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Swedbank to Repurchase Own Shares

^{Published on 2011-04-27 23:21:01 - Market Wire}
 

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

The Board of Directors of Swedbank (STO:SWEDA)(LSE:SWK)(Pink Sheets:SWDBF) has decided - based on the resolution by the Annual General Meeting on 25 March - to repurchase up to 10 percent of total outstanding shares in Swedbank, corresponding to approximately 116 million shares. Preference shares as well as ordinary shares will be repurchased.

The shares will be repurchased on Nasdaq OMX Stockholm AB at a price that falls within the market price range prevailing at the time of purchase, i.e. the range between the highest bid price and lowest ask price. Repurchases are permitted at the earliest the day after publication of the banka™s results for the first quarter of 2011, on 29 April, and until the Annual General Meeting 2012.

The repurchases will take into consideration Swedbanka™s capital situation, current regulations and market conditions. The purpose of the repurchase programme is to continuously adapt Swedbanka™s capital structure to its current capital needs, and considering the previously communicated core Tier 1 capital ratio target of at least 13 percent.

The repurchase of own shares is expected to have a positive effect on the key ratios Earnings per Share and Return on Equity. Swedbank currently has no holding of own shares except for those held in order to facilitate its securities operations.

In addition to reporting via Nasdaq OMX Stockholm AB updated information concerning the repurchases will be found on Swedbanka™s website, [ 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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