REG - Swedbank AB - Swedbank’s Interim report third quarter 2024

Swedbank ABAnnouncement

23/10/2024 08:15

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RNS Number : 2036J  Swedbank AB  23 October 2024

 

Press Release

 

23 October 2024

 

Swedbank's Interim report for the third quarter 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.

http://www.rns-pdf.londonstockexchange.com/rns/2036J_1-2024-10-22.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2036J_1-2024-10-22.pdf)

 

 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        887
 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           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 (mailto:annie.ho@swedbank.com) , Head of Investor Relations, tel. +46
70 343 78 15

Charlotte Nilsson (mailto:charlotte.nilsson@swedbank.se) , 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

 

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