Interim report for the second quarter 2016

Birgitte Bonnesen,  President and CEO, comments:

“I am very pleased that the quarter’s profit highlights the stable profitability, high cost efficiency and strong capitalisation that Swedbank stands for today.”

Second quarter compared with first quarter 2016

• Strong profit in challenging environment

• Increased lending volumes supported net interest income

• Higher customer activity lifted net commission income

• Sale of Visa Europe generated positive one-off income

• Good cost control

• Solid credit quality, but higher credit impairments in the quarter due to provisions for individual commitments in oil-related sectors

• Strong capitalisation

• Ratings upgrade to AA- from Fitch

För ytterligare information vänligen kontakta:
Gregori Karamouzis, chef Investerarrelationer, tfn: 0727-40 63 38, gregori.karamouzis@swedbank.com  

Swedbank AB (publ) is required to disclose this information pursuant to Regulation (EU) No 596/2014 on market abuse, the Swedish Securities Market Act (2007:528) and/or the regulatory framework of Nasdaq Stockholm). This information was sent to be published on 21 July 2016 at 07:00 CET.

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 600 000 corporate customers and organisations with 273 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 30 June 2016 the group had total assets of SEK 2 476 billion. Read more at www.swedbank.com

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