Swedbank A

Earnings Release • Jul 2, 2014

Sparbanken Öresund's financial impact on Swedbank

Sparbanken Öresund's financial impact on Swedbank

The Swedish Financial Supervisory Authority approved Swedbank's

acquisition of Sparbanken Öresund on 16 May. On receipt of all the

authorisations, the acquisition was completed on 20 May and integration

work was begun. The acquired portions of Sparbanken Öresund are being

consolidated as of 21 May.

Preliminary financial impact on Swedbank's income statement during the

period 21 May to 30 June1 (SEKm).

Total

income

544

of which net interest income

53

of which net commission income                                    18

of which other income

473

of which badwill  2

461

Total

expenses

676

of which restructuring costs 2

591

Tax expense

2                                                                   -131

Profit after

tax

-5

1 Excluding the impact of Sparbanken Skåne, where Swedbank owns 22 per

cent.

2 Non-recurring items in connection with the acquisition, including

positive tax effect of SEK 130m.

Integration costs, in the form of restructuring costs, are somewhat

higher than what had previously been estimated. At the same time, larger

surplus values have been identified in the acquired operations which

entailed a somewhat larger badwill item.

The acquisition's impact on Swedbank's volumes and risk exposure amount

as of 30 June (SEKbn).

Loans to the

public                                                              16

Deposits from the public

12

Risk exposure

amount                                                       15

Sparbanken Öresund's H1 2014 estimated results3), if the acquisition had

not taken place (SEKm).

Total

income

544

of which net interest income

338

of which net commission income                                 142

of which other

income                                                        63

Total

expenses

418

Tax

expense

22

Profit after tax

87

3 The actual results for the first 5 months of the year and forecast for

June. The 8 branches sold on to Sparbanken Skåne are included and

account for around SEK 200m of income, around SEK 45m of expenses and

around SEK 121m of profit after tax.

For further information, please contact:

Gregori Karamouzis, Head of Investor Relations, Swedbank tel: +46 727-40

63 38 or ir@swedbank.com

Swedbank promotes a sound and sustainable financial situation for the

many people, households and companies. Our vision is to contribute to

development "Beyond Financial Growth". As a leading bank in the home

markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide

range of financial services and products. Swedbank has 8 million retail

customers and around 556 000 corporate customers and organisations with

305 branches in Sweden and approximately 180 branches in the Baltic

countries. The group is also present in other Nordic countries, the US

and China. As of 31 December 2013 the group had total assets of SEK

1 820 billion. Read more at www.swedbank.com