Swedbank A

Earnings Release • Jul 17, 2020

17 July, 2020

Swedbank's Interim report for the second quarter 2020

Swedbank'sPresident and CEO JensHenriksson comments:

"Swedbank posted a strong result in very uncertain times."

Second quarter 2020 compared with first quarter 2020:

• Higher net interest income due to higher business volumes
• Lower income from cards and asset management negatively affected net commission income
• Positive net gains and losses on financial items due to positive valuation effects and high customer activity
• Lower investigation related expenses due to Covid-19

• Lower provisions for expected credit impairments related to the effects of Covid-19 • Solid capital and liquidity buffers

Financial information SEKm	Q 2 2020	Q 1 2020	$\%$	Jan-Jun 2020	Jan-Jun 2019	%
Net interest income	6886	6686	3	13572	13028	4
Net commission income	2925	3 2 2 3	-9	6 1 4 8	6272	$-2$
Net gains and losses on financial items	1 3 9 8	$-322$		1076	1954	$-45$
Other income 1)	867	645	34	1512	1524	$-1$
Total expenses	4843	9370	-48	14 213	9 271	53
of which adminstrative fine		4000		4 0 0 0	m
Profit before impairment	7 2 3 3	862		8095	13507	$-40$
Impairment of intangible and tangible assets		O			2
Credit impairment	1 2 3 5	2 151	$-43$	3 3 8 6	327
Tax expense	1 1 5 4	398		1552	2562	$-39$
Profit for the period attributable to the shareholders of Swedbank AB	4845	$-1687$		3 1 5 8	10606	$-70$
Earnings per share, SEK, after dilution	4.31	$-1.50$		2.81	9.46
Return on equity, %	13.5	$-4.8$		4.4	15.9
C/I ratio	0.40	0.92		0.64	0.41
Common Equity Tier 1 capital ratio, %	16.4	16.1		16.4	16.1
Credit impairment ratio, %	0.28	0.51		0.40	0.04

For more information, contact:

Gregori Karamouzis, Head of Investor Relations, tel + 46 72 740 6338 Unni Jerndal, Press Officer, tel +46 73 092 1180

This announcement involves the disclosure of inside information

Swedbank AB (publ) is required to disclose this information pursuant to Regulation (EU) No 596/2014 on market abuse, the Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments TradingAct (1991:980) and the regulatory framework of Nasdaq Stockholm. This information was sent to be published on 17 July, 2020 at 07:00 CET.