Compared with fourth quarter 2014
· Improved result in exceptional market conditions
· Good cost control
· Continued lending growth in Sweden
· Stable net interest income but pressure from lower interest rates
· Lower net commission income due to seasonally lower customer activity,
less capital raising activity and lowered fund fees
· Net gains and losses on financial items at fair value benefited from high
activity in fixed income and FX trading
· Continued low credit impairments
· Continued strong capitalisation. Higher valuation of pension liabilities
and loan volume growth had a negative effect on the Common Equity Tier 1 capital
ratio
· Swedbank completed its first issuance of Additional Tier 1 Capital
instruments according to new European capital regulations to optimise its
capital structure
· International expansion in card acquiring through agreement with Finnish
customer
”I am pleased with how we handled the challenges in the first quarter. Our
strong financial starting point gives us the strength to continue to shape the
bank of the future”, says Michael Wolf, President and CEO at Swedbank.
Financial information Q1 Q4 Q1
SEKm 2015 2014 % 2014 %
Total income 9 379 3 9 320 3
9 618
of which net interest income 5 719 5 809 -2 5 483 4
Total expenses 4 168 4 293 -3 4 226 -1
Profit before impairments 5 450 5 086 7 5 094 7
Credit impairments 59 254 -77 -100
Profit for the period attributable 4 320 3 795 14 3 953 8
to the shareholders of Swedbank AB
Earnings per share total 3,88 3,41 3,57
operations, SEK, after dilution
Return on equity, total 14,9 13,3 14,5
operations, %
C/I-ratio 0,43 0,46 0,45
Common Equity Tier 1 capital 20,5 21,2 18,3
ratio, %
Credit impairment ratio, % 0,02 0,07 -0,03
Please read the full report in the pdf document attached or at
www.swedbank.com/ir.
Interim report January - March 2015
| Source: Swedbank AB
Attachments
