Swedbank A

Earnings Release • Apr 23, 2020

Swedbank's Interim report for the first quarter 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."

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

[image] 1) Other income includes the items Net insurance, Share of profit or

loss of associates, and Other income from the Group income statement.

For more information, contact:

Gregori Karamouzis, Head of Investor Relations, tel + 46 72 740 6338

Unni Jerndal, Press Officer, tel +46 73 092 1180

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.

Swedbank encourages a sound and sustainable financial situation for the many

households and businesses. As a leading bank in our home markets of Sweden,

Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial

services and products. Swedbank has over 7 million retail customers and around

600 000 corporate customers and organisations with 168 branches in Sweden and 99

branches in the Baltic countries. The group is also present in other Nordic

countries, the US and China. As of 31 December, 2019 the group had operating

profit of SEK 24 420 million. Read more at www.swedbank.com