Priorities 2012 -

Improve customer satisfaction

• Adapt our offering to various customer groups
• Match employee competence to customer needs

To increase customer satisfaction, we have to be even better at offering the right products and services to each customer group. For customers in need of less complex financial advice, we will provide relevant, simple and effective offerings, primarily through our electronic channels. The internet, mobile and telephone banks will be improved to make everyday banking services simpler and more efficient, thereby making them more cost effective. To serve customers with more advanced financial needs, we plan to set aside more time for advice. We are increasing the number of employees who work with advisory services, as well as broadening and further building their competence.

Increase decision-making close to our customers

• Clarify and continue to implement the common framework
• Increase local business acumen

Swedbank’s framework, which facilitates decision-making close to customers, is largely in place, but we have to clarify how it will be applied. We will also introduce an evaluation system to ensure that the framework is followed and improved.

It is important that those closest to customers have a say, are involved and have the necessary business acumen, since they have full responsibility for customers and results. We are working to make our employees more knowledgeable about the profitability of each customer and of the bank as a whole in order to raise the bank’s business acumen.

Grow with existing customers

• Gain a larger share of our customers’ banking business
• Continue to work with risk-based pricing

We will first and foremost take advantage of our large customer base to grow. By being close to customers and understanding their needs, we can provide greater customer value and thereby improve our offering and our earnings.

We will continue to review the pricing of our products and services. The aim is risk-based pricing that corresponds to the value provided to customers and covers the bank’s costs of doing business, which are increasing due to new regulations in the banking sector. It is also important to continue to capitalise on growth opportunities in selected segments.

Improve quality and cost effectiveness

• Standardise and coordinate processes
• Increase cost focus

We will capitalise on the economies of scale that our large customer bases and business volumes offer and increase our cost effectiveness. The latter is important, since the Group is the amalgation of banks, segments and geographical areas. We will improve quality while reducing complexity and operational risks by standardising, simplifying and coordinating processes within IT support, product development and shared support functions. Quality and efficiency gains will also benefit customers by making our offering more precise and getting it to market faster.

Due to current economic conditions, we have to reduce our costs. Responsibility for this rests with Swedbank’s managers. We are also working actively to further raise the cost consciousness of everyone in the Group. The revised general remuneration programme, Eken, serves as support in this regard.

Capital and liquidity management

• Improve the understanding of risk-weighted assets and capital efficiency within the organisation
• Improve our relative cost of capital market funding

To reduce unnecessary tied-up capital, we are continuing to improve understanding of risk-weighted assets and capital efficiency within the organisation. Stress tests will be an increasingly important tool in capital allocation. The organisation will be well-prepared for the impact of the new risk weightings for mortgages that are expected. We are also continuing to monitor regulatory developments and adapt our capital, liquidity and funding structures. By continuing to increase transparency and regularly meeting with our investors, we will ensure that our relative cost of capital market funding further improves.