The financial overview from January to September 2013 shows significant improvements, with operating income up by 2% and profit after tax up by 25% compared to the previous year. In Q3, operating income increased by 14% to SEK 243.2 million and profit after tax surged by 164% to SEK 58.1 million. Key events included reaching the highest savings capital ever at SEK 127 billion and a doubling of profit for the three-month period.

1. » Report presentation «
January – September 2013
October 23, 2013

2. financial overview
July – September 2013
•
Operating income increased by 14 percent to SEK 243.2 million (212.5)
•
Profit after tax increased by 164 percent to SEK 58.1 million (22.0)
•
EPS before dilution were up by 164 percent to SEK 0.33 (0.13)
January – September 2013
•
Operating income increased by 2 percent to SEK 725.5 million (710.7)
•
Profit after tax increased by 25 percent to SEK 170.1 million (135.9)
•
EPS before dilution were up by 25 percent to SEK 0.97 (0.78)
2

3. events Q3
•
Highest savings capital ever, SEK 127 billion
•
Profit more than doubled for the three-month period
•
Digital sign up – become a customer simple and quick with mobile bank-ID
3

4. 4
customers and accounts
12M: 23,400 / 6%
12M: 37,600 / 9%
500 000
450 000
400 000
350 000
300 000
250 000
200 000
150 000
100 000
50 000
0
Q4 11
Q1 12
Q2 12
Q3 12
active customers
Q4 12
Q1 13
Q2 13
active accounts
accounts/customer (Q3 2013): 1.23
Q3 13

5. savings capital and net savings (SEK billion)
net savings 12M: SEK 9,2 billion
140
6,0
120
5,0
4,0
80
3,0
60
2,0
40
1,0
20
0
0,0
Q4 11
Q1 12
Q2 12
Q3 12
net savings
Q4 12
Q1 13
savings capital
Q2 13
Q3 13
net savings
savings capital
100
5

6. 6
trades (thousands)
4 500
4 000
3 851
12M: 12,760
3 973
3 531
3 500
3 283
3 075
3 055
2 841
3 000
2 871
Q3 12
Q4 12
2 500
2 000
1 500
1 000
500
0
Q4 11
Q1 12
Q2 12
Q1 13
Q2 13
Q3 13

7. 7
lending (SEK billion)
6,0
5,0
1,7
4,0
1,6
1,9
1,7
1,7
2,9
2,9
Q3 12
Q4 12
2,0
3,2
3,0
3,1
Q1 13
Q2 13
Q3 13
2,9
Q2 12
2,0
1,8
3,0
2,0
3,0
3,5
1,0
0,0
Q4 11
Q1 12
margin lending
private loans

8. revenue development (SEK million)
300
250
12M: SEK 953 million
18
20
24
21
200
107
8
28
25
23
107
81
150
79
77
101
91
100
100
142
137
132
126
126
119
120
120
Q4 11
Q1 12
Q2 12
Q3 12
Q412
Q113
Q213
Q313
50
0
net interest income
net commission income
other income
8

9. cost development (SEK million incl. credit losses)
250
12M: SEK 694 million
200
182
172
181
179
179
Q2 12
Q3 12
Q4 12
174
170
171
Q1 13
Q2 13
Q3 13
150
100
50
0
Q4 11
Q1 12
9

10. 10
operating profit (SEK million)
100
90
40%
12M: SEK 259 million
93
84
35%
80
70
70
68
72
53
60
30%
25%
49
50
20%
33
40
15%
30
10%
20
5%
10
0
0%
Q4 11
Q1 12
Q2 12
Q3 12
operating profit
Q4 12
Q1 13
operating margin
Q2 13
Q3 13

11. 11
income statement (SEK million)
3 months
3 months
9 months
9 months
12M rolling
12 months
Jul-Sep 2013
Jul-Sep 2012
Jan-Sep 2013
Jan-Sep 2012
Oct-Sep 2013
Jan-Dec 2012
Net interest income
119.9
125.5
358.3
395.1
483.8
520.6
Net commission income
100.4
79.2
292.7
266.9
370.0
344.2
22.9
7.9
74.5
48.8
99.3
73.6
243.2
212.5
725.5
710.7
953.2
938.4
-136.8
-144.6
-405.8
-421.5
-546.6
-562.3
-17.1
-15.7
-49.5
-47.1
-65.6
-63.2
-9.0
-9.4
-29.4
-31.1
-39.4
-41.1
Total operating expenses
-162.8
-169.7
-484.7
-499.7
-651.5
-666.5
Profit before credit losses
80.4
42.8
240.7
211.0
301.6
271.9
Net credit losses
-8.3
-9.7
-30.3
-32.5
-42.5
-44.7
Operating profit
72.1
33.0
210.4
178.5
259.1
227.2
-14.1
-11.0
-40.3
-42.6
-36.0
-38.3
Profit for the period
58.1
22.0
170.1
135.9
223.1
188.9
Earnings per share before dilution
0.33
0.13
0.97
0.78
1.27
1.08
Consolidated Income Statement (SEK million)
Other income
Total operating income
General administrativ e expenses
Depeciation and amortization
Other operating expenses
Tax on profit for the period

12. 12
balance sheet (SEK million)
Consolidated Statement of Financial Position (SEK million)
30/09/2013
30/09/2012
31/12/2012
Loans to credit institutions
1,004.6
861.2
1465.0
Loans to the public
5,509.3
5,046.4
4737.3
Financial assets
Financial assets - policy holders bearing the risk
Tangible and intangible assets
Current tax assets
8,340.2
6,647.9
5388.0
23,130.5
18,954.3
18961.7
489.9
515.1
507.1
102.8
4.9
7.2
1,005.1
144.9
213.9
122.9
128.0
111.8
Total assets
39,705.3
32,302.7
31,391.9
Deposits and borrowing by the public
12,263.3
10,484.7
10,487.7
Liabilities to policyholders
18,962.3
Other assets
Prepaid expenses and accrued income
23,131.2
18,955.0
Other liabilities
2,754.9
1,402.5
427.9
Shareholders' equity
1,551.0
1,460.5
1514.0
Non-controlling interest
Total equtity
Total liabilities and equity
5.0
-
-
1,555.9
1,460.5
1514.0
39,705.3
32,302.7
31391.9

13. 13
capital coverage (SEK million)
Capital requirements for the financial conglomerate (SEK million)
Total equity, Group
Less, profit that hav e not been subject to audit
Plus subordinated liablities
Less assumed div idend for current year
Less intangible fixed assets and deferred tax receiv ables
Capital base
30/09/2013
30/09/2012
31/12/2012
1,555.9
1,460.5
1,514.0
0.0
-
-
175.7
175.7
175.7
-102.1
-54.4
-122.5
-456.7
-482.6
-475.3
1,172.9
1,099.3
1,091.9
561.8
503.0
444.2
0.7
0.8
0.8
Capital requirement for regulated units within the banking
and securities sector
Theoretical solv ency requirement for non-regulated units in
the largest financial sector
Capital requirement for regulated units within the insurance
sector
31.9
30.6
32.2
Capital requirement
594.4
534.4
477.2
Capital surplus
578.5
564.9
614.7
1.97
2.06
2.29
Capital coverage ratio

14. looking ahead
•
Active cost management and a scalable operating model
•
Focus on innovation and social investing
•
Analytics
14

15. 15
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