23 October 2024
Swedbank's President and CEO Jens Henriksson comments: "Swedbank delivers a strong result."
- Strong quarter further supported by positive one-off and timing effects.
- Solid credit quality.
- Most loved brand in the Baltic countries for sixth consecutive year.
| Financial information | Q3 | Q2 | Jan-Sep | Jan-Sep | ||
| SEKm | 2024 | 2024 | % | 2024 | 2023 | % |
| Total income | 19 146 | 18 237 | 5 | 55 470 | 54 028 | 3 |
| Net interest income | 12 229 | 12 165 | 1 | 36 993 | 37 605 | -2 |
| Net commission income | 4 286 | 4 169 | 3 | 12 430 | 11 334 | 10 |
| Net gains and losses on financial items | 1 170 | 911 | 28 | 2 763 | 2 093 | 32 |
| Other income¹ | 1 461 | 991 | 47 | 3 283 | 2 997 | 10 |
| Total expenses | 5 986 | 6 465 | -7 | 18 636 | 17 689 | 5 |
| of which administrative fines | 0 | 0 | 0 | 887 | -100 | |
| Profit before impairments, bank taxes and resolution fees | 13 160 | 11 772 | 12 | 36 834 | 36 339 | 1 |
| Impairment of tangible and intangible assets | 0 | 32 | -100 | 32 | 13 | |
| Credit impairments | 271 | -289 | 126 | 1 311 | -90 | |
| Bank taxes and resolution fees | 1 012 | 1 045 | -3 | 3 162 | 2 472 | 28 |
| Profit before tax | 11 876 | 10 983 | 8 | 33 513 | 32 542 | 3 |
| Tax expense | 2 497 | 2 388 | 5 | 7 112 | 6 734 | 6 |
| Profit for the period | 9 379 | 8 595 | 9 | 26 401 | 25 808 | 2 |
| Earnings per share, SEK, after dilution | 8.30 | 7.61 | 23.37 | 22.90 | ||
| Return on equity, % | 18.4 | 17.5 | 17.5 | 18.9 | ||
| C/I ratio | 0.31 | 0.35 | 0.34 | 0.33 | ||
| Common Equity Tier 1 capital ratio, % | 20.4 | 20.1 | 20.4 | 18.7 | ||
| Credit impairment ratio, % | 0.06 | -0.06 | 0.01 | 0.09 | ||
| 1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures, and Other income from the Group income statement. | ||||||
Contact:
Annie Ho, Head of Investor Relations, tel. +46 70 343 78 15
Charlotte Nilsson, Media Relations Manager, tel. +46 76 534 66 12
This information constitutes inside information that Swedbank is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, 23 October 2024, at 07:00 CEST.
Swedbank empowers the many people and businesses to create a better future. Our vision is a financially sound and sustainable society. Swedbank Group is the leading bank with over 7 million retail customers and 550 000 corporate customers in our four home markets Sweden, Estonia, Latvia and Lithuania. Swedbank Group is also present in other Nordic countries, the U.S. and China. Together we make your financial life easier. Find out more: www.swedbank.com
