Swedbank AB (publ) (SWED_A) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us today. My name is Maria Kahneman, and I recently joined Swedbank as head of investor relations. I have a long background in banking, so I've already had the pleasure of getting to know many of you investors and analysts. I look forward to reconnecting and interacting with you. I am very happy to be here and to welcome you to our second quarter results presentation. With me today is our CEO, Jens Henriksson, and our CFO, Jon Lidefelt. Jens and Jon will start with the presentation, and then there will be an opportunity to ask questions. Jens, I hand over to you. Thank you, Maria, and a warm welcome to the bank, and a warm welcome to all the people calling in. Swedbank has once again delivered a strong result. We are creating value for our customers and shareholders in both good and bad times. The global economy continues to be marked by uncertainty. Geopolitical tensions and trade conflicts weigh on prospects for global growth. During the quarter, the European Central Bank and the Riksbank cut their policy rates while the Federal Reserve held it unchanged. Economic activity was strong in Lithuania, while developments in Estonia, Latvia and Sweden were weaker. The government has cut their growth forecast for the Swedish economy in half for this year compared to their prior forecast in May. Despite a challenging economic situation, our four-hole markets stand out positively. Growth in Sweden, Estonia, Latvia and Lithuania is expected to be higher than in both the Eurozone and the US in 2026. Strong public finances, low government debt, real wage growth, innovative companies, profitable banks, and lower interest rates mean that our home markets remain well prepared for the future. In these uncertain times, Swedbank stands strong....