Swedbank Ab Class A · OMXSTO:SWED_A
Swedbank Ab Class A — Q1 2024 Earnings Presentation
76 slides from Swedbank Ab Class A's earnings presentation, Apr 25, 2024
Slide 1: Investor Presentation Q1 2024
Investor Presentation Q1 2024
Slide 2: Disclaimer
● Certain statements made in this presentation are forward ● None of Swedbank AB or any of its directors, officers or looking statements. Such statements are based on current employees nor any other person accepts any liability expectations and are subject to several risks and uncertainties whatsoev
Slide 3: Agenda
This is Swedbank 4 Sustainability 16 Quarterly financial update 21 Asset quality 31 Capital considerations 40 Liquidity and funding 46 Cover pool data 53 Swedish and Baltic economy 60 Swedish housing and mortgage market 65 Appendix 70 © Swedbank 3
Slide 4: This is Swedbank
© Swedbank
Slide 5: Key financial metrics 2019-2023
14.7 8.9 13.2 13.3 18.3 35 10 25 Earnings per share, SEK 15 30.4 -40 17.6 11.5 18.6 19.4 Return on equity, % 5 -5 -90 Cost to income ratio 0.43 0.54 0.44 0.40 0.33 Credit impairment 26 ratio, bps 9 1 8 9 390bps buffer CET1 capital ratio, % 18.3 19.0 17.0 17.5 17.8 50 50 50 50 50 Dividend per share,
Slide 6: Swedbank franchise overview
~82% of loan book Mortgages Savings Insurance Payment Swedbank Swedbank Swedbank franchise Loan-to-deposits CET1 capital buffer Hypotek Robur Insurance Mobile App Internet bank LCR NSFR ~14% of loan book Partnership Branches with 57 Customer 143 in Sweden Impairment ratio Savings centre 81 in the Ba
Slide 7: Vision and strategic direction
• By providing guidance on your terms • By helping you to be more sustainable • By supporting you in a proactive way • By making the difficult simple An attractive workplace for An efficient, profitable and A standardised, scalable employees with a culture based compliant bank and financial and stab
Slide 8: Four business priorities
Four business priorities C1) Leverage proven business model and pricing strategy 2) Grow share of wallet for existing customers 3) Grow business in prioritised segments 4) Improve availability and operational excellence ‘© Swedbank
Slide 9: Net interest income and lending growth
● 54% NII growth 2023 ● Protected back-book YoY growth YoY growth Net interest income 54% Net lending ● Volume growth 8% 9% 8% in the Baltics 23% 2% 50.9 ● Leading market positions 2% 22.9 -2% maintained 21.3 33.2 19.5 27.7 18.1 27.0 2020 2021 2022 2023 2020 2021 2022 2023 © Swedbank 9
Slide 10: Grow share of wallet for existing customers
● Increased proactivity ● Added 40k customers with long-term savings +25% +40k 900k ● #1 P&C insurer in Estonia 250k 480k 440k 200k 2022 2023 2022 2023 2030 target © Swedbank 10
Slide 11: Grow business in prioritised segments
● Conducted more assisted meetings Latvia ● New business area: Premium Lithuania & Private Banking 300k 25-30% ● One Corporate 25.1% Business in Sweden 265k 23.2% 22.4% ● Improved corporate market 240k shares in Lithuania and Latvia 19.4% 19.7% 20.1% 2022 2023 2025 Q3 Q1 Q3 2030 target 2022 2023 202
Slide 12: Improve availability and operational excellence
● Connected branches and ● Improved efficiency in the ● Platform saves on average contact centres credit process 18 minutes per interaction1) ● Strive to create a seamless ● Aim to improve availability ● Full launch in Sweden 2024 customer experience and shorten lead times ● Up to 1 million digital
Slide 13: Return on equity target bridge
18.3% ≥15% 13.2% 13.2% RoE Income Costs Credit Capital Capital RoE RoE Income Costs Credit Capital RoE 2021 impair- gene- reduc- 2025 2021 impair- genera- 2023 ments ration tion ments tion © Swedbank 13
Slide 14: Priorities summary
● Proven business model during transition ● Grow business in home markets to higher rates ● Improve availability and operational excellence ● New organisation in Sweden ● Capital distributions subject to ● Omni-channel communication platform rolled further clarity on capital needs out © Swedbank 14
Slide 15: AML investigations status
● No ongoing AML investigations from Swedish authorities ● Ongoing investigations by U.S. authorities – DoJ, SEC and DFS New York – Settlement with OFAC in Q2 2023 resulting in a fine of SEK 37m – Estonian prosecutor – no crime has been committed, investigation closed Swedbank AS, Estonia, Q1 2024 ●
Slide 16: Sustainability
© Swedbank
Slide 17: Green advisory, biodiversity and regulatory
Green Advisory Biodiversity ● In collaboration with Hemma, our private customers can ● Analysing targets in the GBF1 to identify now get free energy calculations, advice on how to reduce what is most relevant for our operations, energy consumption and cut energy costs to maximise impact ● In collabo
Slide 18: Carbon neutrality and interim target setting
2050 Net-Zero Banking Alliance Carbon neutrality and interim target setting 2030 targets set and published in November 2022 2040 Climate Action 100+ (Swedbank Robur) Carbon neutral investments by Swedbank Robur1) Member since 2018, cooperation to engage with the largest GHG emitters Partnership for
Slide 19: Financed emissions targets
● Mortgages: reduce the financed emission intensity by 39 per cent (kgCO2e/m2) ● Commercial real estate: reduce the financed emission intensity by 43 per cent (kgCO2e/m2) ● Oil & gas1): reduce the absolute financed emissions by 50 per cent (tCO2e) ● Power generation: reduce the financed emission int
Slide 20: Green and social assets
Green buildings Clean transportation 2.0 2.6 Green assets Renewable energy 3.9 Pollution prevention and control 3.6 Social Sustainable management of 5.7 assets living natural resources Sustainable water and wastewater management 83 74 70 67 63.4 Social assets Employment generation 59 61 Socioeconomi
Slide 21: Quarterly financial update
© Swedbank
Slide 22: Q1 2024 highlights
Total income, SEKbn QoQ -5% 17.4 18.2 18.5 19.0 18.1 TOTAL INCOME SEK 18.0bn ● Return on equity of 16.9 per cent Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 ● Cost/Income ratio 0.34 Total expenses, SEKbn QoQ -4% ● Credit impairment ratio 3 bps 6.4 5.7 6.4 6.2 TOTAL 5.6 EXPENSES SEK 6.1bn ● CET1 capital
Slide 23: Income statement
▲ ● Net profit SEK 8.4bn Net interest income 12 599 13 329 -5% Net commission income 3 976 3 754 6% ● Return on equity Net gains and losses 682 845 -19% 16.9 per cent Other income 831 1 101 -25% ● Cost/Income ratio 0.34 Total income 18 087 19 029 -5% Total expenses 6 185 6 411 -4% ● EPS after diluti
Slide 24: Lending volumes
QoQ +0.5% QoQ -0.4% SEKbn SEKbn 1 527 1 521 0 -4 -6 1 782 1 778 12 1 791 2 Q4 2023 Private Corporate Q1 2024 -6 QoQ +0.8% SEKbn 255 1 1 257 Q4 2023 Sweden1) Baltic Banking Q1 excl. FX FX Q1 2024 Q4 2023 Private Corporate Q1 2024 1) Sweden including; Swedish Banking, Premium and Private Banking and C
Slide 25: Deposit volumes
QoQ +2.9% QoQ +1.9% SEKbn SEKbn 845 1 15 861 +19 1 230 16 4 1 249 16 1 266 0 Q4 2023 Private Corporate Q1 2024 QoQ 0.0% SEKbn 383 1 383 -1 Q4 2023 Sweden1) Baltic Group Q1 excl. FX FX Q1 2024 Banking functions Q4 2023 Private Corporate Q1 2024 1) Sweden including; Swedish Banking, Premium and Privat
Slide 26: Net interest income
QoQ -5.5% SEKm ● NII decrease – FX and day count 13 329 40 – Q4 adjustments: Lower deposit guarantee fee and methodology -25 12 599 -311 -83 change in C&I origination fees -351 -379 – Lower average lending volumes in C&I Business-driven NII – Lower deposit margins due to mix shifts – Proactive whol
Slide 27: Net commission income
QoQ +5.9% SEKm ● Asset management impacted by higher average stock +222 market performance ● Securities & Corporate Finance 172 11 33 3 976 increased mainly due to DCM 3 754 6 activity Q4 2023 Cards & Asset Securities & Other Q1 2024 Payments Management Corporate Finance © Swedbank 27
Slide 28: Net gains and losses
SEKm ● Fixed income and FX performed well 682 ● Positive revaluations of equity 137 590 30 investments 30 ● High Q4 positive revaluation -105 effects in Treasury – stable this quarter Client trading Bond inventories Funding Liquidity Other Total NGL (Treasury) portfolio © Swedbank 28
Slide 29: Other income
QoQ -24.5% SEKm ● Net insurance decreased driven by revaluations mainly -270 in Baltic Banking – underlying income improved 1 101 ● Income from partly owned 831 companies were slightly higher 10 -269 -12 Q4 2023 Net insurance Associates Other Q1 2024 © Swedbank 29
Slide 30: Expenses
QoQ -3.5% SEKm ● Temporary investments Underlying expenses Administrative fine and provision C/I ratio ● Salary reviews in Sweden 0.37 ● Third party contracts 0.34 0.34 0.31 0.30 6 410 6 411 6 185 887 5 717 5 562 ● 2024 cost outlook – 2023 level excluding fines 5 523 – Temporary investments of rough
Slide 31: Asset quality
© Swedbank
Slide 32: Credit impairments
SEKm ● Credit impairment ratio 3bps ● Remaining Post model 403 adjustments of SEK 1bn 302 76 144 25 -349 -313 Macro Rating & stage Post model Individual Net repayments Other Total credit scenarios migrations adjustments assessments and balances impairments © Swedbank 32
Slide 33: Property management exposure
● Managing balance sheets Q4 2023 disclosures, per cent 10% − Divestments of properties 8.4% 7.8% 8.0% 8% 7.2% 7.4% − Restructurings 6.9% 7.0% − Capital injections 6% − Bond buy-backs 4% Q1 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 − Cancelled dividends − CAPEX reductions Q4 2023 disclosures (Q3 2023)
Slide 34: Property management portfolio by segment
● Focus on strong cash flows Q1 2024, per cent Q1 2024, SEK 240bn in total and collateral ● Continuous dialogue with customers 79 10% SEK 102 ● Average LTV 301bn 80% 10% − Property management, 20 53 per cent 38 • Non-residential, 52 per cent Sweden Residential • Residential, 53 per cent Baltics Comm
Slide 35: Property management loans by country
Sweden Sweden Estonia Estonia SEK Latvia SEK Latvia 86bn Lithuania 215bn Lithuania Norway Norway Finland Finland Loans carrying Loans carrying amount, SEKbn 85.9 79.7 0.5 0.3 0.1 0.0 5.4 amount, SEKbn 214.9 160.7 15.0 3.7 9.7 20.0 5.8 Average loan-to- Average loan-to- value 53% 53% n.a.1) n.a.1) n.a
Slide 36: Loans by stage
Q1 2023 – Q1 2024, SEKbn Q1 2023 – Q1 2024, SEKbn 1 798 1 810 1 810 1 789 1 798 6.7 7.0 7.1 7.1 7.2 100% 6 6 5 8 10 100% 98% 2.1 2.3 2.0 2.0 2.3 80% 96% 168 60% 189 183 192 187 94% 2.9 3.3 3.5 3.1 3.5 40% 92% 90% 20% 1 624 1.7 1.7 1.9 1.6 1.4 1 615 1 623 1 590 1 601 88% 0% Q1 2023 Q2 2023 Q3 2023 Q4
Slide 37: Loans by industry and stage
Agriculture, forestry, fishing 3.4% ● Property management Manufacturing 2.5% represents 16 per cent of total Public sector and utilities 2.0% loans1) Construction 1.2% Retail and wholesale 2.3% Transportation 0.8% Shipping and offshore 0.3% Hotels and restaurants 0.4% Information and communication 1
Slide 38: Swedbank's underwriting criteria
● Full recourse (very limited debt forgiveness possibilities) Swedbank’s underwriting criteria ● No securitisation (on balance sheet), no sub-prime market, no 3rd – In the repayment ability calculation, the interest party origination rate used is the higher of 6 % or the 5Y fixed mortgage interest r
Slide 39: Private mortgage loan quality
Q1 2024, private mortgage loans, SEKbn 20 20 16 16 96% of portfolio below 70% LTV ● Average loan-to-value of 12 12 59 per cent 8 8 4 4 0 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 61 64 67 70 73 76 79 82 85 88 91 94 97 100 LTV per cent 2004-Q1 2024, per cent and SEKm of private mortg
Slide 40: Capital considerations
© Swedbank
Slide 41: Capital requirements and buffer
15.1% 19.3% 1.8% 2.6% 19.4% 24.3% 12.0% ● CET1 capital ratio buffer ~420bps1) ~420bps buffer ● Target of 100-300bps remains Pillar 2 Guidance ● REA increased by SEK 12.2bn 5.4 Leverage ratio req. & P2G to SEK 859.3bn 0.5 (3.5%) 2.5 Capital Conservation Buffer 4.7 0.5 Automatic MDA 1.7 Countercyclica
Slide 42: MREL requirements
50.2% 13.0% ● The National Debt Office Eligible liabilities MREL decision for 2024 36.7% - MREL 28.4% (buffer of 13.5%) Market - Subordination requirement Confidence 7.0% 21.3% (buffer of 7.6%) Charge 12.9% Subordinated eligible liabilities ● CBR to be met with own funds at all times (in addition to
Slide 43: Regulatory developments
● New guidelines to be fully ● The SFSA has imposed an add- ● Includes amendments to the phased in by end of 2021 on related to the ongoing review frameworks for calculating according to EBA decision of IRB models in the Pillar 2 credit risk, CVA, market risk and requirement, as part of its SREP ope
Slide 44: CET1 capital ratio development
● CET1 capital ratio of 19.3 per cent ~420bps ● 100-300bps capital buffer buffer target range remains 19.0% 0.5% 0.2% 19.3% -0.3% 15.1% Q4 2023 Profit after Credit risk Other Q1 2024 CET1 capital anticipated requirement dividend © Swedbank 44
Slide 45: Risk exposure amount development
SEKbn ● REA increased by SEK 12bn – Of which FX, SEK 7.3bn 13.8 1.8 859.4 847.1 -2.0 -1.4 Q4 2023 Credit risk Article 3 Market & CVA Q1 2024 Settlement risk © Swedbank 45
Slide 46: Liquidity and funding
© Swedbank
Slide 47: Liquidity portfolio and ratios
180% Liquidity Coverage Ratio Q1 2024, SEKbn Q1 2024, SEKbn 9 12 79 53 126% 3 Net Stable Funding Ratio 324 347 218 275 >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 Ex
Slide 48: Balance sheet assets and liabilities
SEKbn Assets SEKbn Liabilities SEKbn Liabilities (comparison) 2 000 2 000 CET1 AT1 + Tier 2 Senior non-preferred debt Lithuania Senior preferred debt Latvia Estonia 1 500 1 500 Other corporate lending, Sweden & other Nordic countries 1 000 1 000 Other private, Sweden Deposits Swedish 500 mortgage lo
Slide 49: Deposits and loan-to-deposit ratio
Transaction accounts On-demand savings Q1 2024, SEKbn Q1 2024, SEKbn Term savings +38% 702 Private 712 Corporate1 553 1 259 1 298 1 230 1 266 109 118 528 1 131 44 40 920 954 48 320 320 48 439 461 273 274 2018 2019 2020 2021 2022 2023 Q1 Q4 2023 Q1 2024 Q4 2023 Q1 2024 2024 Private 200 SME Q1 2024 LT
Slide 50: Funding profile and maturities
SEKbn Strong funding profile ● LCR 180% (EU 2015/61) 1 400 Outstanding volumes 1 200 ● NSFR 126% (CRD2) 1 000 Q1 2023 Q1 2024 ● Issued SEK 42bn1) of long- 800 term funding Q1 2024 600 400 200 0 Covered bonds Senior preferred SNP Short-term Deposits programmes SEKbn Issued, long-term debt SEKbn Matur
Slide 51: Credit ratings
● On April 12 2024, Moody’s affirmed Swedbank’s ratings and raised the outlooks on long-term deposits, senior unsecured debt ratings and long-term issuer rating to positive from stable, reflecting the removal of the negative corporate notch. ● On June 26 2023, S&P wrote in its Update that Swedbank's
Slide 52: Funding programmes and formats
● Senior preferred, senior non-preferred and covered bond format ● Major / opportunistic currencies ● Bullet format, FRN or Fixed ● EUR 20m equivalent minimum size ● Listing is optional ● Program formats available: – Senior unsecured debt (preferred/non-preferred): GMTN, potentially USD 144a format,
Slide 53: Cover pool data
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation (www.coveredbondlabel.com ) © Swedbank
Slide 54: Cover pool summary
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation (www.coveredbondlabel.com ) Rating, S&P / Moody’s AAA / Aaa Repayment structure 7 Total pool size SEK 1 105.2bn – Amortising 76% Geographic distribution Sweden 100% – Interest only 24% Current OC-level 197% Weighted average seaso
Slide 55: Cover pool loan types and geography
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation (www.coveredbondlabel.com ) Type of loans 31 Mar Geographical distribution, Sweden, per cent 31 Mar (based on loan volume) 2024 (based on loan volume) 2024 Residentials 92.0 North 6.8 of which Single-family housing 56.7 Norrbotte
Slide 56: Cover pool LTV distribution
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation ● Weighted average LTV on property level 54% (www.coveredbondlabel.com ) LTV distribution per property1 LTV distribution by volume1, 2 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% 00-10 10-20 20-30 30-40 40-50 50-60 60-70
Slide 57: Weighted average LTV per property type
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation (www.coveredbondlabel.com ) WA LTV per property type1 Percentage of the pool Average LTV per loan type 120% 120% 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% Substitute Single-family Tenant owner Tenant owner Multi-family Comm
Slide 58: Over-collateralisation
Swedbank is a labeled issuer of the ECBC Covered Bond Label Foundation (www.coveredbondlabel.com ) ● Current OC-level of 197% 220% Q1 2024 ● 2% legal minimum requirement 200% Min req. 2% ● Can withstand a severe house 180% price drop and still be able to 160% issue AAA-rated covered bonds Over-colla
Slide 59: Swedish Covered Bond Act
● The Covered Bond Act entered into force on July 1, 2004, with most recent amendments effective as per July 8, 2022, and is over-sighted by the Swedish FSA. Its main characteristics are: − Dual recourse to the issuer and cover pool − Dynamic, regulated pool of assets, frequently monitored by the Sw
Slide 60: Swedish and Baltic economy
© Swedbank
Slide 61: Swedish key economic indicators
Key economic indicators1, 2023-2025 Most recent 2023 2024F 2025F Real GDP (calendar adjusted) -0.2 (Q4) 0.0 0.1 2.9 • Kingdom of Sweden rated CPI growth, average 4.1 (Mar) 8.6 3.0 0.8 Aaa/AAA/AAA CPIF growth, average 2.2 (Mar) 6.0 1.9 1.5 Unemployment rate (15-74), % of labor force 8.3 (Mar)2 7.7 8.
Slide 62: Inflation, krona, loan growth and interest rates
Inflation heading down Weaker krona Headline inflation (CPI) and with fixed interest rate (CPIF) Krona (SEK), US dollar (USD), euro (EUR) and trade-weighted 14.0 index (KIX) 12.0 12 135 10.0 11 130 8.0 125 10 6.0 120 4.0 9 2.0 115 8 0.0 110 -2.0 7 105 -4.0 6 100 2013 2014 2016 2017 2018 2020 2021 20
Slide 63: Baltic key economic indicators
Key economic indicators1, 2023-2025 Most recent 2023E 2024F 2025F Real GDP Estonia -2.7 (Q4) -3.0 -0.5 2.8 Latvia -0.5 (Q4) -0.3 1.4 2.8 Ratings Lithuania 0.1 (Q4) -0.3 1.8 2.8 CPI growth, annual rate Estonia 3.9 (Mar) 9.2 3.5 2.7 • Republic of Estonia: A1/AA-/A+ Latvia 0.9 (Mar) 8.9 1.5 2.5 • Repub
Slide 64: Baltic economic sentiment
Economic sentiment Confidence indicators, sa, index represents deviations from long term average (=0) Estonia Latvia Lithuania 27 20 20 20 30 17 20 10 10 10 20 7 10 0 0 10 0 -3 0 0 -10 -10 -13 -10 -10 -10 -20 -20 -23 -20 -20 -20 -30 -30 -33 -30 -30 -30 -43 -40 -40 -40 -50 -40 -53 -40 -50 -50 Dec-20
Slide 65: Swedish housing and mortgage market
© Swedbank
Slide 66: Housing price developments
Price developments flats and single family houses1) Valueguard index (2005 Jan = 100) 350 300 250 200 150 100 24 2007 2008rates (in2009 Annual growth percent) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 14 4 -6 -16 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 67: Housing transactions and seasonally adjusted prices
● Housing market transactions are slowly recovering ● Seasonally adjusted prices increases in 2024 Housing market transactions Housing prices Housing transactions Seasonally adjusted housing prices: Mar 2022 - Mar 2024 20000 (Monthly change in %) 2 18000 16000 1 14000 0 12000 10000 -1 8000 -2 6000 -
Slide 68: Household interest costs and debt service
● Households still feel the pain from high interest rates ● Household debt service in 2023 highest since 2008 Mortgage loan growth, housing prices and interest rate Household interest expenses percent of disposable income percent index 18 8.0 320 16 7.0 14 300 6.0 12 280 5.0 10 4.0 260 8 3.0 240 6 2
Slide 69: Population growth and household balance sheets
● Population grows slows sharply, while finalist ongoing housing projects in 2023 remained high – New starts expected to drop sharply in 2024 ● Households adjust indebtedness levels to higher rates Population growth slows Strong household balance sheets Completed housing and population growth, no. o
Slide 70: Appendix
© Swedbank
Slide 71: ESG ratings
As per Q1 Bloomberg Gender Equality Index 77 CDP C1 EY SHE Index Sweden 82 FTSE4Good ESG Rating 4.2 ISS Corporate Rating C+ (Prime) MSCI ESG Rating AA Sustainalytics ESG Risk Rating 22.7 1) Refers to 2022 since no score for 2023 is yet published © Swedbank 71
Slide 72: Macro scenarios and probability weightings
31 March 2024 2024 Positive scenario 2025 2026 Baseline scenario 2024 2025 2026 Negative scenario 2024 2025 2026 ● Probability weightings Sweden GDP (annual % change) 0.5 3.6 2.3 -0.1 3.0 2.6 -3.6 -4.1 3.6 ● 66.6 per cent for Unemployment (%)1 8.4 8.4 7.7 8.4 8.4 7.8 8.8 11.1 10.9 House prices (annu
Slide 73: IFRS 9 stage definitions
Initial recognition, or no Significant increase in Evidence of impairment significant increase of credit risk credit risk Stage 3 loans Stage 1 loans Stage 2 loans Impairment amounting to Impairment amounting to lifetime expected credit lifetime expected credit losses Impairment amounting to losses
Slide 74: Funding programmes
Swedbank AB 100% owned Swedbank Mortgage AB Program Limit Program Limit Long Term Long Term Global MTN USD 40bn Domestic Benchmark CB Unlimited*** USD Senior (144a / Reg.S) USD 15bn EMTN CB EUR 25bn AUD Senior** AUD 10bn Norwegian Benchmark CB Unlimited*** NSV (stand alone doc.) AUD Covered bonds**
Slide 75: Issued long-term funding
ISIN Product Tenor Currency Amount, mn Type Spread Value date Maturity date XS2572496623 SNP 5.5Y EUR 750 Fixed MS+135 January 11, 2023 July 11, 2028 ● The table excludes volumes XS2580715147 AT1 PNC5.5 USD 500 Fixed 7.625% February 23, 2023 (call) September 17, 2028 issued on tap in the Swedish XS2
Slide 76: Contacts and financial calendar
Annie Ho Magnus Alvesson Matilda Hellman Q2 Interim report 16 Jul 2024 Head of Investor Relations Equity & Credit Rating Equity & Credit Rating Q3 Interim report 23 Oct 2024 Mobile: +46 703 43 78 15 Mobile: +46 706 10 33 41 Mobile: +46 730 59 77 52 annie.ho@swedbank.com magnus.alvesson@swedbank.com