Swedbank Mortgage Interim report January - June 2009

Stockholm, 20 July 2009 Operating profit amounted to SEK 1 813m (1 613) Net interest income increases 12 % to SEK 2 041m The funding situation has improved

Profit analysis Operating profit amounted to SEK 1 813m (1 613). Net interest income was SEK 212m higher than the previous year and amounted to SEK 2 041m (1 829). The average lending margin was higher and the volumes have grown, which have contributed to an improved net interest income. The funding situation has improved slightly and contributes positively. The strategy of reducing liquidity risk by extending the maturities of the outstanding funding has had a negative effect on net interest income. Commission expenses, arising from business interchange with the savings banks and the partly owned banks, were SEK 332m (235). The increase is due to growing volumes and higher margins. Read the entire report in enclosed pdf-document or on www.swedbank.com/ir. The Swedbank Mortgage Group (in Swedish: Swedbank Hypotek) comprises the parent company, Swedbank Mortgage AB (publ), and the wholly owned subsidiary Swedbank Skog och Lantbruk AB. Swedbank Mortgage is wholly owned by Swedbank AB (publ). Swedbank Mortgage provides long-term financing for residential housing, commercial properties, municipal investments and agricultural and forestry properties.