Slide 1: Second quarter results 2026
2026 Second quarter results
Slide 2: Economic outlook
Economic outlook Global development ● Resilient global economy despite geopolitical tensions ● War and technology pushing growth in opposite directions Home markets ● Continued strong performance ● Growth in Sweden, Estonia and Latvia around 2 per cent, and Lithuania 3 per cent in 2026 © Swedbank 2
Slide 3: Key highlights Q2
Key highlights Q2 Net profit Earnings per share SEK 7.2bn SEK 6.37 Return on equity adj 1) Credit impairment ratio 15.5 per cent 6 bps C/I ratio adj 1) CET1 buffer 0.39 ~260 bps 1) Adjusted for extraordinary costs of SEK 860m © Swedbank 3
Slide 4: Swedbank 15/27
Swedbank 15/27 Strengthen Grow our Increase our business our customer interactions volumes efficiency © Swedbank 4
Slide 5: Private customers
Private customers 20 per cent mortgage market share in our own channels in Sweden Strong growth in Baltic Banking SEK 22bn net inflow to Robur © Swedbank 5
Slide 6: Corporate customers
Corporate customers Corporate lending grew by SEK 18bn Increased activity in corporate advisory High interest in sustainable products © Swedbank 6
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Slide 8: Income statement
Income statement SEKm Q2 2026 Q1 2026 ▲ ● Net profit SEK 7.2bn Net interest income 11 276 11 147 1% Net commission income 4 462 4 172 7% ● Return on equity Net gains and losses 1 060 689 54% 15.51) per cent Other income 1 306 1 064 23% ● Cost/Income ratio 0.391) Total income 18 104 17 073 6% Total e
Slide 9: Lending volumes
Lending volumes Group, SEKbn QoQ +2% Sweden 1,2) , SEKbn QoQ +1.5% +31 1 588 8 16 1 612 24 7 1 929 5 1 934 1 898 Q1 2026 Mortgage Corporate Q2 2026 Baltic Banking 2) , SEKbn QoQ +2.1% 4 2 317 311 Q1 2026 1) Sweden 1) Baltic Q2 2026 FX Q2 2026 Q1 2026 Mortgage Corporate Q2 2026 Banking excl. FX 1) Sw
Slide 10: Deposit volumes
Deposit volumes Group, SEKbn QoQ +2% Sweden 1,2) , SEKbn QoQ +0.8% +17 863 14 870 -7 10 1 327 5 1 331 1 310 7 Q1 2026 Private Corporate Q2 2026 Baltic Banking 2) , SEKbn QoQ +2.3% 447 14 457 -4 Q1 2026 1) Sweden 1) Baltic Q2 2026 FX Q2 2026 Q1 2026 Private Corporate Q2 2026 Banking excl. FX 1) Swede
Slide 11: Net interest income
Net interest income NII development, SEKm QoQ +1% ● Higher business volumes +129 ● Mixed margin development with lower 550 lending margins offset by higher 480 deposit margins 11 276 11 147 ● Funding cost increased – driven by -165 -737 higher market rates NII impact from SEKm Interest income Intere
Slide 12: Net commission income
Net commission income NCI development, SEKm QoQ +7% ● Asset management impacted by +290 strong stock market performance, 167 positive FX effects and net inflow of 4 4 462 168 SEK 22bn 4 172 -49 ● Strong income from payments and cards – seasonally higher cards income ● Lower insurance income mainly d
Slide 13: Net gains and losses
Net gains and losses NGL distribution, SEKm ● Continued high business activity, mainly driven by Fixed income and Debt capital markets 244 1 060 ● Positive revaluations in Treasury -36 59 226 567 FX sales & Fixed income DCM Treasury Other Total NGL Q2 trading and Equity 2026 sales & trading © Swedba
Slide 14: Other income
Other income Other income development, SEKm QoQ +23% ● Higher net insurance due to lower +242 claims and positive revaluations 30 17 1 306 ● Higher results from partly owned 45 150 companies (Associates) 1 064 ● Income from services sold to savings banks included in Other +195 Net insurance Q1 2026
Slide 15: Costs
Costs Costs by quarter, SEKm QoQ +2% ● Extraordinary costs of SEK 860m +113 – SEK 1.3bn in total announced for 2026 Costs Underlying costs1) C/I – ratio1) 7 854 ● Underlying costs were up by 2 per 6 881 6 994 cent1) – Adjusted for extraordinary costs – Seasonally higher costs due to annual 0.42 0.40
Slide 16: Credit impairments distribution
Credit impairments distribution SEKm 462 ● Solid asset quality -109 116 313 ● 6 bps credit impairment ratio in Q2 -191 ● Rating & stage migrations – primarily 108 from a few re-rated corporates -73 ● Post model adjustment decreased to Macro Rating & stage Post model Individual Other, incl. Entercard
Slide 17: Common equity tier 1 capital
Common equity tier 1 capital CET1 capital ratio development, per cent ● CET1 capital ratio of 17.4 per cent ● REA increased by SEK 21bn due to higher lending volumes ● 100-300bps capital buffer range ~260bps buffer1) 17.5% 0.2% 17.4% 0.0% -0.4% 14.8% Q1 2026 Profit after Credit risk Other Q2 2026 CE
Slide 18: Well positioned for continued growth and profitability
Well positioned for continued growth and profitability Return on C/I ratio adj. 1) CET1 buffer equity adj 0.39 ~260 bps 15.5 per cent © Swedbank 18 1) Adjusted for extraordinary costs of SEK 860m
Slide 19: Appendix
Appendix
Slide 20: NII sensitivity
● +50bps = SEK +3.0bn NII (of which SEK +1.4bn in the Baltic countries) NII sensitivity -50bps = SEK -4.3bn NII (of which SEK -1.4bn in the Baltic countries) (fully priced in) Assuming zero passthrough on transaction deposits and full passthrough on all other assets and liabilities down to a floor o
Slide 21: A programme for more business and lower costs
A programme for more business and lower costs 2026 2027 2028 -> ● Focused card strategy ● Focused consumer finance strategy ● Continued investments ● SEK 1bn in lower run- offset by synergies rate by year-end 2028 ● Competence shift, streamlining, efficiency ● FTE ~16 8001) by year- end ● SEK 1.3bn
Slide 22: Planned divestments
Planned divestments Entercard consumer finance PayEx ● Portfolio SEK 11bn gross ● FY 2025 Income: SEK ~400m – Sweden 83% ● FY 2025 Costs: SEK ~400m – Other Nordic countries 17% ● CET1 5-10 bps ● NII FY 2025, SEK ~600m ● ~300 full-time employees ● Stage 2 and 3 credit impairments already provisioned
Slide 23: Liquidity reserve
Liquidity reserve 150% Total, SEK 597bn Liquidity Coverage Ratio Liquid assets by issuer Liquid assets by currency Q2 2026, SEKbn Q2 2026, SEKbn 13 93 72 3 122% 7 256 Net Stable Funding Ratio 184 338 >2Y 223 Survival horizon Cash and balances with central banks SEK EUR USD OTHER Sovereigns, central
Slide 24: Swedbank 15/27
Swedbank 15/27 ● 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 24