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Interim Report January - June

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^{Published in Business and Finance on Wednesday, July 21st 2010 at 23:20 GMT by Market Wire}  

STOCKHOLM--([ BUSINESS WIRE ])--Regulatory News:

Swedbank (STO:SWEDA)(LSE:SWK)(Pink Sheets:SWDBF):

Second quarter 2010, compared with the first quarter 2010

• The result for the period was SEK 1 567m (536)
• Earnings per share were SEK 1.36 (0.46)
• The return on equity was 7.0 per cent (2.4)
• The cost/income ratio was 0.57 (0.57)
• Net interest income decreased by 6 per cent to SEK 3 799m (4 023)
• Profit before impairments excluding non-recurring items increased by 2 per cent to SEK 3 333m (3 276)
• Credit impairments amounted to SEK 963m (2 210). Provisions for loan losses amounted to SEK 846m (1 781). Net write-offs amounted to SEK 117m (429). The credit impairment ratio was 0.28 per cent (0.64)
• The Tier 1 capital ratio according to Basel 2 increased to 14.0 per cent (13.5 per cent on 31 December 2009). According to transition rules, the Tier 1 ratio increased to 10.5 per cent (10.4). The core Tier 1 capital ratio was 12.7 per cent (12.0) according to Basel 2 and 9.5 per cent (9.2) according to the transition rules.

January-June 2010, compared with January-June 2009

• The result for the period was SEK 2 103m (-5 370)
• Earnings per share were SEK 1.82 (-5.75)
• The return on equity was 4.7 per cent (-12.8)
• The cost/income ratio was 0.57 (0.48)
• Net interest income decreased by 29 per cent to SEK 7 822m (11 046)
• Profit before impairments excluding non-recurring items decreased by 29 per cent to SEK 6 609m (9 282)
• Credit impairments amounted to SEK 3 173m (13 517). Provisions for loan losses amounted to SEK 2 627m (12 690). Net write-offs amounted to SEK 546m (827). The credit impairment ratio was 0.46 per cent (1.91)

Please read the full report in the pdf-document attached ([ http://feed.ne.cision.com/client/waymaker1//Commands/File.aspx?id=1169491 ]) or on [ www.swedbank.com/ir ]

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to a development aBeyond Financial Growtha. As a leading bank in the home markets Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 9.5 million retail customers and 535,000 corporate customers with nearly branches in Sweden and over 200 branches in the Baltic countries. The group is also present in other Nordic countries, the U.S., China, Russia and Ukraine. As of June 30 2010 the group had total assets of SEK 1,905 billion. Read more at [ www.swedbank.com ]

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