TIDM81BO

RNS Number : 3806O

Swedbank AB

31 January 2023

Press Release

January 31, 2023

Swedbank's Year-end report 2022

Swedbank's President and CEO Jens Henriksson comments: "Swedbank will have a sustainable return on equity of 15 per cent".

   --    Strong result with growing net interest income during the year 
   --    Good credit quality 
   --    Business priorities and financial plan for sustainable profitability announced 
   --    Adjusted risk exposure amount - capital buffer decreases to 3.4 per cent 
   --    Proposed dividend of SEK 9.75 per share 

http://www.rns-pdf.londonstockexchange.com/rns/3806O_1-2023-1-31.pdf

 
Financial information                           Q4     Q3       Full-year  Full-year(1) 
 
SEKm                                          2022   2022    %       2022          2021% 
==========================================  ======  =====  ===  =========  ============ 
 
                                                       14              53            47 
Total income                                16 124    030   15        221           681  12 
  Net interest income                       10 921  8 360   31     33 157        27 048  23 
  Net commission income                      3 448  3 643   -5     14 223        14 853  -4 
  Net gains and losses on financial items      763    945  -19      1 887         2 048  -8 
  Other income(2)                              992  1 082   -8      3 954         3 7326 
                                                                       21            203 
Total expenses                               5 750  5 329    8        415           847 
Profit before impairments, Swedish                                     31            26 
 bank tax and resolution fees               10 373  8 701   19        806           834  19 
Impairment of intangible and tangible 
 assets                                        684    453   51      1 137            56 
Credit impairment                              679    602   13      1 479           170 
Swedish bank tax and resolution fees(3)        439    466   -6      1 831           791 
                                                                       27            256 
Profit before tax                            8 571  7 180   19        358           817 
Tax expense                                  1 759  1 439   22      5 478         4 945  11 
                                                                       21            205 
Profit for the period                        6 812  5 741   19        880           872 
Profit for the period attributable 
 to:                                                                   21            205 
 Shareholders of Swedbank AB                 6 813  5 737   19        877           871 
==========================================  ======  =====  ===  =========  ============ 
 
Earnings per share, SEK, after dilution       6.05   5.10           19.43         18.56 
------------------------------------------          -----  --- 
Return on equity, %                           15.8   13.9            13.3          13.2 
------------------------------------------          -----  --- 
C/I ratio                                     0.36   0.38            0.40          0.44 
------------------------------------------          -----  --- 
Common Equity Tier 1 capital ratio, 
 %                                            17.8   18.5            17.8          18.3 
------------------------------------------          -----  --- 
Credit impairment ratio, %                    0.14   0.13            0.08          0.01 
==========================================  ======  =====  ===  =========  ============ 
1) Presentation of the Income statement has been changed, see note 
 28. 
2) Other income includes the items Net insurance, Share of profit 
 or loss of associates and joint ventures, and Other income from 
 the Group income statement. 
3) The Swedish Bank tax (Risk tax on credit institutions) was introduced 
 from 1 January 2022. 
 

Contact:

   Annie Ho                                                                        Unni Jerndal 
   Head of Investor Relations                                            Senior Advisor 
   annie.ho@swedbank.com                                              unni.jerndal@swedbank.com 
   +46 70 343 7815                                                            +46 73 092 1180 

This disclosure contains information that Swedbank is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on January 31, 2023, at 07:00 CET.

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END

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January 31, 2023 02:00 ET (07:00 GMT)

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