Financial summary 2009
The profit for the year was SEK -10 511m (10 887).
Earnings per share amounted to SEK -10.66 (16.51).
The return on equity was -12.5 per cent (15.2).
Net interest income decreased by 4 per cent to SEK 20 765m (21 702).
Net commission income decreased by 11 per cent to SEK 7 825m (8 830).
Net gains and losses on financial items increased by 18 per cent to SEK 2 770m (2 351).
Expenses decreased by 1 per cent to SEK 17 848m (18 085).
Credit impairments amounted to a net of SEK 24 641m (3 156).
Business volumes
- Lending to the public* decreased by 5 per cent to SEK 1 192bn.
- Deposits from the public* rose by 4 per cent to SEK 497bn.
- Total assets under management increased by 20 per cent to SEK 676bn.
Risk-weighted assets decreased by 13 per cent to SEK 603bn.
The Tier 1 capital ratio increased according to Basel 2 to 13.5 per cent (11.1).
The Board of Directors proposes that no dividend be paid for the financial year 2009 (0).
*Excluding National Debt Office and repos.
Important highlights 2009
Michael Wolf took over as President and Chief Executive Officer on 1 March. Additional changes were made in the Group Executive Committee during the year.
Read more about Other events
The Annual General Meeting elected four new members of the Board of Directors: Anders Igel, Pia Rudengren, Anders Sundström and Karl-Henrik Sundström.
Read more in the Corporate governance report
New organisations to manage problem loans (FR&R) were created during the year in the Baltic countries, Ukraine and Russia.
Read more about Lower risk level
During autumn 2009 Swedbank established the company Ektornet AB to manage and add value to repossessed assets.
Read more about Ektornet
Swedbank completed a rights issue of SEK 15.1bn in autumn 2009.
Read more about The share and owners
Swedbank Robur acquired Banco Fonder AB, with assets under management of approxi-mately SEK 7bn.
Read more about Other events
Swedbank sold four branches to Sparbanken Nord, three branches to Sparbanken Dalsland, two branches to Sparbanken Rekarne, one branch to Tidaholms Sparbank and one branch to Sparbanken 1826.
Read more about Other events
Swedbank was named Business Bank of the Year 2009 in the business magazine Affärsvärlden’s Financial Barometer survey.
The magazine Global Finance named Swedbank “Best bank” in Lithuania and Estonia.
Swedbank Robur was named the “Nordic region’s best fund management company” by Lipper for the third consecutive year.
