Year-end report 2014

Fourth quarter 2014
Compared with third quarter 2014

  · The result for continuing operations amounted to SEK 3 798m (4 562)
  · Earnings per share for continuing operations were SEK 3.45 (4.14) before
dilution and SEK 3.42 (4.10) after dilution
  · The return on equity for continuing operations was 13.3 per cent (16.6)
  · The cost/income ratio was 0.46 (0.41)
  · Net interest income amounted to SEK 5 809m (5 829)
  · Profit before impairments was SEK 5 086m (5 986)
  · Credit impairments were SEK 254m (235)
  · The Common Equity Tier 1 capital ratio was 21.2 per cent (20.7)

Full-year 2014
Compared with full-year 2013

  · The result for the period for continuing operations was SEK 16 709m (15 241)
  · Earnings per share for continuing operations were SEK 15.17 (13.89) before
dilution and SEK 15.05 (13.79) after dilution1)
  · The return on equity for continuing operations was 15.2 per cent (14.7)
  · The cost/income ratio was 0.45 (0.45)
  · Net interest income amounted to SEK 22 642m (22 029)
  · Profit before impairments amounted to SEK 21 702m (20 290)
  · Credit impairments were SEK 419m (60)
  · The Common Equity Tier 1 capital ratio was 21.2 per cent (18.3)
  · The proposed dividend is SEK 11.35 per share (10.10)

1) Including deduction of preference share dividend, earnings per share for full
-year 2013 were SEK 10.11 for total operations after dilution. The calculations
are specified on page 54.

Read the full report in the pdf document attached or at www.swedbank.com/ir