Interim report for the third quarter 2016
Birgitte Bonnesen, President and CEO comments: “We have decided to speed up the transformation to the modern bank we want to be, where customers can do all their daily banking in our digital channels.”
Third quarter 2016 compared with second quarter 2016
Strong profit driven by income increases
Higher net interest income due to increased volumes and lending margins
Net commission income benefited from higher income from cards and asset management
Increased demand for interest rate hedging positive for net gains and losses on financial items
Stable credit quality
Swedbank AB (publ) is required to disclose this information pursuant to Regulation (EU) No 596/2014 on market abuse, the Swedish Financial Instruments Trading Act (1991:980) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 25 October 2016 at 07.00 CET.
For further information please contact:
Gregori Karamouzis, Head of Investor Relations, Swedbank, phone +46 727-40 63 38
Gabriel Francke Rodau, Head of Group Communication,Swedbank, phone +46 70 144 89 66
Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the 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 640 000 corporate customers and organisations with 266 branches in Sweden and 143 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 July 2016 the group had total assets of SEK 2 476 billion.
Read more at www.swedbank.com