Swedbank AB (publ) (SWED_A) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I am Maria Kahneman, Head of Investor Relations here at Swedbank. Welcome to our third 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. Swedbank has once again delivered a strong result in uncertain times. The geopolitical situation, continued uncertainty about tariffs and trade, and the increasing concerns about weak public finances across the world are slowing down global growth. Twice a year, the world's economic policy decision makers meet at the IMF, The sorting point for their discussions is the World Economic Outlook, which was published a week ago with the headline, and I quote, global economy influx, prospects remain dim, end of quote. With that said, our four home markets have healthy fundamentals. strong public finances, low government debt, innovative companies, profitable banks and low interest rates. In Sweden, we see signs of improvement. Our economists forecast growth of 2% next year, while the Swedish government is more optimistic and projects 3%. In Estonia, economic development is still subdued and we are seeing some recovery in Latvia and the development in Lithuania continues to be strong. In these uncertain times, Swedbank stands strong and is well positioned for sustainable growth and profitability. We can today report a return on equity of 16% and earnings per share of 7,53 kronor for the third quarter. During the quarter, income increased while cost decreased. Our cost-to-income ratio was 0.35. Strict cost control is producing results. We had the conservative and 4-0 lending process, and during the quarter we saw credit impairment reversals. We had...