January - June 2008

January - June 2008

Profit for the period rose by 8 percent compared with the first half year 2007
Profit for the period amounted to SEK 6 504m (6 022)
Earnings per share increased to SEK 12.62 (11.68)
Return on equity was 18.7 percent (19.5)
The cost/income ratio was 0.50 (0.50)
Net interest income increased by 16 percent to SEK 10 536m (9 092)
Loan losses amounted to SEK 711m (151), corresponding to a loan loss ratio of
0.12 percent (0.03)
The tier 1 capital ratio was 8.8 percent according to the new rules (8.5 percent
on 31 December 2007) and 6.7 percent (6.2) according to the transition rules.

Higher income in second quarter compared with first quarter 2008
Profit for the period increased by 24 percent to SEK 3 604m (2 900)
Earnings per share increased to SEK 6.99 (5.63)
Return on equity increased to 20.6 percent (16.8)
The cost/income ratio was 0.47 (0.53)
Income increased by 12 percent
Loan losses amounted to SEK 423m (288), corresponding to a loan loss ratio of
0.14 percent (0.10).

CEO comment
Swedbank's stable earning capacity led to solid results in all business areas
for the first half of 2008. The profit of SEK 6.5bn for the first six months is
our highest ever. In light of current market conditions, Swedbank's stable
earning capacity is a huge asset.
The Board of Directors has approved a new capital adequacy objective: that the
tier 1 capital ratio shall be 8.5-9.0 percent when Basel 2 is fully implemented.
Given its risk profile, Swedbank is considered well capitalized.
Funding operations continued to perform well in the second quarter. The
conversion to covered bonds on 21 April has resulted in better relative funding
terms at the same time as liquidity has improved.
The Baltic region's macroeconomic development was weaker than expected during
the second quarter, partly as an effect of economic uncertainty in the rest of
Europe. While this will affect Baltic Banking's development, the business area
is expected to maintain a robust earning capacity and net profit. Credit quality
remains high in both the Baltic region and Sweden.
Swedbank, interim

For further information, please contact:

Jan Lidén, President and CEO
+ 46 8 585 922 27

Mikael Inglander, CFO
+46 8 585 913 14

Johannes Rudbeck, Head of Investor Relations
+46 8 585 93 322, +46 70 582 56 56

Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9 million retail customers and 600,000
corporate customers with more than 459 branches in Sweden, 300 branches in the
Baltic countries and another 190 branches in Ukraine. The group is also present
in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York,
Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2007 the group had
total assets of SEK 1,600 billion and approximately 22,000 employees. For more
information about Swedbank, please visit www.swedbank.com.