Interim report for the second quarter 2017
Swedbank's President and CEO Birgitte Bonnesen comments: “During the second quarter we made several strategic decisions and implemented initiatives to create value-added for our customers.”
Second quarter 2017 compared with first quarter 2017
- Strong profit driven by higher income
- Increased mortgage volumes supported net interest income
- Net commission income benefited from higher card and asset management income
- Net gains and losses on financial items positively affected by higher FX trading activity
- Costs in line with expectations
- Additional provisions in oil related sectors
- Strong capitalisation
1) One-off income from sale of Hemnet of SEK 680m during first quarter 2017.
2) One-off income from VISA, SEK 2 115m during first half year 2016 of which Net gains and losses on financial items at fair value SEK 457m and Other income SEK 1 658m.
3) Other income in the table above includes the items Net insurance, Share of profit or loss of associates, and Other income from the Group income statement.
For more information, contact:
Gregori Karamouzis, Head of Investor Relations, Telephone +46 72 740 63 38
Josefine Uppling, Press Officer, Telephone +46 76 114 54 21
This announcement involves the disclosure of inside information
Swedbank AB (publ) is required to disclose this information pursuant to Regulation (EU) No 596/2014 on market abuse, the Swedish Securities Markets Act (2007:528), the Swedish Financial Instruments Trading Act (1991:980) and the regulatory framework of Nasdaq Stockholm. This information was sent to be published on 19 July, 2017 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 650 000 corporate customers and organisations with 241 branches in Sweden and 141 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 March 2017 the group had total assets of SEK 2 488 billion.
Read more at www.swedbank.com
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