Swedbank AB (publ) (SWED_A) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Thank you for dialing in this morning. I am Maria Kahneman, Head of Investor Relations here at Svalbank. And it's my pleasure to welcome you to our first quarter results presentation. I am joined today by our CEO, Jens Henriksson, and our CFO, Jon Ludefelt. Jens and Jon will start with the presentation, and then there will be an opportunity to ask questions. With that, over to you, Jens. Thank you, Maria. Swedbank has started 2026 by once again delivering a stable result in uncertain times. The resilience of the global economy is once again tested with increasing geopolitical tensions and rising energy prices. The IMF revised down global growth slightly the other week. but they warn that the effects on the world economy could be significantly worse if the conflict in the Middle East is prolonged or escalates. The bank's four home markets continue to perform well, especially relative to other countries. Our economists estimate that the Swedish economy will grow by around 2% this year, and the same applies for Estonia and Latvia. The Lithuanian economy is expected to continue to grow by around 3% in 2026. In our home markets, growth is driven by both private consumption and large public investments. In these uncertain times, Swedbank is once again delivering stable results. The quarter was characterized by increased proactivity. New regulations for Swedish mortgages also contributed to more customer interactions. Turbulence in the equity markets led to higher activity in the savings area. Despite the fact that demand for corporate credit is somewhat muted to the global turmoil, the bank has done more business in both the Baltics and in Sweden. In total, we achieved a profit of 7.3 billion kronor in the first quarter of 2026. The return on equity is weighe...