Swedbank AB (publ) (SWED_A) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Thank you for dialing in this morning. I am Maria Kahneman, Head of IR here at Swedbank. Welcome to our second quarter results. I'm joined today by CEO Jens Henriksson and CFO Jon Lidefelt. We will first listen to their presentations and then you will have an opportunity to ask questions. With that, over to you Jens. Thank you Maria. Swedbank has once again delivered a strong result in uncertain times. The global economy continues to show resilience despite geopolitical tensions. Last week, the IMF projected a modest slowdown in global growth this year. Technological development and especially AI is offsetting some of the negative effects from geopolitical tensions. The global economy is being pushed in opposite directions. Our economists estimate that the GDP of Sweden, Estonia and Latvia will grow by around 2% this year. Lithuania is expected to see stronger growth by around 3%. In these uncertain times, Swedbank has once again delivered strong results. And the quarter was characterized by a clear customer and business focus. Profit for the quarter amounted to 7.2 billion Swedish kronor. If we exclude the extraordinary costs related to the restructuring program announced last quarter, return on equity amounted to 15.5% and the cost-to-income ratio to 0.39%. earnings per share was 6 kronor and 37 öre. Credit quality is solid. Credit impairments were 313 million Swedish kronor, corresponding to six basis points. Swedbank has a strong capital and liquidity position, and our CET1 capital buffer amounts to 2.6 percentage points. During the quarter, both Fitch and Moody's raised Swedbank's credit ratings. In their decisions, they highlight the bank's strong capitalization, good credit quality and stable risk profile. Yesterday, Swedbank reached a settlement...