Restatement of net interest income and net gains and losses on financial items at fair value
When implementing reporting according to IFRS in 2005, Swedbank choose to report all interest income and interest expenses from trading assets and liabilities and derivatives as net gains and losses on financial items at fair value, together with market value changes on these instruments. The motive was to report all income from the trading book under the line item net gains and losses on financial items at fair value.For Swedbank Markets this reporting standard has worked well, giving a low volatility in reported net interest income. For the Swedbank Group, however, this created