Facts Q2, 21 July 22, 21
Q2, 21 22 July 21 Contents page General information 2 Geographic reach 2 Macro economic indicators 3-4 Business volumes 5 Business volumes 5 Lending 6-7 Savings and investments 8 Other products 9 Market shares 1 Income statement and key figures 11 Income statement, 5-year summary 11 Key figures and Balance sheet data, 5-year summary 12 Income statement 9-quarter summary 13 Non-recurring items 9-quarter 14 Key figures 9-quarter 15 Income analysis 16 Net interest income analysis 17 Expense analysis 18 Employees 19 Customer satisfaction index 2 FX-positions, Exchange rates and Impact from exchange rate fluctuations 21 Impact from exchange rate fluctuations 22 Currency distribution 23 Business areas 24 Profit before impairments and non-recurring items by business area 25-26 Retail 27 Swedbank Insurance 28 Large Corporates & Institutions 29 First Securities 3 Baltic Banking 31 Baltic Banking Operations 32 Estonia 33 Latvia 34 Lithuania 35 Other and Investment 36 Russia & Ukraine 37 Russian Banking 38 Ukrainian Banking Operations 39 Ukrainian Banking Investment 4 Russia & Ukraine, other 41 Asset Management 42 Ektornet 43 Shared Services and Group Staffs, Eliminations 44 Asset quality 45 Balance sheet, Equity and Goodwill 45 Derivatives 46 Outstanding subordinated loans 47 Capital adequacy analysis 48 Sensitivity analysis and maturity distribution 49 Credit risks 5-51 Asset quality 52-54 Credit quality 55 Credit impairments 56 Impaired loans 57-58 Loans past due 59 Interest bearing securities 6 Organisation, Group Executive Committee and Rating 61 Shareholders and share data 62 Definitions 63 Contacts and financial calendar 64
Geographic reach Q2, 21 Swedbank Group, distribution 1% 8% 6% 4% 2% % 8 11 26 1 66 Profit before impairments and nonrecurring items 79 Loans 1 57 32 42 Private customers 16 52 Branches Sweden Baltic Region International 1 Market position, home markets Mortgage lending, private; Sweden, Estonia and Latvia Bank lending, private; Estonia, Latvia and Lithuania Deposits, private; Sweden, Estonia, Latvia and Lithuania Bank lending, corporate; Estonia and Latvia Deposits, corporate; Estonia Leasing, corporate; Estonia and Latvia Mutual funds; Sweden Individual pension savings; Sweden Pension II reform; Estonia, Latvia and Lithuania Card clearance transactions; Sweden Real estate brokerage; Sweden Strong positions in Mortgage lending, private; Lithuania Bank lending, private; Sweden Bank lending, corporate; Lithuania and Sweden Deposits, corporate; Sweden, Latvia and Lithuania Leasing corporate; Sweden and Lithuania Unit-linked insurance; Sweden Index linked bonds; Sweden Sweden Population 9.2m Employees 8 328 Private customers 4.1m of which Internet customers 2,8m Corporate customers 283 of which internet customers 266 Organisations 112 Branches 362 ATMs 772 Cards 3.7m Estonia Population 1.3m Employees 2 562 Private customers 1.2m of which Internet customers.8m Corporate customers 1 Branches 65 ATMs 548 Cards 1.1m Lithuania Population 3.4m Employees 2 37 Private customers 3.2m of which Internet customers 1.2m Corporate customers 93 Branches 98 ATMs 451 Cards 1.7m Latvia Population 2.3m Employees 1 769 Private customers 1.m of which Internet customers.8m Corporate customers 62 Branches 59 ATMs 373 Cards.9m Home markets Sweden Estonia Latvia Lithuania Other markets Ukraine Russia - In Moscow, Kaliningrad, S:t Petersburg and a representative office in Krasnodar Denmark - 2 branches Finland - Branch Norway - Branch, investment banking through First Securities (51% owned), EnterCard (5% owned) USA - Merchant/investment banking and corporate banking in New York Luxemburg - Private Banking China - Branch in Shanghai Japan - Representative office in Tokyo Spain - Representative office in Marbella 2
Macro economic indicators Q2, 21 12 1 8 6 4-2 2-4 -1-8 -6-12 -14-16 -18-2 GDP growth, % 25 26 27 28 29 21F 211F GDP growth Average inflation rate (consumer price growth) % 211F 21F 29 28 27 26 25 24 % 211F 21F 29 28 27 26 25 24 Sweden 2.8 2.5-5.1 -.4 3.3 4.3 3.2 4.2 Sweden 2.2 1.4 -.3 3.5 2.2 1.4.5.4 Estonia 4.5 1.5-14.1-3.6 7.2 1. 9.4 7.2 Estonia 2.5 1.5 -.1 1.4 6.7 4.4 4.1 3. Latvia 4. -2.5-18. -4.6 1. 12.2 1.6 8.7 Latvia. -2. 3.5 15.3 1.1 6.6 6.9 6.2 Lithuania 3. -2. -15. 2.8 9.8 7.8 7.8 7.4 Lithuania 1. 1. 4.5 1.9 5.8 3.8 2.7 1.2 Russia 4.5 4.3-7.9 5.9 8.1 7.6 6.3 7.2 Russia 8. 9. 11.7 14.1 9. 9.7 12.7 1.9 Ukraine 4.5 3.5-15. 2.1 7.9 7.3 2.7 12.1 Ukraine -9. 18. 15.9 25.2 12.8 9.1 13.5 9. Denmark 1.6 1.3-4.9 -.9 1.7 3.4 2.4 2.3 Denmark 1.7 2. 1.1 3.6 1.7 1.9 1.7.9 Finland 2.1 1.1-7.8 1.2 4.9 4.4 2.9 4.1 Finland 2.5 1.5 1.6 3.9 1.6 1.3.8.1 Norway 2.7 2.1-1.5 1.8 2.7 2.3 2.7 3.9 Norway 2.1 2.5 2.3 3.4.7 2.5 1.5.6 EU27 1.7 1. -4.2.7 2.9 3.2 2. 2.5 EU27 1.7 1.8 1. 3.7 2.4 2.3 2.3 2.3 Current account balance, % of GDP General Government Financial Balance, % of GDP 211F 21F 29 28 27 26 25 24 211F 21F 29 28 27 26 25 24 Sweden 6.5 6.2 7.2 9.6 8.3 7.3 7. 6.7 Sweden -1.7-1.9 -.8 2.5 3.8 2.5 2.3.8 Estonia 8. 8.5 4.9-8.4-15.8-15.3-9.4-1.6 Estonia -1. -1.4-1.7-2.7 2.6 2.5 1.6 1.6 Latvia 6.5 9. 9.4-13. -22.3-22.5-12.5-12.8 Latvia -6. -8.5-9. -4.1 -.3 -.5 -.4-1. Lithuania. 1.2 3.8-11.9-14.5-1.6-7.1-7.7 Lithuania -6. -8. -9.1-3.3-1. -.4 -.5-1.5 Russia 2. 3. 3.9 6.1 6. 9.5 11. 1.1 Russia -2. -3. -6. 4.1 5.4 7.4 7.5 4.2 Ukraine -1.6 -.5-1.5-7.2-4.2-1.5 2.9 1.6 Ukraine -3. -6. -9. -1.5-1.1 -.7-1.9-3. Denmark 2.4 2.4 4.1 2.2.7 2.9 4.3 2.4 Denmark -4.4-5.5-2.8 3.4 4.8 5.2 5.2 2.1 Finland 1.7 1.9 1.5 2.6 4. 4.9 3.9 6.5 Finland -2.3-4.2-2.4 4.2 5.2 4. 2.7 2.3 Norway 12. 15.2 13.8 18.2 15.9 17.3 16.1 12.7 Norway 1.8 1.2 9.6 19.1 17.7 18.5 15.2 11.1 EU27-1.3-1.4-1.4-2. -1.1-1.2 -.2 1.2 EU27-6.5-7.2-6.8-2.3 -.8-1.4-2.5-2.9 General government debt, % of GDP 211F 21F 29 28 27 26 25 24 GDP per capita (PPP) 29F, USD Inhabitants (millions) GDP (29F, USDbn) Sweden 42.8 42.8 42.3 38.3 4.9 45.7 5.8 51.2 Sweden 35 965 9.2 45.4 Estonia 12.5 1. 7.2 4.6 3.4 4.2 4.5 5.1 Estonia 17 98 1.3 19.1 Latvia 66. 59. 36.1 19.5 9. 1.7 12.4 14.9 Latvia 14 254 2.3 26.2 Lithuania 42. 38. 29.5 15.6 17. 18. 18.4 19.4 Lithuania 16 542 3.4 37.3 Russia 8.3 8. 7.5 6.5 7.5 9.1 14.2 23.1 Russia 14 92 142. 1 229.2 Ukraine 35. 36. 33. 19.9 12.5 14.8 17.7 24.7 Ukraine 6 339 46.3 116.2 Denmark 49.5 46. 41.6 34.2 27.4 32.1 37.8 45.1 Denmark 36 3 5.5 39.3 Finland 54.9 5.5 44. 34.1 35.2 39.7 41.7 44.4 Finland 33 555 5.3 238.1 Norway 53.3 54.6 43.7 49.8 52.3 55.3 44.5 45.6 Norway 52 561 4.8 383. EU27 83.8 79.6 73.6 61.6 58.7 61.3 62.7 62. Source: Swedbank Economic Research Department 3
Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-6 Sep-6 Dec-6 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-6 Sep-6 Dec-6 Mar-7 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Macro economic indicators Q2, 21 % 6, 5,5 5, 4,5 4, 3,5 3, 2,5 2, 1,5 1,,5, Interest rates: Sweden, Eurozone % 24 22 2 18 16 14 12 1 8 6 4 2 Interest rates: Baltics, Eurozone 1-year Swap (SWE) 9 days Euribor 9 days Stibor (SWE) Repo rate (SWE) 9 days Rigibor (Latvia) 9 days Talibor (Estonia) 9 days Euribor 9 days Vilibor (Lithuania) Turnover 7 6 5 4 3 2 1 General index and turnover, equities, Nordic Exchange Stockholm Index 45 4 35 3 25 2 15 1 Sthlm, turnover month OMX Stockholm PI (rs) Real estate price development, Sweden 1) SEK 3 25 3 2 75 2 5 2 25 2 1 75 1 5 1 25 1 75 5 25 23 24 25 26 27 28 29 Q1-1 Sweden Stockholm Gothenburg Malmö 1) Median price for a single family home Source: Swedbank's Boindex (real estate price index) 1 8 1 6 1 4 1 2 1 8 6 4 2 Real estate price development, Baltics 2) EUR/m2 26 27 28 29 H1-1 Tallin Vilnius Riga 2) Average sales price per sqm for apartments Source: Land boards of respective country 4
BBBBB Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Business volumes Q2, 21 Loans to and deposits from the public 1) Assets under management SEKbn % SEKbn 1 4 4 1 4 1 2 1 8 6 4 2 35 3 25 2 15 1 5 1 2 1 8 6 4 2 Loans Deposits Loan/Deposit ratio Discretionary Unit-linked insurance Funds Loans to the public 1) Deposits from the public 1) SEKbn SEKbn 1 1 8 8 6 6 4 4 2 2 Retail Large Corp. & Inst Estonian Banking Latvian Banking Lithuanian Banking Ukrainian Banking Russian Banking Retail Large Corp. & Inst Estonian Banking Latvian Banking Lithuanian Banking Ukrainian Banking Russian Banking Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 1) Excluding Swedish Nat'l Debt Office and repurchase agreements 5
B1B1B1B1B1 Jun-7 Jun-7 Sep-7 Sep-7 Dec-7 Dec-7 Mar-8 Mar-8 Jun-8 Jun-8 Sep-8 Sep-8 Dec-8 Dec-8 Mar-9 Mar-9 Jun-9 Jun-9 Sep-9 Sep-9 Dec-9 Dec-9 Mar-1 Mar-1 May-1 May-1 Jun-7 Jun-7 Sep-7 Sep-7 Dec-7 Dec-7 Mar-8 Mar-8 Jun-8 Jun-8 Sep-8 Sep-8 Dec-8 Dec-8 Mar-9 Mar-9 Jun-9 Jun-9 Sep-9 Sep-9 Dec-9 Dec-9 Mar-1 Mar-1 May-1 May-1 Loans to the public 1) Q2, 21 Sweden SEKbn 6 5 4 3 2 1 % 18 16 14 12 1 8 6 4 2-2 Estonia EURbn 3 25 2 15 1 5 % 1 8 6 4 2-2 Total loans 1) Mortgage loans Total loans 1) Mortgage loans Total loans growth 12m Mortgage growth 12m Total loans growth 12m Mortgage growth 12m Latvia EURbn 3 % 1 Lithuania EURbn 3 % 1 25 8 25 8 2 6 2 6 15 4 15 4 1 2 1 2 5 5-2 -2 Total loans 1) Mortgage loans Total loans 1) Mortgage loans Total loans growth 12m Mortgage growth 12m Total loans growth 12m Mortgage growth 12m Loans by sector, Group Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun SEKbn 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Private customers 649 1 644 645 Private mortgage 6 1 594 593 Private other 49-2 5 52 Corporate customers 51-3 524 547 Agriculture, forestry, fishing 58 58 58 Manufacturing 33-3 34 34 Public sector and utilities 15-6 16 16 Construction 14 14 14 Retail 25-4 26 28 Transportation 15 15 16 Shipping 16 23 13 13 Hotels and restaurants 7 7 7 Information and communication 1-5 2 2 Finance and insurance 17 17 1 Property management 156-3 16 166 Housing cooperatives 67-3 69 71 Professional services 35 35 38 Other corporate lending 51-12 58 74 Loans to the public 1) 1 159-1 -7 1 168 1 192 1 212 1 241 1 254 1 251 1 218 1 169 Credit institutions, incl Swedish Nat'l Debt Office 142 13 31 126 132 95 18 113 92 6 78 Repurchase agreements (Repos) 142 95 73 59 86 5 57 73 95 147 of which to the public 57 25 2 22 21 28 14 3 2 of which to credit institutions 2) 85 77 48 39 64 29 29 59 65 127 Loans 1 443 6 3 1 367 1 383 1 393 1 399 1 424 1 416 1 373 1 394 1) Excluding Swedish Nat'l Debt Office and repurchase agreements 2) Including repurchase agreements for Swedish Nat'l Debt Office 6
B2B2B2B2B2 Loans to the public 2) Q2, 21 Loans to the public, Swedbank Group 2) Loans to the public, Swedbank Mortgage AB 2) 3 June 21 (31 December 29) 3 June 21 (31 December 29) Property SEK 1 159bn (1 192) Corporate mgmt and SEK 681bn (672) excl. Housing Property cooperatives mgmt and 19% (2) Housing Single-family cooperatives homes 25% (26) 61% (6) Private individuals, other 11% (11) Swedbank Mortgage, private individuals 45% (43) Business properties 1% (1) Multi-family housing 15% (16) Agriculture 6% (6) Municipal loans and guarantees 2% (3) Individual condominiums 15% (14) Loans to the public, by country 2) Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun SEKbn 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Bank loans - private 41-5 41 42 42 43 43 44 46 46 Bank loans - corporate 22-2 -13 26 214 227 233 245 247 28 272 Mortgage loans - private 522 1 5 515 51 54 496 484 472 451 442 Mortgage loans - corporate 159-1 -2 161 162 163 162 158 151 13 131 Leasing - private 3 3 3 3 3 4 5 4 4 Leasing and Factoring - corporate 28 8 26 28 28 28 27 29 27 27 Sweden 955-1 952 959 967 965 961 948 938 922 Bank loans - private 3-3 -12 3 3 3 3 3 4 3 3 Bank loans - corporate 28-2 -7 29 31 32 34 35 35 33 31 Mortgage loans - private 27-1 -4 28 3 3 33 33 33 3 29 Leasing and Factoring 8-2 -21 8 9 1 11 12 13 13 12 Other -2 24 328-1 -1-1 -1 1 1 1 Estonia 64-2 -1 67 72 74 8 83 86 8 76 Bank loans - private 2-7 -28 2 2 2 2 3 3 2 2 Bank loans - corporate 24-3 -11 25 27 27 3 31 32 29 26 Mortgage loans - private 19-1 -6 2 21 22 24 24 24 21 21 Leasing and Factoring 5-9 -36 6 7 8 9 1 11 11 1 Other -7 4 67-6 -6-6 -4-3 1 1 Latvia 43-4 -19 47 51 53 61 65 7 64 6 Bank loans - private 2-5 -19 2 3 3 3 3 4 3 3 Bank loans - corporate 16-2 -15 17 19 2 22 22 22 2 19 Mortgage loans - private 17-1 -3 17 18 18 2 2 2 18 17 Leasing and Factoring 8-7 -32 9 11 12 14 15 17 16 16 Other -4 3 13-5 -5-3 -3-1 -1-1 -1 Lithuania 39-3 -21 4 46 5 56 59 62 56 54 Bank loans - private 9 Bank loans - corporate 7-8 -26 9 9 1 11 12 12 1 9 Mortgage loans - private 1-5 -19 1 1 1 1 1 1 1 Leasing and Factoring 1-8 -33 1 1 1 1 1 1 1 1 Other -1 7-1 -1-1 Russia 8-9 -3 1 1 11 13 14 14 12 1 Bank loans - private 4-4 -14 4 4 4 4 5 5 5 4 Bank loans - corporate 9-5 -12 9 9 9 1 11 12 11 1 Mortgage loans - private 2-2 -8 2 2 2 3 3 3 3 2 Leasing and Factoring -1 Other -6-2 -6-6 -6-4 -2-1 -1-1 Ukraine 9-6 -34 9 9 9 13 17 19 18 15 Bank loans - private 5-17 -5 6 7 8 1 11 11 11 1 Bank loans - corporate 36-3 -16 37 38 4 43 44 41 39 22 Other 1) 41-5 -23 43 45 48 53 55 52 5 32 Loans to the public 2) 1 159-1 -7 1 168 1 192 1 212 1 241 1 254 1 251 1 218 1 169 The percentage change is calculated in local currency. 1) Mainly Norway, Denmark, Finland, Luxemburg and USA 2) Excluding Swedish Nat'l Debt Office and repurchase agreements 7
B3B3B3B3B3 Market shares, fund assets, Sweden 3 June 21 (31 March 21) Others 35.1% (34.5) Länsförsäkringar 3.7% (3.9) SHB 8.6% (8.5) Nordea 12.5% (12.3) Swedbank Robur 24.4% (25.1) Savings and Investments Q2, 21 SEB 15.7% (15.7) Savings and investments, Swedbank Group 3 June 21 SEKbn 7 Deposits Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun Balance, SEKbn 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Sweden - private 235 4 7 226 222 22 219 217 215 218 222 Sweden - corporate 159 1 22 158 158 143 13 131 142 121 127 Estonia - private 2 2 5 2 21 2 21 22 22 21 21 Estonia - corporate 25 2 1 26 27 25 27 27 27 27 27 Latvia - private 11 2-2 11 11 11 12 12 13 13 13 Latvia - corporate 9 1 9 1 9 11 11 11 1 1 Lithuania - private 23 1 5 23 24 22 25 25 25 24 24 Lithuania - corporate 11 9 3 11 1 1 1 1 9 11 1 Russia - private 1 6 1 1 1 1 Russia - corporate 3 6 3 3 1 1 1 2 1 1 Ukraine - private 2 3 9 2 2 2 2 2 2 2 2 Ukraine - corporate 1-1 -54 1 1 1 1 3 3 3 3 Luxemburg - private 2-21 -3 2 3 2 2 2 3 3 3 International branches - corporate 3 5 3 4 4 2 2 3 3 3 Deposits from the public 1) 55 2 9 496 497 471 464 465 477 457 466 of which Sweden - current accounts 154 12 154 158 139 138 132 139 129 138 Sweden - savings accounts 25 2 11 21 194 187 184 186 184 183 18 Estonia - current accounts 24 5 11 24 23 22 25 24 24 27 28 Estonia - savings accounts 21-3 3 22 25 23 23 25 25 21 2 Latvia - current accounts 12 4 5 11 11 11 13 12 13 13 13 Latvia - savings accounts 8-3 -7 9 1 9 1 11 11 1 1 Lithuania - current accounts 18 21 24 16 16 16 17 18 18 21 2 Lithuania - savings accounts 16-1 1 18 18 16 18 17 16 14 14 Russia - current accounts 1-11 -38 1 1 1 1 1 Russia - time deposits 3 1 3 3 1 1 1 1 1 1 Ukraine - current accounts 1 14-31 1 1 1 1 1 1 1 1 Ukraine - time deposits 2-3 -16 2 2 2 2 4 4 4 4 Luxemburg - time deposits 2-21 -3 2 3 2 2 2 2 3 3 Credit institutions, incl Swedish Nat'l Debt Office 218-4 -27 228 213 276 299 352 318 22 12 Repurchase agreements (Repos) 5 7 47 26 33 11 14 3 56 46 Deposits from the public and credit institutions 773 771 736 78 774 831 825 715 632 Funds assets under management Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun Balance, SEKbn 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Sweden 436-3 17 448 431 43 374 334 326 351 374 Estonia 11 21 34 9 9 8 8 8 9 1 11 Latvia 4 1 17 4 4 4 4 4 3 3 3 Lithuania 6 1 6 6 6 6 5 5 4 4 Luxemburg 1-5 1 1 2 2 1 1 1 2 Eliminations -1-1 -1-1 -1-1 -1-1 -1 Funds assets under management 457-2 16 468 45 422 393 351 343 368 393 Net inflow of fund management, SEKbn 1-5 -86 2 9 3 7 2 8-1 -1 Other investments, Sweden Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun Balance, SEKbn 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Retail bonds and other bonds 29-9 29 31 32 32 33 33 35 36 Discretionary asset management 231 12 231 222 22 27 212 22 21 21 Unit-linked insurance 89 1 35 88 8 74 66 53 52 58 63 Eliminations -78 1 28-77 -72-68 -61-51 -5-56 -61 Total savings and investments 1 51-1 6 1 59 1 447 1 46 1 411 1 429 1 45 1 33 1 273 Depot volumes, SEKbn Jun Ch. % Ch. % Mar Dec Sep Jun Mar Dec Sep Jun 21 Q/Q Y/Y 21 29 29 29 29 28 28 28 Private/Corporate 383 25 383 366 349 37 242 121 149 162 Institutional (Custody) 1 14 1 17 1 1 965 93 864 794 828 865 915 Eliminations -417 1 22-412 -397-367 -342-285 -289-313 -343 Total depot volumes 98 1 18 972 934 912 829 751 66 71 734 1) Excluding Swedish Nat'l Debt Office and repurchase agreements 8 6 5 4 3 2 1 7 Asset mgmt 55 Deposits from the public 1) 29 Retail bonds and other bonds
B4B4B4B4B4 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Jun-7 Sep-7 Dec-7 Mar-8 Jun-8 Sep-8 Dec-8 Mar-9 Jun-9 Sep-9 Dec-9 Mar-1 Jun-1 Other products Q2, 21 Products per private customer, Products per corporate customer, Sweden Average number of Sweden Average number of Number of customers, thousand 1 2 1 8 products/customer Number of products/customer Q4 8-4.5 customers, Q4 8-7.29 Q1 9-4.53 thousand Q1 9-7.32 Q2 9-4.54 3 Q2 9-7.33 Q3 9-4.55 Q3 9-7.34 Q4 9-4.86 25 Q4 9-7.82 Q1 1-4.88 Q1 1-7.77 Q2 1-5.1 2 Q2 1-7.88 6 15 4 1 2 5 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 >15 Q1,21 Q2,21 Number of products 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 >15 Q1,21 Q2,21 Number products Internet bank Including savings banks and partly owned banks Number of customers, thousand 3 25 3 2 75 2 5 2 25 2 1 75 1 5 1 25 1 75 5 25 Number of payments, million 7 6 5 4 3 2 1 Cards Number of cards, purchases and aquiring Including savings banks and partly owned banks Number of cards, thousand 4 3 5 3 2 5 2 1 5 1 5 Quarterly transactions, million 4 35 3 25 2 15 1 5 Number of Internet customers in Sweden Number of Internet customers in Baltic Region Payments in Sweden and Baltic Region Sweden Baltic Region Ukraine Purchases in Sweden, Baltic Region and Ukraine, million Acquiring in Sweden, Baltic Region and Ukraine, million 9
B5B5B5B5B5 Market shares, Sweden Balance 31 May 21 % 3 25 2 15 1 5 Market shares Q2, 21 % 6 5 4 3 2 1 Market shares, Estonia, Latvia, Lithuania Balance 31 May 21 Market shares, % Loans * Mortgage Deposits Private Corporate Estonia Latvia Lithuania Balance Net growth May Dec Dec Dec Dec May FY FY FY FY 21 29 28 27 26 21 29 28 27 26 Sweden Loans *, private 26 27 27 26 26 13 2 34 29 25 of which mortgage loans 28 29 29 3 3 14 22 27 3 3 Deposits, private 24 24 24 26 26 >1 28** 4** 25 3 Pensions, private (Mar. 21) 9 15 13 12 14 Mutual funds (Jun. 21) *** 24 27 27 25 26 4 16 neg. neg. 2 Loans *, corporate 18 19 19 21 22 neg. neg. neg. 18 34 of which mortgage loans 24 25 27 26 26 neg. 14 17 27 neg. Deposits, corporate 16 16 14 16 15 neg. 61 2 28 12 Pensions, corporate (Mar. 21) 4 5 5 5 6 Index linked bonds (Jun. 21) 17 22 24 27 3 neg. 2 neg. 21 31 Stock trading, turnover (Jun. 21) 5 5 4 4 4 Estonia Loans *, private 48 48 49 49 5 neg. neg. 4 48 49 of which mortgage loans 47 47 48 49 49 neg. neg. 39 48 49 Deposits, private 55 55 56 62 62 44 19 4 57 6 Pensions, private 48 51 52 52 52 neg. 48 35 53 53 Loans *, corporate 4 41 42 44 46 neg. neg. 17 36 48 Deposits, corporate 43 43 43 48 47 42 36 neg. 53 46 Latvia Loans *, private 28 27 28 27 27 neg. neg. 32 28 31 of which mortgage loans 27 27 27 28 3 neg. neg. 18 24 32 Deposits, private 23 23 24 28 29 neg. neg. neg. 18 31 Pensions, private 4 39 38 44 43 57 4 31 44 49 Loans *, corporate 23 24 26 26 29 neg. neg. 23 19 36 Deposits, corporate 9 11 11 11 14 neg. neg. neg. 3 12 Lithuania Loans *, private 26 26 26 29 3 neg. neg. 16 26 31 of which mortgage loans 25 25 25 28 3 neg. neg. 15 25 3 Deposits, private 32 32 32 36 37 neg. neg. neg. 32 32 Pensions, private 39 39 41 41 41 29 36 41 4 42 Loans *, corporate 21 22 23 25 25 neg. neg. 6 26 23 Deposits, corporate 23 21 21 21 21 53 26 neg. 2 3 Ukraine Loans *, private 3 3 3 2 neg. neg. 3 3 of which mortgage loans 3 3 3 2 neg. neg. 5 1 Deposits, private 1 1 1 1 neg. Loans *, corporate 2 2 2 2 neg. neg. 3 3 Deposits, corporate 1 1 2 2 neg. neg. 1 3 * Excluding credit institutions, Swedish Nat'l Debt Office and repurchase agreements ** Market share for Sweden deposits private adjusted for sold branches. Loans *, corporate Mortgage, private Deposits, private *** In 21 the source has been changed to MoneyMate in order to get the data on a monthly basis. In 26-29 the source is still Svensk Fondmarknad 1
BBBBBB Income statement, 5-year summary Q2, 21 Income statement, Group Jan - Jun Jan - Jun Ch. FY FY FY FY FY 21 29 % 29 28 27 26 25 Net interest income 7 822 11 46-29 2 765 21 72 19 157 15 977 15 679 Net commission income 4 677 3 884 2 8 453 8 83 9 88 8 869 7 17 Net gains and losses on financial items, fair value 1 456 2 421-4 2 731 2 25 1 581 2 481 2 37 Net insurance 293 35-4 647 452 548 264 154 Share of the profit or loss of associates 36 238 29 544 512 424 222 31 Other income 869 68 43 1 518 1 335 1 184 1 127 1 118 Non-recurring items 1) 16 156-9 124 1 382 15 257 2 731 Total income 15 439 18 658-17 34 782 36 463 32 924 29 197 29 46 Staff costs 4 578 4 624-1 9 184 9 142 8 134 7 253 6 837 Variable staff costs 22 397-45 627 1 135 1 658 1 37 1 354 Other expenses 3 589 3 733-4 7 758 7 77 6 222 5 92 5 362 Depreciation/amortisation 427 466-8 889 871 75 659 63 Non-recurring items 2) -198-198 -167 Total expenses 8 814 9 22-2 18 26 18 58 16 719 15 139 14 156 Profit before impairments 6 625 9 636-31 16 522 18 45 16 25 14 58 15 34 Impairment of intangible assets 14 1 35-99 1 35 1 43 Impairment on tangible assets 164 2 449 27 Credit impairments 3 173 13 517-77 24 641 3 156 619-25 294 Operating profit 3 274-5 26-9 873 13 819 15 586 14 263 15 1 Tax expense 1 138 155 964 2 98 3 45 3 211 2 781 Tax on non-recurring items 2) 3-23 17-28 Profit for the period 2 133-5 338-1 854 1 939 12 136 11 52 12 229 Profit for the period attributable to: Shareholders of Swedbank AB 2 13-5 37-1 511 1 887 11 996 1 88 11 879 Non-controlling interests 3 32-6 69 52 14 172 35 Statement of Comprehensive Income Jan - Jun Jan-Jun Ch. FY FY 21 29 % 29 28 Profit for the period reported via Income statement 2 133-5 338-1 854 1 939 Exchange differences on translating foreign operations -2 228-53 -1 852 3 468 Hedging of net investments in foreign operations: -Gains/losses arising during the period 1 416 185 1 312-3 419 Cash flow hedges: -Gains/losses arising during the period 176-523 -574-1 423 -Reclassification adjustments to Income statement, Net interest income 43 416-3 817 198 -Reclassification adjustments to Income statement, Net gains and losses on financial items, fair value 81 37 Share of other comprehensive income of associates -13 13 42-45 Income tax relating to components of other comprehensive income -525-24 -397 1 211 Other comprehensive income for the period, net of tax -771 95-615 -1 Total comprehensive income for the period 1 362-5 243-11 57 1 929 Total comprehensive income attributable to: Shareholders of Swedbank AB 1 337-5 284-11 138 1 885 Non-controlling interests 25 41-39 81 44 1) Non-recurring items 28 Q2-21, see page 14 for details 28 Q1, Capital Gains branch offices SEK 44m 27, Capital gains; CEK AB SEK 4m, Sparebanken 1 and Norwegian PCC shares SEK 21m 26, Capital gains; Sparebanken 1 and Norwegian PCC shares SEK 257m 25, Capital gains; Sparebanken 1 and Norwegian PCC shares SEK 51m, Entercard SEK 8m and Kundinkasso SEK 1 421m 2) See page 14 for details 11
B1B1B1B1B1B1 Key figures and Balance sheet data, 5-year summary Q2, 21 Key figures, Group Jan - Jun Jan - Jun FY FY FY FY FY 21 29 29 28 27 26 25 Return on equity, % 4.7-12.8-12.5 15.2 18.9 19.3 24.6 Return on total assets, %.23 -.58 -.58.64.79.84 1.5 Return on RWA, % transition rules.5-1.3-1.3 1.3 1.3 1.6 2.1 Credit impairment ratio, %.46 1.91 1.74.24.6 -.2.3 Total provision ratio for impaired loans, % 64 63 65 6 12 195 171 Capital adequacy ratio, % 1) 13.4 12.6 13.5 11.2 9.3 9.8 9.7 Capital adequacy ratio, %, Basel 2, 2) 17.9 15.4 17.5 14.8 12.7 Core Tier 1 capital ratio, % transition rules 1) 9.5 8. 9.2 7. 5.3 Core Tier 1 capital ratio, % Basel 2, 2) 12.7 9.8 12. 9.3 7.3 Tier 1 capital ratio, %, transition rules 1) 1.5 9.2 1.4 8.1 6.2 6.5 6.5 Tier 1 capital ratio %, Basel 2, 2) 14. 11.3 13.5 1.6 8.5 Cost/Income ratio.57.48.52.5.51.52.48 Loan/Deposit ratio, % 229 267 24 262 245 244 245 Share of wholesale funding > 1 year, % 52 46 51 37 32 34 37 Net interest margin, %.87 1.22 1.17 1.33 1.25 1.23 1.38 Risk weighted assets/total assets, % transition rules 41 44 44 51 51 54 51 Earnings per share, SEK 1.82-5.75-1.66 16.51 21.78 19.75 21.56 Cash dividend per ordinary share, SEK.. 9. 8.25 7.5 Cash dividend per preference share, SEK.. Balance sheet data Jun 3 Jun 3 Ch. Dec 31 Dec 31 Dec 31 Dec 31 Dec 31 21 29 % 29 28 27 26 25 Loans 3) 1 443 431 1 398 61 3 1 382 798 1 415 96 1 39 31 1 17 416 974 773 Deposits from the public 4) 529 48 469 336 13 54 424 58 456 458 375 4 35 338 894 Equity 91 267 81 177 12 89 974 86 462 68 323 6 277 53 869 Non-controlling interests 26 231 13 34 232 315 33 232 Shareholders' equity 91 7 8 946 12 89 67 86 23 68 8 59 974 53 637 Risk weighted assets, Basel 2 579 391 65 793-11 63 431 696 55 6 238 Risk weighted assets, transition rules 772 164 797 643-3 784 469 916 112 822 363 Risk weighted assets, Basel 1 968 726 1 29 726-6 99 225 1 51 14 891 595 726 712 616 52 1) 25-26 Basel 1, 27-21 Transition rules. Including total subscribed capital 28 Capital Adequacy ratio was 11.6, Core Tier 1 capital ratio 7.4 and Tier 1 capital ratio 8.4 2) Including total subscribed capital 28, Captial adequacy ratio was 15.2, Core Tier 1 capital ratio 9.7 and Tier 1 capital ratio 11.1 3) Loans to the public excluding Swedish Nat l Debt Office and repurchase agreements (repos), SEK 1 159m as per 21-6-3 4) Excluding repurchase agreements (repos), SEK 55m as per 21-6-3 12
B2B2B2B2B2B2 Income statement, 9-quarter summary Q2, 21 Source of income Split of commission income % % 7 5 6 45 5 4 3 2 1-1 Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Q2 1 Net interest income Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Q2 1 Net commission income Net gains/losses on financial items Asset management Payments Brokerage Lending Other Income statement, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q 21 29 29 29 29 28 28 28 Net interest income 3 799-6 4 23 4 72 5 17 5 243 5 83 5 742 5 424 5 295 Net commission income 2 395 5 2 282 2 361 2 28 2 3 1 854 2 11 2 265 2 374 Net gains/losses on financial items, fair value 89 25 647 223 87 71 1 711 1 244-19 1 4 Net insurance 173 44 12 182 16 175 13 139 15 11 Share of profit of associates 16 1 146 123 183 141 97 136 138 122 Other income 42-6 449 446 464 299 39 394 32 334 Non-recurring items 1) 16-55 23 636-48 68 95 167 Total income 7 772 1 7 667 7 982 8 142 9 234 9 424 1 346 8 238 9 433 Staff costs 2 282-1 2 296 2 319 2 241 2 289 2 335 2 34 2 223 2 268 Variable staff costs 141 78 79 23 27 191 26 262 235 37 Other expenses 1 781-1 1 88 2 168 1 857 1 895 1 838 2 4 1 679 1 74 Depreciation/amortisation 219 5 28 22 221 226 24 231 221 212 Non-recurring items 1) 2) -412-198 38-45 -16 Total expenses 4 423 1 4 391 4 3 4 526 4 43 4 619 4 875 4 313 4 43 Profit before impairments 3 349 2 3 276 3 682 3 616 4 831 4 85 5 471 3 925 5 3 Impairment of intangible assets 14 1 35 1 43 Impairment of tangible assets 128 36 352 77 8 12 27 Credit Impairments 963-56 2 21 5 3 6 121 6 672 6 845 1 633 812 423 Operating profit 2 258 1 16-1 673-2 582-1 849-3 357 2 48 3 113 4 58 Tax expense 669 43 469 7 728 34 121 614 64 926 Tax on non-recurring items 1) 2) 3 18 6 111-134 -114 9 Profit for the period 1 586 547-1 788-3 316-1 994-3 344 1 98 2 473 3 645 Profit for the period attributable to: Shareholders of Swedbank AB 1 567 536-1 84-3 337-2 12-3 358 1 915 2 468 3 64 Non-controlling interests 19 73 11 16 21 18 14-7 5 41 4 35 3 25 2 15 1 5 Statement of Comprehensive Income Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q 21 29 29 29 29 28 28 28 Profit for the period reported via Income statement 1 586 547-1 788-3 316-1 994-3 344 1 98 2 473 3 645 Exchange differences on translating foreign operations -595-64 -1 633 27-2 6-123 7 2 35 1 258 97 Hedging of net investments in foreign operations: -Gains/losses arising during the period 399-61 1 17-156 1 283 176 9-2 637-714 -245 Cash flow hedges: -Gains/losses arising during the period 337-161 69-12 -8-515 -1 154-233 -35 -Reclassification adjustments to Income statement, Net interest income 214 13 189 199 22 212 24 29-39 14 -Reclassification adjustments to Income statement, Net gains/losses on financial items, fair value -75 31 81 Share of other comprehensive income of associates -7 17-6 13 16-29 42-47 3 6 Income tax relating to components of other comprehensive income -25-9 -275-6 -367-111 87 911 281 69 Other comprehensive income for the period, net of tax 98-869 251-961 198-13 -683 556 716 Total comprehensive income for the period 1 684-322 -1 537-4 277-1 796-3 447 1 225 3 29 4 361 Total comprehensive income attributable to: Shareholders of Swedbank AB 1 667-33 -1 556-4 298-1 812-3 472 1 236 3 26 4 318 Non-controlling interests 17 8 19 21 16 25-11 3 43 1) See page 14 for details 2) The dissolvement of bonus reserves in Q4 29 should only be seen as a non-recurring when looking at Q4 isolated and not when looking at full year figures. 13
B3B3B3B3B3B3 Non-recurring items, 9-quarter Q2, 21 Non-recurring items Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 21 29 29 29 29 28 28 28 Retail Capital gain MasterCard 11 Capital gains branch offices 6 23 374 Share of profit/loss of associates VISA Sweden 322 Capital Loss Bergslagen Sparbank -3 Baltic Banking Capital gain Estonian stock exchange 15 Capital gain PKK 66 Capital gain MasterCard 13 Russia & Ukraine Capital loss EADR (Ukraine) -6 Asset Management Repayed fund management fees -6-48 Private Debt Fund compensation -88 Shared Services & Group Staffs Capital gain Aktia 24 Capital gain NCSD Holding AB 68 Capital gain SPS Reinsurance Luxemburg 95 Total income 16-55 23 636-48 68 95 167 Retail Dissolvement of bonus reserve 1) -89 Large Corporates & Institutions Dissolvement of bonus reserve 1) -295 Baltic Banking Dissolvement of bonus reserve 1) -198-185 Write-down Hansabank brand 38 38 25 Russia & Ukraine Refund VAT provision in Russia -83 Asset Management Dissolvement of bonus reserve 1) -26 Shared Services & Group Staffs Dissolvement of bonus reserve 1) -2 Total expenses -412-198 38-45 -16 Large corporates & Institutions Impairment of goodwill ZAO 5 Russia & Ukraine Impairment of goodwill Ukraine 1 3 1 43 Impairment of goodwill Russia 14 Total impairments 14 1 35 1 43 Retail Tax capital gains branch offices 2 6 99 Tax dissolvement of bonus reserve 1) 23 Tax capital loss Bergslagens Sparbank -1 Large Corporates & Institutions Tax dissolvement of bonus reserve 1) 78 Baltic Banking Tax dissolvement of bonus reserve 28 9 Tax on capital gain MasterCard 2 Asset Management Tax repayed fund mgm fees -16-134 Tax dissolvement of bonus reserve 1) 7 Shared Services & Group Staffs Withholding tax -114 Tax dissolvement of bonus reserve 1) 1 Total taxes 3 19 6 111-134 -114 9 Profit for the period 13-14 248 17 723-1 651-647 14 318 1) The dissolvement of bonus reserves in Q4 29 should only be seen as a non-recurring when looking at Q4 isolated and not when looking at full year figures. 14
B3B3B3B3B3B3 Lending Retail Deposits Large Corporates & Institutions Treasury, Trading and Capital Markets Asset Management Baltic Banking Payment, Cards Russia&Ukraine Insurance Share of P&L of associates Asset Management Other Shared Services and Group Staffs Non-recurring items Key figures, 9-quarter Q2, 21 Key figures, Group Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 21 29 29 29 29 28 28 28 Return on equity, % 7. 2.4-8.3-16.9-9.9-15.6 1.1 13.8 2.6 Return on total assets, %.33.12 -.4 -.74 -.44 -.74.44.59.86 Return on RWA, % 1).8.3 -.9-1.7-1. -1.6.9 1.2 1.8 Credit impairment ratio, %.28.64 1.44 1.75 1.87 1.93.48.23.12 Total provision ratio for impaired loans, % 64 66 65 63 63 64 6 73 91 Capital adequacy ratio, %, transition rules 2) 13.4 13.4 13.5 12.1 12.6 12.9 11.6 9.9 9.7 Capital adequacy ratio, % Basel 2, 2) 17.9 17.5 17.5 15.7 15.4 15. 15.2 12.5 12.6 Core Tier 1 capital ratio, % transition rules 2) 9.5 9.4 9.2 7.7 8. 8. 7.4 5.8 5.7 Core Tier 1 capital ratio, % Basel 2, 2) 12.7 12.3 12. 9.9 9.8 9.4 9.7 7.4 7.5 Tier 1 capital ratio, %, transition rules 2) 1.5 1.3 1.4 8.8 9.2 9.3 8.4 6.8 6.7 Tier 1 capital ratio, % Basel 2, 2) 14. 13.5 13.5 11.4 11.3 1.8 11.1 8.7 8.8 Cost/Income ratio.57.57.54.56.48.49.47.52.47 Loan/Deposit ratio, % 229 236 24 257 267 27 262 267 251 Earnings per share, SEK 1.36.46-1.83-3.57-2.16-3.59 2.9 3.81 5.56 1) RWA according to transition rules 2) Including total subscribed capital Q4 28 Income Profit before impairments 11 5 9 5 7 5 5 5 3 5 1 5-5 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Group Income ex non-recurring items Non-recurring items 5 5 4 5 3 5 2 5 1 5 5-5 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Profit before impairments and non-recurring items Non-recurring items Income SEKbn 4 3 5 3 2 5 2 1 5 1 5-5 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Profit before impairments and non-recurring items by business area SEKbn 3 2 5 2 1 5 1 5-5 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 15
B4B4B4B4B4B4 Income analysis Q2, 21 Income analysis, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q 21 29 29 29 29 28 28 28 Net interest income; 1) Net interest income, lending 2 495-4 2 591 2 852 3 71 3 187 3 443 3 496 3 41 2 9 Net interest income, deposits 1 167-3 1 21 1 94 1 93 1 227 1 391 1 83 1 762 1 678 Net interest income, other 137-41 231 756 853 829 969 443 621 717 Net interest income 3 799-6 4 23 4 72 5 17 5 243 5 83 5 742 5 424 5 295 Commission income; Payment processing 1 377 5 1 312 1 422 1 4 1 363 1 289 1 41 1 384 1 35 Asset management 1 2 2 1 3 968 884 798 692 727 864 933 Brokerage 18-3 185 215 152 151 134 144 171 21 Lending 153 14 134 138 143 152 13 129 194 199 Corporate Finance 111 82 61 95 52 55 19 58 22 177 Insurance 129-2 131 116 111 11 94 16 18 115 Other securities 61 61 38 3 37 26 5 31 53 2 Other commissions receivable 298 298 282 36 36 314 328 292 281 Commission income, total 3 329 5 3 162 3 266 3 85 2 952 2 722 2 924 3 88 3 231 Commission expenses; Payment processing -547 3-533 -572-51 -548-456 -512-485 -466 Securities -124 18-15 -82-69 -53-144 -123-17 -13 Brokerage -2-2 -5-7 -6-6 -3-5 -13 Insurance -66 38-48 -4-49 -36-27 -47-39 -44 Other commissions payable -195 2-192 -26-242 -279-235 -228-187 -24 Commission expenses, total -934 6-88 -95-877 -922-868 -913-823 -857 Net commission income, total 2 395 5 2 282 2 361 2 28 2 3 1 854 2 11 2 265 2 374 Financial instruments for trading 742 18 63 115 369 712 1 691 55 151 855 of which stock related 317-23 41 396 198 461 14 82-99 76 of which interest rate related 69-157 -514-19 126 1 193 272-437 287 of which fx related 357-9 392 26 262 23 231 177 688 461 of which other -1-93 -15-27 18-15 127 19-1 31 Financial instruments intended to hold until maturity 67 17 18-282 -2 2 694-26 185 Of which change in value open interest rate exposure Swedbank Mortgage -5 1 6-327 2 28 763-172 29 Net gains and losses on financial items at fair value, total 89 25 647 223 87 71 1 711 1 244-19 1 4 Net insurance 173 44 12 182 16 175 13 139 15 11 Share of profit/loss of associates; Färs & Frosta Sparbank 8 6 8 8 12 27 18 23 3 17 Swedbank Sjuhärad 25 75 14 18 24 32 2 1 37 21 Other jointly owned banks in Sweden 13 1 7 14 3 16 13 18 1 BGC-Holding 3-58 8 2 2-2 1 4 4 2 EnterCard Holding 15-4 11 79 124 75 51 79 53 43 NCSD Holding 16 23 Other companies 4-14 5 1 7 6 9 7 7 6 Profit/loss of associates, total 16 1 146 123 183 141 97 136 138 122 Other income; Real estate income 6-2 6 4 3 4 3 4 3 3 IT/administrative services to savings banks 216 7 23 218 217 21 185 197 189 218 Other 198-18 24 224 244 94 121 193 128 113 Other income, total 42-6 449 446 464 299 39 394 32 334 Non-recurring items 16-55 23 636-48 68 95 167 Total income 7 772 1 7 667 7 982 8 142 9 234 9 424 1 346 8 238 9 433 of which Baltic Banking 1 517 3 1 477 1 631 1 795 1 822 2 125 2 182 2 265 2 216 of which Russia & Ukraine 181-3 257 46 214 542 621 787 455 517 1) NII Lending is defined as customer interest income minus internal funds transfer price. NII deposits is defined as internal funds transfer price minus customer interest expense and deposits guarantee fees. Methods for calculating internal transfer prices are based on matched funding principles but have been changed over time, primarily on floating rate products, making historic time series not fully comparable. 16
B5B5B5B5B5B5 Net Interest Income Analysis, Group Q2, 21 Net interest income Analysis, Group Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 % 21 29 29 29 29 28 28 28 Interest income Loans to credit institutions 189 17 162 161 1 87 336 965 1 564 1 742 Loans to the public 8 894-2 9 53 9 729 1 653 11 96 14 655 18 778 17 537 16 452 Interest-bearing securities 199-43 348 598 544 63 72 576 27 636 Other 34-41 58 45 45 33 35 15 12 12 Total Interest income 9 316-3 9 621 1 533 11 342 12 629 15 728 2 334 19 383 18 842 Interest expenses Amounts owed to credit institutions -343 3-263 -358-361 -749-1 739-2 847-1 538-1 882 Deposits and borrowings from the public -934-16 -1 11-1 195-1 259-1 541-2 346-3 641-4 335-3 991 of which deposits guarantee fees -11-4 -15-16 -16-11 -14-94 -89-127 Debt securities in issue -5 286-3 -5 444-5 285-5 392-4 61-6 478-6 683-7 322-6 923 of which state guarantee fees -4-8 -437-55 -534-465 -298-56 Subordinated liabilities -33-19 -45-436 -444-531 -559-611 -563-51 Other -74-3 -76-34 -27-22 -3-22 -14-12 of which stability fee -58 2-57 -29-195 Total interest expenses -6 967-5 -7 298-7 38-7 663-7 444-11 125-13 84-13 772-13 39 Derivatives, income 1 381-4 2 33 1 758 1 773 1 282 1 354 555 523 453 Derivatives, expenses 69-63 -281-435 -1 224-154 -1 343-71 -691 Derivatives, net interest income 1 45-15 1 7 1 477 1 338 58 1 2-788 -187-238 Net interest income 3 799-6 4 23 4 72 5 17 5 243 5 83 5 742 5 424 5 295 Average balances Loans to credit institutions 192 185 48 129 443 135 56 123 768 156 782 139 648 117 457 168 63 188 76 Loans to the public 1 224 639-2 1 243 618 1 253 91 1 254 765 1 274 393 1 297 596 1 279 14 1 226 128 1 189 937 Interest-bearing securities 161 419-7 173 54 144 151 14 7 115 887 116 583 66 369 18 924 43 995 Interest-bearing assets 1 578 243 2 1 546 115 1 533 18 1 518 54 1 547 62 1 553 827 1 462 93 1 413 682 1 422 8 Derivatives 86 288 17 74 37 79 94 87 871 11 43 138 297 113 58 57 612 47 279 Other assets 16 212-3 165 926 198 461 174 166 13 745 136 835 191 67 141 283 145 68 Total assets 1 824 743 2 1 786 78 1 811 59 1 78 577 1 778 85 1 828 959 1 767 595 1 612 577 1 614 355 Amounts owed to credit institutions 258 362 8 238 971 263 734 288 335 335 67 354 11 293 855 177 613 177 946 Deposits and borrowings from the public 518 95 1 515 787 491 46 47 84 471 145 496 878 514 263 488 187 472 522 Debt securities in issue 711 193 77 691 689 588 663 828 641 18 616 36 588 676 67 428 687 97 Subordinated liabilities 32 956-1 36 588 38 639 41 256 44 565 46 754 43 114 39 765 37 55 Interest-bearing liabilities 1 521 416 1 1 499 37 1 483 367 1 464 223 1 492 56 1 514 93 1 439 98 1 375 993 1 374 62 Derivatives 78 286 9 71 938 8 868 9 33 95 64 119 465 95 38 49 77 51 367 Other liabilities 134 995 8 125 58 16 144 147 565 19 761 19 15 156 749 115 373 118 56 Total liabilities 1 734 697 2 1 696 483 1 724 379 1 71 821 1 697 385 1 742 663 1 691 695 1 541 136 1 544 493 Equity 9 46 1 89 595 87 13 78 756 81 465 86 296 75 9 71 441 69 862 Total liabilities and equity 1 824 743 2 1 786 78 1 811 59 1 78 577 1 778 85 1 828 959 1 767 595 1 612 577 1 614 355 Average interest rates, % Loans to credit institutions.39-21.5.48.32.22.96 3.29 3.71 3.7 Loans to the public 2.91 2.91 3.1 3.4 3.74 4.52 5.87 5.72 5.53 Interest-bearing securities.49-39.8 1.66 1.55 2.8 2.41 3.47 5.71 5.78 Interest-bearing assets 2.35-5 2.47 2.74 2.98 3.26 4.4 5.56 5.48 5.3 Amounts owed to credit institutions.53 21.44.54.5.89 1.96 3.88 3.46 4.23 Deposits and borrowings from the public.72-16.86.97 1.7 1.31 1.89 2.83 3.55 3.38 Debt securities in issue 2.97-3 3.8 3.7 3.25 2.87 4.2 4.54 4.37 4.3 Subordinated liabilities 4.1-1 4.43 4.51 4.3 4.77 4.78 5.67 5.66 5.41 Interest-bearing liabilities 1.81-6 1.93 1.96 2.4 1.99 2.94 3.83 4. 3.87 Net interest margin.83-8.9 1.4 1.13 1.18 1.27 1.3 1.35 1.31 Interest-bearing securities are reported net less sold, not held, securities. Interest income on impaired loans is not accrued. 17
B9B9B9B9B9B9 Expense analysis Q2, 21 Expense development Quarterly expenses excl non-recurring items 6 5 6 5 5 5 4 5 4 3 5 3 2 5 2 1 5 1 5 Q2-8 Q3-8 Baltic Banking Q4- Q1-8 9 Total expenses Q2-9 Large Corp. & Inst Expense analysis, Group Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q 21 29 29 29 29 28 28 28 Staff costs Salaries and other remunerations 1 6 4 1 545 1 537 1 631 1 656 1 75 1 649 1 61 1 731 Pension costs 267 4 257 218 261 247 259 233 247 246 Social Insurance charges 469-4 489 56 486 487 484 468 496 522 Allocation to profit-sharing fund 2 133 46 46 Training costs 23 35 17 28 19 27 26 43 28 45 Other staff costs 64-4 67 52 51 61 67 76 4 48 Staff costs, total 2 423 2 2 375 2 342 2 448 2 48 2 541 2 62 2 458 2 638 of which variable staff costs 2) 141 78 79 23 27 191 26 262 235 37 of which redundancy cost 73 79 41 52 26 19 9 17 7 16 Other expenses Expenses for premises 347-4 361 48 364 392 47 393 357 337 IT expenses 41 4 396 489 445 448 436 442 414 396 Consulting and outside services 435 6 411 536 392 47 319 366 261 293 Telecommunications and postage 63-16 75 73 81 79 87 11 88 69 Marketing 88 19 74 136 82 129 85 142 94 134 Security transports, alarm systems 73-32 18 12 11 117 133 114 123 143 Expenses repossessed assets 59 99 3 31 37 Other 2) 36-13 353 375 347 323 371 446 342 368 Depreciation/amortisation 2) 219 5 28 22 22 226 24 231 221 212 Total other expenses 2-1 2 16 2 37 2 78 2 121 2 78 2 235 1 9 1 952 Non-recurring items 1) -412-198 38-45 -16 Total expenses 4 423 1 4 391 4 3 4 526 4 43 4 619 4 875 4 313 4 43 of which Baltic Banking 678-7 729 876 893 619 947 1 43 1 16 841 of which Russia & Ukraine 228-1 23 38 274 39 321 412 224 3 1) See page 14 for details. 2) Excluding non-recurring items, specified on page 14 Q3- Q4-9 9 Retail Q1-1 Russia & Ukraine Q2-1 5 5 4 5 3 5 2 5 1 5 5-5 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Other expenses Staff costs excl. variable staff costs Variable staff costs Q1-1 Q2-1 18
BBB Employees Q2, 21 Number of employees Number of employees by business area 25 9 8 2 7 6 15 5 1 5 4 3 2 1 Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Q2/1 Retail Large Corp. & Baltic Banking Inst. Russia & Ukraine Asset Management Ektornet Shared Services & Group Staffs Q2/8 Q3/8 Q4/8 Q1/9 Q2/9 Q3/9 Q4/9 Q1/1 Q2/1 Number of employees Q2 Ch. % Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 21 Q/Q 21 29 29 29 29 28 28 28 Retail 5 724-2 5 833 5 894 5 957 5 991 6 7 6 162 6 269 6 216 Sweden 672 1 664 661 654 652 649 644 616 611 Baltic Region 139-1 14 142 135 139 127 128 133 14 Norway 268 2 262 262 269 267 267 258 266 273 Other 1) 97 5 92 82 8 77 81 85 89 77 Large Corporate & Institutions 1 176 2 1 158 1 147 1 138 1 135 1 124 1 115 1 14 1 11 Estonia 2 63 2 61 2 19 2 211 2 33 2 367 2 434 2 527 2 781 Latvia 1 67-2 1 648 1 684 1 856 2 25 2 113 2 173 2 391 2 472 Lithuania 2 131-3 2 189 2 312 2 429 2 637 2 76 2 85 2 931 3 22 Baltic Banking 5 81-2 5 898 6 15 6 496 6 965 7 24 7 457 7 849 8 275 Russia 422-25 564 567 575 639 644 631 576 474 Ukraine 1 652-2 2 77 2 88 3 498 3 623 3 659 3 87 3 548 3 481 Other 11-35 17 25 29 3 35 32 24 18 Russia & Ukraine 2 85-22 2 658 3 472 4 12 4 292 4 338 4 533 4 148 3 973 Sweden 266 1 263 269 258 268 261 234 23 231 Baltic Region 23 1 21 22 23 28 36 45 52 56 Asset Management 289 2 284 291 281 296 297 279 282 287 Ektornet 123 19 13 39 Sweden 1 7 1 1 689 1 677 1 641 1 641 1 613 1 64 1 579 1 591 Baltic Region 631-1 64 652 657 666 673 698 759 772 Shared Services and Group Staffs 2 331 2 329 2 329 2 298 2 37 2 286 2 32 2 338 2 363 Total number of employees 17 529-4 18 263 19 277 2 272 2 986 21 355 21 848 21 99 22 215 1) Mainly Denmark, Finland, USA and China Employee turnover, % Jun Mar Dec Sep Jun Mar Dec Sep 21 21 29 29 29 29 28 28 Retail 7.6 5.5 6.7 7.8 8.2 6.6 8.2 9.6 Large Corporate & Institutions 3.8 3.1 8.2 7.3 7. 6.8 15.8 9.5 Baltic Banking 8.3 12.6 16. 18.2 13.5 15.3 18.7 15.3 Russia & Ukraine 9.4 54.8 26. 15.8 11.2 1.2 28.6 3.4 Asset Management 5. 6.7 3.4 6. 3.2 1.1 11.1 11.7 Ektornet. Shared Services and Group Staffs 6.9 6.1 4.5 5.1 6.2 4.4 5. 6.1 Total employee turnover, % 7.9 17. 13.9 13.2 1.6 1.5 16.1 15.3 Number of permanent employees that left the company during period divided by permanent employees at start of year. YTD number of permanent employees that left the company is recalculated to yearly figures. 19
B1B1B1B1 Customer satisfaction index Q2, 21 Customer satisfaction index, private 9 8 7 6 5 4 3 2 1 Sweden Estonia Latvia Lithuania 24 25 26 27 28 29 Customer satisfaction index 1) 29 28 27 26 25 24 Sweden Share of satisfied private customers 7 71 7 71 69 67 Share of satisfied corporate customers 65 71 71 68 67 67 Estonia Index private customers 5.6 8.2 8.2 8.5 8.5 8.3 Index corporate customers 6. 8.2 8.4 8.1 8.1 8.2 Latvia Index private customers 5.2 7.7 7.8 6.6 6.6 6.6 Index corporate customers 4.9 9. 9. 6.5 6.3 6.3 Lithuania Index private customers 5 8 84 83 82 83 Index corporate customers 51 87 89 89 82 8 1) Sweden and Lithuania have a customer satisfaction scale of 1 to 1. Estonia and Latvia have a scale of 1 to 1. Customer satisfaction index 29 is based on TRIM index in the Baltic countries and on SKI in Sweden. 2
B2B2B2B2 Exchange rates and impact from exchange rate fluctuations Q2, 21 Exchange rates Jun Mar Dec Sep Jun Mar Dec Sep Jun 21 21 29 29 29 29 28 28 28 SEK/EUR, average rate 9.815 9.989 1.615 1.686 1.876 1.968 9.627 9.44 9.43 SEK/EUR, closing day rate 9.524 9.745 1.283 1.225 1.863 1.945 1.935 9.782 9.478 SEK/EEK, average rate.627.638.678.683.695.71.615.63.61 SEK/EEK, closing day rate.69.623.657.654.694.7.699.625.66 SEK/UAH, average rate.924.9.953.976 1.22 1.37 1.255 1.275 1.244 SEK/UAH, closing day rate.974.94.893.848.998 1.22 1.6 1.359 1.315 SEK/RUB, average rate.245.241.241.241.247.247.264.258.256 SEK/RUB, closing day rate.248.245.237.233.248.243.263.27.256 SEK/USD, average rate 7.382 7.222 7.627 7.798 8.84 8.32 6.572 6.185 6.123 SEK/USD, closing day rate 7.751 7.26 7.191 7.3 7.747 8.225 7.72 6.898 6.6 UAH/USD, closing day rate 7.954 7.97 8.5 8.26 7.765 8. 7.8 5.7 4.533 RUB/USD, closing day rate 31.21 29.44 3.35 3.64 31.165 33.954 3.525 25.632 23.444 Volumes, SEKbn Retail Large Corp. & Inst. Baltic Banking Russian Banking Ukrainian Banking Asset Manage. Other Group Loans to the public excluding Swedish Nat'l Debt Office and repurchase agreements Balance, 2912 828 176 169 1 9 1 192 Ordinary change 7.8-13.9-12.1 -.1 -.8. -19. Exchange rate fluctuations -.2-11.6-1.4.6-12.6 Market valuation -.8 -.8 Balance, 216 835 162 145 8 9 1 159 Balance, 213 828 168 154 9 9 1 168 Ordinary change 7. -6.8-4.9.6 -.8. -4.9 Exchange rate fluctuations. 1. -3.4-1.6.6. -3.3 Market valuation -.4 -.4 Balance, 216 835 162 145 8 9 1 159 Deposits from the public excluding Swedish Nat'l Debt Office and repurchase agreements Balance, 2912 312 75 13 4 3 497 Ordinary change 7.9 7.4.8.4 -.5. 16. Exchange rate fluctuations. -7.7 -.3.3-7.7 Balance, 216 32 82 96 4 3 55 Balance, 213 39 84 97 4 2 496 Ordinary change 11.7-1.9 1.8... 11.6 Exchange rate fluctuations.. -2.2 -.3.2. -2.3 Balance, 216 32 82 96 4 3 55 Risk weighted assets, Basel 2 Balance, 2912 224 184 165 11 12 2 4 63 Ordinary change -5.8-5.5-1.9 -.8-1.4.8 1.1-13.6 Exchange rate fluctuations. -.5-11.6.5 1.1. -1.5 Balance, 216 218 178 152 11 12 3 5 579 Balance, 213 22 185 16 12 12 3 4 596 Ordinary change -2.6-6.5-5.1 -.6 -.6 -.1 1.4-14.2 Exchange rate fluctuations..2-3.4.2.9. -2.1 Balance, 216 218 178 152 11 12 3 5 579 Impaired loans, gross Balance, 2912 2. 1.1 26.6 2.2 8.2.. 4.1 Ordinary change -.2. 3..2.8.. 3.8 Exchange rate fluctuations.. -2.2.1.8. -1.2 Balance, 216 1.9 1.2 27.3 2.6 9.8.. 42.7 Balance, 213 1.6 1.2 26.7 2.4 8.4.. 4.3 Ordinary change.2. 1.2.1.7.. 2.3 Exchange rate fluctuations.. -.6..7..1 Balance, 216 1.9 1.2 27.3 2.6 9.8.. 42.7 21
B3B3B3B3 Impact from exchange rate fluctuations, Income statement Q2, 21 Income statement, Retail Large Corp. & Inst. Baltic Banking Russian Banking Ukrainian Banking Asset Manage. Other Group Income Jun 29, YTD 9 56 4 986 3 947 473 691 66-561 18 658 Jun 21, YTD 7 917 3 25 2 994 167 272 794 9 15 439 Total change -1 139-1 781-953 -36-419 728 651-3 219 of which due to exchange rate fluctuations -28-333 -3-3 -4-36 -434 21, Q1 3 912 1 63 1 477 111 146 45-14 7 667 21, Q2 4 5 1 575 1 517 56 126 389 14 7 772 Total change 93-55 4-55 -2-16 118 15 of which due to exchange rate fluctuations -7-63 1 7-1 -1-73 Expenses Jun 29, YTD 4 53 1 541 1 566 248 281 388 468 9 22 Jun 21, YTD 4 554 1 513 1 47 22 22 49 527 8 814 Total change 24-28 -159-46 -79 21 59-28 of which due to exchange rate fluctuations -1-149 -2-23 -2-33 -219 21, Q1 2 25 733 729 13 16 197 273 4 391 21, Q2 2 34 78 678 99 96 212 254 4 423 Total change 54 47-51 -4-1 15-19 32 of which due to exchange rate fluctuations -3-28 3 4-4 -27 Credit impairments, net Jun 29, YTD 84 45 8 22 187 3 915 4 13 517 Jun 21, YTD 136-8 3 199-44 -136 26 3 173 Total change -668-413 -5 3-231 -4 51 22-1 344 of which due to exchange rate fluctuations -355-1 -356 21, Q1 58 86 2 13-15 -26 4 2 21 21, Q2 78-94 1 96-29 -11 22 963 Total change 2-18 -1 7-14 -84 18-1 247 of which due to exchange rate fluctuations -34-13 -47 Profit for the period Jun 29, YTD 2 862 2 2-5 1 29-4 447-231 -773-5 37 Jun 21, YTD 2 313 1 26-1 53-19 199 297-417 2 13 Total change -549-94 3 48-48 4 646 528 356 7 473 of which due to exchange rate fluctuations -18 158-1 -5-2 -3 129 21, Q1 1 19 615-1 222-16 6 158-249 536 21, Q2 1 123 645-38 -3 139 139-168 1 567 Total change -67 3 914 13 79-19 81 1 31 of which due to exchange rate fluctuations -4 5-2 17-1 -6 9 22