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Swedbank receives a remark and an administrative fine from the Swedish Supervisory Authority

The Swedish Financial Supervisory Authority (SFSA) today has informed that

Swedbank receives a remark and an administrative fine of MSEK 850. The decision

regards the IT incident in April 2022 where customers were displayed incorrect

account statements.

Swedbank regrets and has apologized to customers for the problems that the IT

incident caused. The bank has taken forceful measures to prevent this type of

incident from happening again.

"We take the SFSA's remark seriously, that Swedbank made a change to an IT

system without following the bank´s internal procedures and processes. We will

now analyse the decision", says Jens Henriksson, president and CEO Swedbank.

Swedbank has continuously, during and after the incident, informed the SFSA

according to established procedures.

Contact:

Unni Jerndal, Senior Advisor, +46 73 092 1180

Annie Ho, Head of Investor Relations, +46 70 343 7815

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

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