Swedbank A

Earnings Release • Oct 21, 2010

Swedbank Q3

21 October, 2010

Interim Report January - September

Third quarter 2010 (compared with the second quarter

2010)

The Q3 result was SEK 2 591m (1 567)

- Earnings per share were SEK 2.23 (1.36)

- The return on equity was 11.3 per cent (7.0)

- The cost/income ratio was 0.55 (0.57)

- Net interest income increased by 5 per cent to SEK

3 980m (3 799)

- Profit before impairments excluding non-recurring

items increased by 2 per cent to SEK 3 409m (3 333)

- Net credit impairments decreased by 88 per cent to

SEK 120m (963). Provisions for loan losses amounted

to SEK -84m (846). Net write-offs amounted to SEK

204m (117). The credit impairment ratio was 0.03 per

cent (0.28)

- The Tier 1 capital ratio according to Basel 2

increased to 14.7 per cent (13.5 per cent on 31

December 2009). According to transition rules, the

Tier 1 capital ratio increased to 10.8 per cent

(10.4). The core Tier 1 capital ratio was 13.4 per

cent (12.0) according to Basel 2 and 9.8 per cent

(9.2) according to transition rules.

January-September 2010 (compared with January-

September 2009)

- The result for the period was SEK 4 694m (-8 707)

- Earnings per share were SEK 4.05 (-9.32)

- The return on equity was 6.9 per cent (-14.1)

- The cost/income ratio was 0.57 (0.51)

- Net interest income decreased by 27 per cent to SEK

11 802m (16 063)

- Profit before impairments excluding non-recurring

items decreased by 22 per cent to SEK 10 018m (12

875)

- Net credit impairments amounted to SEK 3 293m (19

638). Provisions for loan losses amounted to SEK 2

543m (18 028). Net write-offs amounted to SEK 750m (1

610). The credit impairment ratio was 0.32 per cent

(1.85).

Read the full report at www.swedbank.com/ir

Swedbank promotes a sound and sustainable financial

situation for the many people, households and

companies. Our vision is to contribute to a

development "Beyond Financial Growth". As a leading

bank in the home markets Sweden, Estonia, Latvia and

Lithuania, Swedbank offers a wide range of financial

services and products. Swedbank has 9.5 million

retail customers and 535,000 corporate customers with

approximately 400 branches in Sweden and over 200

branches in the Baltic countries. The group is also

present in other Nordic countries, the U.S., China,

Russia and Ukraine. As of September 30 2010 the group

had total assets of SEK 1,846 billion. Read more at

www.swedbank.com

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