Q August 22, 2003

Transcription

1 August 22, 23 Contents 1. Market position 1 2. International banking and alliances 4 3. Financial and strategical targets 5 4. Savings and investments 7 5. Lending 8 6. Profit trend and key figures 9 7. International Banking Income Expenses Profit per business areas Balance sheet Interest rates Funding and interest rate risks Asset quality Doubtful claims Structure Owners and shares 24

2 Q Market position Sweden s oldest bank - established 182. Average market share in retail market is approx. 3 percent. Largest customer base in Sweden. Strongest name recognition of all Swedish banks. Best accessibility - nationwide network of branches and electronic meeting places. Our customer base Private individuals FSPA 4.4 million Jointly owned.4 million Independent 1.3 million Hansabank 3.8 million Municipalities FSPA 212 municipalities Jointly owned 2 Independent 93 FSPA 21 county councils 4 3 Market shares Swedish retail market June 3, 22 % 2 Small/midsize corporates FSPA 243, Jointly owned 25, Independent 93, FI-Holding 5, Hansabank 143, Large companies Nationwide organizations Union, cooperative and religious organizations 1 Total lending* Mortgages Deposits* Fund management** Fund-allocated insurance (new policies) * Incl. HSB Bank ** March Product range and The Bank in Sweden market position - Sweden 825 (85) branches spread across the country 241 (241) in-store banks 1,144 (1,178) meeting places by post offices/ Svensk Kassaservice 1,166 (1,144) ATMs 3.5 (3.5) million customers use ATM Telephone bank, 2.1 (2.) million customers Internet bank, 1.5 (1.3) million customers Savings and investments 1st household deposits 1st mutual funds 2nd fund-allocated insurance, new policies 1st individual pension savings 3-11th stock trading 1st premium pension savings Corporate market 2-3 % deposits lending instalment financing and leasing Salaries and payments 1-2nd direct salary deposits 1-2nd giro payments 1st card clearing 1st debit cards Meeting places 1st branches 1st internet banking 1st telephone banking 1st ATMs Housing 1-2nd mortgage loans 1-2nd real estate brokerage Including jointly owned and independent savings banks. (December 22) 1

3 1. Market position More and new meeting places give the customer greater freedom of choice and convenience. Convenience products shows to be a major growth area. The Internetbank grows with about 4, customers a week. 43 percent (36) of giro payments via the Internet. 34 percent (29) of stock transactions in local banks via the Internet. (Figures in parentheses refer to January - June 22) Number of products per customer Number of products per customer - private customers - corporate customers Number of customers Av. no. of products in Sweden Q1 1-3,69 Q Q Q Q Q Q Q Q Q > Number of customers 5 Av. no. of products in Sweden Q1 1-4,38 Q Q Q Q Q Q Q Q Q >1 6/3 6/2 Number of products per customer 6/3 6/2 Number of products per customer 2

4 1. Market position Giro accounts - private customers No. of giro accounts, customers with giro, thousands 4 Bank cards - Sweden and the Baltic states Number of cards, thousands 5 Quarterly transactions, millions Q2- Q3- Q4- Q1-1 Q2-1 Q3-1 Q4-1 Q1-2 Q2-2 Q3-2 Q4-2 Q1-3 Q2-3 Q2- Q3- Q4- Q1-1 Q2-1 Q3-1 Q4-1 Q1-2 Q2-2 Q3-2 Q4-2 Q1-3 Q2-3 Giro (paper), Sweden Giro via Internet, Sweden Giro via Internet, Hansabank Hansabank Purchases,millions Acquiring,millions Internet bank Including independent and jointly owned savings banks June 3, 23 and Hansabank Number of customers, thousands Number of payments, millions Telephone bank Sweden Personal Assistance 1,437, customers - an increase by 5.4 percent from Dec. 31, 22 2,563, calls in one year - an increase by 5.5 percent Self-service 2,88, customers - an increase by 2.1 percent from Dec. 31, 22 49,532, calls in one year - an increase by 3.9 percent Customer center 2,4, calls in one year - a decrease by 1. percent Q2- Q3- Q4- Q1-1 Q2-1 Q3-1 Q4-1 Q1-2 Q2-2 Q3-2 Q4-2 Q1-3 Q2-3 Numbers of Internet customers in Sweden Number of Internet customers in Hansabank Payments 3

5 2. International Banking and alliances The Nordicum alliance Globalization and competition require broader customer bases over time s continued expansion is based on a well-tested, successful model Strong local banking network with operations close to customers Strong product areas with large market shares (mortgages, mutual funds, insurance, cards and electronic payment services) Extensive experience from alliance with independent savings banks Developing our concept for local banks in Nordic and Baltic markets. Profitable growth due to ownership/part ownership of distribution networks and product companies Enlarged customer base for distribution of products A potential for cooperation and successive integration to enhance economies of scale International presence Norway SpareBank 1 Gruppen Finland Aktia USA New York England London Sweden Denmark FI-Holding Estonia Latvia Lithuania Hansabank Japan Tokyo Luxembourg International Banking Country Sweden Norway Finland Baltic states Denmark Total Bank Förenings- Sparebank 1 Aktia Hansabank FI-Holding Sparbanken Gruppen + jointly owned + independent savings banks Ownership 25 percent 25 percent 6 percent 75 percent interest Investment SEK 1,415 M SEK 19 M SEK 2,936 M SEK 5,87 M SEK 1,348 M Branches ,552 ATMs ,653 Private customers 4.4 million 2.3 million.2 million 3.8 million 12.4 million +.4 million million Corporate 246, 12, 23, 143, 5, 655, customers + 25, + 93, 4

6 3. Financial and strategical targets Priorities in Customer satisfaction 5. Cost efficiency 2. Growth 4. Competence 3. Branches To build on Swedbank s strong market position and core values - a bank for everyone A return on equity exceeding the weighted average for larger listed banks in Sweden, Denmark, Finland and Norway. The capital adequacy ratio should amount to at least 1.5 percent, of which the tier one over the long term should fall in the range of 6.5 to 7.5 percent. The loan loss level should not exceed.5 percent over a business cycle. Over the longterm the dividend should amount to at least 3 percent of net income. Return on equity Capital adequacy 3 % % Jun- Sep- Dec- Mar-1 Jun-1 Sep-1 Dec-1 Mar-2 Jun-2 Sep-2 Dec-2 Mar-3 Jun-3 Jun- Sep- Dec- Mar-1 Jun-1 Sep-1 Dec-1 Mar-2 Jun-2 Sep-2 Dec-2 Mar-3 Jun-3 Actual capital adequacy Primary capital ratio Target capital adequacy Target primary capital ratio 5

7 3. Financial and strategical targets,6,5 Loan loss ratio Dividend % Highest average loan loss level over a business cycle SEK 7 6 Mandamus, shares Shares Cash,4 5,3 4,2 Actual 3 2,1 1 Jun- Sep- Dec- Mar-1 Jun-1 Sep-1 Dec-1 Mar-2 Jun-2 Sep-2 Dec-2 Mar-3 Jun * Dividend ratio 39% 56% 53% 57% 45% 56% 7% Dividend growth 57% 9% 16% 7% 1% Yield, per year end ** 4.7% 3.34% 3.35% 4.% 3.81% 4.23% 5.34% * Excluding distribution of shares ** Based on share price at year-end 6

8 Robur Q Savings and investments Robur Försäkring Market shares by total fund assets in Sweden Market shares, fund-allocated insurance, new policies March 31, 23, SEK bn July 22 June 23 Nordea 2.9% Länsförsäkringar/ WASA % Others % Robur % Skandia Link 28.1% SEB/Trygg Liv 24.% Savings and investments contributions Mar SEK bn Jun SHB % Sep Nordea % Dec Mar 1 Jun 1 Households SEK Fund Management, net Discretionary management Currency deposits Sep 1 Dec 1 Mar 2 Jun 2 SEB % Sep 2 Dec 2 Retail bonds/spax (book value) Unit-linked insurance Other deposits Mar 3 Jun 3 Others 19.9% Market share new savings New savings - net SHB Fond 11.9% Robur Försäkring 13.2% Market share % Q2 Q1 Q4 Q3 Q2 Jun 3 SEK bn Bank deposits, private Net fund and insurance investments Retail bonds Subtotal private HSB Bank Bank deposits, other Other sales channels in Sweden Total Förenings- Sparbanken, Sweden Jointly owned and independent savings banks,8, Hansabank *, ,6 -.2 Total new savings, net * exkluding exchange rate fluctuation Volumes and net flow Jun 3 Jun 3 Dec 31 Dec 31 Dec 31 Volume SEK bn Households, SEK Household foreign currency Other, SEK Other, foreign currency Total of which HSB Bank Fund management Discretionary asset management Unit-linked insurance less unit-linked insurance in Robur funds Retail bonds and other bonds Total Jun 3 Jun 3 Jan-Dec Jan-Dec Jan-Dec Net flow, SEK bn Household deposits, SEK Other deposits, SEK Currency deposits Fund management, net savings Fund-allocated insurance, new policies Retail bonds

9 5. Lending Bank lending, Sweden SEK bn Banks 1 Mortgage Institutions 5 9/99 3/ 9/ 3/1 9/1 3/2 9/2 3/3 Source: Statistics Sweden (Statistiska centralbyrån, SCB), March 31, 22 Lending Spintab s loan portfolio June 3, 23 (December 31, 22) June 3, 23 (December 31, 22) Real estate management, 21% (21%) Municipalities, 2% (2%) Spintab, private individuals, 38% (37%) Municipal loans and guarantees 7% (8%) Business properties 1% (1%) Agriculture 6% (5%) Single-family homes 59% (59%) Corporate excl. real estate mgmt, 31% (31%) Bank lending, private individuals, 6% (7%) Hansabank, private individuals 1% (1%) Other private individuals 1% (1%) Multi-family housing 2% (21%) Individual condominiums 7% (6%) Lending volumes (excl. banks) SEK bn Jun-3 Mar-3 Dec-2 Sep-2 Jun-2 Mar-2 Dec-1 Sep-1 Jun-1 Private individuals of which Spintab Real estate management Corporate incl credit institutions Municipalities Total Credit institutions, incl. The Swedish National Debt Office Repurchase agreements Total lending

10 6. Profit trend and key figures Change in net interest income Jan - Jun 23 compared to Jan - Jun 22, SEK M + 2 Increased lending volumes in Swedish branch operations + 15 Increased lending volumes in Hansabank + 1 Increased deposit volumes in the Swedish branch operations + 1 Swedbank Markets + 1 Higher lending margin in the Swedish branch operations + 5 Other - 3 Lower deposit margin in the Swedish branch operations - 15 Lower lending margin in Hansabank Change in net commission income Jan - Jun 23 compared to Jan - Jun 22, SEK M + 5 Payment processing + 5 Other + 1 Securities commissions - 2 Brokerage - 2 Insurance commissions - 32 Asset Management Profit trend Jan-Jun Jan-Jun Jan-Dec Jan-Dec Jan-Dec SEK M Net interest income 7,991 7,733 15,549 15,16 13,589 Net commissions 2,71 2,956 5,764 6,72 6,784 Net profit on financial operations ,11 1,694 Other income 1, ,247 1,211 1,936 Total income 12,254 11,462 23,1 23,49 24,3 Staff costs -3,399-3,515-7,5-6,614-6,448 Other administrative expenses -3,11-3,28-6,3-6,587-6,641 Goodwill amortization Total expenses -6,87-6,899-13,698-13,894-13,719 Profit before loan losses 5,447 4,563 9,33 9,515 1,284 Loan losses ,63-1,337-1,115 Write-down of financial fixed assets Share of profit/loss of associated companies Operating profit 4,529 3,612 6,848 8,39 9,366 Appropriations Taxes -1, ,983-2,123-2,476 Minority interest Profit for the period 2,983 2,292 4,152 5,24 6,384 Key figures Jun 3 Jun 3 Dec 31 Dec 31 Dec Return on equity (ROE), % Return on total capital (ROA),% Loan loss ratio, net % Provision ratio for doubtful claims, % Capital adequacy ratio, % Primary capital ratio, % C/I ratio before loan losses C/I ratio after loan losses Interest margin, % Investment margin,% Risk weighted amount/total assets (RWA/TA) % Earnings per share (EPS), SEK Dividend per share (DPS), SEK Balance sheet data Jun 3 Jun 3 Dec 31 Dec 31 Dec 31 SEK M Total lending 854,782 83,725 82,59 793, ,933 Mortgage lending 386,72 353,21 367,645 34, ,332 Deposits and borrowings from the public 271, , , ,19 247,438 Equity 38,7 36,7 38,62 37,483 34,954 Total assets 1,33, , ,53 959, ,439 9

11 6. Profit trend and key figures Quarterly profit trends SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Net interest income 3,958 4,33 3,886 3,93 3,98 3,825 3,815 3,681 3,724 Net commissions 1,41 1,3 1,439 1,369 1,479 1,477 1,486 1,518 1,549 Net profit on financial operations Other income Total income 6,448 5,86 5,79 5,749 5,591 5,871 5,768 5,755 6,31 Staff costs -1,649-1,648-1,716-1,76-1,686-1,628-1,687-1,534-1,513 Allocation to profit-sharing funds Other expenses -1,723-1,685-1,671-1,638-1,673-1,711-1,823-1,782-1,794 Total expenses -3,49-3,398-3,457-3,342-3,436-3,463-3,568-3,443-3,45 Profit before loan losses 3,39 2,48 2,333 2,47 2,155 2,48 2,2 2,312 2,626 Loan losses Write-down of financial fixed assets Share of profit/loss of associated companies Operating profit 2,546 1,983 1,848 1,388 1,66 1,952 1,677 2,2 2,353 Net interest income, Spintab 1,196 1,229 1,174 1,12 1,162 1,19 1,19 1,17 1,58 Quarterly development excluding items affecting comparability SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Capital gains/losses on sale of real estate Allocation to profit-sharing funds Merger costs Staff reduction program Write-offs of shareholdings Write-off of goodwill in SpareBank 1 Gruppen 179 Total Operating profit 2,546 1,983 1,848 1,388 1,66 1,952 1,677 2,2 2,353 Operating profit excluding items affecting comparability 2,45 2,48 2,18 2,37 1,837 2,76 1,755 2,229 2,483 Share of profit/loss in associated companies Q 2 Q 1 Q 4 Q 3 Q2 Q1 SEK M SpareBank 1 Gruppen Aktia First Securities Within FI-Holding Sjuhärad Färs & Frosta Other jointly owned banks in Swedencompanies VPC Marakanda Other Total

12 7. International Banking FIH Quarterly development SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Net interest income Net commissions Net profit on financial operations Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Loan losses Share of profit/loss of associated companies Operating profit Balance sheet data Jun 3 Jun 3 Dec 31 SEK M Total assets 85,43 84,996 82,954 Lending to the public 7,229 7,47 7,77 Shareholders' equity 7,313 6,75 6,949 Return on equity 9.7% 12.% 11.6% Hansabank Quarterly development SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Net interest income Net commissions Net profit on financial operations Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Loan losses Share of profit/loss of associated companies Operating profit Balance sheet data Jun 3 Jun 3 Dec 31 SEK M Total assets 52,55 43,787 47,974 Lending to the public 33,629 25,47 3,283 Shareholders' equity 5,573 4,66 5,288 Return on equity 21.6% 2.7% 22.9% 11

13 SEK M Q Income Quarterly trends, income -1 Q2 1 Q3 1 Q4 1 Q1 2 Q2 2 Q3 2 Q4 2 Q1 3 Q2 3 Net interest income Financial operations Commissions Other Quarterly income Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 SEK M Interest income 12,26 12,586 12,11 13,312 13,66 12,985 12,572 14,434 14,732 Interest expenses -8,248-8,553-8,224-9,382-9,698-9,16-8,757-1,753-11,8 Net interest income 3,958 4,33 3,886 3,93 3,98 3,825 3,815 3,681 3,724 Payment processing commissions Brokerage commissions Asset management Other securities commissions Other commissions receivable Total commissions receivable: 1,877 1,738 1,9 1,813 1,942 1,93 1,953 1,926 1,947 Payment processing Securities commissions Other commissions payable Total commissions payable: Net commissions 1,41 1,3 1,439 1,369 1,479 1,477 1,486 1,518 1,549 Net profit on financial operations Shares and participations Interest-bearing securities Other financial instruments Total realized gains/losses Shares and participations Interest-bearing securities Other financial instruments Total unrealized change in value Change in exchange rates Total net profit on financial operations Other income Real estate income Income from independent savings banks Dividends Other Total other income Total income 6,448 5,86 5,79 5,749 5,591 5,871 5,768 5,755 6,31 12

14 9. Expenses Cost development SEK M 3 8 SEK M Quarterly expenses Q2 1 Q3 1 Q4 1 Q1 2 Q2 2 Q3 2 Q4 2 Q1 3 Q2 3 2 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q year 9-days Total expenses Expenses excl. Kopparmyntet, merger costs, staff reduction costs and staff reduction Staff costs Expenses Quarterly expenses SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Staff costs: Salaries and remuneration, incl. social insurance charges -1,578-1,582-1,65-1,643-1,63-1,566-1,594-1,481-1,442 Other staff costs Allocation to profit-sharing funds Total staff costs -1,686-1,713-1,786-1,74-1,763-1,752-1,745-1,661-1,611 Other expenses: Premises Computer and IT Telecommunications, postage Depreciation and write-down on equipment and real estate Amortization, goodwill Other Total -1,723-1,685-1,671-1,638-1,673-1,711-1,823-1,782-1,794 Total expenses -3,49-3,398-3,457-3,342-3,436-3,463-3,568-3,443-3,45 of which FI-Holding and Hansabank Number of full time positions Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Permanent employees 8,93 8,981 9,81 9,9 9,25 9,16 9,29 9,15 9,194 HSB Bank Temporary employees Total 9,428 9,487 9,573 9,459 9,469 9,468 9,531 9,616 9,687 Hansabank * 5,762 5,765 5,744 5,843 6,83 6,159 6,387 6,751 6,665 FI-Holding Total 15,35 15,45 15,468 15,461 15,711 15,786 16,68 16,523 16,495 * The increase in Hansabank the second quarter 21 is due to the acquisition of LTB. 13

15 1. Profit per business area Business areas accounting principles Market-based compensation is applied between business areas. All expenses in IT, Support and Group Staffs are transferred at full cost-based internal prices to the business areas. Executive Management expenses are not distributed. The Group s shareholders equity (the year s opening equity balance excluding the dividend) is allocated to each business area at the beginning of the year. The allocation is based on capital adequacy rules and estimated capital requirements during the year. Estimated interest on allocated equity is calculated based on average Swedish demand loan rates. Goodwill, including the effect on profit, financial expense and amortization, is allocated to each respective business area. The return on equity is based on allocated shareholders equity for the business areas. The return on equity for the business areas is based on operating profit less estimated tax and minority interests. Swedish branch operations SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income 2,832 2,841 2,882 2,857 2,849 2,72 Other income ,23 Total income 3,683 3,622 3,825 3,766 3,844 3,743 Staff costs , Other expenses -1,242-1,218-1,3-1,116-1,226-1,146 Total expenses -2,26-2,178-2,359-2,77-2,28-2,91 Profit before loan losses 1,477 1,444 1,466 1,689 1,636 1,652 Loan losses Share of profit/loss of associated companies etc Operating profit 1,21 1,165 1,215 1,336 1,318 1,289 Allocated equity 2,463 2,463 19,76 19,76 19,76 19,76 Return on equity 16.9% 16.4% 17.8% 19.5% 19.9% 19.4% Total assets SEK bn Swedish branch operations Swedish branch operations includes customer responsibility for private individuals, small and medium-size companies, organizations, municipalities and county councils in Sweden, and the Bank s own distribution channels in the form of branches, ATM s, the Swedish telephone and Internet banks, Lending operations, Payment operations, Bank deposits, e-business, HSB Bank, partly owned Swedish banks, and the private banking operations in Luxembourg. Swedbank Markets SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Loan losses Share of profit/loss of associated companies etc Operating profit Allocated equity 3,384 3,384 3,54 3,54 3,54 3,54 Return on equity 18.2% 16.3% 18.1% 9.2% neg 13.6% Total assets SEK bn Swedbank Markets Swedbank Markets is responsible for the Bank s Investment and Merchant Banking operations. It is also responsible for large companies and financial institutions. In addition to the operations in Sweden and First Securities in Norway the business area includes the international branches in Oslo, London and New York. 14

16 1. Profit per business area Asset management and insurance SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income Staff costs Other expenses Total expenses Asset management and insurance Asset management and insurance comprises Robur Group and its operations in fund management, institutional and discretionary asset management, insurance and individual pension savings. Profit before loan losses Operating profit Allocated equity 1,759 1,759 1,971 1,971 1,971 1,971 Return on equity 15.2% 17.5% 19.5% 12.8% 19.3% 23.7% Total assets SEK bn International banking operations SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income 1,132 1,121 1,12 1,113 1,7 1,13 Staff costs Other expenses Total expenses Profit before loan losses Loan losses Share of profit/loss of associated companies etc Operating profit Allocated equity 8,79 8,79 8,523 8,523 8,523 8,523 Return on equity neg 1.1% 6.7% 1.7% 8.9% 9.2% Total assets SEK bn International banking operations The International banking operations business area includes the subsidiaries Hansabank in the Baltic states and FI- Holding in Denmark and s interests in the associated companies SpareBank 1 Gruppen of Norway and Aktia of Finland. Treasury management SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Writedown of financial fixed assets -264 Operating profit Allocated equity 1,141 1,141 1,37 1,37 1,37 1,37 Return on equity 211.7% 36.8% 23.9% neg 43.8% 27.2% Total assets SEK bn Treasury management The business area includes Treasury management in Sweden (the parent company, AB, and the subsidiary Spintab). Treasury management in Sweden is responsible for long-term funding, including funding for mortgage operations, the Bank s strategic short- and long-term portfolios, and certain other shareholdings, e.g. the holding in OM.. 15

17 1. Profit per business area Other SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Loan losses Share of profit/loss of associated companies etc Operating profit Allocated equity Total assets SEK bn Other Other comprises income and expenses that do not fall under any of the business areas. This includes IT, Group Staffs, the support organization, the Group s own insurance company Sparia and Fastighetsbyrå (real estate brokerage). Other also includes central provisions for loan losses that are not reported by units with customer responsibilty. Eliminations SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Net interest income Other income Total income Staff costs Other expenses Total expenses

18 Balance sheet SEK bn, June 3, 23 Q Balance sheet Private individuals, 6 Other loans to the public, 277 Mortgage loans, 386 Credit institutions, 132 Interest-bearing sec, 78 Other assets,11 Household deposits, 151 Other deposits from the public, 119 Debt securities in issue, 474 Credit institutions, 17 Other liabilities, 144 Shareholders equity, 39 Balance sheet SEK M Jun 3, 23 Dec 31, 22 Jun 3, 22 Lending to the public 722,989 73, ,218 Lending to credit institutions 131,793 98, ,57 Interest-bearing securities 77,759 64,884 72,3 financial fixed assets 1,627 2,729 2,875 financial current assets 76,132 62,155 69,155 Assets in the insurance operations 35,2 32,242 36,348 Other assets 65,881 58,318 74,352 Total assets 1,33, ,53 986,455 Deposits and borrowings from the public 271, , ,449 Amounts owed to credit institutions 17,39 12, ,711 Debt securities in issue 473,94 42, ,56 Liabilities in the insurance operations 35,33 32,243 36,858 Other liabilities 77,18 72,516 81,966 Subordinated liabilities 29,872 27,655 28,715 Shareholders' equity 38,7 38,62 36,7 Total liabilities, provisions and shareholders'equity 1,33, ,53 986,455 Deposits SEK bn Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Transaction accounts Savings accounts Overnight deposits Other Currency deposits Total deposits from public of which non financial companies Lending SEK bn Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Private individuals of which Spintab Real estate management Retail, hotels, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other business lending Municipalities* Total Credit institutions incl. The Swedish National Debt Office Repurchase agreements Total lending * Not including municipal companies 17

19 12. Interest rates Interest rates in Sweden, quarterly % Jun-96 Dec-96 Jun-97 Dec-97 Jun-98 Dec-98 Jun-99 Dec-99 Jun- Dec- Jun-1 Dec-1 Jun-2 Dec-2 Jun-3 1-year 9-days Interest rates, at end of Household deposits Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Q1 1 Private accounts up to SEK 15, Private accounts over SEK 15, e-savings account Other Savings accounts SEK -1, SEK 1,-25, SEK 25, Fixed rate deposits 3-months year year year Spintab mortgages Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Q1 1 Single-family homes 3-months year year

20 13. Funding and interest rate risks Maturity distribution, Spintab's lending, June 3, 23 SEK M <3 mos. 3-6 mos. 6-9 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. > 5 yrs. Total Retail 84,981 9,656 16,65 11,352 48,44 35,29 16,836 22,831 7, ,646 Other 44,87 4,656 9,238 7,349 22,647 16,218 9,615 11,257 7, ,426 Total 129,68 14,312 25,888 18,71 71,87 51,247 26,451 34,88 15,23 386,72 Maturity distribution, Spintab's funding, June 3, 23, nominal amount SEK M <3 mos. 3-6 mos. 6-9 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. > 5 yrs. Total Retail 818 2, ,7 Other 27,36 16,284 1,6 54,379 41,624 38,526 21,947 11,585 9,36 41,81 Total 27,36 16,284 1,878 56,56 41,624 38,526 21,947 11,585 9,44 44,88 Funding and capital structure, June 3, 23 Primary Capital SEK M Debt of which Undated Primary Supple- Risk- capital adequacy securities bonds Subordinated subordinated capital mentary weighted ratio ratio loans loans capital amount % % The Bank 67,578 5,44 14,98 6,94 27,36 18,249 28, Spintab 398, ,15 2,334 3,985 17,652 6, , The Group 473,94 279,726 18,996 1,857 41,666 27, , Interest rate risk, June 3, 23 Effect on value of assets and liabilities in SEK and foreign currency if interest rates increase by 1 b.p. SEK M <3 mos. 3-6 mos mos. 1-2 yrs. 2-3 yrs. 3-4 yrs. 4-5 yrs. 5-1 yrs. >1 yrs. Total Total, the Group ,873 Of which foreign currency Of which financial current assets at fair value, the group Of which foreign currency

21 14. Asset quality Loan loss ratio, net.19 (.23) percent. Doubtful claims.26 (.27) percent of loan book. Doubtful claims gross 3,65 SEK M Doubtful claims net - 1,46 SEK M Provision ratio for doubtful claims 139 (134) percent. Low loan exposure to other countries. (Figures in parentheses refer to December 31, 22) Lending by collateral June 3, 23 Personal guarantee, 2% Unsecured, 12% Chattel mortgages, 2% Other collateral, 6% Other properties, 16% Residential properties incl. condominiums, 55% Municipalities and county councils, 7% Loan losses, quarterly trends SEK M Q2 3 Q1 3 Q4 2 Q3 2 Q2 2 Q1 2 Q4 1 Q3 1 Q2 1 Loan losses, the Group Provisions Established Recoveries Change in value of property taken over Total Loan losses by Group unit AB Spintab FI-Holding Hansabank Others Total Loan losses by sector Households Real estate management Retail, hotel, restaurants Construction Manufacturing Transportation Forestry and agriculture Other service businesses Other business lending Other Total Credit exposure Of which June 3, 23 SEK M, book value % of credit- Country Loans Derivatives* Investments Guaranties Other Total total institutions Sweden 65,976 11,18 51,78 11, , ,821 OECD countries** 116,716 2,271 22,57 2,967 2, , ,468 of which Denmark 71,91 2,239 7, , ,678 of which Norway 12,4 1,212 2, ,165 17, ,69 Baltic region 32, ,578 1,446 2,488 39, Russia 1, , Latin Amerika 1, , of which Argentina of which Brasil Japan 1, , ,428 Rest of East Asia , ,17 of which South Korea of which China Other countries 3, , ,89 Total 763,84 31,547 76,567 15,747 5, , ,99 * Market value ** Excl. Sweden, Japan, Hungary, Mexico, Poland, Turkey, Slovakia, South Korea and the Czech Republic. 2

22 15. Doubtful claims Doubtful claims loans by entity Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Gross, SEK M AB 1,883 1,888 1,855 2,273 2,33 2,12 2,164 1,862 1,697 Spintab Finans FI-Holding Hansabank Övriga Total 3,65 3,826 3,6 3,977 4,56 4,81 4,253 3,982 3,679 Doubtful claims loans by entity Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Provisions, SEK M AB 2,889 2,844 2,698 2,88 2,538 2,344 2,18 1,778 1,682 Spintab Finans FI-Holding 1,144 1,168 1,119 1,182 1,144 1,122 1,142 1,184 1,98 Hansabank Övriga Total 5,56 5,8 4,823 5,6 4,698 4,582 4,38 4,15 3,899 Doubtful claims loans by entity Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Mar-31 Dec-31 Sep-3 Jun-3 Net, SEK M AB -1, Spintab Finans FI-Holding Hansabank Övriga Total -1,46-1,254-1,223-1, Sector/Industry Accrued Specific Collective Provisions for Book value of Book value Book value of SEK M acquisition provisions provisions collectively claims after of doubtful unsettled claims value before for individually for individually valued accounting for claims for which accaccounting for assessed assessed homogenous provisions rued interest has provisions claims claims groups of been entered claims as income Consumers 321, , Real estate management 147, , Retail, hotels, restaurants 27, , Construction 11, , Manufacturing 52, ,53 51, Transportation 15, , Forestry and agriculture 33, , Other service businesses 19, , Other business lending 58, , Municipalities 13,612 13,612 Lending 7,143 1,234 3, ,19 2, Credit institutions incl. Nat l Debt Office 67, ,974 Repurchase agreements - credit institutions incl. Nat l Debt Office 66,254 66,254 Repurchase agreements - public 25,445 25,445 Total lending to credit institutions and the public 859,838 1,256 3, ,782 2,

23 Kv Structure Group s operational structure Board of Directors Chairman Secretariat Internal Audit President Subsidiaries Independant Savings Banks and Partly Owned Banks Central functions Robur Spintab Northen region Middle region Stockholm region Western region Southeast region Southern region Swedbank Markets International banking FSPA Finans Telephone Bank Fastighetsbyrån Juristbyrån Internet Bank Kundinkasso Customer Offerings and Products Joint Services Group s legal structure AB AB Spintab Robur AB FSPA Finans AB FSPA Administration AB Swedbank Luxemburg S.A. Sparia Försäkrings AB Kundinkasso AB K.I.A.B. FSPA Juristbyrå AB HSB Bank AB FSPA Jordbrukskredit Robur Försäkring AB FSPA Kapitalförvaltning AB FSPA Fastighetsbyrå AB Allround AB (67%) FSPA Öland AB ( 6% ) FI-Holding A/S ( 74.7% ) AS Hansabank ( 59.71% ) Eskilstuna Rekarne Sparbank AB ( 5% ) Bergslagens Sparbank AB (48%) FSPA Sjuhärad AB (47.5%) FSPA Söderhamn AB ( 4% ) Vimmerby Sparbank AB (4%) Färs och Frosta Sparbank AB ( 3% ) SpareBank 1 Gruppen AS ( 25%) Aktia Sparbank Ab (24.39%) Babs Paylink AB (49%) First Securities (33.3%) VPC AB (24.65%) DocHotel i Stockholm AB(25%) Finansiell ID-Teknik AB (28.3%) 22

24 Management structure Q Structure Executive management: Birgitta Johansson-Hedberg, President and CEO. Nils-Fredrik Nyblaeus, Deputy President and CEO, CFO. Anders Ek, EVP, President of AB Robur. Gert Engman, EVP, CIO Head of Joint Services. Göran Gunnarsson, EVP, Head of Electronic Channels. Kjell Hedman, EVP, Head of Customer Offerings and Products. Lars-Erik Kvist, EVP, CCO Head of Credit. Jan Lidén, EVP, Regional Manager for Stockholm. Ingrid Persson, EVP, Head of Swedish savings bank cooperation. Henrik Kolga,EVP Head of Communications. Göran Theodorsson, EVP, Head of Human resources and skills development. Annika Wijkström, EVP, Head of business area Swedbank Markets and head of business area International. Executive management continued: Lennart Haglund, EVP, Regional Manager for South. Britt Henriksson, EVP, Regional Manager for North. Mikael Inglander, EVP, Regional Manager for Southeast. Bengt-Erik Lindgren, EVP, Regional Manager for Mid. Peter Rydell, EVP, Regional Manager for West. Gith Bengtsson, Union representative. Group counsil: Jan Alexandersson, Telephone bank. Per Aspegren, Capital Markets. Håkan Berg, EVP, Internal audit Robert Charpentier, EVP, Deputy head of Swedbank Markets. Leif Ekbom, EVP, Head of Forest and Agriculture segment. Marie Halling, Corporate sector manager. Angela Hellryd-Dahlén Marketing Department. Group counsil continued: Lars Eklund, EVP, Operational Risks, Security, Legal Affairs, Ethics, Insurance and Crisis mamagement. Tommy Lindell, Organizational and institutional customers and non-profit organizations. Anders Gustafzon, Former head of Organizational and institutional customers and non-profit organizations. Lisbeth Hansson, Head of Channel Management and Development. Mats Lagerqvist, EVP of Robur AB. Jan Lilja, Head of business area Treasury. Fredrik Runnquist, IT Manager. Åsa Wilson-Bergstedt, Head of Swedish savings bank cooperation Gith Bengtsson, Union representative. Credit limit structure Board of directors Unlimited Central headquarters Board credit- and capital committee Unlimited Central credit committee SEK 15/35 M Local bank Local board SEK 1/2/3/4 M Depending on size of bank Local delegation SEK 7.5/15/2/3 M Two officers jointly SEK.25/3/5 M Financial risk control and monitoring Subsidiary s board Board of Directors in Finance committee Board of Directors presidium Subsidiary s finance committee Trading Committee Treasury 23

25 17. Owners and shares In the long term the dividend shall amount to at least 3 percent of profit after tax. Large number of international investors. Individual investors mainly customers of the bank. Number of shareholders June 3, 23: Shareholders, June 3, 23 % Savings banks foundations 21.1 Independent savings banks 7.5 Alecta 4.8 Robur funds 3.6 Farmers' cooperatives 3.2 AMF Pension 2.8 AFA Försäkring 2.7 Nordea funds 2. Skandia 1.7 profit-sharing funds 1.6 SEB funds 1.6 The second swedish national pension fund 1.5 The fourth swedish national pension fund 1.5 Other Swedish Institutions 12.9 Swedish general public 1.8 Other international investors 2.7 Total 1. International investors 2.7% (2.6%) Savings banks foundations 21.1% (21.%) Independent savings banks 7.5% (7.2%) Federation of Swedish farmers and farmers cooperatives 3.2% (3.2%) Swedish general public 1.8% (11.1%) Swedish institutional investors, 36.7% (36.9%) Ownership structure June 3, 23 (December 31 22) Number of shareholders: 396,925 Number of shares: 527,88,843 Source: DN Ägarservice and Data per share Jan-Jun Jan-Jun SEK per share Earnings 5,65 4,34 7,87 9,86 12,1 Equity 73,32 69,53 73,13 71,2 66,22 Cash dividend 5,5 5,5 5,5 Price, end of period 11, 116, 13, 13, 144,5 Yield, % 5,34 4,23 3,81 Price/Equity, % Changes in subscribed capital Year Transaction Par value/ Price, % Added Accumulated no. Share capital share no. of shares of shares SEK M 199 4,88, 2, New issue 5 1 1,, 5,88, 2, New issue , 6,84, 3,42 New issue 5 1 1,2, 8,4, 4, Split 5:1 1 32,16, 4,2, 4,2 New issue 1 1 1,, 5,2, 5, Split 1: ,8, 52,, 5, New issue ,, 54,, 5, New issue/ reduction 1 65/63-261,819, ,18,72 2,782 Bonus issue 2 278,18,72 5, New issue ,717,269 35,897,971 7,18 New issue , ,872,562 7, Bonus issue 2 175,936, ,88,843 1,556 24

26 For further information, please contact: Nils-Fredrik Nyblæus, Deputy President and CEO, CFO Henrik Kolga, Head of Communications Jonas Blomberg, Head of Investor Relations Tobias Norrby, Investor Relations Lena Eriksson Holmlund, Investor Relations Investor Relations, fax address: Investor Relations on the Internet: This presentation can be downloaded/accessed from s web-site. Investor relations section is found on: Postal address: S Stockholm, Sweden Visitors address: Brunkebergstorg 8 Stockholm, Sweden Financial Calendar - preliminary release dates: October 24, 23 Interim report third quarter 23 Rating June 23 S&P Moody s Fitch R/I Short Long Short Long BFSR* Short Long Long A1 A P1 Aa3 B F1 A+ AA- Spintab A1 - P1 Aa3 - F1+ AA- - Hansabank - - P1 A1 C F2 A- - FIH - - P1 A * Bank Financial Strength Ratings