Swedbank: Interim report January - March

The result for the period Q1, 2009

• The profit for the period was SEK -3 358m (2 900). Excluding impairment of intangible assets of SEK 1 305m and one-off charge for incorrect fund fees in Swedbank Robur of SEK 346m after tax, profit for the period was SEK -1 707m

• Excluding these items the operating profit amounted to SEK -1 572m

• Earnings per share was SEK -4.34 (SEK 5.26)

• The return on equity was negative (16.8 per cent)

• The cost/income ratio was 0.49 (0.53)

• Net interest income increased by 11 per cent to SEK 5 803m (5 241)

• Impairment losses on loans amounted to SEK 6 845m (288). Provisions for loan losses amounted to SEK 6 552m (235). Net write-offs amounted to SEK 293m (53). Of total provisions, additional collective provisions accounted for SEK 3 680m, due to the rapidly deteriorating macro-economic situation. The loan loss ratio was 2.16 per cent (0.10)

• The tier 1 capital ratio was 10.8 per cent according to the new rules (11.1 per cent on 31 December 2008) and 9.3 per cent (8.4) according to transition rules


Read the whole report in the pdf-document attached or on www.swedbank.com.