Swedbank Ab Class A · OMXSTO:SWED_A
Swedbank Ab Class A — Q3 2026 Earnings Presentation
25 slides from Swedbank Ab Class A's earnings presentation, 2026
Slide 1: Third quarter results 2026
2026 Third quarter results
Slide 2: Economic outlook
Economic outlook Global development ● Resilient global economy despite war and high energy prices ● AI investments support global growth Home markets ● Strong economic fundamentals ● Growth in Sweden, Estonia, Latvia and Lithuania 2-3 per cent in 2026 © Swedbank 2
Slide 3: Key highlights Q3
Key highlights Q3 Net profit Credit impairment ratio SEK 8.2bn -14 bps Return on equity Earnings per share 15.6 per cent SEK 7.30 C/I ratio CET1 buffer 0.41 215 bps © Swedbank 3
Slide 4: Swedbank 15/27
Swedbank 15/27 Strengthen Grow our Increase our business our customer interactions volumes efficiency © Swedbank 4
Slide 5: Private customers
Private customers In Sweden, 19 per cent mortgage market share in own channels 6 per cent mortgage volume growth in Baltic Banking Strong net inflows to Robur and Swedbank Försäkring © Swedbank 5
Slide 6: Corporate customers
Corporate customers High proactivity and customer focus Corporate lending grew by SEK 12bn © Swedbank 6
Slide 7: Most loved brand in the Baltics
Most loved The Oak - brand in the our AI Gimi app Baltics assistant 7
Slide 8: Income statement
Income statement SEKm Q3 2026 Q2 2026 ▲ ● Net profit SEK 8.2bn Net interest income 11 568 11 276 3% Net commission income 4 704 4 462 5% ● Return on equity Net gains and losses 601 1 060 -43% 15.6 per cent, 16 per cent adj.2) Other income 1 114 1 306 -15% ● Cost/Income ratio Total income 17 986 18 1
Slide 9: Lending volumes
Lending volumes Group, SEKbn QoQ +2% Sweden 1,2) , SEKbn QoQ +0.7% +23 1 610 8 3 1 621 12 1 953 12 1 965 1 930 11 Q2 2026 Private Corporate Q3 2026 Baltic Banking 2) , SEKbn QoQ +3.7% 320 6 5 332 Q2 2026 1) Sweden 1) Baltic Q3 2026 FX Q3 2026 Q2 2026 Private Corporate Q3 2026 Banking excl. FX 1) Swe
Slide 10: Deposit volumes
Deposit volumes Group, SEKbn QoQ +0% Sweden 1,2) , SEKbn QoQ -1.5% -6 870 857 -2 -11 1 331 7 1 325 12 1 337 Q2 2026 Private Corporate Q3 2026 -13 Baltic Banking 2) , SEKbn QoQ +1.4% 461 2 5 468 Q2 2026 1) Sweden 1) Baltic Q3 2026 FX Q3 2026 Q2 2026 Private Corporate Q3 2026 Banking excl. FX 1) Swede
Slide 11: Net interest income
Net interest income NII development, SEKm QoQ +3% ● NII supported by higher business +292 volumes and higher ECB rates 581 15 ● Increased funding cost 11 568 11 276 -54 -250 NII impact from SEKm Interest income Interest expense Business volumes 116 FX 85 Q2 2026 Lending Deposit Cash with Wholesale Q
Slide 12: Net commission income
Net commission income NCI development, SEKm QoQ +5% ● Asset management increased due to +242 strong stock market performance, − Positive FX effects and net inflow 178 16 5 43 4 704 4 462 of SEK 8bn ● Seasonally higher income from cards ● Stable insurance business ● Other – supported by service conce
Slide 13: Net gains and losses
Net gains and losses NGL distribution, SEKm ● High business activity, mainly driven by Fixed income and FX 19 252 ● Negative revaluations in Treasury 601 largely offset by positive share -77 -15 performance in strategic holdings 422 FX sales & Fixed income DCM Treasury Other Total NGL Q3 trading and
Slide 14: Other income
Other income Other income development, SEKm QoQ -15% ● Lower net insurance due to higher -193 claims and negative revaluations 1 306 ● Higher results from partly owned companies (Associates) -48 29 4 1 114 ● Income from services sold to savings -177 banks included in Other -225 Net insurance Q2 2026
Slide 15: Costs
Costs Costs by quarter, SEKm QoQ -6% ● Costs seasonally lower Costs Underlying costs1) C/I – ratio C/I – ratio1) -4% ● Extraordinary costs of SEK 673m 7 854 7 417 – SEK 190m (YTD SEK 1.05bn) 6 994 6 744 – In total SEK 1.3bn announced for 2026 0.43 0.41 – Settlement fee with DFS of SEK 483m 0.40 0.39
Slide 16: Credit impairments
Credit impairments SEKm 420 -70 ● Solid asset quality -265 -216 ● -14 bps credit impairment ratio in Q3 -149 ● Improved macro scenario -421 -701 ● Rating & stage migrations – primarily from a few re-rated corporates Macro Rating & stage Post model Individual Other, incl. Entercard Total credit scena
Slide 17: Common equity tier 1 capital
Common equity tier 1 capital CET1 capital ratio development, per cent ● CET1 capital ratio of 17.2 per cent ● REA increased by SEK 24bn due to increased lending ● Pillar 2 requirements increased by 23 215bps buffer1) bps from SREP 2026 17.4% 0.3% 17.2% ● 100-300bps capital buffer range -0.3% -0.1% -
Slide 18: Estimated CET1 buffer impacts
Estimated CET1 buffer impacts Q4 2026 Q1 2027 ● IRB approvals – Swedish mortgage model – Baltic corporate model -15 bps ● Pillar 2 requirement move of +75 bps remaining IRB add-on to Pillar 1 CET1 capital ratio req. and buffer 215 290 275 15.1% 14.1% 14.1% Swedish P2R to P1 Sovereign Entercard, Ente
Slide 19: Well positioned for growth and profitability
Well positioned for growth and profitability Return on C/I ratio CET1 buffer equity 0.41 215 bps 15.6 per cent © Swedbank 19
Slide 20: Appendix
Appendix
Slide 21: NII sensitivity
● +50bps = SEK +3.0bn NII (of which SEK +1.5bn in the Baltic countries) NII sensitivity -50bps = SEK -4.3bn NII (of which SEK -1.5bn in the Baltic countries) (fully priced in) Assuming zero passthrough on transaction deposits and full passthrough on all other assets and liabilities down to a floor o
Slide 22: A programme for more business and lower costs
A programme for more business and lower costs 2026 2027 2028 -> ● Focused card strategy ● Focused consumer finance strategy ● Continued investments ● SEK 1bn in lower run- offset by synergies rate by year-end 2028 ● Competence shift, streamlining, efficiency ● FTE ~16 8001) by year- end ● SEK 1.3bn
Slide 23: Entercard consumer finance divestments
Entercard consumer finance divestments Non -performing loan portfolio Performing loan portfolio ● Divestment of SEK 4bn1) expected to close in Q4 ● Divestment of SEK 7bn, expected to close in Q1 2026 2027 – Positive revaluation of expected credit losses of SEK – Approx. SEK 500m lower annual net int
Slide 24: Liquidity reserve
Liquidity reserve 160% Total, SEK 595bn Liquidity Coverage Ratio Liquid assets by issuer Liquid assets by currency Q3 2026, SEKbn Q3 2026, SEKbn 1 15 75 121% 90 8 Net Stable Funding Ratio 273 178 341 >12m 201 Survival horizon Cash and balances with central banks SEK EUR USD OTHER Sovereigns, central
Slide 25: Swedbank 15/27
Swedbank 15/27 ● Robust capital generation ● Dividend payout ratio of 60-70 per cent ● Normalised CET1 capital ratio buffer of 200bps ● RoE of at least 15 per cent ● C/I ratio not above 0.40 ● Ensure long-term shareholder value © Swedbank 25