Swedbank’s Interim report for the third quarter 2024
Swedbank´s President and CEO Jens Henriksson comments: ”Swedbank delivers a strong result.”
- Strong quarter further supported by positive one-off and timing effects.
- Solid credit quality.
- Most loved brand in the Baltic countries for sixth consecutive year.
| Financial information | Q3 | Q2 | Jan-Sep | Jan-Sep | ||
| SEKm | 2024 | 2024 | % | 2024 | 2023 | % |
| Total income | 19 146 | 18 237 | 5 | 55 470 | 54 028 | 3 |
| Net interest income | 12 229 | 12 165 | 1 | 36 993 | 37 605 | -2 |
| Net commission income | 4 286 | 4 169 | 3 | 12 430 | 11 334 | 10 |
| Net gains and losses on financial items | 1 170 | 911 | 28 | 2 763 | 2 093 | 32 |
| Other income¹ | 1 461 | 991 | 47 | 3 283 | 2 997 | 10 |
| Total expenses | 5 986 | 6 465 | -7 | 18 636 | 17 689 | 5 |
| of which administrative fines | 0 | 0 | 0 | 887 | -100 | |
| Profit before impairments, bank taxes and resolution fees | 13 160 | 11 772 | 12 | 36 834 | 36 339 | 1 |
| Impairment of tangible and intangible assets | 0 | 32 | -100 | 32 | 13 | |
| Credit impairments | 271 | -289 | 126 | 1 311 | -90 | |
| Bank taxes and resolution fees | 1 012 | 1 045 | -3 | 3 162 | 2 472 | 28 |
| Profit before tax | 11 876 | 10 983 | 8 | 33 513 | 32 542 | 3 |
| Tax expense | 2 497 | 2 388 | 5 | 7 112 | 6 734 | 6 |
| Profit for the period | 9 379 | 8 595 | 9 | 26 401 | 25 808 | 2 |
| Earnings per share, SEK, after dilution | 8.30 | 7.61 | 23.37 | 22.90 | ||
| Return on equity, % | 18.4 | 17.5 | 17.5 | 18.9 | ||
| C/I ratio | 0.31 | 0.35 | 0.34 | 0.33 | ||
| Common Equity Tier 1 capital ratio, % | 20.4 | 20.1 | 20.4 | 18.7 | ||
| Credit impairment ratio, % | 0.06 | -0.06 | 0.01 | 0.09 | ||
| 1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures, and Other income from the Group income statement. | ||||||
Contact:
Annie Ho, Head of Investor Relations, tel. +46 70 343 78 15
Charlotte Nilsson, Media Relations Manager, tel. +46 76 534 66 12
This information constitutes inside information that Swedbank is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, 23 October 2024, at 07:00 CEST.
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