Interim Report January - June

Compared with the first quarter 2011 End Quote

(1888PressRelease) July 27, 2011 - The result for the quarter amounted to SEK 3 452m (3 852)
Earnings per share before dilution amounted to SEK 3.02* (2.47) and earnings per share after dilution amounted to SEK 3.01* (2.4)
The return on equity was 14.4 per cent (16.1)
The cost/income ratio was 0.52 (0.52)
Net interest income was SEK 4 740m (4 527)
Profit before impairments decreased by 1 per cent to SEK 4 010m (4 068)
Swedbank reported net recoveries of SEK 324m (972)
The core Tier 1 capital ratio was 14.8 per cent according to Basel 2 (13.9 per cent on 31 December 2010) and 10.1 per cent (10.1) according to transition rules. The Tier 1 capital ratio according to Basel 2 increased to 16.1 per cent (15.2). According to transition rules, the Tier 1 capital ratio was 11.0 per cent (11.0).

January - June 2011
Compared with January - June 2010
The result for the period amounted to SEK 7 304m (2 103)
Earnings per share before dilution amounted to SEK 5.48* (1.82) and earnings per share after dilution amounted to SEK 5.48* (1.82)
The return on equity was 15.3 per cent (4.7)
The cost/income ratio was 0.52 (0.57)
Net interest income increased by 18 per cent to SEK 9 267m (7 822)
Profit before impairments increased by 22 per cent to SEK 8 078m (6 625)
Swedbank reported net recoveries of SEK 1 296m (credit impairments of 3 173).
* Earnings used to calculate earnings per share are specified on page 41.
Please read the full report in the pdf-document attached or on www.swedbank.com/ir.

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to a development “Beyond Financial Growth”. As a leading bank in the home markets Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 9.4 million retail customers and around 690,000 corporate customers with 321 branches in Sweden and over 200 branches in the Baltic countries. The group is also present in other Nordic countries, the U.S., China, Russia and Ukraine. As of 30 June, 2011 the group had total assets of SEK 1,758 billion.

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