Swedbank: Interim report January - March

23rd April 2009

Swedbank: Interim report January  -  March

The result for the period Q1, 2009

• The profit for the period was SEK -3 358m (2 900). Excluding impairment of
intangible assets of SEK 1 305m and one-off charge for incorrect fund fees in
Swedbank Robur of SEK 346m after tax, profit for the period was SEK -1 707m 

• Excluding these items the operating profit amounted to SEK -1 572m

• Earnings per share was SEK -4.34 (SEK 5.26)

• The return on equity was negative (16.8 per cent)

• The cost/income ratio was 0.49 (0.53) 

• Net interest income increased by 11 per cent to SEK 5 803m (5 241)

• Impairment losses on loans amounted to SEK 6 845m (288). Provisions for loan
losses amounted to SEK 6 552m (235). Net write-offs amounted to SEK 293m (53).
Of total provisions, additional collective provisions accounted for SEK 3 680m,
due to the rapidly deteriorating macro-economic situation. The loan loss ratio
was 2.16 per cent (0.10)

• The tier 1 capital ratio was 10.8 per cent according to the new rules (11.1
per cent on 31 December 2008) and 9.3 per cent (8.4) according to transition
rules 


Read the whole report in the pdf-document attached or on www.swedbank.com.



Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9.4 million retail customers and 600,000
corporate customers with 419 branches in Sweden, 278 branches in the Baltic
countries and another 215 branches in Ukraine. The group is also present in
Copenhagen, Helsinki, Kaliningrad, Luxembourg, Moscow, New York, Oslo, Shanghai,
St. Petersburg and Tokyo. As of December 2008 the group had total assets of SEK
1,812 billion and approximately 21,000 employees. For more information about
Swedbank, please visit www.swedbank.com.