Swedbank A

Quarterly Report • Apr 23, 2020

National Storage Mechanism | Additional information

RNS Number : 6175K

Swedbank AB

23 April 2020

Press Release

23 April, 2020

Swedbank's interim report for the first quarter 2020

Swedbank's President and CEO Jens Henriksson comments: "Our main job as a bank is to do what we can to help our customers get through this difficult situation."

Interim report for the first quarter 2020

First quarter 2020 compared with fourth quarter 2019

•Higher net interest income due to lower resolution fund fee and higher interest rates

•Lower income from cards and asset management negatively affected net commission income

•Negative net gains and losses on financial items due to negative valuation effects on derivatives and shareholdings

•Higher expenses due to the Swedish FSA's administrative fine

•Higher provisions for expected credit impairments related to the effects of Covid-19 and drop in oil prices 

•Solid capital and liquidity buffers*

1) Other income includes the items Net insurance, Share of profit or loss of associates, and Other income from the Group income statement.

http://www.rns-pdf.londonstockexchange.com/rns/6175K_1-2020-4-23.pdf

For more information, contact: 

Gregori Karamouzis, Head of Investor Relations, tel +46 72 740 63 38

Unni Jerndal, Press Officer, tel +46 73 092 11 80

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 Trading Act (1991:980) and the regulatory framework of Nasdaq Stockholm. This information was sent to be published on 23 April, 2020 at 07:00 CET.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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