Swedbank A

Earnings Release • Jan 23, 2025

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, Head of Investor Relations, +46 70 343 78 15 Charlotte Nilsson, 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