Year-end report 2010

Fourth quarter 2010 (compared with the third quarter 2010): - The quarterly result was SEK 2 750m (2 591) - Earnings per share were SEK 2.37 (2.23) - The return on equity was 11.7 per cent (11.3) - The cost/income ratio was 0.58 (0.55) - Net interest income increased by 14 per cent to SEK 4 527m (3 980) - Profit before impairments excluding non-recurring items decreased by 2 per cent to SEK 3 326m (3 409) - Credit impairments amounted to SEK -483m, i.e., net recoveries (120). Provisions for loan losses amounted to SEK -1 138m (-84). Net write-offs amounted to SEK 655m (204). The credit impairment ratio was -0.14 per cent (0.03) - The Tier 1 capital ratio according to Basel 2 increased to 15.2 per cent (13.5 per cent on 31 December 2009). According to transition rules, the Tier 1 capital ratio increased to 11.0 per cent (10.4). The core Tier 1 capital ratio was 13.9 per cent (12.0) according to Basel 2 and 10.1 per cent (9.2) according to transition rules. Full-year 2010 (compared with the full-year 2009): - The result for the period was SEK 7 444m (-10 511) - Earnings per share were SEK 6.43 (-10.66) - The return on equity was 8.1 per cent (-12.5) - The cost/income ratio was 0.57 (0.51) - Net interest income decreased by 21 per cent to SEK 16 329m (20 765) - Profit before impairments excluding non-recurring items decreased by 20 per cent to SEK 13 344m (16 612) - Credit impairments amounted to SEK 2 810m (24 641). Provisions for loan losses amounted to SEK 1 405m (21 794). Net write-offs amounted to SEK 1 405m (2 847). The credit impairment ratio was 0.20 per cent (1.74) - The proposed dividend is SEK 2.10 per common share and SEK 4.80 per preference share - Proposed buy-back programme of up to 10 per cent of outstanding shares - The dividend policy changed to amount to 50 per cent of the profit for the year, starting from the financial year 2011. Read more at www.swedbank.com