23 January 2025
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.
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