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Swedbank's Year-end report 2024

SWED ARegulatory press release23.01.2025 klo 08.00

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Swedbank's President and CEO Jens Henriksson comments: "Swedbank once again delivers a strong result supported by timing effects."

Income rose for the full-year
The return on equity was 17.1 per cent for the full-year
Strict cost control - the cost/income ratio for the full-year was 0.34
Credit quality is solid
Changed the Dividend Policy to between 60 and 70 per cent of the annual profit
Proposed dividend for 2024 of 21 kronor and 70 öre per share, corresponding to 70 per cent of the profit
New Investor Day before the summer

Financial information	Q4	Q3		Full-year	Full-year
SEKm	2024	2024	%	2024	2023	%

Total income	18 634	19 146	-3	74 104	73 057	1
Net interest income	12 274	12 229	0	49 267	50 933	-3
Net commission income	4 285	4 286	0	16 716	15 088	11
Net gains and losses on financial items	923	1 170	-21	3 687	2 938	25
Other income¹	1 152	1 461	-21	4 435	4 098	8
Total expenses	6 740	5 986	13	25 376	24 100	5
of which administrative fines	0	0	-12	0	887	-100
Profit before impairments, bank taxes and resolution fees	11 894	13 160	-10	48 728	48 957	0
Impairment of tangible and intangible assets	757	0		790	87
Credit impairments	-394	271		-268	1 674
Bank taxes and resolution fees	858	1 012	-15	4 019	3 574	12
Profit before tax	10 673	11 876	-10	44 187	43 622	1
Tax expense	2 208	2 497	-12	9 320	9 492	-2
Profit for the period	8 465	9 379	-10	34 866	34 130	2

Earnings per share, SEK, after dilution	7.50	8.30		30.86	30.27
Return on equity, %	15.8	18.4		17.1	18.3
C/I ratio	0.36	0.31		0.34	0.33
Common Equity Tier 1 capital ratio, %	19.8	20.4		19.8	19.0
Credit impairment ratio, %	-0.08	0.06		-0.01	0.09
1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures, and Other income from the Group income statement.

Contact:

Annie Ho, Head of Investor Relations, +46 70 343 78 15

Charlotte Nilsson, Press communicator, +46 76 534 66 12

This information constitutes inside information that Swedbank AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation (EU no596/2014). The information was submitted for publication, through the agency of the contact person set out above, January 23, 2025, at 07:00 CET.