Sweden · Delayed Price · Currency is SEK Swedbank AB Earnings Call Transcripts
Fiscal Year 2026
-
Strong quarterly results with SEK 7.2 billion profit, 15.5% adjusted ROE, and solid credit quality. Legal uncertainties have eased after a $50 million U.S. settlement, while restructuring and AI initiatives support future efficiency and growth.
-
Q2 saw positive day-count effects on NII and AUM, stable mortgage margins, and strong lending growth in Sweden and the Baltics. Cost guidance remains at SEK 27.5bn for 2026, with ongoing investments in payment systems and organizational restructuring.
-
Stable Q1 2026 results with SEK 7.3 billion profit, 13.3% ROE, and strong capital position. Mortgage and corporate lending grew, especially in the Baltics, while restructuring and integration efforts are set to deliver SEK 1 billion in annual cost savings by 2028.
-
Q1 2026 was marked by fewer days, impacting NII and NCI, while mortgage and lending volumes grew in Sweden and the Baltics. Entercard integration and the sale of its consumer finance portfolio are underway, with higher commission expenses expected to persist.
Fiscal Year 2025
-
Delivered a 15.2% return on equity for 2025, with strong lending growth, improved efficiency, and a proposed SEK 29.80 per share dividend. Ongoing regulatory uncertainties and competitive mortgage margins remain key challenges.
-
Corporate and retail lending and deposit growth outpaced the market in Sweden and the Baltics. Entercard acquisition will modestly impact loan losses and CET1 capital, while VAT refunds and cost guidance shape 2025 expectations.
-
Strong Q3 performance with higher income, lower costs, and robust capital and credit quality. Lending and asset management volumes grew, while cost efficiency and digitalization supported profitability. Ongoing U.S. investigations and regulatory changes remain key uncertainties.
-
Q3 saw mortgage rate reductions, stable market shares, and strong corporate lending growth. Acquisitions are expected to close in Q4, with cost guidance lowered due to VAT recoveries. No further policy rate cuts are anticipated.
-
Strong Q2 performance with 15.4% ROE, stable costs, and solid credit quality despite lower net interest and commission income. Mortgage and corporate lending volumes grew, and the Stabelo acquisition aims to boost digital capabilities. VAT recoveries and cost control support positive outlook.
-
The plan targets a sustainable 15% return on equity by 2027, driven by income growth, cost discipline, and capital efficiency. Key initiatives include digital transformation, market share gains in core products, and expanded fee-based income, with a focus on customer experience and operational excellence.
-
Strong Q1 performance with 15.2% ROE, robust capital, and solid credit quality despite economic uncertainty. Net interest income declined, but cost control and capital strength remain priorities. Baltic lending grew, Swedish mortgages declined, and sector-specific taxes pose ongoing challenges.
Fiscal Year 2024
-
Full-year profit rose 2% with strong capital and credit quality, and a new 60–70% dividend policy was introduced. Swedish lending volumes declined, while the Baltics saw growth, and digital and sustainability investments accelerated. Capital buffers remain robust despite regulatory uncertainties.
-
Q3 net profit rose 9% to SEK 9.4 billion, with strong return on equity and cost control. Lending grew in the Baltics, while Swedish loan demand stayed muted. Capital and liquidity positions remain robust, and the outlook anticipates further rate cuts and growth in core markets.
-
Q2 2024 saw strong results with SEK 8.6 billion profit, 17.5% ROE, and solid credit quality. Net interest income fell 3% due to lower deposit margins, while commission income rose 5%. Capital and liquidity positions remain robust, with ongoing investments in digitalization and risk management.