Swedbank Ab Class A · OMXSTO:SWED_A
Swedbank Ab Class A — Q3 2025 Earnings Presentation
22 slides from Swedbank Ab Class A's earnings presentation, Oct 23, 2025
Slide 1: Third quarter results
Third quarter results
Slide 2: Macro outlook and home markets
● Continued uncertainty about tariffs and trade ● Weak public finances ● Slowed global growth ● Four home markets with healthy fundamentals ● Signs of improvement in Sweden ● Estonia is still subdued ● Some recovery in Latvia ● Strong development in Lithuania © Swedbank 2
Slide 3: Key highlights
Key highlights Return on equity 16.0% C/I ratio 0.35 Net profit SEK 8 512m © Swedbank Confidential EPS SEK 7.53 CET1 buffer ~480bps Credit impairment ratio -8bps
Slide 4: Strategic priorities
● Personalisation ● Leverage customer ● Technology and AI ● Availability relationships ● Simplify processes ● Daily banking and asset ● Customer experience ● Restrictive hiring management ● Strict credit standards © Swedbank 4
Slide 5: Our customer focus is producing results
● Our customer focus is producing results ● We have improved our availability further ● More customers do their everyday banking through digital channels ● The number of advisory sessions per employee has increased © Swedbank 5
Slide 6: Business activity: mortgage lending, deposits and funds
● Mortgage lending ● Stable deposits increased by SEK 5.2bn ● Fund net inflow of SEK 9bn - Through own channels ● Acquisition of Entercard with SEK 4.2bn in Sweden © Swedbank 6
Slide 7: Corporate lending and sustainable bonds
● Corporate lending ● SB1 Markets launched increased by SEK 7bn ● "Click to Pay" service ● 36% sustainable bonds launched in the Baltics ● Sustainable asset register has now surpassed SEK 150bn © Swedbank 7
Slide 8: Net profit SEK 8.5bn
▲ ● Net profit SEK 8.5bn Net interest income 10 819 10 917 -1% Net commission income 4 117 3 902 6% ● Cost/Income ratio 0.35 Net gains and losses 847 856 -1% ● Return on equity Other income 1 322 1 286 3% 16.0 per cent Total income 17 105 16 962 1% Total expenses 6 030 6 119 -1% ● EPS after dilution
Slide 9: Lending volumes
QoQ +0.8% QoQ +0.2% 1 529 2 2 1 532 +15 3 12 1 832 1 829 1 817 -3 Q2 2025 Private Corporate Q3 2025 QoQ +4.0% 5 7 300 289 Q2 2025 Sweden1) Baltic Q3 excl. FX FX Q3 2025 Q2 2025 Private Corporate Q3 2025 Banking 1) Sweden including Swedish Banking, Premium and Private Banking, Corporates and Institut
Slide 10: Deposit volumes
QoQ -0.1% QoQ -0.2% 871 870 -1 -1 -1 1 298 0 1 297 1 293 Q2 2025 Private Corporate Q3 2025 -2 -4 QoQ +0.1% 427 2 427 -2 Q2 2025 Sweden1) Baltic Q3 excl. FX FX Q3 2025 Q2 2025 Private Corporate Q3 2025 Banking 1) Sweden including Swedish Banking, Premium and Private Banking, Corporates and Institutio
Slide 11: Net interest income
QoQ -0.9% ● Lower customer lending rates partly -98 mitigated by higher volumes 869 ● Decreased deposit funding cost from 10 917 lower interest rates -55 10 819 -362 -551 Non-business driven NII impact, SEKm Day count 60 FX 49 Deposit guarantee fee 25 Q2 2025 Lending Deposit Cash with Wholesale Q3 2
Slide 12: Net commission income
QoQ +5.5% ● Asset management commissions +215 supported by stock market performance 53 21 4 117 180 – Fund net inflow, SEK 9bn 3 902 -38 – AuM SEK 2 471bn ● Card commissions seasonally higher Q2 2025 Asset Cards & Insurance & Other Q3 2025 Management Payments Service concepts © Swedbank 12
Slide 13: Net gains and losses
● High business activity in fixed income ● Positive revaluations from in Treasury 25 2 8 847 35 777 Client Bond Treasury Liquidity Equity Total NGL trading inventories portfolio holdings & Q3 2025 Other © Swedbank 13
Slide 14: Other income
QoQ +2.7% ● Lower underlying net insurance due +35 to higher claims 1 286 63 1 322 ● Higher results from partly owned 26 49 companies (Associates) -73 -29 ● Increased income from services to -102 savings banks Net insurance ● One-off divestment to SB1 Markets, SEK 49m (Other) Q2 2025 Underlying Reva
Slide 15: Expenses
QoQ -1.4% ● Seasonally lower costs for staff, IT- Expenses C/I ratio and consultancy -88 ● VAT recovery for 2016 of SEK 197m 6 740 (Q2 SEK 174m) 6 465 5 986 6 115 6 119 6 030 ● Cost guidance FY 2025 around SEK 25.3bn 0.36 0.36 0.35 0.35 0.35 0.31 Non-business driven SEKm FX 24 Q2 2024 Q3 2024 Q4 202
Slide 16: Credit impairments and asset quality
● Solid asset quality ● Q3 credit impairments of SEK -398m 568 corresponds to an impairment ratio of -8bps ● Remaining post model adjustment of -233 -54 SEK 364m -451 -398 -228 ● Individual assessment driven by a few larger corporate exposures Macro Rating & stage Post model Individual Other, incl.
Slide 17: CET1 capital ratio of 19.7 per cent
● CET1 capital ratio of 19.7 per cent ● Pillar 2 requirement reduced by 40bps ~480bps from SREP 2025 buffer1) ● REA increased by SEK 12bn 19.7% 0.3% 19.7% – Mainly due to lending growth -0.3% -0.0% ● 100-300bps capital buffer range 14.8% Q2 2025 Profit after Credit risk Other Q3 2025 CET1 capital an
Slide 18: © Swedbank
Return on equity 16.0% C/I ratio 0.35 CET1 buffer ~480bps 18
Slide 19: Appendix
Appendix
Slide 20: Interest rate sensitivity
SEKbn (rounded), Q3 2025 ● +50bps = +3.1 SEKbn NII = Administrative rate pricing = Base rate pricing -50bps = -4.5 SEKbn NII (fully priced in) 220 Equity SEK 650bn equity and Assuming zero passthrough on 430 Transaction deposits zero-interest rate funding transaction deposits and full Swedish mortga
Slide 21: Liquidity and funding
157% Liquidity Coverage Ratio Q3 2025, SEKbn Q3 2025, SEKbn 5 4 128% 110 114 5 Net Stable Funding Ratio 316 331 192 204 >2Y Survival horizon Cash and balances with central banks SEK EUR USD OTHER Sovereigns, central banks or multilateral development banks1 Municipalities or public service entities E
Slide 22: Capital generation and financial targets
● Robust capital generation ● Dividend payout ratio of 60-70 per cent ● Normalised CET1 capital ratio buffer of 200bps ● RoE of at least 15 per cent ● C/I ratio not above 0.40 ● Ensure long-term shareholder value © Swedbank 22