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2025-01-23 07:00
Swedbank’s Year-end report 2024
Swedbank’s President and CEO Jens Henriksson comments: “Swedbank once again delivers a strong result supported by timing effects.”
- Income rose for the full-year
- The return on equity was 17.1 per cent for the full-year
- Strict cost control – the cost/income ratio for the full-year was 0.34
- Credit quality is solid
- Changed the Dividend Policy to between 60 and 70 per cent of the annual profit
- Proposed dividend for 2024 of 21 kronor and 70 öre per share, corresponding to 70 per cent of the profit
- New Investor Day before the summer
| Financial information | Q4 | Q3 | Full-year | Full-year | ||
| SEKm | 2024 | 2024 | % | 2024 | 2023 | % |
| Total income | 18 634 | 19 146 | -3 | 74 104 | 73 057 | 1 |
| Net interest income | 12 274 | 12 229 | 0 | 49 267 | 50 933 | -3 |
| Net commission income | 4 285 | 4 286 | 0 | 16 716 | 15 088 | 11 |
| Net gains and losses on financial items | 923 | 1 170 | -21 | 3 687 | 2 938 | 25 |
| Other income¹ | 1 152 | 1 461 | -21 | 4 435 | 4 098 | 8 |
| Total expenses | 6 740 | 5 986 | 13 | 25 376 | 24 100 | 5 |
| of which administrative fines | 0 | 0 | -12 | 0 | 887 | -100 |
| Profit before impairments, bank taxes and resolution fees | 11 894 | 13 160 | -10 | 48 728 | 48 957 | 0 |
| Impairment of tangible and intangible assets | 757 | 0 | 790 | 87 | ||
| Credit impairments | -394 | 271 | -268 | 1 674 | ||
| Bank taxes and resolution fees | 858 | 1 012 | -15 | 4 019 | 3 574 | 12 |
| Profit before tax | 10 673 | 11 876 | -10 | 44 187 | 43 622 | 1 |
| Tax expense | 2 208 | 2 497 | -12 | 9 320 | 9 492 | -2 |
| Profit for the period | 8 465 | 9 379 | -10 | 34 866 | 34 130 | 2 |
| Earnings per share, SEK, after dilution | 7.50 | 8.30 | 30.86 | 30.27 | ||
| Return on equity, % | 15.8 | 18.4 | 17.1 | 18.3 | ||
| C/I ratio | 0.36 | 0.31 | 0.34 | 0.33 | ||
| Common Equity Tier 1 capital ratio, % | 19.8 | 20.4 | 19.8 | 19.0 | ||
| Credit impairment ratio, % | -0.08 | 0.06 | -0.01 | 0.09 | ||
| 1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures, and Other income from the Group income statement. | ||||||
Contact:
Annie Ho, Head of Investor Relations, +46 70 343 78 15
Charlotte Nilsson, Press communicator, +46 76 534 66 12
This information constitutes inside information that Swedbank AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation (EU no596/2014). The information was submitted for publication, through the agency of the contact person set out above, January 23, 2025, at 07:00 CET.
Risk information
Historical growth is no guarantee of future yields. The value of your fund savings can both rise and fall, which is why there can be no guarantee that you will get back your original investment.