Swedbank A — Earnings Release 2015

Oct 20, 2015

Interim report for the third quarter 2015

Interim report for the third quarter 2015

Swedbank's President and CEO, Michael Wolf comments:  "Efficiency improvements

are progressing faster than expected and are now allowing us to invest more to

enhance customer value"

Third quarter compared with second quarter 2015

· Improved net interest income despite lower market interest rates

· Continued lending growth in Sweden and Baltic countries

· Weaker stock market reduced net commission income

· Lower net gains and losses on financial items at fair value caused by wider

credit spreads and lower customer activity

· Successful cost control allows investments to be made at an earlier stage.

The goal to reduce total expenses to SEK 16bn for 2016 remains unchanged

· Continued high credit quality

· Stronger capitalisation

· Negative sales trend continues for funds

Financial information Q3 Q2 Jan-Sep Jan-Sep

SEKm 2015 2015 % 2015 2014 %

Total income 9 234 9 315 -1 28 167 29 925 -6

of which net interest income 5 811 5 704 2 17 234 16 833 2

Total expenses 3 879 4 047 -4 12 094 13 309 -9

Profit before impairments 5 355 5 268 2 16 073 16 616 -3

Impairment of intangible assets 254 254 1

Credit impairments 130 6 195 165 18

Tax expense 1) 1 012 1 538 -34 3 651 3 301 11

Profit for the period attributable 3 928 3 666 7 11 914 12 652 -6

to the shareholders of Swedbank AB

Earnings per share total 3.51 3.30 10.69 11.40

operations, SEK, after dilution

Return on equity, total 13.5 13.4 13.8 15.6

operations, %

C/I-ratio 0.42 0.43 0.43 0.44

Common Equity Tier 1 capital 23.0 22.4 23.0 20.7

ratio, %

Credit impairment ratio, % 0.04 0.00 0.02 0.02

1)   One-off tax expense of SEK

447m during second quarter 2015.

Swedbank AB (publ) is required to disclose this information pursuant to the

Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments

Trading Act (1991:980) and/or the regulatory framework  of Nasdaq Stockholm).

This information was sent to be published on 20 October 2015 at 07.00 CET.