January - June 2007

August 7, 2007


Net profit for the period increased by 19 percent compared with first half year 2006

· Profit for the period increased by 19 percent to SEK 6,022m (5,056)
· Earnings per share increased to SEK 11.68 (9.81)
· The return on equity increased to 19.5 percent (18.5)
· The cost/income ratio improved to 0.50 (0.53)
· Net interest income increased by 21 percent to SEK 9,092m (7,535)
· Operating profit increased by 18 percent to SEK 7,807m (6,635)
· Loan losses amounted to SEK 151m (-66)
· The tier 1 capital ratio amounted to 6.7 percent according to the new
rules (6.5 percent on December 31, 2006 according to the old rules).

Higher profit for second quarter compared with first quarter 2007

· Profit for the period improved by 7 percent to SEK 3,112m (2,910)
· Earnings per share increased to SEK 6.03 (5.65)
· The return on equity increased to 19.9 percent (18.9)
· The cost/income ratio improved to 0.50 (0.51)
· Income increased by 6 percent to SEK 8,226m (7,793)
· Operating profit increased by 5 percent to SEK 4,000m (3,807)
· Loan losses amounted to SEK 102m (49).

The CEO comments on the second quarter
Swedbank has continued its positive trend, and earnings per share increased by 19 percent during the first half year compared with the same period a year earlier. The profit trend has been especially strong in the Baltic countries.

Swedbank is in a very good position to continue to grow its earnings for some time to come. We have a stable, strong base in Sweden. At the same time we have generated very good growth in the Baltic region, which has also allowed us over the years to build up considerable experience in providing banking services in emerging markets. Through the acquisition of TAS-Kommerzbank, which was finalized on July 9, coupled with our Russian operations, we have paved the way for our long-term development.

We have noted a continued slowdown in lending growth in the Baltics. Swedbank expects the symptoms of overheating, particularly in Latvia and Estonia, to begin to subside during the second half of 2007. Discipline on the part of both public and private actors is important to ensure positive development.

Publication of financial information
The Group’s financial reports can be found on http://www.swedbank.se/ir.

Swedbank will announce results on the following dates:
Interim report third quarter 2007, October 24, 2007
Year-end report for 2007, February 13, 2008

For further information, please contact:

Jan Lidén, President and Mikael Inglander, CFO Johannes Rudbeck, Head of
CEO +46 8 585 913 14 Investor Relations
+ 46 8 585 922 27 +46 8 585 93 322, +46 70
582 56 56

About Us

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. 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 161 branches in Sweden and 96 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. Read more at www.swedbank.com


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