Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Nordnet's interim report for the period January-September 2014.
Highlights from the third quarter:
- Launch of the social investing network Shareville
- The Super funds available on all Nordic markets
- Continued strong underlying growth of customers and net savings
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Danske Bank Nordic Bank Seminar, June 2010Swedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Nordnet's interim report for the period January-September 2014.
Highlights from the third quarter:
- Launch of the social investing network Shareville
- The Super funds available on all Nordic markets
- Continued strong underlying growth of customers and net savings
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Danske Bank Nordic Bank Seminar, June 2010Swedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Economic Trends, a copy of the presentation delivered by Andrew Johnson, Senior Economist at EEF from the CIM East of England Summer Marketing Conference held on 9 June 2011 at ARU, Chelmsford
Research released by Intellidex revealed that BEE deals done by the JSE’s 100 largest companies have collectively generated R317bn of value for beneficiaries.
A short market review and summary on how the pharmaceutical and healthcare sector can use the mobile platform as their new channel of communication towards their target groups: physicians, patients, hospitals, pharmacies, etc
Victorian Runner Up Entrepreneur of the year presents the 7 steps of stoytelling and demonstrates why they are important for sharing the story of your business online. A presentation @ The Apartment Lounge 5th December 2012.
The Ultimate Guide to Customer Loyalty in 2017Margaret Link
For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
Economic Trends, a copy of the presentation delivered by Andrew Johnson, Senior Economist at EEF from the CIM East of England Summer Marketing Conference held on 9 June 2011 at ARU, Chelmsford
Research released by Intellidex revealed that BEE deals done by the JSE’s 100 largest companies have collectively generated R317bn of value for beneficiaries.
A short market review and summary on how the pharmaceutical and healthcare sector can use the mobile platform as their new channel of communication towards their target groups: physicians, patients, hospitals, pharmacies, etc
Victorian Runner Up Entrepreneur of the year presents the 7 steps of stoytelling and demonstrates why they are important for sharing the story of your business online. A presentation @ The Apartment Lounge 5th December 2012.
The Ultimate Guide to Customer Loyalty in 2017Margaret Link
For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
EU to save banks but abandon state if Greece rejects austeritySEBgroup
The EU will save its banks but abandon the state if Greece rejects austerity in the upcoming vote on 17 June, SEB’s chief strategist Johan Javeus projects in a presentation where he outlines what might lie ahead for the recession-hit country. Recent opinion polls suggest the country will get a pro-austerity government, but the final outcome is far from certain and since Greek law does not allow more polls until the election, Europe will be flying blind for a couple of weeks.
Economic growth has led to lower employment and combined with earnings from abroad and remittances this has added a significant amount of funds to households’ disposable income in all three Baltic countries, SEB’s latest Baltic Household Outlook shows.
SEB sees 25 per cent chance of Riksbank cutSEBgroup
SEB’s experts see a 25 per cent chance the Riksbank will cut its repo rate by 25 basis points to 1.25 per cent at Wednesday’s rate decision. An investor survey done by SEB shows only 8 per cent of respondents foresee a rate cut and in an internal survey among SEB’s own fixed income traders and experts, 18 per cent says they believe the rate will be cut. The alternative to a cut is an unchanged repo rate.
SEB-report: EU financial transactions tax unlikely to passSEBgroup
The European Commission will present a proposal for a Tobin tax on financial transactions this autumn. Implementation of this tax is unlikely as both Sweden and the UK oppose it. It would be easier to find support for a stability levy, writes SEB economist Andreas Johnson in a note published Wednesday.
SEB:s Boprisindikator visar att hushållen är mindre positiva till bostadsmark...SEBgroup
Färre än tidigare tror på stigande bostadspriser och fler tror på fallande priser. Det visar SEB:s Boprisindikator för juni, som faller tillbaka jämfört med förra månaden.
Svenskarna är mindre nöjda med välfärden jämfört med sina nordiska grannar. Det visar SEB:s nya välfärdsindex som bygger på tolv olika frågor om tilltron till välfärdstjänster och trygghetssystemen.
In this edition of Fixed Income Insights, SEB's experts take a closer look at recent developments in the eurozone debt issue and conclude that the political system will continue to ensure a crisis is avoided. Market implications include continued upward pressure in intra-EMU spreads up until the EU summit in June, further macroeconomic concerns, volatility and lower risk appetite. With an acute crisis averted, the experts believe the ECB will continue to raise rates gradually, delivering its next hike in July followed by another in the fall.
The dollar has come under pressure as the Federal Reserve remains on hold for an extended period. SEB’s strategists say in the latest issue of Currency Strategy that it is likely that the dollar continues to remain weak. They do however note that we are closer to see the dollar finding some traction versus other G10 currencies. The bank’s experts forecast a slow grind lower in the euro/Swedish krona echange rate.
The savings stock of Swedes on December 31 2010 amounted to SEK 10,169 billion, an increase by 180 billion during the last quarter. Net savings during the quarter amounted to SEK 49 billion.
At SEB, sustainable development means building a sustainable business as a bank. In the Corporate Sustainability Report 2010 you can read more about what SEB has done and what priorities the bank has for the future. Sustainability is meant to become an integrated part of SEB business, a core competence by 2012. It is a very high ambition.
SEB-report: Consumption, exports boost eastern European economiesSEBgroup
Eastern European economies will strengthen in 2011 on the back of greater household purchasing power and competitive exports, states SEB's Eastern European Outlook released Wednesday. Overall, economic conditions will strengthen across the region over the next two years, with exports driving growth this year.
3. Repricing of risk
3
Swedish credit spreads
5y covered bonds vs. 5y Sovereign
Stock exchanges
MSCI World and OMXSPI,
Indexed to 100 2015
80
85
90
95
100
105
110
115
120
125
Jan 2015 Jan 2016
OMXSPI
MSCI World
0
20
40
60
80
100
120
Jan 2015 Jan 2016
-0.6
-0.4
-0.2
0
0.2
0.4
0.6
Jan 2015 Jan 2016
Swedish policy rate
4. New and convenient
capital customer
interfaces
Increasing long-term
financial security for
individuals + SEK 18bn in
pensions
CO2 impact through +SEK 22bn
in Green bonds
Contributing to a more
sustainable world
+SEK 53bn in
sustainable funds
Executing convenient
payment services, 784bn
transactions
Promoting
entrepreneurship by
enabling +10,000
entrepreneurs to meet
How we created
more customer
value in 2015
How we created
more customer
value in 2015
Paperless branches in Estonia saved a
19 meter high pile of paper
500 SMEs in Baltics
participated in Innovation Day
Corporate lending + SEK 19bn
Enabling new homes for private
individuals +SEK 14bn mortgages
Private individuals and SMEs
had 2.3m dialogues 24/7 on all
financial matters
Overall society benefited from
our SEK 5.3bn in taxes and fees
5. Profit & Loss, (SEK m) FY 2015 FY 2014 % FY 2014 %
Total Operating income 45,050 43,954 2 44,148 46,936 -6
Total Operating expenses -22,187 -22,143 0 -22,187 -22,143 0
Profit before credit losses 22,863 21,811 5 21,961 24,793 -11
Net credit losses etc. -1,096 -1,445 -24 -1,096 -1,445 -24
Operating profit 21,767 20,366 7 20,865 23,348 -11
Tax expense -4,284 -3,947 -4,284 -4,129
Net profit 17,483 16,419 6 16,581 19,219 -14
FY 2015
Underlying * Reported
5
Financial summary
* Notes: Excluding one-offs sale of MasterCard shares and Euroline in 2014, Swiss withholding tax in 2015
Proposed dividend per share Common Equity Tier 1 Return on Equity*
Key financials
SEK 5.25 18.8% 12.9%
6. % Q4-14 %
Total Operating income 11,373 10,079 13 11,102 2
Total Operating expenses -5,571 -5,452 2 -5,791 -4
Profit before credit losses 5,802 4,627 25 5,311 9
Net credit losses etc. -297 -309 35 -395 -25
Operating profit 5,505 4,318 27 4,916 12
Q4-15 Q3-15
4.7
4.0
1.2 0.9
0.6
6
42%
37%
11%
7% 2%
Operating income by type, Q4 2015 vs. Q3 2015 (SEK bn)
Profit and loss (SEK m) *
Net interest
income
Net fee and
commissions
Net financial
income
Net life insurance
income
Q3-15Q4-15 Q3-15Q4-15 Q3-15Q4-15 Q3-15Q4-15
Financial summary
Income distribution FY 2015 *
Net other
income
Q3-15Q4-15
* Notes: Excluding one-offs sale of MasterCard shares and Euroline in 2014, Swiss withholding tax in 2015
7. Net interest income development
SEK bn
7
Net interest income
2015 vs. 2014
Net interest income type
Q4 2013 – Q4 2015
4.0 4.3 4.4
Q4-13 Q4-14 Q4-15
0.5 0.4 0.4
Q4-13 Q4-14 Q4-15
0.4 0.3
-0.1
Q4-13 Q4-14 Q4-15
Deposits
Funding & other
Lending
19.0
19.9
2015 2014
-5%
* Notes: Excluding one-off Swiss withholding tax in 2015
*
8. Net fee and commission income development
SEK bn
8
Net fee and commissions
2015 vs. 2014
Gross fee and commissions by income type
Q4 2013 – Q4 2015
Custody and mutual funds
Payments, cards, lending, deposits & guarantees
Advisory, secondary markets and derivatives
+4%
16.9 16.3
2015 2014
0.7 0.8 0.7
Q4-13 Q4-14 Q4-15
1.8
2.1 2.0
Q4-13 Q4-14 Q4-15
2.3
2.9 2.6
Q4-13 Q4-14 Q4-15
9. 4.9
2.9
2015 2014
1.2 1.1
0.8
0.7
0.3
1.3
1.6
0.9
1.2
Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15
Net financial income development
SEK bn
9
NFI and total Markets result Q1 2013 – Q1 2015
Net financial income
2015 vs. 2014
+69%
Net financial income development *
Q4 2013 – Q4 2015
Higher volatility drove customer activity
10
15
20
25
30
35
40
Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15
* (VIX S&P 500 volatility)
* Notes: Excluding one-off Swiss withholding tax in 2015
*
10. Operating leverage
SEK bn
Average quarterly income
9.2 9.4 9.8 10.4 11.0 11.3
Avg 2010 Avg 2011 Avg 2012 Avg 2013 Avg 2014 Avg 2015
Average quarterly expenses
5.8 5.9 5.7 5.6 5.5 5.5
Avg 2010 Avg 2011 Avg 2012 Avg 2013 Avg 2014 Avg 2015
Average quarterly profit before credit losses
* Notes: Excluding one-offs (restructuring in 2010, bond buy-back and IT impairment in 2012, sale of MasterCard shares and
Euroline in 2014, Swiss withholding tax in 2015) Estimated IAS 19 costs in 2010
3.4 3.5 4.1
4.8 5.5 5.7
Avg 2010 Avg 2011 Avg 2012 Avg 2013 Avg 2014 Avg 2015
10
*
11. Business and IT are delivering together
11
Connectivity Automation
InformationCulture &
innovation
SEK
22.5bn
12. Divisional performance*
12
Operating profit 2015 vs. 2014 (SEK bn)
RoBE 13.1% (13.4) 14.0% (20.7) 19.8% (20.3) 22.7% (21.9) 14.4%** (14.5)
Business
Equity
(SEK bn)
60.9 (52.3) 34.4 (24.6) 9.5 (8.6) 8.4 (8.2) 7.9 (8.9)
2015
2014
* Excluding one-off from Swiss withholding tax in 2015
10.4
6.3
2.4
2.2
1.3
Merchant Banking * Retail Banking Wealth Management Life Baltic
** RoBE excl RHC in Baltic Division is 18.6%
13. (SEK bn) 2009 2014 2015
Non-performing loans 28.6bn 10.6bn 8.0bn
NPL coverage ratio 65% 59% 62%
Net credit loss level 0.92% 0.09% 0.06%
Customer deposits 750bn 943bn 884bn
Liquidity resources >10% ~25% ~25%
Liquidity coverage ratio N.A. 115% 128%
CET 1 ratio (Basel 3) 11.7% 16.3% 18.8%
Total capital ratio (Basel 3) 14.7% 22.0% 23.8%
Leverage ratio (Basel 3) N.A. 4.8% 4.9%
Strong asset quality and balance sheet
Assetquality
Fundingand
liquidity
Capital
Basel 2.5
Basel 2.5
13
15. Delivered what we promised three years ago
Income growth target 2012-15
3 Years
target
Actual growth RoE
Merchant Banking ~15% +22%
Retail Banking ~20% +12%
Life & Wealth ~5% +15%
Baltic ~15% +3%
Group* ~15% +15% 12.9%
Operating profit
(SEK bn)
Large Corps &
Institutions
Asset
Gathering
Baltic
Private &
Corporates
Target ROE>peers = approx.13%
Capital generation assuming dividend payout >40%
”2015”
Approx. 20
ROE approx.13%
I L L U S T R A T I V E
15.4
2012
ROE 11%
* N.B. 2012 & 2015 excluding one-off effects
Assuming CET1@13% 15%
15
16. Key beliefs about banking
SEB strengths in future market
Competitive landscape
A new vision has been established for the bank
16
21. 21
I L L U S T R A T I V E
~27
Large Corporates
& Fin. Institutions
Corporate &
Private Customers
Life & IM Baltic
~21
+7% +10% +5% +8%
2015 2018
Operating profit CAGR (2015-2018)
The trajectory of profitable growth continues…
RoE ∼ 14 %
CET1 ∼ 18 %
22. Financial ambitions
RoE long-term aspiration 15%
competitive with peers
Dividend
payout 40% or
above
Common Equity
Tier 1 with
~150bps buffer
Cost cap
SEK 22.5bn
(incl. 2017)
22