Income statement, 5-year summary Q1, 2013

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1 00B 0B, 5-year summary Financial information, Group, Group FY FY FY FY FY SEKm ) ) Net interest income 1) Net commission income 1) Net gains and losses on financial items, fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Other expenses 1) Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment on tangible assets Credit Non-recurring impairments items Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Statement of Comprehensive Income FY FY FY FY FY SEKm Profit for the period reported via Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans Share related to associates -43 Income tax 374 Total Exchange differences on translating foreign operations: Gains/losses arising during the period Reclassification adjustments to, Net gains and losses on financial items, fair value Hedging of net investments in foreign operations: Gains/losses arising during the period Cash flow hedges: Gains/losses arising during the period Reclassification adjustments to, Net interest income Net gains and losses on financial items, fair value 37 Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests ) 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 , all compensation is reported as commission expense. 2) From 2012, trading related net interest income is reported as net gains and losses on financial items at fair value. For 2012, SEK 523m has been moved from net interest income to net gains and losses on financial items at fair value. As of 2012, the changes in reporting of benefit pension plans according according to IAS 19 have affected staff costs. For 2012, staff costs have increased by SEK 51m and tax expense by SEK 83m. Also from 2012, the Russian and Ukrainian operations are reported as discontinued operations. No restatements for above have been done for the years

2 22B 2B, 9-quarter summary Financial information, Group, Group Net interest income Net commission income Net gains/losses on financial items, fair value Net insurance Share of profit or loss of associates Other income Total income Staff costs Variable staff costs Other expenses Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit Impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Statement of comprehensive income Profit for the period reported via Items that will not be reclassified to the income statement Remeasurements of defined benefit pension plans Share related to associates Income tax Total Exchange differences on translating foreign operations: Gains/losses arising during the period Reclassification adjustments to income statement, Net gains/losses on financial items at fair value 1-1 Hedging of net investments in foreign operations: Gains/losses arising during the period Cash flow hedges: Gains/losses arising during the period Reclassification adjustments to, Net interest income Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the period, net of tax Total comprehensive income for the period Total comprehensive income attributable to: Shareholders of Swedbank AB Non-controlling interests

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

4 99B 9B Expense analysis Financial information, Group Expense analysis, Group Staff costs Salaries and other remunerations Variable staff costs 1) Pension costs 1) Social insurance charges 1) Training costs Other staff costs Total staff costs Other expenses Premises and rents IT expenses Telecommunications and postage Advertising, PR and marketing Consultants Compensation to Savings Banks Other purchased services Security transport and alarm systems Supplies Travel Entertainment Repair/maintenance of inventories Other expenses Total other expenses Depreciation/amortisation Total expenses ) Social insurance charges and pension costs related to variable pay are presented as variable staff costs. 12

5 Retail Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-Life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests

6 Retail SEKbn Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Common Equity Tier 1 capital, period end Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 15

7 Large Corporates & Institutions Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets 4 17 Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests 16

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

9 Baltic Banking Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests 18

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

11 Estonia Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets 2 13 Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 20

12 Latvia Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 21

13 Lithuania Net interest income Payment processing Service concepts Asset management Life insurance 5-5 Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants 1 1 Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 22

14 Other Baltic Banking Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets -1 Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) 1 Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel 2 Commitments Full-time employees ) Excluding intra-group transactions 23

15 Group Functions & Other Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services 1) Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax 2) Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests 1-3 1) As of Q Group Treasury allocates its administrative expenses to the business areas. The accumulated expense of SEK 167m was allocated in Q ) As from 2012, the Russian and Ukrainian operations are reported as discontinued operations. 24

16 Group Functions & Other SEKbn Balance sheet (Incl intra-group transactions) Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Mutual funds & insurance Index linked bonds Discretionary asset management Goodwill Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 25

17 Group Products Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees

18 Group Treasury Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions -1 2 Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates 1 Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses 1 Consultants Other expenses of which internally sold and bought services 2) Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets -1 Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Balance sheet (Incl intra-group transactions), SEKbn Assets Cash and balances with central banks Loans to credit institutions Loans to the public Bonds and other interest-bearing securities Financial assets for which customers bear inv. risk Derivatives Other assets Total assets Liabilities and equity Amounts owed to credit institutions Deposits and borrowings from the public Debt securities in issue Financial liabilities for which customers bear inv. risk Derivatives Other liabilities Subordinated liabilities Allocated equity Total liabilities and equity Return on allocated equity, % Cost/Income ratio Loan/Deposit ratio, % Loans to the public excluding repos & SNDO 1) Deposits from the public excluding repos & SNDO 1) Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 2) As of Q Group Treasury allocates its administrative expenses to the business areas. The accumulated expense of SEK 223m was allocated in

19 Ektornet Net interest income Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests 1-3 Return on allocated equity, % Cost/Income ratio Allocated equity, average, SEKm Risk-weighted assets, Basel Full-time employees

20 Other Group Functions Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance 1 1 Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates 1 Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the period from continuing operations Profit for the period from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Return on allocated equity, % Cost/Income ratio Credit impairment ratio, % Loan/Deposit ratio, % Allocated equity, average, SEKm Risk-weighted assets, Basel Commitments Full-time employees ) Excluding intra-group transactions 32

21 Eliminations Net interest income Payment processing Service concepts Asset management Life insurance Brokerage Other securities Lending and guarantees Deposits Corporate finance Real estate brokerage Non-life insurance Other commissions Net commission income Net gains and losses on financial items at fair value Net insurance Share of the profit or loss of associates Other income Total income Staff costs Variable staff costs Expenses for premises IT expenses Consultants Other expenses of which internally sold and bought services Depreciation/amortisation Total expenses Profit before impairments Impairment of intangible assets Impairment of tangible assets Credit impairments Operating profit Tax expense Profit for the year from continuing operations Profit for the year from discontinued operations, after tax Profit for the period including non-controlling interest Shareholders of Swedbank AB Non-controlling interests Index linked bonds

22 11B 1B, 5-years, Group FY FY FY FY FY Profit Return on equity, % Return on equity continuing operations, % 15.6 Return on total assets, % Cost/Income ratio Net interest margin, % 3) Business Volumes SEKbn Loans to the public excl. repos & SNDO Deposits to the public excluding repos & SNDO Loan/Deposit ratio, % Asset quality Credit impairment ratio, % Total provision ratio for impaired loans, % Share of impaired loans gross, % Capital Adequacy Common Equity Tier 1 ratio, %, Basel 3 1) Common Equity Tier 1 ratio, %, Basel Risk weighted assets, Basel 3 1) Risk weighted assets, Basel Risk weighted assets, transition rules Risk weighted assets, Basel Risk weighted assets/total assets, %, Basel 3 1) Risk weighted assets/total assets, %, Basel Liquidity & Funding Liquidity coverage ratio (LCR) Net stable funding ratio (NSFR) Share of wholesale funding > 1 year, % Share data Earnings per share before dilution, SEK 2) Earnings per share before dilution continuing operations, SEK Earnings per share after dilution, SEK 2) Earnings per share after dilution continuing operations, SEK Cash dividend per ordinary share, SEK Cash dividend per preference share, SEK Equity Shareholders Equity, average SEKm ) Estimates based on Swedbank's current understanding of future regulations. 2) When calculating earnings per share the preference share dividend is deducted from profit in the period the dividend is declared. 3) Net interest margin before trading interest are deducted 71

23 11B 1B, 9 quarters, Group Profit Return on equity, % Return on equity continuing operations, % Return on total assets, % Cost/Income ratio Net interest margin, % 3) Business Volumes SEKbn Loans to the public excl. repos & SNDO Deposits to the public excluding repos & SNDO Loan/Deposit ratio, % Asset quality Credit impairment ratio, % Total provision ratio for impaired loans, % Share of impaired loans gross, % Capital Adequacy Common Equity Tier 1 ratio, %, Basel 3 1) Common Equity Tier 1 ratio, %, Basel Risk weighted assets, Basel 3 1) Risk weighted assets, Basel Risk weighted assets, transition rules Risk weighted assets, Basel Liquidity & Funding Liquidity coverage ratio (LCR) Net stable funding ratio (NSFR) Share data Earnings per share before dilution, SEK 2) Earnings per share before dilution continuing operations, SEK Earnings per share after dilution, SEK 2) Earnings per share after dilution continuing operations, SEK Equity Shareholders Equity, average SEKm ) Estimates based on Swedbank's current understanding of future regulations. 2) When calculating earnings per share the preference share dividend is deducted from profit in the period the dividend is declared. 3) Net interest margin before trading interest are deducted

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