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| Date | 23 Jan 2025 |
| Time | 07:00:04 |
| Category | Results |
| ID | 3631U |
Press Release
23 January 2025
Swedbank's Year-end report 2024
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. |
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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.
Swedbank empowers the many people and businesses to create a better future. Our vision is a financially sound and sustainable society. Swedbank Group is the leading bank with over 7 million retail customers and 550 000 corporate customers in our four home markets: Sweden, Estonia, Latvia and Lithuania. Swedbank Group is also present in other Nordic countries, the U.S. and China. Together we make your financial life easier. Find out more: www.swedbank.com
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