Adjusted profit sharing reserve in Baltic Banking

Adjusted profit sharing reserve in Baltic Banking

The performance based remuneration reserve for the business area Baltic Banking
has been revised as a result of over provisioning during 2006 and 2007.
Performance based remuneration provisions in Baltic Banking are accrued as a
percentage of annual Economic Value Added (EVA). Substantial increase of EVA
over the recent years has resulted in larger reserves than forecasted. 
The accumulated reserves will be reduced by about SEK 185m during Q2 2008, as a
result performance based staff costs in Baltic Banking (and Hansabank as a legal
entity) will decrease with the same amount. The model for future provisions has
been adjusted.


For further information: 
Johannes Rudbeck, Head of Investor Relations, Swedbank, phone: +46 70 582 56 56


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where we are present. Swedbank has 9 million retail customers and 600,000
corporate customers with more than 459 branches in Sweden, 300 branches in the
Baltic countries and another 190 branches in Ukraine. The group is also present
in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York,
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total assets of SEK 1,600 billion and approximately 22,000 employees. For more
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