Energies andnergies in Sweden - A Strategic Perspective

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1 Capital market day Stockholm, Sweden November 30, 2001 FöreningsSparbanken Birgitta Johansson-Hedberg President and CEO

2 Stability and growth opportunities in a turbulent environment

3 3 Our strategic approach Branches are the hub of our operations Focus on customer satisfaction Stable operating results Uncertain times require development and growth in controlled forms

4 4 Largest branch network of any Swedish bank Unique alliances and cooperations A strong brand with clearly defined values Competetive products and services with strong brands such as Robur, Spintab and Swedbank Markets Qualified staff Our platform

Competetive products and services with strong brands such as

5 One of the leading banks inte the 5 Nordic and Baltic regions Nearly ten million customers Hansapank acquires LTB million new customers 16,000 employees (889) branches 332 (296) in-store banks (1 113) ATM s Telephone bank -2,2 (2,0) million customers Internetbank -1,8 (1,0) million customers post offices rural mailmen (Figures in paranthesis refer to Sweden)

5 million new customers 16,000 employees 2 203 (889) branches 332 (296) in-store banks 2 619 (1

6 Profit and loss account 6 SEK M Jan-Sep 2001 Jan-Sep 2000 Change Net interest income * 11,201 10, % Net commissions 4,586 5,011 8 % Net profit on financial operations 962 1, % Other income 892 1, % Total income 17,641 18,146 3 % Staff costs 4,531 4,188 8 % Allocation to profit-sharing funds Other expenses 5,457 5,179 5 % Total expenses 10,326 9,452 9 % Profit before loan losses 7,315 8, % Loan losses Share of profit of associated companies % Operating profit 6,362 8, % Taxes, etc 1,751 2, % Minority interest % Profit for the period 4,068 5, % * of which deposit guarantee fee

expenses 5,457 5,179 5 % Total expenses 10,326 9,452 9 % Profit before loan losses 7,315 8,694 16 % Loan losses 878 880 Share of profit of associated companies 75 190

7 Profit and loss account Excl. nonrecurring items * 7 SEK M Jan-Sep 2001 Jan-Sep 2000 Change Net interest income ** 11,201 10, % Net commissions 4,586 5,011 8 % Net profit on financial operations 962 1, % Other income % Total income 17,641 17,244 2 % Staff costs 4,528 4,448 2 % Allocation to profit-sharing funds Other expenses 5,310 5,179 3 % Total expenses 10,176 9,712 5 % Profit before loan losses 7,465 7,532 1 % Loan losses Share of profit of associated companies % Operating profit 6,512 6,842 5 % ** of which deposit guarantee fee * Capital gains, surplus pension insurance refund from Alecta (formerly SPP), VAT recovery, merger costs

1,299 26 % Other income 892 839 6 % Total income 17,641 17,244 2 % Staff costs 4,528 4,448 2 % Allocation to profit-sharing funds 338 85 Other expenses 5,310 5,179 3 % Total

8 8 Worries in the global economy Both 2001 and 2002 weak years for global economy Weak economy and major imbalances in Japan Milder economic slowdown in Europe, but waiting for an upturn in U.S. Sweden is dependent on stronger U.S. economy

in Japan Milder economic slowdown in Europe, but waiting

9 Business approach 9

10 10 A major potential for increased selling - thanks to the bank s large customer base, complete product range and widespread distribution network

11 Large customer base 11 Private individuals FSPA 4.1 million customers Jointly owned 0.4 million customers Independent 1.2 million customers Hansabank 2.4 million customers Municipalities (289)/County councils (21) FSPA 216 municipalities * Jointly owned 20 municipalities Independent 93 municipalities FSPA 21 county councils FöreningsSparbanken Small/mid-size companies FSPA 227,000 companies Jointly owned 25,000 companies Independent 90,000 companies FIH 5,000 companies Hansabank 128,000 companies Large companies Nationwide organizations Union, cooperative and religious organizations * Several municipalities are customers of both FSPA and jointly owned or independent savings banks

councils FöreningsSparbanken Small/mid-size companies FSPA 227,000 companies Jointly owned 25,000 companies Independent 90,000 companies FIH 5,000 companies Hansabank

12 Complete product range strong 12 market position Sweden Savings and investments 1 st household deposits 1 st mutual funds 2 nd fund-allocated insurance, (new policies) 1 st individual pension savings 2-6 th stock trading 1 st premium pension savings Salaries and payments 1 st direct salary deposits 1-2 nd giro payments 1 st card clearing Meeting places 1 st debit cards 1 st branches 1 st Internet banking 1 st telephone banking 1 st ATM s Housing 1-2 nd mortgage loans 1-2 nd real estate brokerage Corporate market % deposits lending installment financing and leasing

salary deposits 1-2 nd giro payments 1 st card clearing Meeting places 1 st debit cards 1 st branches 1 st Internet banking 1 st telephone

13 13 Complete product range strong market position Estonia Savings and investments 1 st household deposits 1 st mutual funds 1 st fund-allocated insurance, (new policies) 1 st individual pension savings 1 st stock trading Meeting places 1 st branches 1 st internet banking 1 st telephone banking 1 st ATM s Salaries and payments 1 st direct salary deposits 1 st debit cards Housing 1 st mortgage loans Corporate market % deposits lending installment financing and leasing

1 st branches 1 st internet banking 1 st telephone banking 1 st ATM s Salaries and payments 1 st direct salary

14 14 Our strategic base 7-point program has guided the Group s work since 2000 Multispecialist organization - our objective is to be the leader in the areas in which we are active Improvement program from autumn 2000 is continuing and will ensure our long-term development

the leader in the areas in which we are active Improvement program

15 Coordinate the bank s sales 15 channels in a single business area What have we accomplished? New organizational unit Coordination of Internet, telephone and branches Professional roles and competence profiles established Clarification of business systems Implementation of new concept for asset management under way What are we going to do? Better prepared for worrisome times Focus on customer satisfaction Higher level of activity Differentiated customer offerings Coordinated market communication Improved local presence

Clarification of business systems Implementation of new concept for asset management under way What are we going to do?

16 An open value chain 16 What have we accomplished? What are we going to do? Third-party funds via FöreningsSparbanken - 24 funds via seven international fund managers Offer third-party products that are desirable in terms of customer demand or profitability and take into account the alliance with the savings banks

fund managers Offer third-party products that are desirable in terms of

17 17 Improve operational efficiency What have we accomplished? What are we going to do? Action program in each business area followed up at Group level Project Administration 80/20 - nearly 80 routines have been eliminated Reduce costs Project central functions Cost efficiency is too low - the Group s C/I ratio exceeds the target of 0.50

Administration 80/20 - nearly 80 routines have been eliminated Reduce costs Project

18 18 Building competence What have we accomplished? Evaluation of professional roles Certification of professional roles in Retail and IT New leadership training program Enhanced human capital Pilot test of individual salary reviews What are we going to do? More effective competence development Implement professional roles Bonus system based on customer satisfaction Human capital in line with the best ever in local banks

training program Enhanced human capital Pilot test of individual salary reviews What are we going to do?

19 19 Investment in growth areas What have we accomplished? What are we going to do? Hansapank has acquired Lithuania s LTB - strengthening the customer base by 1.5 million Develop long-term cooperation with independent and partly owned savings banks Extend cooperation with independent and partly owned savings banks Further develop existing alliances Metropolitan regions in Sweden The alliance strategy has been successful - focus on growth areas still applies

5 million Develop long-term cooperation with independent and partly owned savings banks Extend cooperation with

20 20 E-business What have we accomplished? What are we going to do? E-Enabling Development of the bank s digital channels Lessmore Business web E-billing E-payrolls Online loan applications Pilot for stock trading Touchdown Europe e-business Marakanda Firstviewbank an expensive experience Improve operational efficiency Manage existing investments The most important effects have been achieved by improving the bank s operational efficiency

applications Pilot for stock trading Touchdown Europe e-business Marakanda Firstviewbank an expensive

21 The Group s priorities

22 22 Growth opportunities Increased activities in branch network Segmentation of customer base Migration of customer base to electronic channels Continued strong growth within the payments business Savings growth through changes in pension systems Strong growth in Baltic and Danish operations

23 23 Priorities 2002 Improved branch operations Customer satisfaction, costs and market shares will be prioritized Differentiated customer offerings/service Shared business systems Increased cross-selling Need for greater cost efficiency The long-term objective of a C/I ratio of 0.5 remains unchanged (today 0.59) Increase presence in Stockholm and Gothenburg

24 24 Priorities 2002 Multispecialist bank Migration of customer base to electronic channels We have good opportunities for future growth

25 Appendix 25

26 FöreningsSparbanken is 26 Sweden s most accessible bank ,9 207 FSPA SHB SEB Nordea SHB+SEB +Nordea Branches ATM's In-store banking

27 27 Nasdaq and SSE Nasdaq 250 Index Stockholmsbörsen May Sep 99 May Sep 00 May Sep 01 May Sep

28 USA: Corporate profits after tax quarter Miljarder USD

29 Sweden: Housholds financial situation 29 as % of disposable income 200% 180% 160% 140% 120% 100% 80% 60% 40% 20% Nettoförmögenhet/Disponibelinkomst Skulder/Disponibelinkomst

30 30 Economy/Credit situation Pressure on the credit portfolio Business activity in the market is declining Even more important to take advantage of new business opportunities

31 The markets s new demands - 31 consequences for the bank Strong branch operations Customer satisfaction, costs and market shares will be priorities Specialization within a single group Better cooperation between business areas and Retail Banking Differentiated customer offerings Shared business systems

32 The markets s new demands - 32 consequences for the bank, cont. Need for greater cost effectiveness The long-term goal of a C/I ratio of 0.5 remains unchanged Further growth requirements Third-party products with a focus on customers and profitability

33 The markets s new demands - 33 consequences for the bank, cont. Multispecialist bank Customer demands and increased competition are driving forces IT/Internet - increased efficiency Values

34 Capturing potential in existing strengths 34 Focus on volume and geographic growth, combined with stable margins Leverage on existing customer base by segmentation and differentiated offerings Further realizing scale economies Keeping up stability in performance Cost control and increase in operational efficiency

JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005

JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005 Dear shareholders, ladies and gentlemen, FöreningsSparbanken is currently the most profitable bank in the