Swedbank (SWED) Investor presentation summary

Strategic direction and business priorities

• Focus on leveraging a proven business model and pricing strategy, growing share of wallet, expanding in prioritized segments, and improving operational excellence.

• Maintains a large customer base in Sweden and the Baltics, with over 7 million private and 550,000 corporate customers.

• Digital and physical presence with strong partnerships and a diversified product range.

• Emphasizes cost efficiency, low risk, and strong capital generation, targeting a return on equity (RoE) of at least 15%.

• Ongoing focus on sustainability, customer guidance, and a scalable infrastructure.

Financial performance Q3 2024

• Total income reached SEK 19.1bn, up 5% quarter-on-quarter; net profit was SEK 9.4bn.

• Return on equity at 18.4%, cost/income ratio at 0.31, and credit impairment ratio at 6 bps.

• CET1 capital ratio at 20.4% with a buffer of 520bps; LCR at 167% and NSFR at 126%.

• Lending volumes stable at SEK 1,799bn; deposit volumes at SEK 1,282bn.

• Net interest income grew slightly, supported by higher lending and deposit volumes.

Asset quality and risk management

• Credit impairment ratio remains low at 0.06%; total credit impairment provision ratio at 0.37%.

• Property management loans represent 17% of total loans, with stable average loan-to-value ratios.

• Strong underwriting criteria and conservative risk profile, with 96% of private mortgage portfolio below 70% LTV.

• Continuous dialogue with customers and focus on strong cash flows and collateral.