2014-02-14 08:00
Swedbank strengthens market position in southern Sweden
Supplementary information regarding press release "Sparbanken Skåne* – a new strong regional bank" at 07:00 CET on Friday 14 February.
Swedbank acquires Sparbanken Öresund. Through a simultaneous structural deal, a new regional bank – Sparbanken Skåne* – is being formed in which Swedbank will have a 22 per cent ownership. The deal offers significant opportunities for long-term value creation.
- Swedbank strengthens its market position in a significant growth region
- Swedbank takes over 16 branches from Sparbanken Öresund
- New market position in Båstad, Ängelholm and Lomma
- Anticipated positive results impact in 2014 is SEK 200m after tax
- Common Equity Tier 1 capital ratio negatively affected by 0.6 percentage points
- Earlier cost guidance for 2014 adjusted upwards by SEK 650m
- Sparbanken Skåne will be the largest savings bank in Sweden
Lars Ljungälv, currently CEO of Sparbanken Öresund, will be the new head of Swedbank's Southern Region and thereby a member of Swedbank's Group Executive Committee. Stojko Gjurovski, the present head of the region, will continue in parallel for a transition period.
Telephone conference on Friday 14 February at 10:00 CET
Michael Wolf, Swedbank's President and CEO, and Göran Bronner, CFO, will present the deal during a telephone conference for analysts. The telephone conference will be in English and directly transmitted on www.swedbank.se/ir. A recording will also be available.
To participate in the conference please dial +46 8 505 564 74 or +44 203 364 5374 five minutes before the start of the telephone conference.
For further information, please contact:
Gregori Karamouzis, Head of Investor Relations, Swedbank, tel: +46 727 40 63 38 or ir@swedbank.com
Anna Sundblad, Press Manager, Swedbank, tel: +46 70 321 39 95
* Proposed name