) Allocations include social insurance charges. Full-year allocations are expressed as YTD allocations calculated to full-year figures. 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 accounting over the duration period. 3) Allocations for shares 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 2012 SEKm Jan-Dec General programme Eken 2012 182 Individual programme 2012 233 of which cash 205 of which shares 28 General programme 2011 156 Individual programme 2011 23 Individual programme 2010 33 Other 111 Total 738 Equity-settled share based programmes Recognised remuneration expense, including social insurance charges 5) FY 2010 FY 2011 2012 FY 2013 FY 2014 FY 2015 FY 2016 SEKm Jan-Dec expected expected expected expected TOTAL General programme Eken 2012 182 182 182 182 31 759 Individual programme 2012 28 29 29 29 4 119 General programme Eken 2011 164 156 151 75 11 557 Individual programme 2011 20 23 21 19 3 86 Individual programme 2010 41 29 33 31 3 137 Total 41 213 422 414 308 225 35 1 658 Number of performance rights 6) General programme Eken 2012, expected Individual programme 2012, expected General programme Eken 2011, current Individual programme 2011, current Individual programme 2010, current Total Dec 2012 4 552 844 696 978 4 354 726 708 679 1 067 693 11 380 921 5) Adjustments for actual outcome are usually included in remuneration expenses the year after the performance year. 6) Number of performance rights gives impact on dilution and slightly differs from the number of rights that establish the recognised remuneration expense. Shares belonging to 2010 and 2011 include dividend compensation and adjustment for staff turnover. 13
Retail Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Income statement Net interest income 13 665 12 317 11 3 407 3 447 3 404 3 407 3 244 3 143 3 012 2 918 2 757 Payment processing 1 500 1 566-4 381 387 365 367 380 425 374 387 421 Service concepts 321 186 73 86 85 77 73 55 50 43 38 8 Asset management 1 925 1 949-1 506 471 472 476 454 477 508 510 532 Life insurance 278 303-8 69 68 66 75 77 69 80 77 64 Brokerage 255 323-21 61 49 69 76 50 83 85 105 127 Other securities 7 3 5 5-2 -1 3 2-2 -1 Lending and guarantees 190 219-13 45 64 36 45 56 55 54 54 58 Deposits 49 49 5 15 14 15 5 15 15 14 4 Corporate finance 2 1 100 1 1 1 1 Real estate brokerage 158 159-1 44 38 43 33 35 42 47 35 40 Non-Life insurance 46 37 24 12 13 12 9 20 8 4 5 15 Other commissions 367 388-5 105 74 96 92 124 92 81 91 107 Net commission income 5 098 5 183-2 1 320 1 269 1 248 1 261 1 259 1 316 1 294 1 314 1 376 Net gains and losses on financial items at fair value 203 216-6 47 51 55 50 59 58 56 43 78 Net insurance 307 183 68 65 82 80 80 41 16 73 53 64 Share of the profit or loss of associates 788 769 2 155 222 209 202 159 216 224 170 127 Other income 516 523-1 113 138 142 123 142 136 130 115 174 Total income 20 577 19 191 7 5 107 5 209 5 138 5 123 4 904 4 885 4 789 4 613 4 576 Staff costs 3 475 3 674-5 864 848 871 892 937 893 902 942 896 Variable staff costs 143 95 51 24 43 34 42 14 26 33 22 16 Expenses for premises 598 568 5 168 147 140 143 148 137 142 141 160 IT expenses 540 568-5 152 115 133 140 156 135 136 141 166 Consultants 44 87-49 12 8 11 13 24 17 24 22 30 Other expenses 4 580 4 515 1 1 185 1 174 1 132 1 089 1 181 1 039 1 170 1 125 1 136 of which internally sold and bought services 3 025 2 905 4 777 819 725 704 745 683 737 740 654 Depreciation/amortisation 96 95 1 27 22 24 23 26 24 23 22 26 Total expenses 9 476 9 602-1 2 432 2 357 2 345 2 342 2 486 2 271 2 430 2 415 2 430 Profit before impairments 11 101 9 589 16 2 675 2 852 2 793 2 781 2 418 2 614 2 359 2 198 2 146 Impairment of intangible assets Impairment of tangible assets Credit impairments 295 335-12 102 69 100 24 216 108 6 5 140 Operating profit 10 806 9 254 17 2 573 2 783 2 693 2 757 2 202 2 506 2 353 2 193 2 006 Tax expense 2 583 2 267 14 446 733 696 708 532 644 515 576 501 Profit for the period from continuing operations 8 223 6 987 18 2 127 2 050 1 997 2 049 1 670 1 862 1 838 1 617 1 505 Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest 8 223 6 987 18 2 127 2 050 1 997 2 049 1 670 1 862 1 838 1 617 1 505 Profit for the period attributable to: Shareholders of Swedbank AB 8 213 6 973 18 2 127 2 047 1 994 2 045 1 668 1 857 1 835 1 613 1 502 Non-controlling interests 10 14-29 3 3 4 2 5 3 4 3 14
Retail Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks 1 1 1 1 2 1 1 2 2 2 Loans to credit institutions 33 32 3 33 29 29 33 32 31 31 28 31 Loans to the public 924 899 3 924 921 914 907 899 892 886 882 875 Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk 102 94 9 102 102 99 101 94 90 102 100 99 Derivatives Other assets 15 14 7 15 14 14 14 14 14 13 12 12 Total assets 1 075 1 040 3 1 075 1 067 1 058 1 055 1 040 1 028 1 034 1 024 1 019 Liabilities and equity Amounts owed to credit institutions 74 76-3 74 70 70 69 76 74 76 69 73 Deposits and borrowings from the public 380 368 3 380 374 370 362 368 356 351 342 348 Debt securities in issue Financial liabilities for which customers bear inv. risk 103 94 10 103 103 100 103 94 91 102 101 99 Derivatives Other liabilities 486 466 4 486 487 484 489 466 472 471 478 463 Subordinated liabilities 10 10 9 9 12 13 Allocated equity 32 26 23 32 33 34 32 26 26 25 22 23 Total liabilities and equity 1 075 1 040 3 1 075 1 067 1 058 1 055 1 040 1 028 1 034 1 024 1 019 Key figures Key performance indicators Return on allocated equity, % 25.5 28.4 26.2 24.4 24.6 26.5 25.7 28.7 30.8 28.5 27.1 Cost/Income ratio 0.46 0.50 0.48 0.45 0.46 0.46 0.51 0.46 0.51 0.52 0.53 Common Equity Tier 1 capital ratio, Basel 2, % 14.7 11.4 14.7 14.6 14.8 14.5 11.4 11.3 11.0 10.3 0.0 Credit impairment ratio, % 0.03 0.04 0.04 0.03 0.04 0.01 0.09 0.05 0.00 0.00 0.06 Loan/Deposit ratio, % 244 244 244 246 247 251 244 251-0.03 265 251 Volumes, SEKbn Loans to the public excluding repos & SNDO 1) 924 899 3 924 921 914 907 899 892 886 882 875 Deposits from the public excluding repos & SNDO 1) 380 368 3 380 374 370 362 368 356 351 342 348 Mutual funds & insurance 269 246 9 269 262 255 260 246 239 267 269 275 Index linked bonds 14 16-13 14 16 16 16 16 16 17 17 17 Allocated equity, average, SEKm 32 244 24 572 31 32 524 33 610 32 410 30 921 25 941 25 907 23 862 22 630 22 153 Common Equity Tier 1 capital, period end 30.6 24.9 23 30.6 31.9 32.6 30.8 24.9 25.0 24.5 23.3 Risk-weighted assets, Basel 2 208 219-5 208 218 220 212 219 222 222 227 222 Commitments 101 106-5 101 108 108 103 106 107 114 109 107 Full-time employees 4 807 4 946-3 4 807 4 775 4 829 4 920 4 946 5 004 5 120 5 193 5 208 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 3.4 3.4 3.4 3.3 3.3 3.2 3.2 Number of internet bank payments (incl. savings banks) 193.9 178.6 9 50.8 46.1 50.3 46.8 42.9 44.6 45.3 45.8 45.9 Number of Mobile bank customers (incl. savings banks) 1.2 0.7 78 1.2 1.1 0.9 0.8 0.7 0.5 0.4 0.3 0.2 Number of cards 3.8 3.8 1 3.8 3.8 3.8 3.8 3.8 3.8 3.8 3.7 3.8 Number of card purchases 808.2 741.4 9 214.4 208.5 202.2 183.2 195.0 192.5 187.3 166.6 177.9 POS/total card turnover, % 2) 72.2 69.6 73.6 71.8 71.6 71.6 70.7 69.2 69.3 69.3 68.9 Number of card acquiring, Nordic Countries 1 348.9 1 236.5 9 354.7 349.5 338.8 305.8 322.0 315.2 315.5 283.8 309.4 Total acquired amount, Nordic Countries, SEKm 367 460 346 926 6 97 495 95 328 93 634 81 004 90 822 88 878 89 852 77 372 91 482 2) Point of Sale (POS) 15
Large Corporates & Institutions Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Income statement Net interest income 3 388 3 514-4 824 852 825 887 1 051 756 884 823 706 Payment processing 504 469 7 129 149 115 111 107 104 147 111 125 Service concepts Asset management 190 223-15 39 58 39 54 49 52 54 68 65 Life insurance 6 7-14 2 2 2 2 1 2 2 1 Brokerage 83 128-35 24 22 4 33 44 20 25 39 27 Other securities -76-101 -25-3 -21-36 -16-46 -16-21 -18-10 Lending and guarantees 452 391 16 120 91 122 119 109 96 32 154 159 Deposits 12 18-33 -7 7 6 6 1 10 1 6 2 Corporate finance 336 153 122 26 78 110-13 41 76 49 85 Real estate brokerage Non-life insurance Other commissions 95 52 83 19 45 16 15 16 9 18 9 38 Net commission income 1 602 1 340 20 443 379 346 434 269 317 334 420 492 Net gains and losses on financial items at fair value 1 717 705 412 341 316 648 224 95 20 366 436 Net insurance Share of the profit or loss of associates 6-5 6-5 -1 1 Other income 50 748-93 24 9 12 5-5 17 9 727 16 Total income 6 763 6 302 7 1 703 1 581 1 499 1 980 1 534 1 184 1 247 2 337 1 650 Staff costs 1 099 1 361-19 269 255 281 294 422 326 300 313 304 Variable staff costs 361 152 71 66 118 106 13 6 50 83 69 Expenses for premises 133 165-19 31 30 37 35 50 37 46 32 32 IT expenses 413 371 11 120 96 103 94 88 98 90 95 121 Consultants 73 122-40 21 15 17 20 31 25 25 41 54 Other expenses 698 753-7 159 231 154 154 210 163 214 166 182 of which internally sold and bought services 420 366 15 97 161 89 73 108 67 110 81 81 Depreciation/amortisation 43 46-7 12 11 10 10 17 10 10 9 14 Total expenses 2 820 2 970-5 683 704 720 713 831 665 735 739 776 Profit before impairments 3 943 3 332 18 1 020 877 779 1 267 703 519 512 1 598 874 Impairment of intangible assets 4 17-76 4 17 Impairment of tangible assets Credit impairments 185-189 152-35 54 14 4-68 -20-105 62 Operating profit 3 754 3 504 7 868 912 721 1 253 682 587 532 1 703 812 Tax expense 947 1 128-16 62 210 245 430 252 119 140 617 209 Profit for the period from continuing operations 2 807 2 376 18 806 702 476 823 430 468 392 1 086 603 Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest 2 807 2 376 18 806 702 476 823 430 468 392 1 086 603 Profit for the period attributable to: Shareholders of Swedbank AB 2 807 2 376 18 806 702 476 823 430 468 392 1 086 603 Non-controlling interests 16
Large Corporates & Institutions Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKbn 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks 7 7 7 7 7 7 7 6 1 1 2 Loans to credit institutions 262 297-12 262 301 269 286 297 316 310 310 358 Loans to the public 188 179 5 188 207 184 174 179 155 149 148 169 Bonds and other interest-bearing securities 57 63-10 57 61 59 78 63 65 70 76 78 Financial assets for which customers bear inv. risk Derivatives 125 122 2 125 133 113 105 122 120 68 77 72 Other assets 15 13 15 15 15 14 23 13 13 11 16 17 Total assets 654 681-4 654 724 646 673 681 675 609 628 696 Liabilities and equity Amounts owed to credit institutions 206 232-11 206 222 209 223 232 242 242 253 222 Deposits and borrowings from the public 90 76 18 90 99 80 99 76 71 64 86 92 Debt securities in issue 16 18-11 16 17 19 18 18 18 19 18 84 Financial liabilities for which customers bear inv. risk Derivatives 121 120 1 121 131 112 103 120 116 66 76 72 Other liabilities 203 216-6 203 237 206 211 216 206 195 174 203 Subordinated liabilities 6 6 7 7 5 6 Allocated equity 18 13 38 18 18 20 19 13 15 16 16 17 Total liabilities and equity 654 681-4 654 724 646 673 681 675 609 628 696 Key figures Key performance indicators Return on allocated equity, % 15.1 15.5 17.5 14.2 9.8 19.1 12.3 11.8 10.2 27.0 14.6 Cost/Income ratio 0.42 0.47 0.40 0.45 0.48 0.36 0.54 0.56 0.59 0.32 0.47 Common Equity Tier 1 capital ratio, Basel 2, % 13.7 9.5 13.7 13.0 14.2 13.1 9.5 11.0 10.5 9.1 Credit impairment ratio, % 0.08-0.06 0.23-0.06 0.09 0.02-0.10-0.03-0.14 0.07 Loan/Deposit ratio, % 200 218 200 183 214 179 218 216 227 154 176 Volumes, SEKbn Loans to the public excluding repos & SNDO 1) 136 134 1 136 142 139 133 134 125 121 116 128 Deposits from the public excluding repos & SNDO 1) 68 62 10 68 77 65 74 62 59 53 64 73 Mutual funds & insurance 13 13 13 13 13 13 13 13 15 16 15 Index linked bonds 18 22-18 18 21 22 22 22 22 23 23 23 Discretionary asset management Goodwill Allocated equity, average, SEKm 18 597 15 305 22 18 429 19 769 19 384 17 227 13 933 15 885 15 347 16 098 16 526 Common Equity Tier 1 capital, period end 17.4 12.3 41 17.4 16.6 18.0 17.7 12.3 14.3 15.2 13.3 Risk-weighted assets, Basel 2 127 129-2 127 128 127 135 129 131 144 146 156 Commitments 60 55 9 60 58 49 51 55 52 53 51 54 Full-time employees 1 006 1 076-7 1 006 1 021 1 017 1 038 1 076 1 059 1 063 1 114 1 107 1) Excluding intra-group transactions Other information, SEKm Net interest income, Large Corporates 2 736 1 959 40 729 689 666 652 563 519 444 433 483 17
Baltic Banking Business areas YTD YTD % Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 SEKm 2012 2011 Y/Y 2012 2012 2012 2012 2011 2011 2011 2011 2010 Income statement Net interest income 3 298 3 910-16 761 755 870 912 901 995 1 017 997 1 168 Payment processing 1 094 1 096-0 261 272 286 275 297 297 277 225 291 Service concepts Asset management 129 136-5 33 32 32 32 29 39 31 37 35 Life insurance -7 1-2 -1-2 -2 7-7 1 1 Brokerage 1 1 Other securities -7-6 17-2 -2-2 -1-1 -3-1 -1-2 Lending and guarantees 178 163 9 45 44 46 43 41 43 42 37 43 Non-life insurance 15 20-25 2 3 3 7 5 12 1 2 2 Other commissions 57 44 30 13 12 15 17 2 11 14 17 15 Net commission income 1 460 1 454 0 351 360 378 371 380 392 365 317 385 Net gains and losses on financial items at fair value 288 280 3 79 72 74 63 84 80 61 55 119 Net insurance 280 304-8 61 63 80 76 89 77 81 57 80 Share of the profit or loss of associates Other income 104 199-48 23 23 28 30 67 45 42 45-126 Total income 5 430 6 147-12 1 275 1 273 1 430 1 452 1 521 1 589 1 566 1 471 1 626 Staff costs 730 802-9 190 168 184 188 221 185 197 199 206 Variable staff costs 62 34 82 16 12 14 20 5 11 13 5 Expenses for premises 187 208-10 45 45 45 52 57 51 48 52 52 IT expenses 162 244-34 40 37 40 45 73 58 59 54 17 Consultants 6 8-25 2 1 2 1 4 1 2 1 Other expenses 1 121 1 215-8 308 260 272 281 327 282 299 307 376 of which internally sold and bought services 848 874-3 228 205 207 208 234 204 226 210 303 Depreciation/amortisation 124 132-6 30 30 31 33 32 36 31 33 34 Total expenses 2 392 2 643-9 631 553 588 620 719 624 649 651 685 Profit before impairments 3 038 3 504-13 644 720 842 832 802 965 917 820 941 Impairment of intangible assets 1 913 1 913 Impairment of tangible assets 15 34-56 8 5 4-2 21-12 20 5 72 Credit impairments -685-1 002-32 -329-18 -204-134 -117-361 -142-382 -163 Operating profit 3 708 2 559 45 965 733 1 042 968-1 015 1 338 1 039 1 197 1 032 Tax expense 347 449-23 116 58 96 77 71 127 125 126 39 Profit for the period from continuing operations 3 361 2 110 59 849 675 946 891-1 086 1 211 914 1 071 993 Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest 3 361 2 110 59 849 675 946 891-1 086 1 211 914 1 071 993 Profit for the period attributable to: Shareholders of Swedbank AB 3 361 2 110 59 849 675 946 891-1 086 1 211 914 1 071 993 Non-controlling interests 18