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Interim Report January - March

^{Published on 2011-04-27 23:21:03 - Market Wire}
 

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

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

28 April, 2011

First quarter 2011(compared with the fourth quarter 2010)

- The quarterly result amounted to SEK 3 852m (2 750)

- Earnings per share amounted to SEK 2.47* (2.37)

- The return on equity was 16.1 per cent (11.7)

- The cost/income ratio was 0.52 (0.58)

- Net interest income was unchanged at SEK 4 527m (4 527)

- Profit before impairments increased by 21 per cent to SEK 4 068m (3 368)

- Swedbank reported net recoveries of SEK 972m (483)

- The core Tier 1 capital ratio was 14.9 per cent (13.9 per cent on 31 December 2010) according to Basel 2 and 10.4 per cent (10.1) according to transition rules. The Tier 1 capital ratio according to Basel 2 increased to 16.2 per cent (15.2). According to transition rules, the Tier 1 capital ratio increased to 11.2 per cent (11.0).

First quarter 2011(compared with the first quarter 2010)

- The quarterly result amounted to SEK 3 852m (536)

- Earnings per share amounted to SEK 2.47* (0.46)

- The return on equity was 16.1 per cent (2.4)

- The cost/income ratio was 0.52 (0.57)

- Net interest income increased by 13 per cent till 4 527m (4 023)

- Profit before impairments increased by 24 per cent to SEK 4 068m (3 276)

- Swedbank reported net recoveries of SEK 972m (credit impairments of 2 210).

Read the full report at [ 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 around 680,000 corporate customers with 340 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 31 March, 2011 the group had total assets of SEK 1,745 billion. Read more at [ www.swedbank.com ]

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