Swedbank's Interim report for the second quarter 2019
Swedbank's Acting President and CEO Anders Karlsson comments: “Despite global uncertainty, we saw increased customer activity in all our home markets in the quarter.”
Second quarter 2019 compared with first quarter 2019
- Higher loan volumes and a lower resolution fund fee positively affected net interest income
- Increased card usage and higher asset management valuations strengthened net commission income
- More normal market conditions resulted in lower net gains and losses on financial items
- Increased consulting expenses due to investigations
- Good credit quality
- Dividend pay-out policy adjusted to 50 per cent of annual profit
1) 2018 (Q1 and Q2) results have been restated for changed presentation of tax related to associates.
2) Other income includes the items Net insurance, Share of profit or loss of associates, and Other income from the Group income statement.
For further information, contact:
Gregori Karamouzis, Head of Investor Relations, tel + 46 72 740 6338
Unni Jerndal, Press Officer, tel +46 73 0921180
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 17 July, 2019 at 07:00 CET.
Swedbank encourages a sound and sustainable financial situation for the many households and businesses. 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 180 branches in Sweden and 122 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 March, 2019 the group had total assets of SEK 2 246 billion. Read more at www.swedbank.com