Swedbank's President and CEO, Michael Wolf comments: “Efficiency improvements are progressing faster than expected and are now allowing us to invest more to enhance customer value" Third quarter compared with second quarter 2015 · Improved net interest income despite lower market interest rates · Continued lending growth in Sweden and Baltic countries · Weaker stock market reduced net commission income · Lower net gains and losses on financial items at fair value caused by wider credit spreads and lower customer activity · Successful cost control allows investments to be made at an earlier stage. The goal to reduce total expenses to SEK 16bn for 2016 remains unchanged · Continued high credit quality · Stronger capitalisation · Negative sales trend continues for funds Financial information Q3 Q2 Jan-Sep Jan-Sep SEKm 2015 2015 % 2015 2014 % Total income 9 234 9 315 -1 28 167 29 925 -6 of which net interest income 5 811 5 704 2 17 234 16 833 2 Total expenses 3 879 4 047 -4 12 094 13 309 -9 Profit before impairments 5 355 5 268 2 16 073 16 616 -3 Impairment of intangible assets 254 254 1 Credit impairments 130 6 195 165 18 Tax expense 1) 1 012 1 538 -34 3 651 3 301 11 Profit for the period attributable 3 928 3 666 7 11 914 12 652 -6 to the shareholders of Swedbank AB Earnings per share total 3.51 3.30 10.69 11.40 operations, SEK, after dilution Return on equity, total 13.5 13.4 13.8 15.6 operations, % C/I-ratio 0.42 0.43 0.43 0.44 Common Equity Tier 1 capital 23.0 22.4 23.0 20.7 ratio, % Credit impairment ratio, % 0.04 0.00 0.02 0.02 1) One-off tax expense of SEK 447m during second quarter 2015. Swedbank AB (publ) is required to disclose this information pursuant to the Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments Trading Act (1991:980) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 20 October 2015 at 07.00 CET.
Interim report for the third quarter 2015
| Source: Swedbank AB
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