Mortgage margins
Swedbank presents their margins on mortgage loans in Swedbank in a diagram similar to the one that is used in the Riksbanks Financial Stability Report. This diagram and the funding cost for loans with 3-months fixing period will be presented quarterly to further increase the transparency.
Banks can no longer obtain funding at the repo rate level. Funding costs in relation to the repo rate and Stibor have increased since the 2008 financial crisis. Increased liquidity expenses due to new and tighter regulations have led to a higher gross margin. The gross margin should cover costs for administration, cost of liquidity, credit impairments and the shareholders minimum required return.
During the first quarter 2013 Swedbanks funding costs has decreased mainly due to lower market rates which has resulted in that the customer rates also have been lowered during the quarter. During the first quarter 2013 Swedbanks gross margin decreased somewhat on 3-month loans. During 2012 Swedbank gross margin was stable throughout the year.
Swedbank's average funding cost during the quarter (3 months)
| Q1 2013 | Q4 2012 | Q3 2012 | Q2 2012 | Q1 2012 | Q4 2011 | Q3 2011 | Q2 2011 | Q1 2011 |
| 1.98% | 2.22% | 2.70% | 2.86% | 3.11% | 3.26% | 3.18% | 3.05% | 2.80% |
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