Swedbank A

Earnings Release • Jul 18, 2014

Interim Report January - June

Interim Report January - June

Second quarter 2014

Compared with first quarter 2014

· Ÿ  The result for continuing operations amounted to SEK 4 369m

(3 980m) 1)

· Ÿ  Earnings per share for continuing operations amounted to SEK 3.96

(3.62) before dilution and SEK 3.94 (3.59) after dilution

· Ÿ  The return on equity for continuing operations was 16.6 per cent

(14.6)

· Ÿ  The cost/income ratio was 0.47 (0.45), excluding Sparbanken

Öresund 0.43

· Ÿ  Net interest income amounted to SEK 5 521m (5 483), excluding

Sparbanken Öresund SEK 5 473m

· Ÿ  Profit before impairments increased by 9 per cent to SEK 5 536m

(5 094) Excluding Sparbanken Öresund it amounted to SEK 5 698m

· Ÿ  Swedbank reported credit impairments of SEK 30m (recoveries 100)

· Ÿ  The Common Equity Tier 1 ratio was 20.9 per cent (18.3 per cent

as of 31 December 2013), including use of the advanced internal ratings

-based approach 3)

January-June 2014

Compared with January-June 2013

· Ÿ  The result for the period for continuing operations amounted to

SEK 8 349m (7 394) 1)

· Ÿ  Earnings per share for continuing operations amounted to SEK 7.58

(6.73) before dilution and SEK 7.53 (6.69) after dilution 2)

· Ÿ  The return on equity for continuing operations was 15.5 per cent

(14.7)

· Ÿ  The cost/income ratio was 0.46 (0.45), excluding Sparbanken

Öresund 0.44

· Ÿ  Net interest income increased by 2 per cent to SEK 11 004m

(10 762), excluding Sparbanken Öresund SEK 10 956m

· Ÿ  Profit before impairments increased by 7 per cent to SEK 10 630m

(9 892), excluding Sparbanken Öresund SEK 10 792m

· Ÿ  Swedbank reported recoveries of SEK 70m (credit impairments 148)

1) Russia and Ukraine are reported as discontinued operations. The

Ukrainian operations were divested during the second quarter 2013.

2) Including deduction of preference share dividend, earnings per share

for Jan-Jun 2013 were SEK 3.07 for total operations after dilution. The

calculations are specified on page 53.

3) The Common Equity Tier 1 ratios for 2013 are based on Swedbank's

previous calculations according to the new regulations.

Read the full interim report at www.swedbank.com/ir or in the pdf

document attached.