Interim Report January-September 2008
Focus on increased financial stability
January – September 2008
• Total income decreased by 9 percent and amounted to SEK 2,693m (2,958).
• Total expenses before profit share amounted to SEK 2,908m (1,608), of which SEK 1,182m in credit reserves.
• Net profit amounted to SEK -150m (266), corresponding to a profit per share of SEK -1.94 (3.52).
• Net inflow of SEK 14 billion to Asset Management since year-end.
Third quarter of 2008
• Total income decreased by 20 percent and amounted to SEK 852m (1,067).
• Total expenses before profit share amounted to SEK 1,604m (629). The third quarter includes SEK 40m (0) in restructuring costs and SEK 1,052m (50) in credit reserves, of which SEK 1,000m pertains to an individual credit commitment. This commitment comprises underlying collateral where the value cannot be estimated fully at present.
• Net profit amounted to SEK -362m (151), corresponding to a profit per share of SEK -4.66 (1.95).
• An action programme was initiated, reducing 40 positions in Sweden, and additional measures will be implemented during the fourth quarter.
• Assets under management of SEK 122 billion in Asset Management, net inflow of SEK 8 billion during the quarter.