Swedbank to Repurchase Own Shares

Press Release 28 April, 2011

Swedbank to Repurchase Own Shares

The Board of Directors of Swedbank has decided - based on the resolution by the
Annual General Meeting on 25 March - to repurchase up to 10 percent of total
outstanding shares in Swedbank, corresponding to approximately 116 million
shares. Preference shares as well as ordinary shares will be repurchased.

The shares will be repurchased on Nasdaq OMX Stockholm AB at a price that falls
within the market price range prevailing at the time of purchase, i.e. the range
between the highest bid price and lowest ask price. Repurchases are permitted at
the earliest the day after publication of the bank's results for the first
quarter of 2011, on 29 April, and until the Annual General Meeting 2012. 

The repurchases will take into consideration Swedbank's capital situation,
current regulations and market conditions. The purpose of the repurchase
programme is to continuously adapt Swedbank's capital structure to its current
capital needs, and considering the previously communicated core Tier 1 capital
ratio target of at least 13 percent.

The repurchase of own shares is expected to have a positive effect on the key
ratios Earnings per Share and Return on Equity. Swedbank currently has no
holding of own shares except for those held in order to facilitate its
securities operations.

In addition to reporting via Nasdaq OMX Stockholm AB updated information
concerning the repurchases will be found on Swedbank's website,
www.swedbank.com/ir.

 
For further information, please contact:
Jonas Erikson, Head of Group Treasury, Swedbank, phone: +46 8 585 908 89
Thomas Backteman, Head of Corporate Affairs, Swedbank, phone: +46 708 311 166

Swedbank promotes a sound and sustainable financial situation for the many
people, households and companies. Our vision is to contribute to a development
“Beyond Financial Growth”. As a leading bank in the home markets Sweden,
Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial
services and products. Swedbank has 9.5 million retail customers and around
680,000 corporate customers with 340 branches in Sweden and over 200 branches in
the Baltic countries. The group is also present in other Nordic countries, the
U.S., China, Russia and Ukraine. As of 31 March, 2011 the group had total assets
of SEK 1,745 billion. Read more at www.swedbank.com