REG - Swedbank AB - Swedbank's Year-end report 2024

Swedbank ABAnnouncement

23/01/2025 08:00

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RNS Number : 3631U  Swedbank AB  23 January 2025

 

Press Release

 

23 January 2025

 

Swedbank's Year-end report 2024

Swedbank's President and CEO Jens Henriksson comments: "Swedbank once again
delivers a strong result supported by timing effects."

 

·    Income rose for the full-year

·    The return on equity was 17.1 per cent for the full-year

·    Strict cost control - the cost/income ratio for the full-year was
0.34

·    Credit quality is solid

·    Changed the Dividend Policy to between 60 and 70 per cent of the
annual profit

·    Proposed dividend for 2024 of 21 kronor and 70 öre per share,
corresponding to 70 per cent of the profit

·    New Investor Day before the summer

 

 Financial information                                        Q4          Q3                 Full-year    Full-year
 SEKm                                                         2024        2024        %      2024         2023         %

 Total income                                                 18 634      19 146      -3     74 104       73 057       1
 Net interest income                                          12 274      12 229      0      49 267       50 933       -3
 Net commission income                                        4 285       4 286       0      16 716       15 088       11
 Net gains and losses on financial items                      923         1 170       -21    3 687        2 938        25
 Other income¹                                                1 152       1 461       -21    4 435        4 098        8
 Total expenses                                               6 740       5 986       13     25 376       24 100       5
 of which administrative fines                                0           0           -12    0            887          -100
 Profit before impairments, bank taxes and resolution fees    11 894      13 160      -10    48 728       48 957       0
 Impairment of tangible and intangible assets                 757         0                  790          87
 Credit impairments                                           -394        271                -268         1 674
 Bank taxes and resolution fees                               858         1 012       -15    4 019        3 574        12
 Profit before tax                                            10 673      11 876      -10    44 187       43 622       1
 Tax expense                                                  2 208       2 497       -12    9 320        9 492        -2
 Profit for the period                                        8 465       9 379       -10    34 866       34 130       2

 Earnings per share, SEK, after dilution                      7.50        8.30               30.86        30.27
 Return on equity, %                                          15.8        18.4               17.1         18.3
 C/I ratio                                                    0.36        0.31               0.34         0.33
 Common Equity Tier 1 capital ratio, %                        19.8        20.4               19.8         19.0
 Credit impairment ratio, %                                   -0.08       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, +46
70 343 78 15

Charlotte Nilsson (mailto:charlotte.nilsson@swedbank.se) , Press communicator,
+46 76 534 66 12

 

This information constitutes inside information that Swedbank AB (publ.) is
obliged to make public pursuant to the EU Market Abuse Regulation (EU
no596/2014). The information was submitted for publication, through the agency
of the contact person set out above, January 23, 2025, at 07:00 CET.

 

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
(//www.swedbank.com)

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