Interim Report January- March


First quarter 2012
Compared with the fourth quarter 2011

  · The result for
the quarter amounted to SEK 3 425m (965)
  · Earnings per share before dilution
amounted to SEK 2.21* (0.88) and earnings per share after dilution amounted to
SEK 2.20* (0.88)
  · The return on equity was 14.0 per cent (3.9)
  · The
cost/income ratio was 0.48 (0.57)
  · Net interest income increased by 5 per
cent to SEK 5 208m (4 967)
  · Profit before impairments increased by 29 per
cent to SEK 4 768m (3 709)
  · Swedbank reported net credit impairments of SEK
172m (net recoveries of 174)
  · The core Tier 1 capital ratio was 15.9 per
cent according to Basel 2 (15.7 per cent on 31 December 2011). The core Tier 1
capital ratio according to Basel 3 was 14.9** per cent (14.7 per cent on 31
December 2011).

First quarter 2012
Compared with the first quarter 2011
· The result for the period amounted to SEK 3 425m (3 852)
  · Earnings per
share before dilution amounted to SEK 2.21* (2.47) and earnings per share after
dilution amounted to SEK 2.20* (2.47)
  · The return on equity was 14.0 per
cent (16.1)
  · The cost/income ratio was 0.48 (0.53)
  · Net interest income
increased by 16 per cent to SEK 5 208m (4 501)
  · Profit before impairments
increased by 17 per cent to SEK 4 768m (4 068)
  · Swedbank reported net credit
impairments of SEK 172m (net recoveries of 972)

* The calculation of earnings
per share is specified on page 40.
** Swedbank’s estimate based on current
knowledge of future regulation.

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

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