Swedbank's interim report for the first quarter 2018
Swedbank's President and CEO comments: “Our strong financial position gives us the conditions we need to deliver on our ambitious plans in the next two years.”
First quarter 2018 compared with fourth quarter 2017
- Increased lending volumes supported net interest income
- Lower contribution from asset management and cards weighed on net commission income
- Net gains and losses benefited from higher demand on interest rate hedging
- Cost development in line with expectations
- Good asset quality
- Stronger capitalisation
1) The Q1 2018 results reflect the adoption of IFRS 9 Financial instruments and prior periods have not been restated. Refer to Note 1 for further information.
2) 2017 results have been restated for changed presentation of commission income. Refer to Note 1 for further information.
3) One-off income from sale of Hemnet of SEK 680m in first quarter 2017.
4) 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:
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 24 April 2018 at 7.00 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 625 000 corporate customers and organisations with 218 branches in Sweden and 133 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 6 February, 2018 the group had total assets of SEK 2 213 billion.
Read more at www.swedbank.com