Remuneration

Swedbank strives to offer its employees a competitive rate of remuneration that is directly related to the overall contribution to the business operations made by that employee.
Wage formation shall occur in the light of the Group’s sustainable profit performance and the employees’ contribution to the same.

Fees to the Board are determined by the General Meeting as suggested by the nomination committee.
The Board determines salaries and other benefits for the President and other senior executives.

The 2005 AGM decided, in accordance with the proposal from the Board, the following principles for compensation and other employment terms for senior executives:

Swedbank’s incentive programmes shall always focus primarily on the company’s long-term interests. The individual’s interests shall always be subordinate to those of the company in the context of the incentive programmes approved from time to time.
The Swedbank incentives programme policy assumes that there is an absolute level for the variable remuneration, that specified goals are objective and quantifiable, and that the results are based on actual performance.