Facts Q3, 2021

ContentsQ3, 2021

page page

General information 2 Capital adequacy 47

Swedbank in brief 2-3 Credit risks, EAD distribution by business segment and by

Macro economic indicators 4-5 customer segments 47

Financial information, Group 6 Capital adequacy parameters for credit risk - business segments 48

Income statement, 5-year summary 6 Capital adequacy parameters for credit risk - customer segment 49-50

Income statement, 9-quarter summary 7 Capital adequacy-consolidated situation 51

Balance sheet, 5-year summary 8 Estimated capital requirements by entity, Change in REA and

Balance sheet, 9 quarters, Equity and Goodwill 9 Outstanding subordinated debt 52

Statement of changes in equity 10 ICAAP 2020 - Scenario based stress test 53-54

Net interest income analysis 11 Liquidity & Funding 55

Income analysis 12 Liquid assets, the Liquidity Coverage Ratio and Liquidity Ratios 55

Expense analysis 13 Debt securities in issue 56

Variable pay 14 Issued long-term debt, by currency 57

Business segments 15 Maturity distribution, long-term funding 58

Swedish Banking 15-16 Outstanding benchmark bonds and short-term funding 59

Baltic Banking 17 Minimum Requirement of Own Funds and Eligible Liabilities 60

Baltic Banking 17-18 Maturity distribution, total balance sheet 61-62

Estonia 19 Asset encumbrance 63

Latvia 20 Cover pool data 64-65

Lithuania 21 Swedbank Mortgage AB, loan data 66

Other 22 Credit and sustainability Ratings 67

Large Corporates & Institutions 23-24 Key figures 68-69

Group Functions & Other 25-26 Sustainable financing 70

Group Treasury 27 Equity and assets, monthly 71

Other 28 Market shares 72

Eliminations 29 Swedbank Group by geography 73

Product companies 30 Employees 74

Swedbank Robur AB 30-31 Currency distribution and exchange rates 75

Swedbank Insurance 32-33 Sensitivity analysis and market risk 76

Baltic Life Insurance 34 Shareholders and share data 77

Baltic P&C Insurance 35 Definitions 78

Business volumes 36 Contacts and financial calendar 79

Loans 36

Deposits and amounts owed to credit institutions 37

Interest-bearing Securities and Deferred Tax Assets 38

Asset quality 39

Asset quality 39-42

Credit impairments 43

Loans by collateral type and Assets taken over 44

Private Mortgage loans 45-46

Concentration risk 46

General informationSwedbank in briefQ3, 2021

Vision Financial targets

A financially sound and sustainable society Return on equity: Return on equity of at least 15 per cent

Purpose Cost efficiency: Market-leading cost efficiency

We empower the many people and businesses to create a better future Capitalisation: Solid capitalisation. Target buffer of 100-300 bps

Values relative to the regulator’s requirement

Open, Simple, Caring

Long-term strategy

We focus on sustainable value creation for our stakeholders and therefore aim for competitive return on invested capital and

market leading cost efficiency with sound risk management and an excellent customer experience, in combination

with a strong commitment to sustainability.

Sound risk management

A strong and sound risk management in our operations is the basis

for building trust and our long-term survival. It allows us to finance our

operations through deposits from the public and funding from the

capital market in order to lend money to households and businesses at

competitive prices, even during difficult economic times. It further

enables us to take informed and sound decisions balancing risks,

return and market shares. With the transition towards digital solutions

we also target high stability, availability and information security in all

our systems to secure long-term customer relationships and trust.

An easier financial life for our customers

Customer value is created by servicing our customers with pro-

active, timely and relevant offerings based on our customers’ needs

in our customers’ preferred channel. We focus on having a stable

infrastructure and solid digital performance to enable accessibility to

products and services when and where needed. Delivering high

value towards our customers is a precondition to sustainable

profitability and our customers’ choice of Swedbank as a trusted

partner for their financial growth.

Strong commitment to sustainability

Swedbank’s strong commitment to sustainability is fundamental

to our business. We support the green transition in society by

minimising our own carbon footprint and through our investments,

financing activities and services to our customers. We maintain a

high engagement in our society and communities and take

responsibility for our structural importance in the financial system by

maintaining a strong financial position, robust asset quality and

strong capitalisation.

Competitive return on invested capital and market leading

cost efficiency

Shareholder value is created through predictable, long-term,

profitable growth and efficiency. We value consistent profitability

over fast growth, since it creates stability and predictability for our

customers and owners as well as society. Therefore, we do not

follow short-term market trends and instead price our products

based on risk and capital requirements. A strong financial performance

is further upheld by a market leading cost efficiency. It allows us to

continuously invest in our products and channels and offer competitive

prices to our customers.

2

General information

Swedbank in briefQ3, 2021

1) ATMs are owned and operated by Bankomat AB. More information is available on www.bankomat.se

Group operational structure

Group executive committee

Jens Henriksson, President and CEO Jon Lidefelt, Head of Baltic Banking

Pål Bergström, Head of LC&I Erik Ljungberg, Head of Group Communications & Sustainability

Mikael Björknert, Head of Swedish Banking Lotta Lovén, CIO and Head of Digital Banking & IT

Lars-Erik Danielsson, Chief Credit Officer Rolf Marquardt, Chief Risk Officer

Anders Ekedahl, Head of Anti-Financial Crime Unit Charlotte Rydin, Chief Legal Officer and Head of Group Legal

Ingrid Harbo, Head of Group Compliance Carina Strand, Head of Group HR & Infrastructure

Tomas Hedberg, Deputy President and Deputy CEO Kerstin Winlöf, Head of Group Financial Products & Advice

Anders Karlsson, Chief Financial Officer

To support the business in Swedbank's four home markets, Swedbank also has a presence in neighbouring Norway, Finland and Denmark as well as the

US, China and South Africa.

SwedenPopulation: 10.4mPrivate customers: 4.0mCorporate customers: 270 000Organisations: 66 000Branches: 153ATMs 1)

Cards: 4.4mEmployees: 9 209

LatviaPopulation: 1.9mPrivate customers: 0.9mCorporate customers: 75 000Branches: 21ATMs: 364Cards: 1.0mEmployees: 1 874

EstoniaPopulation: 1.3mPrivate customers: 0.85mCorporate customers: 130 000Branches: 17ATMs: 373Cards: 1.1mEmployees: 2 510

LithuaniaPopulation: 2.8mPrivate customers: 1.5mCorporate customers: 78 000Branches: 42ATMs: 397Cards: 1.7mEmployees: 2 458

The financial reporting is divided into four segments:

Swedish banking (formed by the six Swedish regions),

Baltic Banking (consisting of the three Baltic banks), Large

Corporate & Institutions and Group Functions & Other.

Group Functions & Other currently includes Group

Treasury, Digital Banking & Group IT, Group Financial

Products & Advice, other group functions.

Board of Directors

President and CEO

Internal audit

Baltic BankingSwedish BankingLarge Corporates &

Institutions

Group Treasury, Digital Banking & Group IT, Group

Financial Products & Advice

Group functions & Other

3

General information

Macro economic indicatorsQ3, 2021

GDP growth Average inflation rate (consumer price growth)

% 2023F 2022F 2021F 2020 2019 2018 2017 % 2023F 2022F 2021F 2020 2019 2018 2017

Sweden 2.0 3.6 4.4 -2.7 2.0 1.9 2.6 Sweden 1.7 1.4 1.7 0.5 1.8 2.0 1.8

Estonia 3.2 4.0 8.0 -3.0 4.1 4.1 5.8 Estonia 2.2 2.6 3.1 -0.4 2.3 3.4 3.4

Latvia 3.5 5.0 4.0 -3.6 2.5 4.0 3.3 Latvia 3.0 3.2 2.3 0.2 2.8 2.5 2.9

Lithuania 3.4 3.5 4.2 -0.1 4.6 4.0 4.3 Lithuania 2.8 3.7 3.7 1.2 2.3 2.7 3.7

Current account balance, % of GDP General Government Financial Balance, % of GDP

2023F 2022F 2021F 2020 2019 2018 2017 2023F 2022F 2021F 2020 2019 2018 2017

Sweden n/a n/a n/a 5.7 5.5 2.7 3.0 Sweden 0.0 -0.4 -1.5 -3.1 0.6 0.8 1.4

Estonia 0.0 0.4 -1.4 -0.3 1.9 0.9 2.3 Estonia -1.9 -2.1 -2.4 -4.9 0.1 -0.6 -0.7

Latvia -2.6 -2.0 -0.7 2.9 -0.6 -0.3 1.2 Latvia -2.1 -3.6 -9.0 -4.5 -0.6 -0.8 -0.8

Lithuania -0.2 1.7 4.1 8.3 3.3 0.2 0.4 Lithuania -1.8 -3.0 -6.5 -7.4 0.5 0.6 0.5

General government debt, % of GDP

2023F 2022F 2021F 2020 2019 2018 2017

Sweden 33.3 34.7 37.3 39.7 34.9 38.9 40.7 Sweden 50 683 10.4 534.4

Estonia 22.6 20.7 18.6 18.2 8.4 8.2 9.1 Estonia 35 638 1.3 31.0

Latvia 48.2 49.7 49.4 43.5 37.0 37.1 39.0 Latvia 29 932 1.9 34.0

Lithuania 49.1 50.4 50.7 47.1 35.9 33.7 39.1 Lithuania 36 732 2.8 54.7

Household debt, % of disposable income 1)

Unemployment, %

2020 2019 2018 2017 2016 2023F 2022F 2021F 2020F 2019 2018

Sweden 2)

199.2 188.5 189.3 187.6 182.8 Sweden 7.1 7.5 8.8 8.3 6.8 6.3

Estonia 1)

n.a. 66.3 68.4 70.0 71.7 Estonia 5.7 5.9 6.4 6.8 4.4 5.4

Latvia 1)

n.a. 32.2 33.0 34.8 36.3 Latvia 6.0 6.7 7.6 8.1 6.3 7.4

Lithuania 1)

n.a. 36.4 36.7 35.9 35.1 Lithuania 6.3 6.7 7.2 8.5 6.3 6.2

1) Gross debt-to-income ratio of households (ESA 2010)

2) The Riksbank's financial stability report

Sources: Swedbank Reasearch - Macro Research, Eurostat, the World Bank & the Riksbank

GDP, 2020

GDP per capita (PPP)

2020, USD

Inhabitants 2020

(millions)

GDP 2020

(USDbn)

4

General information

Macro economic indicatorsQ3, 2021

1) House price index, monthly data (2005=100) for a single family home

Source: © Valueguard Index Sweden AB 2015 (Hox index)

2) Real estate prices as of September 2021

1) Average sales price per sqm for apartments

2) Real estate prices as of June 2021

Source: Land boards of respective country

0

500

1 000

1 500

2 000

2 500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

EUR

Tallinn Riga Vilnius

Real estate price development, Baltics 1) 2)

Interest rates: Sweden & Eurozone, %

Real estate price development, Sweden 1) 2)

Index, 2005=100

100

120

140

160

180

200

220

240

260

280

300

Stockholm Gothenburg Sweden Malmoe

5

Financial information, GroupIncome statement, 5-year summaryQ3, 2021

Income statement, Group YTD YTD ∆ FY FY FY FY FY

SEKm 2021 2020 % 2020 2019 2018 2017 2016 3)

Net interest income 19 703 20 286 -3 26 853 25 989 25 228 24 595 22 850

Net commission income 1)

10 833 9 394 15 12 770 12 984 12 836 12 206 11 502

Net gains and losses on financial items 1 783 1 745 2 2 655 3 629 2 112 1 934 2 231

Net insurance 1 131 1 110 2 1 518 1 465 1 192 937 754

Share of the profit or loss of associates and joint ventures 2)

723 460 57 582 822 1 028 736 2 263

Other income 1) 968 917 6 1 298 1 071 1 826 1 795 1 017

Total income 35 141 33 912 4 45 676 45 960 44 222 42 203 40 617

Staff costs 9 061 8 480 7 11 511 10 679 9 756 9 485 8 749

Variable staff costs 317 188 69 362 440 528 460 627

Other expenses 4 407 5 133 -14 7 107 7 314 5 865 5 870 5 622

Depreciation/amortisation 1 220 1 173 4 1 580 1 551 686 600 629

Administrative fine 4 000 4 000

Total expenses 15 005 18 974 -21 24 560 19 984 16 835 16 415 15 627

Profit before impairments 20 136 14 938 35 21 116 25 976 27 387 25 788 24 990

Impairment of intangible assets 56 79 306 175 35

Impairment of tangible assets 1 2 8 8 21 31Credit impairments 237 3 811 -94 4 334 1 469 521 1 285 1 367Non-recurring items

Profit before tax 19 843 11 126 78 16 780 24 420 26 552 24 307 23 557

Tax expense 2) 3 806 2 707 41 3 851 4 711 5 374 4 943 4 005

Profit for the period from continuing operations 16 037 8 419 90 12 929 19 709 21 178 19 364 19 552

Profit for the period from discontinued operations, after tax

Profit for the period including non-controlling interest 16 037 8 419 90 12 929 19 709 21 178 19 364 19 552

Profit for the period attributable to:

Shareholders of Swedbank AB 16 036 8 419 90 12 929 19 697 21 162 19 350 19 539

Non-controlling interests 1 0 12 16 14 13

Statement of Comprehensive Income YTD YTD ∆ YTD YTD YTD FY FY

SEKm 2021 2020 % 2020 2019 2018 2017 2016 3)

Profit for the period reported via Income statement 16 037 8 419 90 12 929 19 709 21 178 19 364 19 552

Items that will not be reclassified to the income statement

Remeasurements of defined benefit pension plans 1 413 4 018 -65 5 166 -3 866 -1 806 -1 928 -3 110

Share related to associates, Remeasurements of defined benefit

pension plans 7 76 -91 96 -127 -63 -49 -59

Change in fair value attributable to changes in own credit risk of

financial liabilities designated at fair value 4 6 17 22

Income tax -291 -829 -65 -1 065 793 361 424 684

Total 1 129 3 269 -65 4 203 -3 183 -1 486 -1 553 -2 485

Items that may be reclassified to the income statement

Exchange differences on translating foreign operations:

Gains/losses arising during the period 514 499 3 -1 838 739 1 870 1 077 1 644

Reclassification adjustments to Income statement,

Net gains and losses on financial items or profit

for the period from discontinued operation

Reclassification adjustments to Income statement, net gains and

losses on financial items -2 4 -3

Hedging of net investments in foreign operations:

Gains/losses arising during the period -443 -285 55 1 523 -600 -1 474 -732 -1 337

Reclassification adjustments to Income statement, net gains and

losses on financial items 9 81

Reclassification adjustments to Income statement, profit for

the period from discontinued operations

Cash flow hedges:

Gains/losses arising during the period 90 54 67 -358 159 421 -76 59


Net interest income 13 16

Net gains and losses on financial items -88 -54 63 349 -154 -403

Foreign currency basis risk:

Gains/losses arising during the period 6 -18 -42 -18 -72

Share of other comprehensive income of associates 82 -90 -84 32 36 -80 126

Income tax 89 66 35 -306 167 297 161 280

Reclassification adjustments to Income statement, tax -3 -4

Reclassification adjustments to Income statement, profit

for the period from discontinued operations

Total 250 172 45 -749 325 675 445 781

Other comprehensive income for the period, net of tax 1 379 3 441 -60 3 454 -2 858 -811 -1 108 -1 704

Total comprehensive income for the period 17 416 11 860 47 16 383 16 851 20 367 18 256 17 848

Total comprehensive income attributable to:

Shareholders of Swedbank AB 17 415 11 860 47 16 383 16 839 20 351 18 242 17 835

Non-controlling interests 1 0 12 16 14 13

2) 2018 (Q1 to Q3) and 2017 results have been restated for changed presentation of tax related to associates. Refer to Note 1 in the Year-end report for further information.

From 1 January 2018, the results reflect that IFRS 9 Financial instruments has been adopted. Prior periods have not been restated.

1) Following a review of the services which are provided to the savings banks, Swedbank has moved a part of the income, which was previously reported under the line item Other Income,

to Commission Income. Historic comparative figures have been restated. For the full year 2017, the change means that SEK 176m has moved from Other Income to Commission Income.

The change has no impact on Swedbank’s Total Income.

3) Includes income in Q2 2016 from Visa Inc’s acquisition of Visa Europe, total effect SEK 2 115m of which Net gains and losses on financial items of SEK 457m, and Share of the profit or

loss of associates of SEK 1 658m.

6

Financial information, GroupIncome statement, 9-quarter summaryQ3, 2021

Income statement, Group Q3 ∆ Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 SEKm 2021 2021 2020 2020 2020 2020 2019 2019

Net interest income 6 590 18 6 572 6 541 6 567 6 714 6 886 6 686 6 408 6 553

Net commission income 3 799 125 3 674 3 360 3 376 3 246 2 925 3 223 3 415 3 297

Net gains/losses on financial items 553 -92 645 585 910 669 1 398 -322 1 218 457

Net insurance 361 -35 396 374 408 424 390 296 399 379

Share of profit or loss of associates 239 -8 247 237 122 231 134 95 252 213

Other income 327 -9 336 305 381 320 343 254 264 327

Total income 11 869 -1 11 870 11 402 11 764 11 604 12 076 10 232 11 956 11 226

Staff costs 3 023 -16 3 039 2 999 3 031 2 856 2 825 2 799 2 764 2 637

Variable staff costs 104 7 97 116 174 74 43 71 51 126

Other expenses 1 513 76 1 437 1 457 1 974 1 435 1 588 2 110 2 342 2 018

Depreciation/amortisation 402 -14 416 402 407 396 387 390 392 383

Administrative fine 4 000

Total expenses 5 042 53 4 989 4 974 5 586 4 761 4 843 9 370 5 549 5 164

Profit before impairments 6 827 -54 6 881 6 428 6 178 6 843 7 233 862 6 407 6 062

Impairment of intangible assets -56 56 13 66

Impairment of tangible assets 1 1 5 1

Credit Impairments 18 45 -27 246 523 425 1 235 2 151 988 154

Profit before tax 6 809 -43 6 852 6 182 5 654 6 417 5 998 -1 289 5 401 5 841

Tax expense 1 310 22 1 288 1 208 1 144 1 155 1 154 398 973 1 176

Profit for the period from continuing operations 5 499 -65 5 564 4 974 4 510 5 262 4 844 -1 687 4 428 4 665

Profit for the period including non-controlling interest 5 499 -65 5 564 4 974 4 510 5 262 4 844 -1 687 4 428 4 665


Shareholders of Swedbank AB 5 498 -65 5 563 4 975 4 510 5 261 4 845 -1 687 4 428 4 663

Non-controlling interests 1 1 -1 1 -1 2

Statement of comprehensive income Q3 ∆ Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 SEKm 2021 2021 2020 2020 2020 2020 2019 2019

Profit for the period reported via Income statement 5 499 -65 5 564 4 974 4 510 5 262 4 844 -1 687 4 428 4 665

Items that will not be reclassified to the income statement

Remeasurements of defined benefit pension plans -467 -763 296 1 584 1 148 949 -1 178 4 247 1 091 -781

Share related to associates, Remeasurements of defined benefit

pension plans -35 -51 16 26 20 -20 -45 141 32 -29

Change in fair value attributable to changes in own credit risk of

financial liabilities designated at fair value 2 1 2 1 4 5

Income tax 96 157 -61 -326 -236 -196 242 -875 -225 160

Total -406 -657 251 1 284 934 734 -979 3 514 902 -645

Items that may be reclassified to the income statement

Exchange differences on translating foreign operations:

Gains/losses arising during the period 251 834 -583 846 -2 337 371 -2 494 2 622 -1 232 639 Reclassification adjustments to income statement,

Net gains/losses on financial items -2

Hedging of net investments in foreign operations:

Gains/losses arising during the period -204 -694 490 -729 1 808 -291 1 928 -1 922 976 -485


profit for the period from discontinued operations 9

Cash flow hedges:

Gains/losses arising during the period 42 143 -101 149 -412 34 -502 522 -250 133


Net gains and losses on financial items -41 -139 98 -145 403 -33 489 -510 244 -131

Foreign currency basis risk:

Gains/losses arising during the period 11 13 -2 -3 -24 -14 -12 8 -6 -10

Reclassification adjustments to income statement, Net gains and

losses on financial items

Share of other comprehensive income of associates 13 47 -34 103 6 -4 -9 -77 -40 -4

Income tax relating to components of other comprehensive income 39 142 -103 153 -372 67 -409 408 -184 106

Total 111 346 -235 374 -921 130 -1 009 1 051 -492 248

Other comprehensive income for the period, net of tax -295 -311 16 1 658 13 864 -1 988 4 565 410 -397

Total comprehensive income for the period 5 204 -376 5 580 6 632 4 523 6 126 2 856 2 878 4 838 4 268

Shareholders of Swedbank AB 5 203 -376 5 579 6 633 4 523 6 125 2 857 2 878 4 838 4 266

7

Financial information, GroupBalance sheet, 5-year summaryQ3, 2021

Balance sheet 30 Sep 30 Sep ∆ 31 Dec 31 Dec 31 Dec 31 Dec 31 Dec

SEKm 2021 2020 % 2020 2019 2018 2017 2016

Assets

Cash and balances with central banks 651 869 388 491 68 293 811 195 286 163 161 200 371 121 347

Loans to credit institutions 41 442 50 839 -18 47 954 45 452 36 268 30 746 32 197

Loans to the public 1 701 232 1 683 986 1 1 680 987 1 652 296 1 627 368 1 535 198 1 507 247

Bonds and other interest-bearing securities 206 559 203 161 2 197 166 194 461 152 891 145 034 182 072

Financial assets for which customers bear the investment risk 301 258 240 129 25 252 411 224 893 177 868 180 320 160 114

Derivatives 38 223 54 218 -30 52 177 44 424 39 665 55 680 87 811

Other assets 89 574 74 926 20 70 136 51 416 48 871 65 287 63 415

Total assets 3 030 157 2 695 750 12 2 594 642 2 408 228 2 246 092 2 212 636 2 154 203

Liabilities and equity

Amounts owed to credit institutions 156 133 166 237 -6 150 313 69 686 57 218 68 055 71 831

Deposits and borrowings from the public 1 317 921 1 155 921 14 1 148 240 954 013 920 750 855 609 792 924

Debt securites in issue 918 260 814 976 13 732 814 855 754 804 360 844 204 841 673

Financial liabilities for which customers bear the investment risk 302 140 240 970 25 253 229 225 792 178 662 181 124 161 051

Derivatives 24 906 41 050 -39 54 380 40 977 31 316 46 200 85 589

Other liabilites 80 843 90 205 -10 66 680 80 634 81 993 58 364 44 176

Senior non-preferred liabilities 37 182 10 878 10 359 10 805

Subordinated liabilities 28 134 24 924 13 23 434 31 934 34 184 25 508 27 254

Equity 164 638 150 589 9 155 193 138 633 137 609 133 572 129 705

Total liabilities and equity 3 030 157 2 695 750 12 2 594 642 2 408 228 2 246 092 2 212 636 2 154 203

From 1 January 2018, IFRS 9 has been adopted.

From 1 January 2019, IFRS 16 has been adopted.

8

Financial information, Group

Balance sheet 9 quarters, Equity and GoodwillQ3, 2021

Balance sheet 30 Sep ∆ 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

SEKm 2021 SEKm 2021 2021 2020 2020 2020 2020 2019 2019

Assets

Cash and balances with central banks 651 869 52 943 598 926 499 858 293 811 388 491 380 083 295 442 195 286 212 168

Loans to credit institutions 41 442 2 372 39 070 46 472 47 954 50 839 60 409 55 628 45 452 39 981

Loans to the public 1 701 232 33 244 1 667 988 1 667 069 1 680 987 1 683 986 1 715 270 1 694 708 1 652 296 1 668 023

Interest-bearing securities 206 559 -16 672 223 231 192 259 197 166 203 161 248 157 265 601 194 461 240 351

Value change of interest hedged item in portfolio hedge -228 -629 401 879 1 774 2 409 2 315 1 176 271 2 908

Financial assets for which customers bear

the investment risk 301 258 6 338 294 920 278 442 252 411 240 129 222 808 197 672 224 893 213 735

Shares and participating interests 25 864 6 557 19 307 27 016 17 215 15 203 4 811 9 904 6 568 5 137

Investments in associates and joint ventures 7 530 227 7 303 7 571 7 287 7 127 6 931 6 834 6 679 6 423

Derivatives 38 223 1 810 36 413 50 153 52 177 54 218 53 949 84 253 44 424 60 828

Intangible fixed assets 19 067 231 18 836 18 794 18 361 18 482 18 277 18 610 17 864 17 927

of which goodwill 13 436 53 13 383 13 508 13 327 13 821 13 742 14 291 13 709 13 990

Tangible assets 5 208 -168 5 376 5 398 5 421 5 576 5 706 5 667 5 572 5 610

Current tax assets 1 826 207 1 619 1 541 1 554 2 535 2 242 2 674 2 408 2 826

Deferred tax assets 155 -1 156 176 124 200 202 180 170 172

Other assets 28 084 5 555 22 529 31 408 16 483 20 733 41 402 34 942 8 859 28 440

Prepaid expenses and accrued income 2 068 -1 233 3 301 2 531 1 917 2 661 2 301 2 178 3 025 1 993

Total assets 3 030 157 90 781 2 939 376 2 829 567 2 594 642 2 695 750 2 764 863 2 675 469 2 408 228 2 506 522


Liabilities

Amounts owed to credit institutions 156 133 10 014 146 119 163 281 150 313 166 237 186 615 174 934 69 686 103 251

Deposits and borrowings from the public 1 317 921 9 941 1 307 980 1 238 655 1 148 240 1 155 921 1 121 606 1 066 052 954 013 974 351

Debt securities in issue 918 260 36 827 881 433 830 062 732 814 814 976 869 229 908 130 855 754 918 601

Financial liabilities for which customers bear

the investment risk 302 140 6 298 295 842 280 727 253 229 240 970 223 516 199 847 225 792 214 562

Derivatives 24 906 -1 980 26 886 35 024 54 380 41 050 54 355 54 107 40 977 39 751

Current tax liabilities 760 61 699 632 424 440 428 816 836 730

Deferred tax liabilities 3 264 45 3 219 3 127 2 784 2 514 2 250 2 481 1 571 1 287

Short positions securities 29 989 15 659 14 330 24 450 23 300 25 460 29 816 19 927 34 345 29 261

Other liabilities 37 492 1 371 36 121 45 766 29 766 49 776 83 519 53 471 28 144 41 151

Accrued expenses and prepaid income 4 627 -121 4 748 5 176 4 038 4 174 3 980 8 682 4 383 4 042

Provisions 4 711 418 4 293 4 682 6 368 7 841 8 873 7 586 11 355 12 524

Senior non-preferred liabilities 37 182 2 568 34 614 20 214 10 359 10 878 10 837 11 153 10 805Subordinated liabilities 28 134 4 435 23 699 24 005 23 434 24 924 25 421 26 727 31 934 33 241

Total liabilities 2 865 519 85 536 2 779 983 2 675 801 2 439 449 2 545 161 2 620 445 2 533 913 2 269 595 2 372 752

Equity

Non-controlling interests 26 1 25 24 25 25 24 25 25 25Equity attributable to shareholders of Swedbank AB 164 612 5 244 159 368 153 742 155 168 150 564 144 394 141 531 138 608 133 745

Total equity 164 638 5 245 159 393 153 766 155 193 150 589 144 418 141 556 138 633 133 770

Total liabilities and equity 3 030 157 90 781 2 939 376 2 829 567 2 594 642 2 695 750 2 764 863 2 675 469 2 408 228 2 506 522

Equity attributable to shareholders of Swedbank AB, 30 Sep 2021 Goodwill, 30 Sep 2021

SEKm SEKm

Swedbank AB (Sweden) 106 334 Swedbank Robur 328

Swedbank Mortgage (Sweden) 46 218 Swedbank Försäkring 651

Swedbank Robur (Sweden) 2 910 Swedbank (Estonia) 4 316

Swedbank Försäkring (Sweden) 3 858 Swedbank (Latvia) 2 222

Sparia Försäkring Group (Sweden) 151 Swedbank (Lithuania) 3 774Swedbank (Estonia) 19 067 PayEx AB 573

Swedbank (Latvia) 9 977 Group total 11 864

Swedbank (Lithuania) 10 424

PayEx AB 953 Goodwill within parent company:

Ektornet (Sweden) 165 Swedbank AB (Sweden) 1 572

Other subsidiaries 1 564 Total goodwill 13 436

Total legal equity 201 621

Group adjustments and eliminations -37 009

Total equity attributable to shareholders of Swedbank AB 164 612


9

Financial information, GroupStatement of changes in equity Q3, 2021

Statement of changes in equity

Non-

controlling

SEKm interest Total equity

Share capital

Other

contributed

equity

Exchange

differences,

subsidiaries

and

associates

Hedging of

net

investments in

foreign

operations

Cash flow

hedges

Foreign

Currency

Basis Risk

Reserve

Own credit

risk reserve

Retained

earnings Total

Closing balance 31 December 2020 24 904 17 275 4 355 -2 669 1 -62 0 111 364 155 168 25 155 193

Opening balance 1 January 2021 24 904 17 275 4 355 -2 669 1 -62 0 111 364 155 168 25 155 193

Dividends -8 124 -8 124 0 -8 124

Share based payments to employees 153 153 153

Disposal of subsidiary 0 0

Total comprehensive income for the period 596 -352 1 5 0 17 165 17 415 1 17 416

Closing balance 30 September 2021 24 904 17 275 4 951 -3 021 2 -57 0 120 558 164 612 26 164 638

Specification of Exchange differences, subsidiaries and associates 30 Sep 31 Dec Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 2021 2021 2021 2020 2020 2020 2020 2019 2019

Estonian Operations 2 641 2 404 119 -278 396 -1 132 184 -1 214 1 272 -598 307

Latvian Operations 1 215 1 094 59 -139 201 -531 85 -572 601 -285 148

Lithuanian Operations 1 281 1 136 71 -168 242 -645 104 -687 720 -340 176

Norwegian Operations -216 -299 13 -32 102 5 -4 -9 -80 -41 -3

Robur, Ektornet and other 30 20 2 0 8 -30 -2 -21 32 -8 7

Total 4 951 4 355 264 -617 949 -2 333 367 -2 503 2 545 -1 272 635

Specification of Hedging of net investment in foreign operations 30 Sep 31 Dec Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 2021 2021 2021 2020 2020 2020 2020 2019 2019

Estonian Operations -1 748 -1596 -74 175 -253 728 -121 776 -807 380 -195

Latvian Operations -667 -591 -37 88 -127 333 -54 359 -375 178 -92

Lithuanian Operations -701 -617 -41 96 -139 364 -60 384 -397 187 -95

Norwegian Operations 121 154 -7 22 -48 0 6 -4 64 42 3

Robur, Ektornet and other -26 -19 -3 5 -9 9 2 -1 5 2 -2

Total -3 021 -2 669 -162 386 -576 1 434 -227 1 514 -1 510 789 -381

Specification of Cash flow hedges 30 Sep 31 Dec Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 2021 2021 2021 2020 2020 2020 2020 2019 2019

Amendments due to the adoption of IFRS 9

Group Treasury 1 -0 0 -2 3 -8 1 -11 10 -5 3

Other 1 1 -0 -0 0 -0 -1 -0 0 1 -2

Total 2 1 0 -2 3 -8 0 -11 10 -4 1

Shareholders' equity

10

Financial information, GroupNet interest income analysis, GroupQ3, 2021

Net interest income analysis, Group YTD YTD ∆ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Interest income

Cash and balances with central banks -834 -382 -312 -290 -232 -165 -211 -190 19 35 81

Treasury bills and other bills eligible for refinancing with central banks, etc. 49 61 -20 18 17 14 15 15 16 30 45 43

Loans to credit institutions 128 268 -52 44 47 37 46 56 80 132 130 151

Loans to the public 22 967 24 753 -7 7 674 7 634 7 659 7 892 8 101 8 350 8 302 8 201 8 311

Bonds and other interest-bearing securities 136 321 -58 42 47 47 57 176 104 41 57 -5

Derivatives 781 581 34 275 262 244 56 78 209 294 320 358

Other assets 125 144 -13 42 41 42 46 42 49 53 51 55

Total 23 352 25 746 -9 7 783 7 758 7 811 7 947 8 257 8 618 8 871 8 839 8 994

Deduction of trading-related interests reported in Net gains and losses on

financial items 47 59 -20 -4 68 -17 -157 43 -59 75 115 151

Total interest income 23 305 25 687 -9 7 787 7 690 7 828 8 104 8 214 8 677 8 796 8 724 8 843

Interest expense

Amounts owed to credit institutions 125 -214 28 92 5 10 -1 -78 -135 -130 -269

Deposits and borrowings from the public -293 -623 -53 -130 -126 -37 -224 -148 -147 -328 -261 -391

of which deposits guarantee fees -313 -354 -12 -142 -136 -35 -212 -119 -118 -117 -116 -128

Debt securities in issue -3 518 -5 860 -40 -1 102 -1 158 -1 258 -1 422 -1 594 -1 951 -2 315 -2 417 -2 750

Senior non-preferred liabilities -143 -112 28 -67 -48 -28 10 -57 -29 -26 -15

Subordinated liabilities -538 -651 -17 -198 -170 -170 -170 -183 -189 -279 -290 -247

Derivatives 1) 1 641 2 889 -43 568 570 503 561 781 938 1 170 1 131 1 658

Other liabilities -660 -729 -9 -216 -197 -247 -233 -247 -277 -205 -311 -314

of which resolution fee -599 -643 -7 -198 -172 -229 -220 -218 -249 -176 -278 -278

of which lease liabilities -31 -34 -9 -10 -11 -10 -10 -12 -11 -11 -11 -11

Total -3 386 -5 300 -36 -1 117 -1 037 -1 232 -1 468 -1 449 -1 733 -2 118 -2 293 -2 313

deduction of trading related interest reported in Net gains and losses on

financial items 216 101 80 81 55 69 51 58 -8 23 -23

Total interest expense -3 602 -5 401 -33 -1 197 -1 118 -1 287 -1 537 -1 500 -1 791 -2 110 -2 316 -2 290-31 -34 -9 -10 -11 -10 -10 -12 -11 -11 -11 -11

Net interest income 19 703 20 286 -3 6 590 6 572 6 541 6 567 6 714 6 886 6 686 6 408 6 553

Average balances

Cash and balances with central banks 527 278 324 874 62 624 474 523 415 445 003 366 954 377 798 346 657 256 612 224 711 256 661

Treasury bills and other bills eligible for refinancing with central banks, etc. 137 425 149 774 -8 149 043 140 301 123 606 119 742 141 925 151 397 160 884 159 731 150 038

Loans to credit institutions 51 502 57 167 -10 48 063 48 889 53 188 55 714 60 028 56 702 55 198 55 686 50 012

Loans to the public 1 674 713 1 691 822 -1 1 684 193 1 666 365 1 669 989 1 681 487 1 695 463 1 709 322 1 677 266 1 663 680 1 677 031

Bonds and other interest-bearing securities 67 403 87 783 -23 68 141 69 271 65 580 77 891 88 676 102 191 77 256 69 154 65 643

Interest-bearing assets 2 458 321 2 311 420 6 2 573 914 2 448 241 2 357 366 2 301 788 2 363 890 2 366 269 2 227 216 2 172 962 2 199 385

Derivatives 40 130 58 519 -31 37 786 38 968 45 213 51 509 56 527 63 329 60 991 50 327 57 825

Other assets 365 802 302 408 21 386 824 367 124 347 432 320 070 308 460 299 736 294 533 280 532 274 234

Total assets 2 864 253 2 672 347 7 2 998 524 2 854 333 2 750 011 2 673 367 2 728 877 2 729 334 2 582 740 2 503 821 2 531 444

Amounts owed to credit institutions 161 169 154 392 4 155 893 146 350 178 030 165 269 178 382 186 540 111 445 101 080 116 034

Deposits and borrowings from the public 1 260 059 1 091 461 15 1 316 909 1 266 593 1 203 304 1 162 829 1 145 420 1 103 087 1 027 060 997 779 982 990

Debt securities in issue 840 336 873 762 -4 897 541 842 009 789 165 787 334 833 425 884 745 910 576 888 766 922 669

Senior non-preffered liabilities 26 089 10 898 35 929 26 461 16 540 10 610 10 803 10 916 11 022 4 713

Subordinated liabilities 24 594 27 641 -11 26 015 23 683 23 713 24 231 24 823 25 966 31 350 32 617 30 710

Interest-bearing liabilities 2 312 247 2 158 154 7 2 432 287 2 305 096 2 210 752 2 150 273 2 192 853 2 211 254 2 091 453 2 024 955 2 052 403

Derivatives 32 296 48 557 -33 26 521 30 282 39 415 45 639 54 517 51 924 42 067 38 247 39 356

Other liabilities 357 920 318 081 13 373 989 358 746 341 202 321 108 330 555 319 305 304 781 301 231 303 923

Lease Liabilities 3 600 3 722 -3 3 526 3 625 3 650 3 641 3 745 3 734 3 699 3 630 3 729

Total liabilities 2 706 063 2 528 514 7 2 836 323 2 697 749 2 595 019 2 520 661 2 581 670 2 586 217 2 442 000 2 368 063 2 399 411

Equity 158 190 143 833 10 162 201 156 584 154 992 152 706 147 207 143 117 140 740 135 758 132 033

Total liabilities and equity 2 864 253 2 672 347 7 2 998 524 2 854 333 2 750 011 2 673 367 2 728 877 2 729 334 2 582 740 2 503 821 2 531 444

Average interest rates YTD YTD Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

% 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Cash and balances with central banks -0.21 -0.16 -0.05 -0.20 -0.22 -0.21 -0.18 -0.22 -0.22 0.03 0.06 0.13

Treasury bills and other bills eligible for refinancing with central banks, etc. 0.05 0.05 -0.01 0.05 0.05 0.05 0.05 0.04 0.04 0.07 0.11 0.11

Loans to credit institutions 0.33 0.63 -0.29 0.37 0.38 0.28 0.33 0.37 0.56 0.96 0.93 1.21

Loans to the public 1.83 1.95 -0.12 1.82 1.83 1.83 1.88 1.91 1.95 1.98 1.97 1.98

Bonds and other interest-bearing securities 0.27 0.49 -0.22 0.25 0.27 0.29 0.29 0.79 0.41 0.21 0.33 -0.03

Interest-bearing assets 1.21 1.42 -0.21 1.16 1.22 1.28 1.36 1.38 1.41 1.53 1.56 1.56

Amounts owed to credit institutions -0.10 0.18 -0.29 -0.07 -0.25 -0.01 -0.02 0.00 0.17 0.48 0.51 0.93

Deposits and borrowings from the public 0.03 0.08 -0.05 0.04 0.04 0.01 0.08 0.05 0.05 0.13 0.10 0.16

Debt securities in issue 0.56 0.89 -0.34 0.49 0.55 0.64 0.72 0.77 0.88 1.02 1.09 1.19

Senior non-preferred liabilities 0.73 1.37 -0.64 0.75 0.73 0.68 -0.38 2.11 1.06 0.94 1.27

Subordinated liabilities 2.92 3.14 -0.22 3.04 2.87 2.87 2.81 2.95 2.91 3.56 3.56 3.22

Lease liabilities 1.15 1.22 -0.07 1.13 1.21 1.10 1.10 1.28 1.18 1.19 1.21 1.18

Interest-bearing liabilities 0.25 0.46 -0.21 0.24 0.24 0.27 0.33 0.36 0.43 0.59 0.61 0.71

Net investment margin before trading-related interests are deducted 0.93 1.02 -0.08 0.89 0.94 0.96 0.97 1.00 1.01 1.05 1.05 1.06

Interest-bearing securities are reported net less sold, not held, securities.

1) Derivatives are mainly used to hedge FX and interest rate risk. Interest rate risks arises within the banking operations when there is a mismatch between the interest fixing periods of assets and liabilities. The positive interest expense on derivatives is primarily a

function of entered swap agreements, in which Swedbank receives fixed rates to match payments on long-term debt issuance and pays floating rates to match payments received on floating rate loans to the public. Interest income and interest expense on derivatives

which are held for trading financial instruments and related interests within LC&I are excluded from net interest income and reported as net gains and losses on financial items.

11

Financial information, GroupIncome analysisQ3, 2021

Income analysis, Group YTD YTD ∆ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019


Payment processing 588 650 -10 199 195 194 241 222 202 226 240 238

Cards 2 143 2 006 7 827 748 568 526 713 590 703 839 876

Service concepts 828 818 1 279 278 271 266 267 276 275 269 271

Asset management & Custody 5 311 4 117 29 1 884 1 738 1 689 1 604 1 464 1 288 1 365 1 443 1 357

Securities & Corporate Finance 360 256 41 84 164 112 226 63 78 115 165 17

Lending 802 694 16 281 260 261 244 239 223 232 209 239

Insurance 269 320 -16 86 91 92 90 98 102 120 90 109

Other 532 533 -0 159 200 173 179 180 166 187 160 190

Net commission income 10 833 9 394 15 3 799 3 674 3 360 3 376 3 246 2 925 3 223 3 415 3 297

Net gains and losses on financial items 1 783 1 745 2 553 645 585 910 669 1 398 -322 1 218 457

Net insurance 1 131 1 110 2 361 396 374 408 424 390 296 399 379

Sparbanken Skåne/Färs & Frosta Sparbank 127 104 22 44 40 44 38 47 38 19 31 37

Swedbank Sjuhärad 97 95 2 28 34 34 37 42 40 14 31 30

Other jointly owned banks in Sweden 92 55 66 39 25 27 21 20 18 18 13 20

EnterCard 384 200 92 127 138 118 47 112 50 39 203 113

VISA 2 2

Other companies 23 3 1 10 13 -21 10 -13 6 -26 13

Share of the profit or loss of associates 723 460 57 239 247 237 122 231 134 95 252 213

IT/administrative services to savings banks 830 786 6 279 283 268 312 287 292 207 159 207

Assets taken over 9 2 2 4 3 0 0 1 1 1 22

Other 129 129 46 49 34 69 33 50 46 104 98

Other income 968 917 6 327 336 305 381 320 343 254 264 327

Total income 35 141 33 912 4 11 869 11 870 11 402 11 764 11 604 12 076 10 232 11 956 11 226

12

Financial information, GroupExpense analysisQ3, 2021

Expense analysis, Group YTD YTD ∆ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Staff costs

Salaries and other remunerations 6 004 5 505 9 1 997 2 021 1 986 1 987 1 850 1 842 1 813 1 836 1 727

Variable staff costs 1)

317 188 69 104 97 116 174 74 43 71 51 126

Pension costs 1)

1 123 1 164 -4 362 381 380 391 400 390 374 313 325

Social insurance charges 1) 1 659 1 518 9 555 551 553 532 511 506 501 491 478

Training costs 38 49 -22 12 14 12 33 11 13 25 45 24

Other staff costs 237 244 -3 97 72 68 88 84 74 86 79 83

Total staff costs 9 378 8 668 8 3 127 3 136 3 115 3 205 2 930 2 868 2 870 2 815 2 763

Other expenses

Premises and rents 308 296 4 108 95 105 163 112 92 92 125 117

IT expenses 1 747 1 731 1 598 581 568 587 566 596 569 627 529

Telecommunications and postage 87 108 -19 29 27 31 54 31 31 46 30 37

Consultants 623 1 274 -51 192 217 214 271 215 307 752 776 409

Compensation to Savings Banks 171 174 -2 56 58 57 57 58 58 58 59 58

Other purchased services 667 682 -2 242 212 213 372 218 233 231 287 222

Travel 7 57 -88 4 2 1 5 3 4 50 71 44

Entertainment 13 17 -24 6 3 4 9 4 2 11 14 3

Supplies 43 62 -31 13 9 21 33 17 22 23 28 17

Advertising, PR and marketing 153 222 -31 58 56 39 198 62 83 77 138 69

Security transport and alarm systems 52 52 0 18 16 18 16 16 20 16 19 17

Repair/maintenance of inventories 85 75 13 31 30 24 19 21 24 30 26 20

Other administrative expenses 347 337 3 131 102 114 131 103 106 128 119 337Other operating expenses 104 46 126 27 29 48 59 9 10 27 23 139

Total other expenses 4 407 5 133 -14 1 513 1 437 1 457 1 974 1 435 1 588 2 110 2 342 2 018

Depreciation/amortisation 1 220 1173 4 402 416 402 407 396 387 390 392 3830

Administrative fine 4000 4 000

Total expenses 15 005 18 974 -21 5 042 4 989 4 974 5 586 4 761 4 843 9 370 5 549 5 164

1) Social insurance charges and pension costs related to variable pay are presented as variable staff costs.

IT-related expensesQ3, 2021

YTD YTD ∆ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

IT expenses

Software 456 456 179 150 127 202 144 161 151 143 145

IT-consultants 693 648 7 220 239 234 275 183 244 221 259 201

Other externally bought IT-services 598 627 -5 199 192 207 110 239 191 197 225 183

Total IT expenses 1 747 1 731 1 598 581 568 587 566 596 569 627 529

Other IT-related expenses

Staff costs (Swedbank's internal IT-organisation) 2)

1 639 1 444 14 552 537 550 537 506 474 464 443 431

Amortisation of internally developed software 275 244 13 86 99 90 96 82 82 80 73 74

Amortisation/depreciation of other IT-related assets 220 221 -0 74 73 73 74 74 64 83 66 75

Other IT-related expenses 2)

673 500 35 230 233 210 338 124 152 224 258 218

Total other IT-related expenses 2 807 2 409 17 942 942 923 1 045 786 772 851 840 798

IT Expenses 1 747 1 731 1 598 581 568 587 566 596 569 627 529

Other IT-related expenses 2 807 2 409 17 942 942 923 1 045 786 772 851 840 798

Total IT-related expenses 4 554 4 140 10 1 540 1 523 1 491 1 632 1 352 1 368 1 420 1 467 1 327

YTD YTD ∆ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Internally developed software

Opening Balance 4 319 3 350 29 4 744 4 552 4 319 3 931 3 777 3 523 3 350 3 141 2 989

Investments 963 825 17 293 347 323 484 236 336 253 295 226

Amortizations -275 -244 13 -86 -99 -90 -96 -82 -82 -80 -73 -74

Impairments -56 #DIV/0! -56 -13

Closing Balance 4 951 3 931 26 4 951 4 744 4 552 4 319 3 931 3 777 3 523 3 350 3 141

2) Definition of Staff costs, Leasing and depreciation of IT-equipment and Other IT-related expenses has changed compared to Q4 2020

13

Financial information, Group

Variable payQ3, 2021

Income Statement Impact Forecast

Year Program FY 2017 FY 2018 FY 2019 FY 2020 YTD 2021 2021-2025

2013 Eken 2013 14 435 811

IP 2013 5 376

2014 Eken 2014 93 21 521 777

IP 2014 6 5 256

2015 Eken 2015 49 48 11 233 457

IP 2015 13 19 1 224

2016 Eken 2016 65 64 42 14 264 457

IP 2016 20 15 11 4 193

2017 Eken 2017 75 63 47 53 14 14 252 406

IP/IPAM 2017 120 7 13 13 1 1 154

2018 Eken 2018 94 74 72 57 85 325 577

IP/IPAM 2018 182 33 20 13 17 252

2019 Eken 2019 67 58 45 116 241 415

IP/IPAM 2019 132 12 14 30 174

2020 Eken 2020 19 12 49 68 178

IP/IPAM 2020 83 0 27 110

2021 Eken 2021 47 259 259 431

IP/IPAM 2021 105 172 172

Other variable pay 10 9 14 9 9 314

Total 460 528 440 362 317 779 4 823

Actual

∑ programs

2) Duration period for each program is comprised of i) an initial performance year followed by ii) a deferral period prior to

iii) the delivery date year after the deferral period.

5) Positive Economic Profit is a prerequisite for Eken and IP. Size of Eken has direct connection to Group ROE.

6) Recognized expenses for shares after the performance year take into account forfeited rights and include social

charges based on the expected share price on the delivery date (assumed being equal to the current share price).

1) Variable Pay in Swedbank includes two programs, Eken and Individual Program ("IP"). Eken comprises essentially all

employees in the Group and consists of deferred compensation in the form of shares. IP comprises around 700

employees and consists of cash and deferred compensation in the form of shares.

3) The share part is recognized in the P/L over the duration period, 50 months, while cash part is recognized over 12

months (performance year). IP 2017, IP 2018, IP 2019, IP 2020 and IP 2021 programme excepted.

4) For IP 2017, IP 2018, IP 2019, IP 2021 IP 2021 both the share part and the cash part have a split of duration periods.

The recognition in the P/L follows the duration periods.

14

Business segments

YTD YTD Δ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement


Payment processing 23 65 -65 -16 11 28 27 12 18 35 23 17

Card commission 1 017 1 017 399 363 255 325 359 306 352 428 454


Asset management and custody 4 393 3 374 30 1 564 1 446 1 383 1 268 1 197 1 055 1 122 1 149 1 100

Securities & Corporate finance 203 165 23 69 78 56 118 52 48 65 44 55

Lending 29 42 -31 13 9 7 7 10 20 12 26

Insurance 205 256 -20 58 77 70 68 80 84 92 68 92

Other commissions 348 338 3 104 128 116 103 119 112 107 110 103

Net commission income 6 786 5 822 17 2 381 2 302 2 103 2 100 2 015 1 829 1 978 2 017 2 041

Net gains and losses on financial items 442 260 70 105 218 119 91 104 93 63 105 107

Net insurance 618 560 10 223 199 196 206 243 169 148 199 188

Share of the profit or loss of associates 762 492 55 250 263 249 150 239 147 106 278 211

Other income 114 119 -4 40 35 39 66 46 39 34 76 80

Total income 20 133 19 679 2 6 724 6 782 6 627 6 464 6 711 6 455 6 513 6 768 6 614

Staff costs 2 394 2 269 6 793 790 811 781 765 747 757 726 712

Variable staff costs 48 30 60 15 14 19 17 16 11 3 6 21

Expenses for premises 275 269 2 95 94 86 123 96 90 83 134 61

IT expenses 34 35 -3 10 12 12 8 9 16 10 11 7

Consultants 118 102 16 27 43 48 72 28 54 20 52 15

Other expenses 4 972 4 469 11 1 648 1 680 1 644 1 797 1 509 1 524 1 436 1 495 1 361

of which internally sold and bought services 4 535 3 961 14 1 503 1 531 1 501 1 550 1 350 1 349 1 262 1 283 1 193

Depreciation/amortisation 30 41 -27 9 11 10 12 13 14 14 19 58

Total expenses 7 871 7 215 9 2 597 2 644 2 630 2 810 2 436 2 456 2 323 2 443 2 235

Profit before impairments 12 262 12 464 -2 4 127 4 138 3 997 3 654 4 275 3 999 4 190 4 325 4 379

Credit impairments -110 665 -83 -34 7 -1 -140 432 373 10 27

Profit before tax 12 372 11 799 5 4 210 4 172 3 990 3 655 4 415 3 567 3 817 4 315 4 352

Tax expense 2 300 2 344 -2 777 774 749 664 862 722 760 800 838

Profit for the period from continuing operations 10 072 9 455 7 3 433 3 398 3 241 2 991 3 553 2 845 3 057 3 515 3 514

Profit for the period including non-controlling interest 10 072 9 455 7 3 433 3 398 3 241 2 991 3 553 2 845 3 057 3 515 3 514


Shareholders of Swedbank AB 10 071 9 455 7 3 432 3 397 3 242 2 991 3 552 2 846 3 057 3 515 3 512

Non-controlling interests 1 1 1 -1 1 -1 2

Swedish BankingQ3, 2021

15

Business segments

30 Sep 30 Sep Δ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKbn 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Balance sheet (Incl intra-Group transactions)

Assets

Cash and balances with central banks 2 1 100 2 2 1 1 1 1 1 1 1

Loans to credit institutions 7 7 0 7 7 7 7 7 6 8 6 6

Loans to the public 5) 1 243 1 211 3 1 243 1 228 1 215 1 211 1 211 1 204 1 200 1 196 1 200

Bonds and other interest-bearing securities

Financial assets for which customers bear inv. risk 294 234 26 294 288 271 246 234 218 193 219 209

Derivatives

Other assets 11 10 10 11 10 14 11 10 11 11 11 9

Total assets 1 557 1 463 6 1 557 1 535 1 508 1 476 1 463 1 440 1 413 1 433 1 425


Amounts owed to credit institutions 26 30 -13 26 28 28 27 30 29 29 26 25

Deposits and borrowings from the public 691 627 10 691 683 650 646 627 614 585 571 567

Debt securities in issue

Financial liabilities for which customers bear inv. risk 295 235 26 295 289 274 247 235 218 195 220 209

Derivatives

Other liabilities 481 503 -4 481 471 492 489 503 511 537 551 559

Senior non-preferred liabilities

Subordinated liabilities

Allocated equity 64 68 -6 64 64 64 67 68 68 67 65 65

Total liabilities and equity 1 557 1 463 6 1 557 1 535 1 508 1 476 1 463 1 440 1 413 1 433 1 425

Key figures

Key performance indicators

Return on allocated equity, % 20.7 18.8 21.3 21.1 19.8 17.7 20.8 16.9 18.7 21.7 21.6

Cost/Income ratio 0.39 0.37 0.39 0.39 0.40 0.43 0.36 0.38 0.36 0.36 0.34

Credit impairment ratio, % -0.01 0.07 -0.03 -0.01 0.00 0.00 -0.05 0.14 0.12 0.00 0.01

Loan/Deposit ratio, % 180 193 180 180 187 187 193 196 205 209 212

Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 1 243 1 211 3 1 243 1 228 1 215 1 211 1 211 1 204 1 200 1 196 1 200

Deposits from the public excluding repos & SNDO 1) 691 627 10 691 682 650 646 627 613 585 571 567

Mutual funds & insurance 1 071 876 22 1 071 1 058 1 005 923 876 811 718 831 785

Allocated equity, average, SEKm 64 963 66 983 -3 64 511 64 496 65 472 67 475 68 324 67 442 65 449 64 731 65 067

Risk exposure amount 2) 404 400 1 404 399 400 391 400 399 395 391 387

Commitments 172 162 6 172 176 160 154 162 154 136 133 139

Full-time employees 3 984 3 908 2 3 984 3 926 3 950 3 962 3 908 3 794 3 662 3 592 3 610

Other information (millions)

Number of digitally active customers (incl. Savings banks) 3) 3.3 3.2 4.3 3.3 3.3 3.2 3.2 3.2 3.2 3.1 3.1 3.1

of which Savings banks 1.1 1.0 4.9 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Share of sales in digital channels (Swedbank), % 73.9 69.6 4.2 72.7 71.2 76.7 69.0 71.5 70.5 66.8 56.0 56.8

Number of cards (debit cards) 4.4 4.4 0.6 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.3 4.3

Number of card purchases 972 963 1 361 330 281 308 342 306 315 342 366

POS/total card turnover, % 4) 90 89 1 90 90 89 89 89 89 88 87 87

Number of card acquiring, Nordic Countries 2 080 2 036 2 769 716 595 672 727 656 652 716 735

Total acquired amount, Nordic Countries, SEKm 577 093 545 800 6 211 499 201 015 164 579 188 671 194 576 182 220 169 003 192 817 193 399

1) Excluding intra-Group transactions.

2) Risk exposure amount is reported according to Basel 3.

3) Number of customers that have made at least 3 logins including shake balance in digital channel during last month.

4) Point of Sale (POS).

5) A decline in Swedish Banking in Q3 2019 was due to Ölands deconsolidation (which had net effect of SEK -4bn).

Swedish BankingQ3, 2021

Large corporate clients have been moved from Swedish Banking to Large Corporates & Institutions during Q4-2020. Business volumes (Loans to the public of SEK 2bn) have been

moved between the business segments. No restatement of historical comparative figures have been made.

16

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement



Card commission 898 797 13 336 309 253 277 282 241 274 320 307


Asset management and custody 226 220 3 81 75 70 76 74 69 77 82 88

Securities & Corporate Finance 26 27 -4 6 11 9 11 11 11 5 8 9

Lending 118 127 -7 42 40 36 39 42 44 41 44 43

Insurance 62 57 9 22 21 19 19 19 18 20 20 17


Net commission income 1 928 1 824 6 682 651 595 606 620 581 623 671 664


Net insurance 504 609 -17 135 183 186 213 201 239 169 220 209

Other income 67 61 10 25 20 22 29 15 22 24 41 25

Total income 6 688 6 819 -2 2 226 2 330 2 132 2 214 2 236 2 350 2 233 2 383 2 344

Staff costs 1 047 1 017 3 365 352 330 364 349 342 326 337 339



IT expenses 18 2 6 6 6 1 1 1 7 8

Consultants 8 14 -43 2 5 1 10 3 5 6 20 6

Other expenses 1 544 1 335 16 566 509 469 559 466 427 442 527 440

of which internally sold and bought services 1 170 1 032 13 358 424 388 399 365 332 335 372 339


Total expenses 2 856 2 595 10 1 020 950 886 1 029 895 850 850 976 884

Profit before impairments 3 832 4 224 -9 1 206 1 380 1 246 1 185 1 341 1 500 1 383 1 407 1 460

Impairment of tangible assets 1 1 1 5 2

Credit impairments 177 245 -28 -20 -23 220 -8 43 56 146 -3 10

Profit before tax 3 655 3 978 -8 1 226 1 403 1 026 1 192 1 297 1 444 1 237 1 405 1 448

Tax expense 613 667 -8 207 234 172 197 214 237 216 200 207

Profit for the period from continuing operations 3 042 3 311 -8 1 019 1 169 854 995 1 083 1 207 1 021 1 205 1 241

Profit for the period including non-controlling interest 3 042 3 311 -8 1 019 1 169 854 995 1 083 1 207 1 021 1 205 1 241


Shareholders of Swedbank AB 3 042 3 311 -8 1 019 1 169 854 995 1 083 1 207 1 021 1 205 1 241

Baltic BankingQ3, 2021

17

Business segments


SEKbn 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019


Assets

Cash and balances with central banks 3 3 3 3 3 3 3 3 3 3 3

Loans to credit institutions

Loans to the public 192 190 1 192 187 188 182 190 187 198 186 187

Bonds and other interest-bearing securities 1 1 1 1 1 1 1 1 1 1 1

Financial assets for which customers bear inv. risk 7 6 17 7 7 7 6 6 5 5 6 5

Derivatives

Other assets 131 105 25 131 129 133 122 105 96 84 77 70

Total assets 334 305 10 334 327 332 314 305 292 291 273 266


Amounts owed to credit institutions


Debt securities in issue 1 1 1 1 1 1 1 2 1 2

Financial liabilities for which customers bear inv. risk 7 6 17 7 7 7 6 6 6 5 6 6

Derivatives

Other liabilities


Subordinated liabilities


Total liabilities and equity 334 305 10 334 327 332 314 305 292 291 273 266

Key figures




Credit impairment ratio, % 0.13 0.17 -0.04 -0.05 0.48 -0.02 0.09 0.11 0.30 -0.01 0.02


Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 192 190 1 192 187 188 182 190 187 198 186 188


Mutual funds & insurance 69 64 8 69 73 70 71 64 59 63 66 64

Discretionary asset management 1 1 1 3 1 2 1 1 2 2 3

Goodwill 10 10 10 10 10 10 10 10 10 10 10


Risk exposure amount 103 95 8 103 99 97 92 95 95 100 94 96

Commitments 25 22 14 25 21 18 19 22 25 26 25 27



Number of digitally active customers 2) 2.1 1.9 11 2.1 2.1 2.1 2.0 1.9 1.9 1.9 1.9 1.9

Share of sales in digital channels, % 78.3 78.1 0.1 76.0 78.0 80.6 77.8 78.6 76.6 77.7 69.5 67.9

Number of cards 3.8 3.8 -0 3.8 3.7 3.8 3.8 3.8 3.8 3.8 3.8 3.8

Number of card purchases 524.1 485.9 8 200.1 179.4 144.6 165.5 182.5 148.5 154.9 167.4 163.4

POS/total card turnover, % 3) 58.3 54.7 4 59.1 58.2 57.2 56.1 55.1 55.4 53.7 52.9 51.7

Number of card acquiring 363 341 7 138.9 122.3 102.2 117.7 128.3 103.8 109.1 118.4 120.3

Total acquired amount, SEKm 63 931 58 168 10 24 707 21 482 17 742 21 196 21 635 18 462 18 071 20 462 20 997

Key figures in Euro

Income statement, EURm

Net interest income 385.8 386.8 -0 127.4 136.2 122.2 123.1 126.2 132.4 128.2 128.0 125.5

Total income 658.8 645.5 2 219.0 229.4 210.4 215.3 215.6 220.9 209.0 224.6 218.9

Total expenses 281.4 245.6 15 100.3 93.6 87.5 100.3 86.3 80.0 79.4 92.1 82.5

Profit for the period 299.7 313.9 -5 100.3 114.9 84.4 96.6 104.5 113.5 95.9 113.5 115.8

Volumes and balance sheet, EURbn

Total assets 21.3 20.2 5 21.3 20.9 20.7 20.4 20.2 20.1 20.2 20.1 19.7

Loans to the public excluding repos & SNDO 1) 18.9 18.0 5 18.9 18.5 18.4 18.1 18.0 17.9 18.0 17.8 17.5

Deposits from the public excluding repos & SNDO 1) 29.6 25.8 15 29.6 29.2 29.3 28.3 25.8 24.8 23.3 23.1 21.7

Allocated equity, average, EURm 2 393 2 455 -3 2 420 2 381 2 375 2 456 2 460 2 457 2 455 2 424 2 416

Risk exposure amount 10.2 9.1 12 10.2 9.8 9.5 9.0 9.1 9.1 9.1 9.0 8.9




Baltic BankingQ3, 2021

18

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 1 783 1 821 -2 576 650 557 574 587 622 612 606 600


Card commission 266 228 17 99 90 77 84 79 67 82 97 96

Service concepts 23 12 92 8 8 7 6 6 5 1

Asset management and custody 94 95 -1 32 32 30 30 31 29 35 37 42


Lending 36 37 -3 13 12 11 12 11 13 13 14 14

Insurance 18 17 6 6 6 6 5 6 5 6 6 5


Net commission income 602 554 9 209 205 188 190 187 176 191 213 215

Net gains and losses on financial items 87 58 50 28 28 31 38 28 39 -9 27 29

Net insurance 262 309 -15 75 93 94 108 108 123 78 111 108

Other income 27 27 10 8 9 13 7 10 10 19 9

Total income 2 761 2 769 -0 898 984 879 923 917 970 882 976 961

Staff costs 354 352 1 119 123 112 129 117 121 114 118 120


Expenses for premises 7 7 3 3 1 5 2 4 1 5 6

IT expenses 5 2 2 1 1 2 3

Consultants 4 12 -67 1 2 1 8 2 5 5 12 6

Other expenses 652 554 18 243 217 192 222 192 178 184 188 176

of which internally sold and bought services 518 458 13 160 189 169 171 160 148 150 139 143


Total expenses 1 092 994 10 390 372 330 390 337 331 326 347 337

Profit before impairments 1 669 1 775 -6 508 612 549 533 580 639 556 629 624

Credit impairments 97 145 -33 -11 3 105 -10 35 51 59 16 -9

Profit before tax 1 572 1 630 -4 519 609 444 543 545 588 497 613 633

Tax expense 220 225 -2 73 85 62 74 74 78 73 84 89

Profit for the period from continuing operations 1 352 1 405 -4 446 524 382 469 471 510 424 529 544

Profit for the period including non-controlling interest 1 352 1 405 -4 446 524 382 469 471 510 424 529 544


Shareholders of Swedbank AB 1 352 1 405 -4 446 524 382 469 471 510 424 529 544

Key figures




Credit impairment ratio, % 0.15 0.22 -0.05 0.01 0.49 -0.05 0.16 0.22 0.26 0.08 -0.04


Volumes, SEKbn



Mutual funds & insurance 20 23 -13 20 26 25 28 23 22 25 27 25

Discretionary asset management 1 1 1 3 1 2 1 1 2 2 3

Goodwill 4 4 4 4 4 4 4 4 4 4 4



Commitments 11 9 22 11 9 8 7 9 9 10 9 9

Full-time employees 1 371 1 384 -1 1 371 1 369 1 395 1 391 1 384 1 391 1 354 1 366 1 370



Share of sales in digital channels, % 80.9 82.5 -1.6 80.9 80.0 81.7 80.8 82.6 80.6 83.1 70.8 68.4

Number of cards 1.1 1.1 -2 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1



Number of card acquiring 164.2 154.7 6 63.5 55.2 45.5 53.2 57.7 46.5 50.4 55.3 56.6



2) Number of customers that have made at least 3 logins including shake balance in a digital channel during last month.


EstoniaQ3, 2021

19

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 891 944 -6 286 322 283 288 301 325 318 321 324

Payment processing 123 122 1 42 37 44 35 39 38 45 37 42

Card commission 284 265 7 104 97 83 92 93 81 91 102 98


Securities & Corporate Finance 5 5 1 2 2 2 2 2 1 1 2

Lending 32 35 -9 11 11 10 11 12 12 11 11 12

Insurance 11 11 4 3 4 4 4 3 4 5 3



Net gains and losses on financial items 71 71 24 25 22 22 22 23 26 29 30

Net insurance 93 116 -20 23 35 35 44 43 45 28 43 47

Other income 19 15 27 6 6 7 9 6 4 5 6 5

Total income 1 653 1 692 -2 545 579 529 545 557 568 567 594 601

Staff costs 274 266 3 99 90 85 90 94 89 83 85 89



IT expenses 5 2 1 2 1 2 2

Consultants 1 3 1

Other expenses 463 404 15 164 157 142 169 142 128 134 175 136



Total expenses 814 737 10 291 271 252 289 259 241 237 289 251

Profit before impairments 839 955 -12 254 308 277 256 298 327 330 305 350

Impairment of tangible assets 4

Credit impairments 54 48 13 -11 -16 81 5 10 -3 41 -13 5

Profit before tax 785 907 -13 265 324 196 251 288 330 289 314 345

Tax expense 157 180 -13 53 64 40 51 55 65 60 47 52

Profit for the period from continuing operations 628 727 -14 212 260 156 200 233 265 229 267 293


Profit for the period including non-controlling interest 628 727 -14 212 260 156 200 233 265 229 267 293


Shareholders of Swedbank AB 628 727 -14 212 260 156 200 233 265 229 267 293

Key figures




Credit impairment ratio, % 0.20 0.16 -0.12 -0.17 0.89 0.06 0.10 -0.03 0.42 -0.14 0.05


Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 37 38 -3 37 36 38 36 38 38 40 37 38



Goodwill 2 2 2 2 2 2 2 2 2 2 2



Commitments 6 6 6 5 4 6 6 7 7 6 7




Share of sales in digital channels, % 75.2 74.8 0 72.4 75.1 77.2 74.3 75.7 73.8 73.0 67.2 61.6

Number of cards 1.0 1.0 0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0



Number of card acquiring 75.9 90.4 -16 28.1 24.2 23.6 28.9 33.8 27.7 29.0 31.2 31.0

Total acquired amount, SEKm 12 007 13 380 -10 4 583 3 849 3 575 4 531 4 992 4 196 4 192 4 835 4 945




LatviaQ3, 2021

20

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 1 243 1 323 -6 433 412 398 403 421 462 440 431 421


Card commission 348 303 15 132 123 93 102 109 92 102 120 114


Asset management and custody 59 64 -8 23 19 17 22 23 20 21 24 23


Lending 50 54 -7 18 17 15 17 18 19 17 19 18

Insurance 32 29 10 11 11 10 10 9 10 10 10 9

Other commissions 49 54 -9 17 14 18 17 18 17 19 19 24



Net insurance 149 184 -19 37 55 57 60 50 72 62 65 54

Other income 24 19 26 9 7 8 8 5 6 8 15 8

Total income 2 278 2 358 -3 783 768 727 746 765 811 782 810 781

Staff costs 294 282 4 104 96 94 102 101 93 88 89 95


Expenses for premises 25 26 -4 8 8 9 12 9 9 8 12 12

IT expenses 5 1 1 2 2 1 3 2

Consultants 1 1 1 3

Other expenses 574 494 16 207 189 178 212 175 158 161 203 162



Total expenses 953 852 12 338 313 302 347 303 275 274 328 289

Profit before impairments 1 325 1 506 -12 445 455 425 399 462 536 508 482 492

Impairment of tangible assets 1 1 1 1 2

Credit impairments 26 52 -50 2 -10 34 -3 -2 8 46 -6 14

Profit before tax 1 299 1 453 -11 443 465 391 401 463 528 462 487 476

Tax expense 236 263 -10 81 85 70 74 84 95 84 69 67

Profit for the period from continuing operations 1 063 1 190 -11 362 380 321 327 379 433 378 418 409


Profit for the period including non-controlling interest 1 063 1 190 -11 362 380 321 327 379 433 378 418 409


Shareholders of Swedbank AB 1 063 1 190 -11 362 380 321 327 379 433 378 418 409

Key figures




Credit impairment ratio, % 0.06 0.11 0.02 -0.06 0.22 -0.02 -0.01 0.05 0.28 -0.04 0.10


Volumes, SEKbn




Discretionary asset management

Goodwill 4 4 4 4 4 4 4 4 4 4 4



Commitments 8 7 14 8 7 6 6 7 9 9 10 11

Full-time employees 1 386 1 408 -2 1 386 1 405 1 405 1 403 1 408 1 396 1 395 1 389 1 377



Share of sales in digital channels, % 77.8 75.8 2 74.0 77.9 81.4 76.9 76.9 74.6 73.8 69.6 71.1

Number of cards 1.7 1.7 1 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7



Number of card acquiring 123.3 96.1 28 47.4 42.9 33.1 35.5 36.8 29.6 29.7 31.9 31.6





LithuaniaQ3, 2021

21

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 1 -1 1

Payment processing -1 1 -1

Card commission 1 1 -1 -1 1 1 -1 1 -1

Service concepts 1 -1

Asset management 1 -1 1 -1 2

Securities & Corporate Finance 1 -1 1 -1 1 -1 -1 1

Lending 1 -1 1 -1

Insurance 1 1 1 -1 -1

Other commissions -2 -1 100 -4 2 1 -1 3 -2

Net commission income 1 -1 -1

Net gains and losses on financial items -1 -1 -1 1 -1

Net insurance 1 -1 1 1

Other income -3 -1 -2 -1 -3 2 1 1 3

Total income -4 -1 -3 -3 1 2 3 1

Staff costs 125 117 7 43 43 39 43 37 39 41 45 35

Variable staff costs 5 3 67 2 3 2 1 2 -1 3

Expenses for premises 4 3 33 1 2 1 3 1 2 1 2

IT expenses 3 1 1 1 1 -1 1 1

Consultants 3 2 50 1 2 1 1 2 -1

Other expenses -145 -117 24 -48 -54 -43 -44 -43 -37 -37 -39 -34

of which internally sold and bought services -135 -118 14 -44 -51 -40 -41 -41 -37 -40 -39 -37

Depreciation/amortisation 2 3 -33 1 1 3 4 1

Total expenses -3 12 1 -6 2 3 -4 3 13 12 7

Profit before impairments -1 -12 -92 -1 5 -5 -3 1 -2 -11 -9 -6

Credit impairments

Profit before tax -1 -12 -92 -1 5 -5 -3 1 -2 -11 -9 -6

Tax expense -1 -2 1 -1 -1 -1

Profit for the period from continuing operations -1 -11 -91 -1 5 -5 -1 -1 -10 -9 -5


Profit for the period including non-controlling interest -1 -11 -91 -1 5 -5 -1 -1 -10 -9 -5


Shareholders of Swedbank AB -1 -11 -91 -1 5 -5 -1 -1 -10 -9 -5

Key figures


Cost/Income ratio 0.75 6.00 -0.67 1.33 3.00 6.50 4.00 7.00

Full-time employees 292 266 10 292 288 274 272 266 264 256 252 254

Amortisation plan Baltic Banking Investment 2021

Intangible assets, customer base (amortisation) 2


Other Baltic BankingQ3, 2021

22

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 2 735 2 892 -5 922 909 904 942 925 1 007 960 931 941

Payment processing 259 242 7 110 74 75 107 88 74 80 86 88

Card commission 215 121 78 87 81 47 -96 47 22 52 63 90

Service concepts 134 139 -4 46 45 43 40 41 48 50 42 45


Securities & Corporate finance 187 118 58 34 96 57 103 18 38 62 137 -28

Lending 618 471 31 218 196 204 180 168 147 156 137 146

Other commissions 148 172 -14 29 63 56 56 56 50 66 71 50


Net gains and losses on financial items 933 1 220 -24 300 284 349 677 503 1 032 -315 551 312

Share of the profit or loss of associates -23 -16 44 -7 -9 -7 -16 -4 -6 -6 -18

Other income 116 107 8 46 37 33 41 33 45 29 18 61

Total income 6 028 5 990 1 2 027 2 002 1 999 2 293 2 067 2 619 1 304 2 200 1 874

Staff costs 1 826 1 675 9 575 623 628 652 533 552 590 598 510

Variable staff costs 126 40 28 33 65 54 14 26 10 47


IT expenses 585 562 4 198 201 186 226 190 180 192 224 183

Consultants 108 142 -24 33 43 32 62 23 76 43 41 23

Other expenses 206 299 -31 76 77 53 19 116 66 117 59 115

of which internally sold and bought services -93 -116 -20 -20 -24 -49 -100 -28 -64 -24 -77 11


Total expenses 3 158 2 990 6 1 006 1 086 1 066 1 113 969 965 1 056 1 031 976

Profit before impairments 2 870 3 000 -4 1 021 916 933 1 180 1 098 1 654 248 1 169 898

Impairment of intangible assets 13 13 13 66

Credit impairments 174 2 888 -94 124 31 19 537 521 740 1 627 981 117

Profit before tax 2 683 112 897 872 914 643 577 914 -1 379 175 715

Tax expense 530 -418 173 177 180 147 -42 176 -552 46 152

Profit for the period from continuing operations 2 153 530 724 695 734 496 619 738 -827 129 563

Profit for the period including non-controlling interest 2 153 530 724 695 734 496 619 738 -827 129 563


Shareholders of Swedbank AB 2 153 530 724 695 734 496 619 738 -827 129 563

Large Corporates & InstitutionsQ3, 2021

23

Business segments

30 Sep 30 Jun Δ % Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKbn 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019


Assets


Loans to credit institutions 332 97 332 275 180 109 97 80 95 81 83

Loans to the public 266 282 -6 266 253 264 263 282 324 297 270 278

Bonds and other interest-bearing securities 55 82 -33 55 81 79 52 82 88 109 45 76

Financial assets for which customers bear inv. risk

Derivatives 46 62 -26 46 50 55 65 62 66 92 53 67

Other assets 54 33 64 54 36 51 27 33 38 38 12 24

Total assets 928 679 37 928 851 795 647 679 711 682 503 531


Amounts owed to credit institutions 428 210 428 381 326 263 210 198 241 177 199


Debt securities in issue 5 7 -29 5 6 7 7 7 7 8 10 11

Financial liabilities for which customers bear inv. risk

Derivatives 43 65 -34 43 48 57 67 65 74 91 55 68

Other liabilities 165 157 5 165 125 115 51 157 202 113 83 67


Subordinated liabilities 1 1


Total liabilities and equity 928 679 37 928 851 795 647 679 711 682 503 531

Key figures


Return on allocated equity, % 8.8 2.2 9.2 8.3 9.0 6.0 7.3 8.9 -11.6 1.9 8.1


Credit impairment ratio, % 0.08 1.30 0.18 0.04 0.03 0.68 0.57 0.89 2.20 1.32 0.15


Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 218 221 -1 218 222 218 223 221 234 234 223 225



Discretionary asset management 484 453 7 484 471 464 457 453 434 421 446 452

Allocated equity, average, SEKm 32 452 31 680 2 31 455 33 303 32 797 33 189 33 688 33 041 28 545 27 463 27 711

Risk exposure amount 168 170 -1 168 162 171 168 170 172 172 144 150

Commitments 153 142 8 153 147 153 153 142 135 122 129 123



ESG bonds arranged by Swedbank

ESG bonds arranged by Swedbank 1) Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Transactions arranged during the period (number) 23 36 25 18 24 14 7 17 11

Total volume arranged during the period (SEKbn) 12.1 15.1 12.3 7.8 15.7 8.5 4.7 7.0 3.3

Share in relation to total volume arranged during the period (%) 26 31 20 23 42 19 11 19 8

Total volume arranged since inception (SEKbn) 130.6 118.6 103.5 91.2 83.4 67.7 59.3 54.6 47.6

1) Green, Social, Sustainability bonds and Sustainability-linked bonds (Sustainability-linked bonds as of 2021).

Large Corporates & InstitutionsQ3, 2021

Large corporate clients have been moved from Swedish Banking to Large Corporates & Institutions during Q4-2020. Business volumes (Loans to the public of SEK 2bn) have been

moved between the business segments. No restatement of historical comparative figures have been made.

24

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 1 652 899 84 651 519 482 517 421 300 178 28 280

Payment processing -18 1 2 4 -24 -28 17 -5 -11 16 13

Card commission 3 3 1 2 -3 5 -3 1 3 -1

Service concepts -1 -1 1 -1 2 -2

Asset management and custody -10 2 -2 -7 -1 2 2 4 -4 30

Securities & Corporate finance -60 -51 18 -26 -22 -12 -14 -17 -16 -18 -25 -21

Lending 42 59 -29 10 16 16 21 20 15 24 29 24

Insurance -2 3 5 -9 2 2 -2 -2 7 -1

Other commissions -105 -110 -5 -21 -35 -49 -24 -39 -38 -33 -66 -14

Net commission income -151 -93 62 -32 -50 -69 -44 -14 -43 -36 -13

Net gains and losses on financial items 135 28 59 50 26 43 -29 174 -117 469 -63

Net insurance 13 11 18 5 4 4 4 3 5 3 2 5

Share of profit or loss of associates and joint ventures -16 -16 -4 -7 -5 -12 -4 -7 -5 -8 2

Other income 891 734 21 339 293 259 329 256 263 215 200 201

Total income 2 524 1 563 61 1 018 809 697 837 633 692 238 678 425

Staff costs 3 805 3 529 8 1 294 1 278 1 233 1 238 1 212 1 188 1 129 1 103 1 077


Expenses for premises -130 -117 11 -41 -54 -35 -23 -35 -44 -38 -67 -8

IT expenses 1 779 1 132 57 606 590 583 204 354 388 390 439 410

Consultants 389 1 016 -62 130 126 133 127 161 172 683 680 365

Other expenses -5 454 -4 152 31 -1 781 -1 905 -1 768 -1 238 -1 500 -1 382 -1 270 -1 273 -1 006

of which internally sold and bought services -6 217 -4 840 28 -2 044 -2 137 -2 036 -1 686 -1 667 -1 598 -1 575 -1 607 -1 620



Total expenses 1 352 6 313 -79 545 362 445 678 504 612 5 197 1 172 1 100

Profit before impairments 1 172 -4 750 473 447 252 159 129 80 -4 959 -494 -675

Impairment of intangible assets 43 43

Impairment of tangible assets -1

Credit impairments -4 13 -3 -1 -5 1 7 5

Profit before tax 1 133 -4 763 476 405 252 164 128 73 -4 964 -494 -674

Tax expense 363 114 153 103 107 136 121 19 -26 -73 -21

Profit for the period from continuing operations 770 -4 877 323 302 145 28 7 54 -4 938 -421 -653

Profit for the period including non-controlling interest 770 -4 877 323 302 145 28 7 54 -4 938 -421 -653


Shareholders of Swedbank AB 770 -4 877 323 302 145 28 7 54 -4 938 -421 -653

Group Functions & OtherQ3, 2021

25

Business segments


SEKbn 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019


Assets



Loans to the public 2 25 2 2 2 2 3

Bonds and other interest-bearing securities 152 123 24 152 144 113 147 123 161 161 151 166

Derivatives 26 45 -42 26 27 39 33 45 41 60 29 49

Other assets 432 476 -9 432 409 400 364 476 499 488 498 493

Total assets 1 458 1 100 33 1 458 1 375 1 150 993 1 100 1 170 1 160 1 006 1 096




Debt securities in issue 914 811 13 914 878 824 730 811 863 905 848 911

Derivatives 16 28 -43 16 20 22 33 28 34 31 24 26

Other liabilities -18 -18 -18 -24 -19 -15 -18 -22 -18 -4 -9

Senior non-preferred liabilities 37 11 37 35 20 10 11 11 11 11

Subordinated liabilities 28 25 12 28 24 24 23 25 25 27 32 33

Allocated equity 46 23 100 46 39 33 31 23 16 18 21 15

Total liabilities and equity 1 458 1 100 33 1 458 1 375 1 150 993 1 100 1 170 1 160 1 006 1 096

Key figures


Return on allocated equity, % 2.8 -33.7 3.1 3.5 1.8 0.4 0.1 1.3 -100.2 -9.1 -19.5


Credit impairment ratio, % -0.01 0.09 -0.07 -0.04 -0.10 0.02 0.16 0.09


Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 0 1

Deposits from the public excluding repos & SNDO 1) 77 57 35 77 79 42 1 57 60 36 24



Commitments 2 1 1



Group Functions & OtherQ3, 2021

26

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income 1 771 1 022 73 690 557 524 551 465 338 219 68 324

Payment processing 3 1 1 1 1 1 1

Asset management and custody -1 -1 -1 -1 -1

Securities & Corporate finance -29 -34 -15 -10 -10 -9 -8 -11 -9 -14 -18 -12

Lending 1 2 -50 2 -1 1 1 1 1 1

Deposits 1 1

Other commissions -4 -1 -1 -2 -3

Net commission income -26 -36 -28 -9 -8 -9 -7 -11 -10 -15 -18 -13

Net gains and losses on financial items 132 -14 56 33 43 17 -44 146 -116 466 -72

Share of the profit or loss of associates 3 4 -25 1 1 1 -2 1 3

Other income 31 18 72 10 11 10 6 5 6 7 7 6

Total income 1 911 994 92 748 594 569 565 416 483 95 523 245

Staff costs 64 61 5 21 21 22 21 21 20 20 21 22


Consultants 2 3 -33 1 1 1 1 1 1 2 3

Other expenses -9 -22 -59 3 -7 -5 -7 -10 -7 -5 -7 -1

of which internally sold and bought services -23 -30 -23 -2 -12 -9 -11 -11 -11 -8 -8 -5

Depreciation/amortisation 1

Total expenses 66 47 40 28 17 21 20 13 15 19 19 26

Profit before impairments 1 845 947 95 720 577 548 545 403 468 76 504 219

Impairment of intangible assets -1

Credit impairments -5 13 1 -4 -2 1 -4 2 7 4

Profit before tax 1 850 934 98 724 579 547 549 401 461 72 504 220

Tax expense 491 359 37 189 157 145 149 164 99 96 95 133

Profit for the year from continuing operations 1 359 575 535 422 402 400 237 362 -24 409 87

Profit for the year from discontinued operations, after tax 1

Profit for the period including non-controlling interest 1 359 575 535 422 402 400 237 362 -24 409 87


Shareholders of Swedbank AB 1 359 575 535 422 402 400 237 362 -24 409 87

Balance sheet (Incl intra-Group transactions), SEKbn

Assets



Loans to the public 2 25 2 2 2 3 3

Bonds and other interest-bearing securities 152 123 24 152 144 113 147 123 161 161 151 166

Derivatives 26 44 -41 26 27 39 33 44 41 60 29 49

Other assets 426 467 -9 426 402 390 349 467 489 475 477 477

Total assets 1 448 1 088 33 1 448 1 367 1 137 976 1 088 1 158 1 144 983 1 076




Debt securities in issue 914 811 13 914 879 825 729 811 863 905 848 911

Derivatives 16 27 -41 16 19 22 33 27 35 31 24 26

Other liabilities 11 9 22 11 7 6 10 9 6 5 12 9



Allocated equity 42 20 42 36 30 28 20 13 14 18 13

Total liabilities and equity 1 448 1 088 33 1 448 1 367 1 137 976 1 088 1 158 1 144 983 1 076

Key figures


Return on allocated equity, % 5.4 4.6 5.5 5.3 5.5 6.5 5.8 10.2 -0.6 10.3 3.3



Volumes, SEKbn

Loans to the public excluding repos & SNDO 1) 1

Deposits from the public excluding repos & SNDO 1) 78 57 37 78 79 42 1 57 60 36 24

Allocated equity, average, SEKm 33 619 16 503 38 888 31 906 29 499 24 499 16 328 14 132 17 036 15 825 10 661


Commitments 2 1

Full-time employees 62 69 -10 62 65 69 70 69 67 63 65 67


Group TreasuryQ3, 2021

27

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income -119 -123 -3 -39 -38 -42 -34 -44 -38 -41 -40 -44

Payment processing -21 1 3 -25 -28 16 -5 -11 16 12

Card commissions 3 3 1 2 -3 5 -3 1 3 -1

Service concepts -1 -1 1 -1 2 -2

Asset management and custody -9 3 -2 -6 -1 2 3 4 -4 31

Securities & Corporate finance -31 -17 82 -16 -12 -3 -6 -6 -7 -4 -7 -9

Lending 41 57 -28 10 14 17 20 19 15 23 28 23

Insurance -2 3 5 -9 2 2 -2 -2 7 -1

Other commissions -105 -106 -1 -21 -35 -49 -24 -38 -37 -31 -66 -12

Net commission income -125 -57 -23 -42 -60 -37 -3 -33 -21 5 13

Net gains and losses on financial items 3 42 -93 3 17 -17 26 15 28 -1 3 9

Net insurance 13 11 18 5 4 4 4 3 5 3 2 5

Share of profit or loss of associates and joint ventures -19 -20 -5 -5 -8 -6 -10 -5 -10 -5 -8 2

Other income 860 716 20 329 282 249 323 251 257 208 193 195

Total income 613 569 8 270 215 128 272 217 209 143 155 180

Staff costs 3 741 3 468 8 1 273 1 257 1 211 1 217 1 191 1 168 1 109 1 082 1 055



IT expenses 1 779 1 132 57 606 590 583 204 354 388 390 439 410

Consultants 387 1 013 -62 129 126 132 126 160 171 682 678 362

Other expenses -5 445 -4 130 32 -1 784 -1 898 -1 763 -1 231 -1 490 -1 375 -1 265 -1 266 -1 005

of which internally sold and bought services -6 194 -4 810 29 -2 042 -2 125 -2 027 -1 675 -1 656 -1 587 -1 567 -1 599 -1 615



Total expenses 1 286 6 266 -79 517 345 424 658 491 597 5 178 1 153 1 074

Profit before impairments -673 -5 697 -88 -247 -130 -296 -386 -274 -388 -5 035 -998 -894

Impairment of intangible assets 43 43 1

Impairment of tangible assets -1

Credit impairments 1 1 1 -1 -1 -1 1

Profit before tax -717 -5 697 -87 -248 -174 -295 -385 -273 -388 -5 036 -998 -894

Tax expense -128 -245 -48 -36 -54 -38 -13 -43 -80 -122 -168 -154

Profit for the period from continuing operations -589 -5 452 -89 -212 -120 -257 -372 -230 -308 -4 914 -830 -740

Profit for the period including non-controlling interest -589 -5 452 -89 -212 -120 -257 -372 -230 -308 -4 914 -830 -740


Shareholders of Swedbank AB -589 -5 452 -89 -212 -120 -257 -372 -230 -308 -4 914 -830 -740

Key figures


Return on allocated equity, % -27.8 -261.8 -30.8 -17.3 -35.3 -52.3 -31.4 -44.2 -732.6 -124.9 -109.0


Volumes, SEKbn


Risk exposure amount 14 14 14 15 15 17 14 13 12 10 13

Commitments 1


Other Group FunctionsQ3, 2021

28

Business segments


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income -12 -19 -37 -4 -4 -4 -9 -5 -8 -6 -2

Payment processing -9 -10 -10 -3 -3 -3 35 -4 -3 -3 -4 -3

Card commissions 10 68 -85 4 -7 13 23 20 24 24 25 26

Service concepts 3 3 1 1 1 2 1 2 1 1

Asset management and custody -4 -3 33 -1 -2 -1 -1 -1 -2

Securities & Corporate finance 4 -3 1 1 2 8 -1 -3 1 1 2

Lending -5 -5 -1 -2 -2 -3 -1 -3 -1 -1 1

Insurance 4 4 1 2 1 1 1 2 1 2 1

Other commissions -2 4

Net commission income 3 54 -94 2 -10 11 65 15 17 22 22 32

Net gains and losses on financial items 1 1 -1

Net insurance -4 -70 -94 -2 10 -12 -15 -23 -23 -24 -22 -23

Other income -220 -104 -123 -49 -48 -84 -30 -26 -48 -71 -40

Total income -232 -139 67 -126 -53 -53 -44 -43 -40 -56 -73 -31

Staff costs -11 -10 10 -4 -4 -3 -4 -3 -4 -3 -1


IT expenses -669 -222 -228 -219 148 12 12 -24 -54 -81

Consultants -17

Other expenses 461 -119 106 183 172 -184 -49 -42 -28 6 55

of which internally sold and bought services 605 -37 203 206 196 -163 -20 -19 2 29 77

Total expenses -232 -139 67 -126 -53 -53 -44 -43 -40 -56 -73 -31

Key figures

Volumes, SEKbn

Mutual funds & insurance -9 -9 -10 -9 -7 -5 -3 -2 -1 -1

Index linked bonds -3 -4 -3 -3 -3 -4 -4 -5 -5 -5 -7

EliminationsQ3, 2021

29

Product companies

Swedbank Robur


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income -9 -9 -3 -3 -3 -3 -3 -3 -3 -3 -4


Net gains & losses on financial intems 16 -4 1 6 9 1 6 13 -23 4 1

Other income 3

Total income 2 553 1 935 32 901 826 826 808 701 617 617 697 626

Staff costs 292 264 11 97 97 98 91 92 87 85 84 81

Variable staff costs 37 14 10 9 18 16 6 6 2 8 9


IT expenses 68 88 -23 25 22 21 30 26 30 32 30 27

Consultants 0 1 1

Other expenses 102 94 9 34 33 35 47 28 32 34 51 40


Total expenses 543 502 8 180 177 186 199 166 169 167 187 171

Profit before impairments 2 010 1 433 40 721 649 640 609 535 448 450 510 455

Profit before tax 2 010 1 433 40 721 649 640 609 535 448 450 510 455

Tax expense 412 300 37 147 133 132 128 109 93 98 110 97

Profit for the period from continuing operations 1 598 1 133 41 574 516 508 481 426 355 352 400 358

Profit for the period including non-controlling interest 1 598 1 133 41 574 516 508 481 426 355 352 400 358

Profit for the period 1 598 1 133 41 574 516 508 481 426 355 352 400 358


Cost/Income ratio 0.21 0.26 -18 0.20 0.21 0.23 0.25 0.24 0.27 0.27 0.27 0.27


Q3, 2021

30

Product companies

Swedbank Robur


SEKbn 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Volumes

Mutual funds, period end 1 398 1 153 21 1 398 1 386 1 324 1 220 1 153 1 064 951 1 083 1 027

of which eliminations Swedbank Baltic funds -9 -5 -9 -10 -9 -7 -5 -3 -2 -1 -1

Average balance mutual funds 1 360 1 071 27 1 433 1 359 1 287 1 187 1 119 1 033 1 060 1 075 1 024

Discretionary asset management, period end 485 454 7 485 472 465 458 454 435 422 446 454

Fund assets under management by country

Sweden 1 340 1 096 22 1 340 1 325 1 265 1 163 1 096 1 008 897 1 026 970

Estonia 20 24 -17 20 25 25 24 24 23 22 23 22

Latvia 27 23 17 27 26 25 23 23 22 21 21 21

Lithuania 21 16 29 21 20 18 17 16 15 14 15 14

Fund assets under management, per product type, %

Equity 67 64 5 67 67 66 65 64 62 60 62 61

Asia 1 2 -2 1 2 2 2 2 2 2 2 2

Emerging Markets 2 2 28 2 2 2 2 2 2 2 2 2

Europe 5 4 8 5 5 4 4 4 4 4 4 4

Global 15 13 16 15 14 13 13 13 12 13 13 13

Northern America 2 2 18 2 2 2 2 2 2 2 2 2

Sector 11 11 4 11 11 11 11 11 10 8 8 8

Sweden 14 14 3 14 14 14 14 14 13 12 14 13

Sweden Global 17 17 -2 17 17 17 17 17 17 17 18 18

Total fixed income 10 13 -19 10 10 11 12 13 14 15 12 13

Long term fixed income 6 7 -16 6 6 6 7 7 7 8 7 8

Short term fixed income 4 6 -23 4 4 5 5 6 6 7 5 5

Multi asset 23 23 -4 23 23 23 23 23 24 25 26 26

Market share Sweden, %

Asset under Management 21 21 -1 21 21 21 21 21 21 21 20 20

Net sales 4 pos neg 4 14 14 20 2 neg 5 3

Net sales, SEKbn

Mutual funds 1.0 8.1 -88.0 -7.7 2.9 5.7 13.3 8.6 3.9 -4.4 5.0 1.4

Sweden 6.3 7.4 -13.9 -3.2 2.3 7.3 14.0 8.5 3.9 -5.0 3.9 0.2

of which Equity 0.8 -5.4 -8.2 -0.2 9.1 9.3 7.9 1.5 -14.7 1.8 -3.9

of which Fixed income -2.3 15.4 2.7 -1.3 -3.8 1.5 -0.5 0.7 15.3 -3.4 3.0

of which Multi asset 7.9 -2.7 2.2 3.7 2.0 3.2 1.2 1.7 -5.6 5.6 1.1

Other countries -4.0 3.8 -5.2 0.9 0.3 1.2 1.1 1.4 1.4 1.5 1.2

Elimination LAMCs -1.4 -3.1 -56 0.7 -0.2 -1.9 -1.8 -1.0 -1.3 -0.8 -0.4 0.0

Discretionary asset management -7.5 -4.1 81 4.2 -0.7 -11.0 -2.7 -1.5 -0.7 -1.9 -6.1 1.0

ESG-data, Assets under management Swedish Funds

Investments with sustainable strategies, % 1) 100 100 100

Investments with Science Based Targets, equity holdings, % 2) 27 27 23

Investments SFDR classified as light or dark green, % 100 100 100

Investments in fossil fuels extractors, % 3)

Investments in sustainable bonds, SEKbn 38 38 35

1) Applies Swedbank Robur Policy on Sustainable Investment and its strategies for exclusion, inclusion & engagement.

2) Share of AUM in equity holdings with targets set in accordance with Science Based Targets initiative.

3) Cut off on >5 percent of revenue from fossil fuel extraction.

Q3, 2021

31

Product companies


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement

Net interest income -5 -7 -36 -1 -1 -2 -2 -3 -2 -2 -3 -3


Net gains & losses on financial intems -4 4 -1 1 -4 -0 2 -5 6 -8 3

Net insurance 618 560 10 222 200 196 205 243 170 148 199 189

Other income 0 0 0 -0 0

Total income, net 1 432 1 236 16 503 480 449 428 480 382 374 405 406

Staff costs 151 133 14 51 50 50 51 45 45 43 42 38

Variable staff costs 4 3 33 1 2 1 1 1 2 1 1

Expenses for premises 10 11 -9 3 4 3 3 4 3 4 4 6

IT expenses 83 66 26 25 29 29 25 20 23 23 30 23

Consultants 5 9 -44 1 2 2 5 2 4 3 3 1

Other expenses 26 34 -24 9 7 10 9 10 12 12 12 11

Depreciation/amortisation 2 2 1 1 1 1 1

Total expenses 281 258 9 91 94 96 94 83 87 88 93 80

Profit before impairments 1 151 978 18 412 386 353 334 397 295 286 312 326

Profit before tax 1 151 978 18 412 386 353 334 397 295 286 312 326

Tax expense 101 96 5 35 34 32 14 45 28 23 15 32

Profit for the period from continuing operations 1 050 882 19 377 352 321 320 352 267 263 297 294

Profit for the period including non-controlling interest 1 050 882 19 377 352 321 320 352 267 263 297 294

Profit for the period 1 050 882 19 377 352 321 320 352 267 263 297 294


Cost/Income ratio 0.20 0.21 -6 0.18 0.20 0.21 0.22 0.17 0.23 0.24 0.23 0.20

Assets under management, SEKbn 295 235 26 295 289 274 247 235 218 194 220 209

of which Traditional life 19 18 5 19 19 19 19 18 18 17 19 18

Assets under management by product, SEKbn 295 235 26 295 289 274 247 235 218 194 220 209

of which collective occupational pension 152 119 27 152 148 140 125 119 110 98 109 103

of which endowment insurance 95 75 27 95 93 88 80 75 69 61 72 68

of which occupational pension 36 30 20 36 36 35 32 30 29 26 29 28

of which other 11 10 10 11 11 11 10 10 10 9 10 10

Premiums, SEKm 24 904 16 246 53 7 251 7 477 10 176 5 106 3 838 4 598 7 810 4 722 4 236

of which collective occupational pension 7 625 6 042 26 1 830 2 256 3 539 921 1 009 1 563 3 469 1 137 1 220

of which endowment insurance 13 703 7 127 92 4 173 4 013 5 516 2 999 1 803 1 995 3 329 2 494 2 003

of which occupational pension 2 324 1 938 20 823 801 699 779 649 655 634 711 653

of which risk insurance 972 900 8 324 319 329 307 300 307 293 281 275

of which other 280 240 17 100 89 92 100 77 78 84 100 84

Market share, % 1)

New written premium 6 6 n.a. 6 6 5 6 6 5 5 5

Premium paid 7 6 n.a. 7 7 6 6 6 6 6 6

Transfer in 9 8 n.a. 9 8 8 8 9 10 10 10

NCCF - Net Client Cash Flow 12 086 5 268 2 961 2 911 6 213 755 850 1 363 3 055 543 1 007

Solvency ratio 2) n.a. 1.7 n.a. 1.4 1.4 1.4 1.7 1.6 1.7 1.3 1.5

Combined ratio, % 60 61 -2 60 62 62 61 61 70 73 58 59


1) Rolling 12 months. Market shares for Q3 2021 are not yet availabe.

Swedbank InsuranceQ3, 2021

2) From 1/1 2016 the Solvency II regulations are implemented. The solvency ratio is, from Q1 2016 and onwards, calculated from a Solvency II perspective. Solvency ratio is not yet available for Q3

2021.

32

Product companies

Swedbank Insurance AB, European Embedded Value (EEV) 2020 1)

EEV results 31 Dec 31 Dec ∆ %

SEKm 2020 2019 Y/Y

Free surplus 2)

600 427 41

Required capital 3)

2 586 1 932 34

Net asset value 4) 3 186 2 359 35

Certainty equivalent value 5)

15 993 14 636 9

Time value of financial options and guarantees 6)

-101 -102 -1

Cost of non-hedgeable risks 7)

-3 590 -3 233 11

Frictional costs of required capital 8)

-118 -105 12

Value of in-force business (VIF) 9) 12 184 11 196 9

EEV 15 370 13 555 13

2) Free surplus for covered business is calculated as the net asset value less the required capital.

Analysis of EEV earnings 2020 Q4

SEKm Free surplus

Required

capital VIF EEV

Opening EEV 427 1 932 11 196 13 555

Opening adjustments

Adjusted opening EEV 427 1 932 11 196 13 555

Value of new business 1)

-153 123 937 908

Expected existing business contribution (reference rate) 2)

0 4 299 303

Expected existing business contribution (in excess of reference rate) 3)

217 217

Transfers from VIF and required capital to free surplus 4)

1 152 41 -1 193

Experience variances 5)

-37 158 68 189

Assumption changes 6)

-11 11 -332 -332

Other operating variance -6 6 174 174

Operating EEV earnings 946 342 172 1 460

Economic variances 7)

-212 183 778 749

Other non-operating variances -128 128 38 38

Total EEV earnings 606 654 988 2 248

Closing adjustments -433 -433

Closing EEV 600 2 586 12 184 15 370

7) Cost of non-hedgeable risks allows for non-hedgeable risks not already reflected in the time value of options and guarantees or certainty equivalent value.

8) Frictional cost of holding required capital reflects the taxation on expected return and the frictional investment management costs in relation to the required capital.

9) Value of in-force is defined as the present value of future profits less the time value of options and guarantees less the frictional cost of holding required capital less the cost of non-hedgeable

risks.

Q3, 2021

7) Economic variances include the deviations between actual and expected investment return and the effect of changing the economic assumptions from start of the year to the end of the year.

1) European Embedded Value (EEV) is a measure of the consolidated value of shareholders’ interests in the covered business. Covered business is the business written within and legally

contained in SFAB. The business where Swedbank acts as a distributor of third party insurance business are excluded from covered business. EEV comprises the free surplus, required capital and

value of in-force of covered business.

4) Net Asset Value is defined as the market value of assets allocated to the covered business in excess of statutory policy reserves and other liabilities at the valuation date. It is made up of the

required capital and free surplus. The net asset value is adjusted by -240 SEKm and -204 SEKm in 2020 and 2019 respectively for non-covered business. It should be noted that the net asset value

included in the EEV is reported before planned dividend expected to be paid in 2021 to the mother company.

5) Certainty equivalent value is the certainty equivalent present value of future profits under a single scenario, reflecting future cash flows arising from the existing covered business. Risk- free rates

are used for the investment yield assumptions and the discount rates.

1) Value of new business represents the value added from new business sold in the year. VNB is calculated at the date of issue with opening economic assumptions and closing non-economic

assumptions. New business is defined as the sale of new contracts and increases to existing contracts during the reporting period.

3) Required capital is the portion of assets held in excess of statutory liabilities whose distribution to shareholders is restricted in order to meet insurance obligations. With the introduction of

Solvency II, Swedbank Insurance AB has aligned the required capital to the overall solvency need as determined in the ORSA in agreement with the amended guidance issued by the CFO Forum

in May 2016.

6) Time value of options and guarantees is derived as the difference between the average present value of future profits based on the future cash flows under 3,000 risk-neutral scenarios and the

certainty equivalent value.

Further details of the EEV, the various assumptions underlying EEV and any incompliance to CFO Forum EEV principles can be found in the embedded value report "2020 European Embedded

Value", https://www.swedbank.com/svenska/investor-relations/finansiell-information-och-publikationer/swedbanks-dotterbolag/swedbank-forsakring/index.htm

2) Expected existing business contribution (reference rate) reflects the unwinding of the discounting on the value of in-force with the opening reference rate. Additionally, the risk-free return on the

components of the net asset value is also included.

3) Expected existing business contribution (in excess of reference rate) reflects the additional return on the opening EEV expected by the management during the reporting period based on real

world investment returns. The excess return also includes the release of the allowance for time value of financial options and guarantees and cost of non-hedgeable risks for 2020.

4) Transfers from value of in-force and required capital to free surplus reflect expected profits that were included in the VIF at the previous year-end and expected to be transferred into the free

surplus over the reporting period. The total impact on the EEV earnings is zero.

5) Experience variances result from deviations between actual and expected profits regarding operational and demographic assumptions such as mortality, lapses and expenses.

6) Assumption changes reflect non-economic assumption changes from year-end 2019 to year-end 2020.

33

Product companies

Baltic Life insurance


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement


Net commission income 29 29 -1 10 10 9 10 10 9 9 11 9

Net gains & losses on financial intems 3 -14 1 -1 2 7 5 5 -23 -0 2

Net insurance 182 213 -15 51 60 71 60 62 84 68 80 70

Other income 0 1 -58 0 0 0 1 0 1 1

Total income, net 223 242 -8 65 72 86 82 81 102 59 95 86

Staff costs 21 21 1 7 7 7 8 7 7 7 7 6


IT expenses 2 2 -7 1 1 1 0 0 0 1 1 1

Consultants 0 0 -39 0 0 0 0 0 0 0

Other expenses 20 21 -6 6 7 7 14 8 6 7 12 6

Depreciation/amortisation 0

Total expenses 44 45 -2 14 15 14 22 16 14 15 20 14


Credit impairments 0 0 0 0 0


Tax expense 17 17 5 5 7 8 6 8 3 7 6



Profit for the period 162 180 -10 46 52 64 52 59 79 42 68 67


Cost/Income ratio 0.20 0.18 6 0.22 0.21 0.17 0.27 0.20 0.14 0.25 0.21 0.16

Assets under management, SEKm 7 930 6 724 18 7 930 7 719 7 499 6 940 6 724 6 452 6 188 6 572 6 442

of which Traditional life 713 834 -14 713 733 762 770 834 844 908 865 920

Assets under management by product, SEKm 7 930 6 724 18 7 930 7 719 7 499 6 940 6 724 6 452 6 188 6 572 6 442

of which endowment insurance 1 739 1 510 15 1 739 1 705 1 649 1 561 1 510 1 467 1 408 1 584 1 526

of which private pension 3 653 2 979 23 3 653 3 534 3 417 3 113 2 979 2 820 2 672 2 801 2 719

of which other 2 538 2 235 14 2 538 2 480 2 433 2 266 2 235 2 166 2 108 2 187 2 196

Premiums, SEKm 1 067 1 046 2 363 359 346 380 337 356 354 417 335

of which endowment insurance 163 122 33 56 56 52 75 34 45 43 99 37

of which private pension 364 357 2 122 121 120 132 116 119 122 130 114

of which risk insurance 254 297 -14 87 86 81 80 98 102 97 95 95

of which other 286 270 6 97 96 93 93 89 90 91 92 89

NCCF - Net Client Cash Flow 306 185 66 100 108 100 142 75 112 -3 145 80



Q3, 2021

1) From 1/1 2016 the Solvency II regulations are implemented. The solvency ratio is, from Q1 2016 and onwards, calculated from a Solvency II perspective. Solvency ratio is not

yet available for Q3 2021.

34

Product companies

Baltic P&C insurance


SEKm 2021 2020 Y/Y 2021 2021 2021 2020 2020 2020 2020 2019 2019

Income statement


Net commission income -59 -57 4 -20 -20 -18 -21 -21 -16 -19 -19 -19

Net gains & losses on financial intems -5 -5 -11 -1 -1 -3 0 -0 3 -9 -3 -2

Net insurance 323 396 -18 84 123 116 154 139 156 101 141 139

Other income 0 1 -13 0 0 0 0 0 0 0 0 0

Total income, net 263 341 -23 64 103 96 135 120 145 76 122 120

Staff costs 37 37 0 12 13 12 13 12 13 12 12 12

Variable staff costs 1 1 -9 0 0 0 1 0 0 0 0 1

IT expenses 4 4 -11 1 1 1 2 2 1 1 1 1

Consultants 0 0 -69 0 0 0 0

Other expenses 25 30 -17 8 8 9 13 11 9 10 11 10

Total expenses 67 73 -8 22 22 23 29 26 24 23 24 24



Tax expense 33 43 24 7 14 12 17 15 20 8 14 14



Profit for the period 163 225 -27 35 67 61 90 78 102 44 83 82


Cost/Income ratio 0.26 0.21 20 0.35 0.21 0.24 0.21 0.22 0.16 0.31 0.20 0.20

Premiums, SEKm 938 1 035 -9 319 309 310 325 335 342 359 361 356

of which Loan payment protection 64 61 6 22 21 21 21 20 20 20 19 19

of which motor own Damage (MOD) 279 309 -10 95 90 94 103 102 100 108 113 107

of which motor TPL (MTPL) 134 169 -21 44 45 45 47 50 57 61 62 65

of which home 390 382 2 132 130 128 128 126 128 127 125 122

of which apartment, buildings 4 4 4 2 2 1 1 1 1 1 1 1

of which travel 38 75 -49 15 12 11 15 23 23 28 28 29

of which payment protection 27 33 -20 9 9 9 10 11 11 12 12 13

of which purchase protection 2 2 -9 1 1 1 1 1 1 1 1 1

of which senior card insurance 0 0 -38 0 0 0 0 0 0 0 0 0

Combined ratio, % 1) 76 71 -0 89 71 73 69 69 62 81 68 69



Q3, 2021

2) From 1/1 2016 the Solvency II regulations are implemented. The solvency ratio is, from Q1 2016 and onwards, calculated from a Solvency II perspective. Solvency ratio is not yet

available for Q3 2021.

1) Combined ratio = Claims ratio + Expense ratio / Premium Income.

35

Business volumes

LoansQ3, 2021

Loans carrying amount, by sector/ industry, Group 30 Sep ∆ SEKbn ∆ SEKbn ∆ % 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

SEKbn (excl. intra-Group transactions) 2021 YTD Q/Q Y/Y 2021 2021 2020 2020 2020 2020 2019 2019

Loans to the public at amortised cost

Private customers 1 116 36 14 3 1 102 1 086 1 080 1 079 1 069 1 063 1 053 1 052

Private mortgage 975 36 15 5 960 947 939 933 923 916 905 901

Tenant owner associations 91 -2 -6 91 91 93 96 97 98 100 103

Private other 50 2 -1 3 51 48 48 50 49 49 48 48

Corporate customers 537 1 2 -1 535 535 536 543 556 569 553 561

Agriculture, forestry, fishing 64 -1 -3 64 64 65 66 66 66 65 66

Manufacturing 35 -4 -13 35 39 39 41 43 45 42 43

Public sector and utilities 27 1 1 8 26 28 26 25 23 25 23 22

Construction 22 3 10 22 22 19 20 20 20 19 20

Retail and wholesale 31 2 1 4 30 28 29 30 30 35 32 32

Transportation 13 -10 13 14 13 14 16 16 15 15

Shipping and offshore 11 -2 -1 -22 12 12 13 14 17 19 18 20

Hotels and restaurants 8 -1 -23 8 9 9 10 10 10 10 9

Information and communication 15 2 1 25 14 13 13 12 13 13 13 14

Finance and insurance 21 15 21 20 21 18 19 20 17 15

Property management 249 2 -2 -0 251 247 247 249 255 253 254 257

Residential properties 78 4 1 8 77 76 74 73 77 77 79 78

Commercial 107 7 -4 5 111 106 100 101 102 101 99 103

Industrial and Warehouse 40 -5 -1 -13 41 42 45 46 46 44 47 47

Other 24 -4 2 -18 22 23 28 29 30 31 29 29

Professional services 22 1 1 -8 21 22 21 24 24 26 25 27

Other corporate lending 19 -2 1 -7 18 17 21 20 20 21 20 21

Loans to the public at fair value through profit or loss

Loans to the public1)

1 653 37 16 2 1 637 1 621 1 616 1 622 1 625 1 632 1 606 1 613

of which cash collaterals posted 2 -8 -67 2 3 10 6 8 6 6 5

of which customer lending 1 651 45 16 2 1 635 1 618 1 606 1 616 1 617 1 626 1 600 1 608

Swedish National Debt Office -25 25 2

Repurchase agreements2)

48 8 17 -22 31 46 40 62 90 62 46 53

Loans to the public 1 701 20 33 1 1 668 1 667 1 681 1 684 1 715 1 694 1 652 1 668

Banks and other credit institutions 38 -8 -10 38 37 46 42 51 49 45 33


4 2 3 -60 1 9 2 9 10 7 7

Loans to credit institutions 42 -6 3 -18 39 46 48 51 61 56 45 40

Loans to the public and credit institutions 1 743 14 36 0 1 707 1 713 1 729 1 735 1 776 1 750 1 697 1 708

Specification of loans to the public

By business area 30 Sep ∆ SEKbn ∆ SEKbn ∆ % 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep


Private 1 002 30 12 4 990 976 972 968 961 951 948 947


Private other incl. tenant owner associations 122 -1 -1 -4 123 122 123 127 128 128 130 133

Corporate 241 2 3 -1 238 239 239 243 243 249 248 253

Total Swedish Banking 1 243 32 15 3 1 228 1 215 1 211 1 211 1 204 1 200 1 196 1 200

Private 112 6 2 3 110 109 106 110 107 111 104 104


Private other incl. tenant owner associations 17 1 0 17 16 16 18 17 18 17 17

Corporate 80 4 3 -1 77 79 76 80 81 87 82 84

Total Baltic Banking 192 10 5 1 187 188 182 190 188 198 186 188

Private 2 21 2 1 2 1 1 1 1 1

Private mortgage

Private other incl. tenant owner associations 2 21 2 1 2 1 1 1 1 1

Corporate 216 -5 -4 -2 220 217 221 220 232 233 222 224

Total Large Corporates & Institutions 218 -5 -4 -1 222 218 223 221 233 234 223 225

Total Group Functions & Other 1


1 653 37 16 2 1 637 1 621 1 616 1 622 1 625 1 632 1 606 1 613

Specification of loans to the public

By business area/ country 30 Sep ∆ SEKbn ∆ SEKbn ∆ % 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep


Swedish Banking 1 243 32 15 3 1 228 1 215 1 211 1 211 1 204 1 200 1 196 1 200

Baltic Banking 192 10 5 1 187 188 182 190 188 198 186 188

Estonia 90 5 2 1 88 88 85 89 87 92 86 87

Latvia 37 1 1 -2 36 38 36 38 38 40 37 38

Lithuania 65 4 2 3 63 62 61 63 63 66 63 63

Large Corporates & Institutions 218 -5 -4 -1 222 218 223 221 233 234 223 225

Sweden 160 -4 -3 -1 163 157 164 163 170 167 159 159

Norway 38 -1 -2 38 41 39 39 41 42 45 48

Group Functions & Other 1


1 653 37 16 2 1 637 1 621 1 616 1 622 1 625 1 632 1 606 1 613

1) Excluding the Swedish National Debt Office and repurchase agreements.

2) At fair value through profit or loss

36

Business volumes

Deposits from the public and amounts owed to credit institutionsQ3, 2021

Deposits from the public 30 Sep ∆ SEKbn ∆ SEKbn ∆ % 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep


Swedish Banking 2)

690 44 8 10 682 650 646 627 613 585 571 567

Private 454 30 9 8 445 430 424 419 416 403 388 387

On demand deposits 124 13 3 13 121 114 111 109 108 100 98 98

Savings account 330 17 6 7 324 316 313 310 308 303 290 289

Corporate 236 14 -1 14 237 220 222 208 197 182 183 180

On demand deposits 198 12 -1 15 199 186 186 173 162 148 149 146

Savings account 38 2 8 38 34 36 35 35 34 34 34

Baltic Banking 301 17 6 11 295 300 284 272 259 257 242 232

Private 186 22 7 17 179 174 164 158 152 153 143 140


Savings account 27 1 4 27 27 26 26 26 27 26 26

Corporate 115 -5 -1 1 116 126 120 114 107 104 99 92

On demand deposits 114 -4 2 114 124 118 112 105 102 97 89

Savings account 1 -1 -1 -29 2 2 2 2 2 2 2 3

Large Corporates & Institutions 231 31 5 31 226 224 200 176 177 167 141 134

Corporate 231 31 5 23 226 224 200 176 177 167 141 134


Savings account 6 -1 -2 -17 8 7 7 8 8 6 6 9

Group Functions & Other 78 77 -1 15 79 42 1 57 59 37 0 24

of which Group Treasury 78 77 -1 15 79 42 1 57 59 37 0 24

Deposits from the public 1)

1 300 169 18 16 1 282 1 216 1 131 1 132 1 108 1 046 954 957

of which private 640 52 16 11 624 604 588 577 568 556 531 527

of which corporate 660 117 2 19 658 612 543 555 540 490 423 430

of which US based money-market funds 73 #DIV/0! 77 42 0 54 55 33 0 21

Swedish National Debt Office 0 110.5577 0 0 0 0 0 0 0 0

Repurchase agreements & deposits, Swedish National Debt Office 0 -100 0 0 0 0 0 0 0 0

Repurchase agreements from the public 18 1 -8 -27.1584 26 23 17 24 14 20 0 17

Total deposits and borrowings from the public 1 318 170 10 14 1 308 1 239 1 148 1 156 1 122 1 066 954 974

Deposits from the public, currency distribution 30 Sep

SEKbn (excl. intra-Group transactions) 2021 SEK EUR USD Other

Private 640 446 187 5 2

Corporate 660 387 156 105 12

of which insurance 26 22 2 2 0

of which sovereigns, municipalities etc. 77 44 30 3 0

of which US based money-market funds 73 73

of which other 484 321 124 27 12

Deposits from the public 1 300 833 343 110 14

Amounts owed to credit institutions, Group 30 Sep ∆ SEKbn ∆ SEKbn ∆ % 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

SEKbn 2021 YTD Q/Q Y/Y 2021 2021 2020 2020 2020 2020 2019 2019

Central banks 54 -26 3 -37 51 55 80 85 90 74 6 16

Banks 89 29 9 41 80 72 60 63 82 83 58 76

Other credit institutions 8 1 3 48 5 6 7 5 5 12 6 5

Repurchase agreements 5 2 -5 48 10 30 3 13 10 6 0 6

Amounts owed to credit institutions 156 6 10 -6 146 163 150 166 187 175 70 103

1) Excluding Swedish National Debt Office and repurchase agreements.

37

Business volumes

Interest-bearing securities and Deferred tax assetsQ3, 2021

30 September 2021

Country

SEKm

Banks & other

financial

institutions

of which

covered bonds

Government &

municipalities

Other

non-financial

companies Total

Belgium 519 519

Bermuda 12 12

Cayman Islands 35 35

Denmark 2 192 1 595 153 2 345

Estonia 2 488 2 488

Finland 3 313 390 3 869 7 182

France 1 009 1 009

Germany 15 12 27

Iceland 193 193

Ivory Coast 1 765 1 765

Latvia 1 097 41 1 138

Lithuania 94 3 619 3 713

Luxembourg 532 24 556

Netherlands 21 303 324

Norway 7 403 6 799 2 340 2 030 11 773

Sweden 37 866 25 940 129 543 3 622 171 031

United States 2 424 25 2 449

Total 56 839 34 724 139 606 10 114 206 559

Deferred tax assets

Deferred tax assets 30 Sep ∆ SEKbn 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

SEKm 2021 Q/Q 2021 2021 2020 2020 2020 2020 2019 2019

Tax loss carry-forwards 124 -2 126 117 82 158 153 133 112 133

Other items 35 1 34 63 46 47 54 52 62 47

Non-recognised deferred tax assets -4 -4 -4 -4 -5 -5 -5 -4 -8

Deferred tax assets 155 -1 156 176 124 200 202 180 170 172

Interest-bearing securities

38

Asset quality

Asset quality Q3, 2021

Total loans

Loans carrying amount, by business area/ country

30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other Group


Private customers 1 002 359 112 232 46 078 20 713 45 441 1 709 1 709 1 116 300

Private mortgage 879 858 95 149 38 720 17 144 39 285 3 3 975 010

Tenant owner associations 90 073 581 581 90 654

Private other 32 428 17 083 7 358 3 569 6 156 1 125 1 125 50 636

Corporate customers 240 453 79 560 42 946 16 685 19 929 216 537 158 659 37 965 271 536 821

Agriculture, forestry, fishing 58 280 5 550 2 888 2 162 500 266 266 64 096

Manufacturing 8 963 10 967 4 584 2 621 3 762 15 443 10 558 2 516 35 373

Public sector and utilities 5 291 9 797 6 053 1 791 1 953 11 637 3 184 5 210 26 725

Construction 13 423 1 786 1 219 216 351 7 122 6 420 2 22 331

Retail and wholesale 8 977 9 024 3 218 1 698 4 108 12 912 10 817 426 30 913

Transportation 4 571 6 370 3 550 1 247 1 573 2 124 1 533 591 13 065

Shipping and offshore 53 835 835 10 569 4 299 6 270 11 457

Hotels and restaurants 3 377 3 451 1 580 1 090 781 681 681 7 509

Information and communication 1 405 1 174 299 421 454 12 215 7 357 3 765 14 794

Finance and insurance 5 080 547 527 6 14 14 588 12 096 2 450 271 20 486

Property management, including 114 272 22 313 12 096 4 294 5 923 112 767 89 238 14 772 249 352


Commercial 31 397 16 520 7 917 3 433 5 170 59 053 43 672 12 185 106 970

Industrial and Warehouse 18 521 3 003 1 855 733 415 18 789 16 824 873 40 313

Other 12 077 2 663 2 256 75 332 9 021 6 746 1 714 23 761

Professional services 9 395 3 975 2 673 811 491 8 505 7 440 297 21 875

Other corporate lending 7 366 3 771 3 424 328 19 7 708 4 770 1 666 18 845

Loans to the public at fair value through profit or loss 165 8 173

Loans to the public excluding the Swedish National Debt

Office and repurchase agreements1 242 977 191 792 89 024 37 398 65 370 218 246 160 368 37 965 279 1 653 294

Swedish National Debt Office 3 3 3


47 935 32 430 15 505 47 935


Banks and other credit institutions 676 36 31 3 2 18 841 16 966 22 18 365 37 918


3 524 3 524 3 524

Loans to credit institutions 676 36 31 3 2 22 365 20 490 22 18 365 41 442

Loans to the public and credit institutions2) 1 243 653 191 828 89 055 37 401 65 372 288 549 213 291 53 492 18 644 1 742 674

Credit impairment provisions, by business area/ country

30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Loans to the public at amortised costPrivate customers 557 306 53 127 126 19 19 882

Private mortgage 208 239 31 108 100 447

Tenant owner associations 6 6

Private other 343 67 22 19 26 19 19 429

Corporate customers 874 573 317 121 135 3 584 499 2 884 5 031

Agriculture, forestry, fishing 74 16 13 3 90

Manufacturing 41 151 87 10 54 160 101 23 352

Public sector and utilities 17 1 1 11 4 4 29

Construction 81 8 3 1 4 21 16 110

Retail and wholesale 139 57 19 25 13 140 109 2 336

Transportation 18 29 17 12 14 14 61

Shipping and offshore 43 43 2 876 77 2 799 2 919

Hotels and restaurants 206 148 70 41 37 96 96 450

Information and communication 4 23 19 3 27

Finance and insurance 6 8 5 3 14

Property management, including 188 90 49 16 25 203 52 24 481

Residential properties 81 1 1 16 13 98

Commercial 41 38 6 13 19 176 34 20 255

Industrial and Warehouse 16 3 1 2 6 3 2 25

Other 50 48 42 2 4 5 2 2 103

Professional services 44 10 7 1 2 8 6 2 62

Other corporate lending 56 20 8 12 24 24 100



Office and repurchase agreements1 431 879 370 248 261 3 603 518 2 884 5 913

Swedish National Debt Office


Loans to the public 1 431 879 370 248 261 3 603 518 2 884 5 913

Banks and other credit institutions 2 2 6 8


Loans to credit institutions 2 2 6 8

Loans to the public and credit institutions2) 1 431 879 370 248 261 3 605 520 2 884 6 5 921

Loans gross carrying amount, by business area/ country

30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Loans to the public at amortised costPrivate customers 1 002 916 112 538 46 131 20 840 45 567 1 728 1 728 1 117 182


Tenant owner associations 90 079 581 581 90 660Private other 32 771 17 150 7 380 3 588 6 182 1 144 1 144 51 065



Manufacturing 9 004 11 118 4 671 2 631 3 816 15 603 10 659 2 539 35 725


Construction 13 504 1 794 1 222 217 355 7 143 6 436 2 22 441


Transportation 4 589 6 399 3 567 1 259 1 573 2 138 1 547 591 13 126

Shipping and offshore 53 878 878 13 445 4 376 9 069 14 376

Hotels and restaurants 3 583 3 599 1 650 1 131 818 777 777 7 959





Commercial 31 438 16 558 7 923 3 446 5 189 59 229 43 706 12 205 107 225


Other 12 127 2 711 2 298 77 336 9 026 6 748 1 716 23 864


Other corporate lending 7 422 3 791 3 432 340 19 7 732 4 770 1 690 18 945

Loans to the public at fair value through profit or loss 165 8 173


Office and repurchase agreements1 244 408 192 671 89 394 37 646 65 631 221 849 160 886 40 849 279 1 659 207



47 935 32 430 15 505 47 935


Banks and other credit institutions 676 36 31 3 2 18 843 16 968 22 18 371 37 926


3 524 3 524 3 524

Loans to credit institutions 676 36 31 3 2 22 367 20 492 22 18 371 41 450

Loans to the public and credit institutions2) 1 245 084 192 707 89 425 37 649 65 633 292 154 213 811 56 376 18 650 1 748 595

1) At fair value through profit or loss


39

Asset quality


Loans at amortised cost, Stage 1


30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other Group

Private customers 976 415 95 720 40 737 16 705 38 278 1 701 1 701 1 073 836


Tenant owner associations 88 906 581 581 89 487

Private other 30 043 13 848 5 868 2 932 5 048 1 117 1 117 45 008



Manufacturing 7 408 9 971 3 918 2 527 3 526 13 926 10 018 1 541 31 305


Construction 10 901 1 568 1 053 205 310 5 634 5 125 2 18 103


Transportation 3 692 5 808 3 425 902 1 481 1 520 929 591 11 020


Hotels and restaurants 2 002 1 373 700 53 620 214 214 3 589





Commercial 26 576 15 849 7 804 3 057 4 988 56 556 41 935 11 716 98 981


Other 9 695 2 204 1 865 48 291 8 893 6 618 1 714 20 792


Other corporate lending 6 109 3 610 3 326 267 17 6 033 4 761 15 752

Loans to the public1) 1 183 167 166 928 79 398 30 828 56 702 201 783 151 643 31 976 271 1 552 149




30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Private customers 56 48 11 22 15 10 10 114


Tenant owner associations 3 3Private other 42 11 3 3 5 10 10 63

Corporate customers 139 83 45 17 21 368 158 161 590


Manufacturing 7 23 10 2 11 85 32 17 115

Public sector and utilities 2 1 1 9 4 4 12

Construction 10 3 3 13

Retail and wholesale 28 7 5 2 37 33 2 72

Transportation 3 14 12 2 17

Shipping and offshore 142 32 110 142


Information and communication 1 13 9 3 14

Finance and insurance 1 7 4 3 8


Residential properties 16 8 5 24

Commercial 11 5 2 2 1 33 11 18 49

Industrial and Warehouse 5 1 1 6 3 2 12

Other 5 3 2 1 5 2 2 13

Professional services 5 2 1 1 4 4 11

Other corporate lending 6 8 5 3 14

Loans to the public1) 195 131 56 39 36 378 168 161 704


Loans to the public2) 195 131 56 39 36 378 168 161 704


30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Private customers 976 471 95 768 40 748 16 727 38 293 1 711 1 711 1 073 950


Tenant owner associations 88 909 581 581 89 490Private other 30 085 13 859 5 871 2 935 5 053 1 127 1 127 45 071



Manufacturing 7 415 9 994 3 928 2 529 3 537 14 011 10 050 1 558 31 420


Construction 10 911 1 568 1 053 205 310 5 637 5 128 2 18 116


Transportation 3 695 5 822 3 437 904 1 481 1 520 929 591 11 037







Commercial 26 587 15 854 7 806 3 059 4 989 56 589 41 946 11 734 99 030


Other 9 700 2 207 1 867 48 292 8 898 6 620 1 716 20 805

Professional services 7 505 3 348 2 155 755 438 8 035 7 189 79 18 888Other corporate lending 6 115 3 618 3 331 270 17 6 033 4 761 15 766






40

Asset quality




30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other Group

Private customers 25 152 15 940 5 249 3 859 6 832 2 2 41 094


Tenant owner associations 1 167 1 167

Private other 2 117 3 188 1 479 623 1 086 2 2 5 307

Corporate customers 33 229 7 796 4 035 2 300 1 461 15 026 8 717 4 560 56 051

Agriculture, forestry, fishing 6 234 435 194 162 79 39 39 6 708

Manufacturing 1 520 949 626 92 231 1 517 540 975 3 986

Public sector and utilities 573 198 137 50 11 1 035 22 1 806

Construction 2 448 205 161 8 36 1 488 1 295 4 141


Transportation 871 555 121 342 92 604 604 2 030

Shipping and offshore 16 835 835 1 533 301 1 232 2 384


Information and communication 243 18 8 1 9 202 199 463

Finance and insurance 483 5 1 1 3 177 177 665

Property management, including 14 634 1 126 499 416 211 4 506 3 746 469 20 266

Residential properties 5 712 25 4 21 1 229 1 229 6 966

Commercial 4 792 637 113 368 156 2 497 1 737 469 7 926

Industrial and Warehouse 1 749 35 21 14 652 652 2 436

Other 2 381 429 361 27 41 128 128 2 938

Professional services 1 834 622 515 57 50 474 255 218 2 930

Other corporate lending 1 202 160 97 61 2 1 675 9 1 666 3 037

Loans to the public1) 58 381 23 736 9 284 6 159 8 293 15 028 8 719 4 560 97 145




30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group



Tenant owner associations 3 3

Private other 86 32 12 7 13 1 1 119

Corporate customers 589 293 165 79 49 1 040 341 646 1 922


Manufacturing 23 57 45 7 5 75 69 6 155

Public sector and utilities 13 2 15

Construction 47 2 1 1 18 13 67

Retail and wholesale 95 27 1 16 10 103 76 225

Transportation 12 14 4 10 14 14 40

Shipping and offshore 43 43 657 45 612 700


Information and communication 2 10 10 12

Finance and insurance 2 1 1 3


Residential properties 56 1 1 8 8 65

Commercial 26 21 4 9 8 44 23 2 91

Industrial and Warehouse 6 2 1 1 8

Other 44 36 31 2 3 80

Professional services 20 6 6 4 2 2 30

Other corporate lending 26 12 3 9 24 24 62

Loans to the public1) 729 426 189 129 108 1 041 342 646 2 196


Loans to the public2) 729 426 189 129 108 1 041 342 646 2 196


30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Private customers 25 292 16 073 5 273 3 909 6 891 3 3 41 368


Tenant owner associations 1 170 1 170

Private other 2 203 3 220 1 491 630 1 099 3 3 5 426

Corporate customers 33 818 8 089 4 200 2 379 1 510 16 066 9 058 5 206 57 973

Agriculture, forestry, fishing 6 284 439 197 163 79 39 39 6 762

Manufacturing 1 543 1 006 671 99 236 1 592 609 981 4 141

Public sector and utilities 586 198 137 50 11 1 037 22 1 821

Construction 2 495 207 162 8 37 1 506 1 308 4 208


Transportation 883 569 125 352 92 618 618 2 070



Information and communication 245 18 8 1 9 212 209 475

Finance and insurance 485 5 1 1 3 178 178 668

Property management, including 14 766 1 186 535 428 223 4 558 3 777 471 20 510

Residential properties 5 768 26 4 22 1 237 1 237 7 031

Commercial 4 818 658 117 377 164 2 541 1 760 471 8 017

Industrial and Warehouse 1 755 37 22 15 652 652 2 444

Other 2 425 465 392 29 44 128 128 3 018

Professional services 1 854 628 521 57 50 478 257 220 2 960

Other corporate lending 1 228 172 100 70 2 1 699 9 1 690 3 099






41

Asset quality




30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other Group

Private customers 792 572 92 149 331 6 6 1 370

Private mortgage 524 525 81 135 309 1 049

Tenant owner associations

Private other 268 47 11 14 22 6 6 321



Manufacturing 35 47 40 2 5 82

Public sector and utilities 14 14

Construction 74 13 5 3 5 87

Retail and wholesale 29 33 22 10 1 62



Hotels and restaurants 35 361 126 232 3 396


Finance and insurance 11 11

Property management, including 60 64 30 8 26 124

Residential properties 15 15

Commercial 29 34 8 26 63

Industrial and Warehouse 15 15

Other 1 30 30 31

Professional services 61 7 3 4 68

Other corporate lending 55 1 1 56

Loans to the public1) 1 264 1 128 342 411 375 1 435 6 1 429 3 827




30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group



Tenant owner associations Private other 215 24 7 9 8 8 8 247







Transportation 3 1 1 4



Information and communication 1 1


Property management, including 19 21 9 2 10 99 139


Commercial 4 12 2 10 99 115


Other 1 9 9 10

Professional services 19 2 1 1 21

Other corporate lending 24 24

Loans to the public1) 507 322 125 80 117 2 184 8 2 077 3 013


Loans to the public2) 507 322 125 80 117 2 184 8 2 077 3 013


30 Sep 2021

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions &

Other

Group

Private customers 1 153 697 110 204 383 14 14 1 864

Private mortgage 670 626 92 181 353 1 296

Tenant owner associations Private other 483 71 18 23 30 14 14 568












Property management, including 79 85 39 10 36 99 263


Commercial 33 46 10 36 99 178


Other 2 39 39 41

Professional services 80 9 4 5 89Other corporate lending 79 1 1 80






42

Asset qualityCredit impairmentsQ3, 2021

Credit impairments by business area/ country,1)

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Swedish Banking -83 -34 7 -1 -140 432 373 10 27

Baltic Banking -20 -23 220 -8 43 56 146 -3 10

Estonia -11 3 105 -10 35 51 59 16 -9

Latvia -11 -16 81 5 10 -3 41 -13 5

Lithuania 2 -10 34 -3 -2 8 46 -6 14

Large Corporates & Institutions 124 31 19 537 521 740 1 627 981 117

Sweden -93 -62 -263 -60 -97 467 311 184 -69

Norway 218 140 346 603 675 268 1 255 601 241

Group Functions & Other -3 -1 -5 1 7 5

Group 18 -27 246 523 425 1 235 2 151 988 154

Opening balance of loans to the public and credit institutions, 1 July 1 April 1 January 1 October 1 July 1 April 1 January 1 October 1 July

SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Swedish Banking 1 229 650 1 214 976 1 211 620 1 211 044 1 204 797 1 199 491 1 196 596 1 200 649 1 201 379

Baltic Banking 186 825 188 006 182 044 189 912 187 218 198 159 185 593 187 310 181 898

Estonia 87 203 87 941 85 551 88 516 86 662 91 531 86 130 86 867 85 255

Latvia 36 431 37 942 35 911 38 154 37 882 40 226 37 176 37 963 37 098

Lithuania 63 191 62 123 60 582 63 242 62 674 66 402 62 287 62 480 59 545

Large Corporates & Institutions 271 604 291 112 291 578 314 255 364 043 333 251 295 037 297 503 310 079

Sweden 196 808 209 854 216 303 242 634 289 601 257 313 224 027 225 319 235 779

Norway 53 248 59 507 52 037 49 060 52 159 50 395 50 482 52 447 52 808

Group Functions & Other 18 979 19 447 43 699 19 614 19 621 19 435 20 522 22 542 24 932

Group 1 707 058 1 713 541 1 728 941 1 734 825 1 775 679 1 750 336 1 697 748 1 708 004 1 718 288

Credit impairment ratio, Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

% 2021 2021 2021 2020 2020 2020 2020 2019 2019

Swedish Banking -0.03 -0.01 0.00 0.00 -0.05 0.14 0.12 0.00 0.01

Baltic Banking -0.04 -0.05 0.48 -0.02 0.09 0.11 0.30 -0.01 0.02

Estonia -0.05 0.01 0.49 -0.05 0.16 0.22 0.26 0.08 -0.04

Latvia -0.12 -0.17 0.89 0.06 0.10 -0.03 0.42 -0.14 0.05

Lithuania 0.02 -0.06 0.22 -0.02 -0.01 0.05 0.28 -0.04 0.10

Large Corporates & Institutions 0.18 0.04 0.03 0.68 0.57 0.89 2.20 1.32 0.15

Sweden -0.19 -0.12 -0.49 -0.10 -0.13 0.73 0.55 0.33 -0.12

Norway 1.63 0.97 2.56 4.90 5.14 2.12 10.65 4.72 1.84

Group Functions & Other -0.07 -0.04 -0.10 0.02 0.16 0.09

Group 0.00 -0.01 0.06 0.12 0.10 0.28 0.51 0.23 0.04

Credit impairments by sector/ industry,1)

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Private customers 26 -30 30 -54 78 74 115 13 -5

Private mortgage -13 -36 -24 -13 4 14 41 -7 -19

Tenant owner associations -3 -12 -10 -8 11 9 -4 -4

Private other 42 18 54 -31 82 49 65 24 18

Corporate customers -1 4 230 596 359 1 117 2 026 976 164

Agriculture, forestry, fishing -2 -3 -6 -37 -19 4 19 9 -10

Manufacturing -28 -92 37 -74 -102 43 368 168 111

Public sector and utilities -6 -6 2 -33 -26 69 17 5 -6

Construction -67 -19 -39 -21 -149 133 65 143 12

Retail and wholesale -28 -55 -53 -75 16 150 139 96 45

Transportation -18 -23 60 -19 1 12 25 1


Hotels and restaurants -14 49 44 307 -2 8 69 -1 20

Information and communication -6 -1 -17 -24 -14 13 1 29 -44

Finance and insurance -6 -10 -58 -89 -24 138 45 6 -5

Property management -118 -6 -162 -38 -77 279 80 53 -20

Professional services -31 -58 -12 -71 -18 89 85 -18 24

Other corporate lending -7 31 -27 13 -5 -27 72 -7 -3

Loans to private and corporate customers 25 -26 260 542 437 1 191 2 141 989 159

Loans to credit institutions -7 -1 -14 -19 -12 44 10 -1 -5

Group 18 -27 246 523 425 1 235 2 151 988 154

1) Represents total credit impairment amount.

43

Asset qualityLoans by collateral type and Assets taken overQ3, 2021

Total loans by collateral type

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions

& Other Group

Real Estate Residential 993 955 95 707 39 968 16 569 39 170 55 316 52 813 1 629 1 144 978

Real Estate Commercial 147 791 36 165 17 996 8 722 9 447 37 299 29 047 8 250 221 255

Guarantees 13 268 5 573 3 327 579 1 667 18 582 13 741 37 423

Cash 5 999 942 7 253 682 6 941

Other 49 968 24 692 8 041 6 625 10 026 10 890 6 914 3 978 271 85 821

Unsecured 31 996 28 713 19 685 4 650 4 378 96 159 57 853 24 108 8 156 876

Total loans to the public, carrying amount 1 242 977 191 792 89 024 37 398 65 370 218 246 160 368 37 965 279 1 653 294


Private loans by collateral type

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions

& Other

Group

Real Estate Residential 946 831 94 198 38 709 16 380 39 109 295 295 1 041 324

Real Estate Commercial 21 097 828 125 49 654 21 925

Guarantees 5 324 541 290 193 58 288 288 6 153

Cash 1 162 766 2 83 681 1 928

Other 8 199 3 495 5 1 424 2 066 30 30 11 724

Unsecured 19 746 12 404 6 947 2 584 2 873 1 096 1 096 33 246

Total private loans to the public, carrying amount 1 002 359 112 232 46 078 20 713 45 441 1 709 1 709 1 116 300

Corporate loans by collateral type

SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions

& Other

Group

Real Estate Residential 47 124 1 509 1 259 189 61 55 021 52 518 1 629 103 654

Real Estate Commercial 126 694 35 337 17 871 8 673 8 793 37 299 29 047 8 250 199 330

Guarantees 7 944 5 032 3 037 386 1 609 18 294 13 453 31 270

Cash 4 837 176 5 170 1 5 013

Other 41 604 21 197 8 036 5 201 7 960 10 860 6 884 3 978 271 73 932

Unsecured 12 250 16 309 12 738 2 066 1 505 95 063 56 757 24 108 123 622

Total corporate loans to the public, carrying amount 240 453 79 560 42 946 16 685 19 929 216 537 158 659 37 965 271 536 821


SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

Large

Corporates &

Institutions

- of which

Sweden

- of which

Norway

Group

Functions

& Other

Group

Real Estate Residential

Real Estate Commercial

Guarantees

Cash

Other 165 165

Unsecured 8 8

Total corporate loans to the public, carrying amount 165 8 173

Asset taken over and cancelled leases 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

by business area, SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Baltic Banking 36 39 50 59 81 93 110 99 100

Estonia 0 1 1 2 2 7 9 3 4

Latvia 16 17 29 30 39 35 32 29 25

Lithuania 20 21 20 27 40 51 69 67 70

Large Corporates & Institutions 40 52 53 58 27 27 27 27 28

Group Functions & Other 1 1 2

Total 76 91 103 117 108 121 138 127 127

44

Asset quality

Private mortgage loans1)

Q3, 2021

Average Loan-to-value (LTV), %2)

30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

2021 2021 2021 2020 2020 2020 2020 2019 2019

Total portfolio

Sweden 50 51 53 53 54 56 56 55 55

Estonia 45 46 47 48 49 46 46 47 47

Latvia 70 72 73 76 77 73 71 75 71

Lithuania 54 54 54 57 56 56 57 60 60

New lending3)

Sweden 66 68 69 67 68 69 69 70 68

Estonia 72 71 73 72 71 69 72 71 70

Latvia 76 76 76 76 76 76 77 76 76

Lithuania 75 76 76 76 76 76 77 76 76

Share of portfolio which amortises, %

Total portfolio

Sweden4) 72 69 68 68 68 69 72 72 72

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

New lending5)

Sweden 88 88 87 87 87 87 88 88 89

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

Share of properties with LTV > 70%6)

Total portfolio

Sweden 9 11 13 14 15 17 16 15 16

Estonia 6 7 7 9 10 6 6 7 7

Latvia 20 22 23 26 27 24 22 26 23

Lithuania 13 12 11 17 16 15 18 23 23

New lending5)

Sweden 45 44 46 46 48 47 46 47 47

Estonia 57 52 61 61 56 49 56 55 49

Latvia 79 78 78 73 74 72 75 74 74

Lithuania 78 81 82 80 82 81 85 85 83

Share of properties with LTV > 50% - 70%6)

Total portfolio

Sweden 25 25 24 24 24 24 24 24 24

Estonia 17 16 17 16 16 16 16 17 16

Latvia 22 21 21 21 21 21 21 21 22

Lithuania 27 27 28 26 26 27 25 24 24

New lending5)

Sweden 28 29 28 27 27 27 27 26 27

Estonia 25 26 22 24 27 31 28 28 32

Latvia 15 15 15 19 17 19 17 18 19

Lithuania 15 13 12 13 12 12 11 10 12

Share of properties with LTV 0% - 50%6)

Total portfolio

Sweden 66 64 63 62 61 59 60 61 60

Estonia 77 77 76 75 74 78 78 76 77

Latvia 58 57 56 53 52 55 57 53 55

Lithuania 60 61 61 57 58 58 57 53 53

New lending5)

Sweden 27 27 26 27 25 26 27 27 26

Estonia 18 22 17 15 17 20 16 17 19

Latvia 6 7 7 8 9 9 8 8 7

Lithuania 7 6 6 7 6 7 4 5 5

1) Based on property level and private individuals loans collateralised by single-family homes, vacation houses and tenant owner rights.

2) LTV calculation method - see cover pool, page 65.

3) New lending LTV is calculated year to date.

4) This includes only households with agreed amortisation plans. In recent years extra amortisation has been around 30% of the volume of

amortisations according to an agreed plan.

5) New Lending - Rolling 3 months data.

6) Share of contracts for Baltic countries.

45

Asset qualityPrivate mortgage loans (cont.)1)

Q3, 2021

Share of properties with LTV > 70% which 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

amortises2)

2021 2021 2021 2020 2020 2020 2020 2019 2019

Total portfolio

Sweden3)

95 87 84 84 84 87 98 98 98

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

New lending4)

Sweden 99 98 97 98 97 97 99 99 99

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

Share of properties with LTV > 50% - 70% which

amortises

Total portfolio

Sweden3)

93 86 84 84 83 83 89 89 87

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

New lending4)

Sweden 99 98 97 97 97 97 98 98 99

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

Share of properties with LTV 0% - 50% which

amortises

Total portfolio

Sweden3)

62 59 58 58 58 58 59 59 59

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

New lending4)

Sweden 59 61 58 58 59 58 58 57 58

Estonia 100 100 100 100 100 100 100 100 100

Latvia 100 100 100 100 100 100 100 100 100

Lithuania 100 100 100 100 100 100 100 100 100

1) Based on property level and private individuals loans collateralised by single-family homes, vacation houses and tenant owner rights.

2) LTV calculation method - see cover pool, page 65.

3) This includes only households with agreed amortisation plans. In recent years extra amortisation has been around 30% of the volume of amortisations

according to an agreed plan.

4) New Lending - Rolling 3 months data.

Concentration risk - Top 20 Corporate ClientsQ3, 2021

Top 20 corporate exposures1)

SEKm

Top 20 corporate exposures 124 161

in % of Common Equity Tier 1 Capital 96

Out of that municipalities 9 423

Out of that to investment grade 119 470

Collateral value of the top 20 63 684

Top 20 corporate exposures1)

by Industry SEKm Total

Investment

grade

Collateral

value

Manufacturing 23 779 23 779 169

Public sector and utilities 9 423 4 732 53

Construction 5 476 5 476 989

Retail and wholesale 4 892 4 892 72


Property management 71 566 71 566 54 907

Total 124 161 119 470 63 684

Excluding exposures in partly owned subsidiaries.

1) Loans and off-balance exposures.

46

Capital adequacy

Credit risks, EAD distribution by business segmentand by customer segmentQ3, 2021

Exposure distribution by business segment

30 Sep 2021

SEKm Risk grades PD

Swedish

Banking

Baltic

Banking

Large

Corporates &

Institutions

Group

Functions &

Other Total

IRB approach

Default Default 100.0 1 611 1 281 3 878 6 770

High risk 0-5 > 5.7 9 433 11 363 1 595 16 22 407

Increased risk 6-8 2.0-5.7 28 894 23 252 5 626 20 57 792

Normal risk 9-12 0.5-2.0 129 732 68 054 47 884 5 245 675

Low risk 13-21 <0.5 1 149 494 94 870 294 378 796 849 2 335 591

Total rated exposures 1 319 164 198 820 353 361 796 890 2 668 235

Total non-rated exposures 1 472 6 340 680 6 000 14 492

Total IRB approach 1 320 636 205 160 354 041 802 890 2 682 727

of which companies not included in Swedbank Group

Standardised approach

Total standardised approach 30 547 12 595 15 425 6 627 65 194

of which companies not included in Swedbank Group 16 841

Total IRB- and standardised approach 1 351 183 217 755 369 466 809 517 2 747 921


Exposure distribution by customer segment

30 Sep 2021

SEKm Risk grades PD Retail Institutions Sovereign Corporates Other Total

IRB approach

Default Default 100.0 1 941 4 829 6 770

High risk 0-5 > 5.7 13 391 9 016 22 407

Increased risk 6-8 2.0-5.7 33 893 3 641 23 255 57 792

Normal risk 9-12 0.5-2.0 110 970 203 134 502 245 675

Low risk 13-21 <0.5 1 094 193 54 540 805 108 381 750 2 335 591

Total rated exposures 1 254 388 54 746 805 749 553 352 2 668 235

Total non-rated exposures 321 14 171 14 492

Total IRB approach 1 254 388 54 746 805 749 553 673 14 171 2 682 727

of which companies not included in Swedbank Group


Central and local government 3 133

Retail 20 360

Institutions 8 295

Corporates 5 694

Exposure secured on residential property 5 595

Other exposure classes 22 117

Total standardised approach 65 194


Total IRB- and standardised approach 1 254 388 54 746 805 749 553 673 14 171 2 747 921


The amounts also include EAD from institutions in the Swedbank Consolidated situation, but not in the Group, i.e. the Entercard Group that is

included through the proportionate consolidation method. As of 31 December 2020 insurance companies are recognized in Swedbank consolidated

situation according to the equity method.

The tables distribute credit risks by Exposure at Default (EAD). EAD includes items on and off the balance sheet, e.g. guarantees, loans and

derivatives.

47

Capital adequacy

30 Sep 2021

Consolidated situation, SEKm

Swedish

Banking

Baltic

Banking

- of which

Estonia

- of which

Latvia

- of which

Lithuania

- of which

Investment and

Other

Large

Corporates &

Institutions

Group

Functions &

Other Total

Retail - mortgages 1)

Exposure 1 065 052 95 823 40 652 16 950 38 221 81 1 160 956

Risk exposure amount, pillar 1 29 814 21 655 7 041 7 007 7 607 3 51 472

Exposure weighted average PD (incl. defaults), % 0.24 2.12 1.68 3.37 2.04 0.19 0.39

Exposure weighted average PD (excl. defaults), % 0.17 1.64 1.46 2.61 1.41 0.19 0.29

Exposure weighted average LGD, % 10.1 16.2 13.5 23.7 15.8 14.3 10.6

Average risk weight, % 2.8 22.6 17.3 41.3 19.9 4.1 4.4

Retail - other

Exposure 62 705 29 505 12 381 7 879 9 245 1 210 12 93 432

Risk exposure amount, pillar 1 15 867 11 010 3 378 4 162 3 470 354 4 27 235

Exposure weighted average PD (incl. defaults), % 2.12 3.75 3.14 5.26 3.30 1.17 1.79 2.63

Exposure weighted average PD (excl. defaults), % 1.11 3.22 2.64 4.53 2.90 1.16 1.79 1.79

Exposure weighted average LGD, % 38.4 34.4 28.4 42.4 35.8 46.4 41.1 37.3

Average risk weight, % 25.3 37.3 27.3 52.8 37.5 29.3 37.4 29.1

Corporate - Advanced-IRB

Exposure 164 944 299 977 464 921

Risk exposure amount, pillar 1 41 444 88 238 129 682

Exposure weighted average PD (incl. defaults), % 1.25 1.70 1.54

Exposure weighted average PD (excl. defaults), % 1.08 0.45 0.67

Exposure weighted average LGD, % 16.8 25.7 22.5

Average risk weight, % 25.1 29.4 27.9

Corporate - Foundation-IRB

Exposure 2 220 69 025 34 514 14 662 19 849 16 321 865 88 431

Risk exposure amount, pillar 1 1 280 44 175 21 033 10 289 12 853 7 559 336 53 350





Corporate - specialized lending

Exposure 321 239 39 43 321

Risk exposure amount, pillar 1 390 294 66 30 390

Average risk weight, % 121.6 123.1 167.7 69.8 121.6

Sovereigns - Foundation-IRB

Exposure 17 406 3 764 1 559 466 1 739 13 609 770 970 805 749

Risk exposure amount, pillar 1 660 199 56 68 75 459 7 689 9 007





Institutions

Exposure 6 837 703 227 255 221 22 163 25 043 54 746

Risk exposure amount, pillar 1 1 644 189 61 67 61 5 617 2 162 9 612





Other IRB exposure classes

Exposure 1 472 6 019 2 396 1 376 2 247 680 6 000 14 171

Risk exposure amount, pillar 1 1 387 2 008 719 589 700 680 5 647 9 722


Total IRB approach

Exposure 1 320 636 205 160 91 968 41 627 71 565 354 041 802 890 2 682 727

Risk exposure amount, pillar 1 92 096 79 626 32 582 22 248 24 796 102 910 15 838 290 470






Exposure 30 547 12 595 7 004 920 3 508 1 163 15 425 6 627 65 194

Risk exposure amount, pillar 1 35 178 7 792 2 377 326 2 182 2 907 5 235 1 966 50 171

Average risk weight, % 115.2 61.9 33.9 35.4 62.2 250.0 33.9 29.7 77.0

Total exposures

Exposure 1 351 183 217 755 98 972 42 547 75 073 1 163 369 466 809 517 2 747 921

Risk exposure amount, pillar 1 127 275 87 418 34 959 22 574 26 978 2 907 108 145 17 804 340 641

Average risk weight, % 9.4 40.1 35.3 53.1 35.9 250.0 29.3 2.2 12.4

The IRB approach tables distribute credit risks by Exposure at Default (EAD).

EAD includes items on and off the balance sheet, e.g. guarantees, loans and derivatives.

The amounts comprise the Swedbank Group. As of 31 December 2020 insurance companies are recognized in Swedbank consolidated situation according to the equity method.

The Entercard Group is included as well through the proportionate consolidation method.

The breakdown into exposure classes is made in accordance to the capital adequacy framework in Basel 3.

Capital adequacy parameters for credit risk - business segmentsQ3, 2021

1) Average risk weights and capital requirements is presented for Pillar 1. The risk weight floor of 25 percent for the Swedish mortgage portfolio has been moved from Pillar 2 to Pillar 1. The figures

above is presented without the risk weight floor of 25 per cent.

48

Capital adequacyCapital adequacy parameters for credit risk - customer segments

Consolidated situation, SEKm Basel 3

30 Sep

Basel 3

30 Jun

Basel 3

31 Mar

Basel 3

31 Dec

Basel 3

30 Sep

Basel 3

30 Jun

Basel 3

31 Mar

Basel 3

31 Dec

Basel 3

30 Sep

Exposures 2021 2021 2021 2020 2020 2020 2020 2019 2019

Retail 1 254 388 1 242 829 1 223 095 1 211 927 1 216 642 1 206 856 1 198 714 1 184 439 1 193 093

of which Retail mortgage 1 160 956 1 149 239 1 131 376 1 119 419 1 121 609 1 111 871 1 101 787 1 070 279 1 072 306

of which Retail other 93 432 93 590 91 719 92 508 95 033 94 985 96 927 114 160 120 787

Corporate 553 673 548 737 543 540 535 990 542 874 551 587 560 915 544 080 549 589

of which Advanced-IRB 464 921 462 841 455 570 457 328 460 294 468 938 470 472 457 383 460 316

of which Foundation-IRB 88 431 85 564 87 659 78 326 82 021 82 018 89 671 86 088 88 632

of which specialised lending 321 332 311 336 559 631 772 609 641

Sovereigns 805 749 747 427 616 229 475 296 521 322 556 156 416 049 362 380 390 529

Institutions 54 746 53 819 54 882 57 900 60 638 58 902 68 774 53 466 54 776

Non credit obligation 14 171 13 791 17 030 16 217 13 458 14 902 15 053 12 581 13 381

IRB approach total 2 682 727 2 606 603 2 454 776 2 297 330 2 354 934 2 388 403 2 259 505 2 156 946 2 201 368

Standardised approach 65 194 67 079 116 726 107 232 105 724 99 072 93 050 79 511 75 585

of which central and local government 10 634 10 858 9 929 7 581 8 675 8 787 9 318 6 107 6 272

Total exposures 2 747 921 2 673 682 2 571 502 2 404 562 2 460 658 2 487 475 2 352 555 2 236 457 2 276 953

Risk exposure amount

Retail 78 707 75 975 76 895 75 784 76 902 76 541 78 742 77 162 78 628

of which Retail mortgage 1) 51 472 48 912 50 201 49 260 49 607 49 355 50 562 49 094 49 536

of which Retail other 27 235 27 063 26 694 26 524 27 295 27 186 28 180 28 068 29 092

Corporate 183 422 182 896 195 043 193 156 196 398 177 563 175 774 169 325 170 120


of which Foundation-IRB 53 350 53 001 52 923 49 211 51 654 51 100 53 865 51 337 52 748


Sovereigns 9 007 8 773 7 253 6 740 6 446 6 907 5 407 5 021 5 252

Institutions 9 612 9 480 9 759 11 484 11 526 11 557 13 963 9 855 10 158

Non credit obligation 9 722 9 791 10 484 12 488 9 504 10 762 10 997 8 122 9 533

IRB approach total 290 470 286 915 299 434 299 652 300 776 283 330 284 883 269 485 273 691

Standardised approach 50 171 49 017 47 976 48 309 48 244 48 077 47 038 45 174 45 512

of which central and local government 672 607 620 617 597 592 560 535 487

Total risk exposure amount 340 641 335 932 347 410 347 961 349 020 331 407 331 921 314 659 319 203

Average risk weight, %

Retail 6.3 6.1 6.3 6.3 6.3 6.3 6.6 6.5 6.6

of which Retail mortgage 1) 4.4 4.3 4.4 4.4 4.4 4.4 4.6 4.6 4.6

of which Retail other 29.1 28.9 29.1 28.7 28.7 28.6 29.1 24.6 24.1

Corporate 33.1 33.3 35.9 36.0 36.2 32.2 31.3 31.1 31.0

of which Advanced-IRB 27.9 28.0 31.1 31.4 31.3 26.8 25.7 25.6 25.3

of which Foundation-IRB 60.3 61.9 60.4 62.8 63.0 62.3 60.1 59.6 59.5

of which specialised lending 121.6 119.3 130.2 121.7 110.7 108.6 113.5 118.2 120.3

Sovereigns 1.1 1.2 1.2 1.4 1.2 1.2 1.3 1.4 1.3

Institutions 17.6 17.6 17.8 19.8 19.0 19.6 20.3 18.4 18.5

Non credit obligation 68.6 71.0 61.6 77.0 70.6 72.2 73.1 64.6 71.2

IRB approach total 10.8 11.0 12.2 13.0 12.8 11.9 12.6 12.5 12.4

Standardised approach 77.0 73.1 41.1 45.1 45.6 48.5 50.6 56.8 60.2

of which central and local government 6.3 5.6 6.2 8.1 6.9 6.7 6.0 8.8 7.8

Total average risk weight, % 2)

12.4 12.6 13.5 14.5 14.2 13.3 14.1 14.1 14.0

Average PD, excluding defaulted exposures, %

Retail 0.40 0.41 0.42 0.41 0.43 0.43 0.46 0.45 0.46

of which Retail mortgage 0.29 0.29 0.30 0.30 0.31 0.31 0.34 0.34 0.34


Corporate 0.78 0.81 0.84 0.87 0.90 0.89 0.76 0.76 0.71



Sovereigns 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Institutions 0.05 0.05 0.06 0.06 0.06 0.05 0.06 0.05 0.05

Total average PD, excluding defaulted exposures, % 2) 0.35 0.37 0.40 0.43 0.43 0.42 0.44 0.44 0.43

Average LGD, %

Retail 12.6 12.6 12.6 12.6 12.7 12.7 12.7 12.8 12.8

of which Retail mortgage 10.6 10.6 10.6 10.6 10.6 10.6 10.6 10.7 10.6


Corporate 26.0 25.7 25.8 25.7 25.7 22.7 23.1 23.0 23.0



Sovereigns 45.0 45.0 45.0 45.0 45.0 45.0 45.0 45.0 45.0

Institutions 31.4 31.0 30.7 32.3 32.6 33.1 32.7 31.3 31.6

Total average LGD, % 2)

25.6 25.1 24.1 22.9 23.4 23.1 21.9 21.3 21.6

2) Only exposures calculated by IRB approach.

Q3, 2021

1) Average risk weights and capital requirements is presented for Pillar 1. The risk weight floor of 25 percent for the Swedish mortgage portfolio has been moved from Pillar 2 to Pillar 1. The figures above is presented

without the risk weight floor of 25 per cent.

49

Capital adequacy

Basel 3

30 Sep

Basel 3

30 Jun

Basel 3

31 Mar

Basel 3

31 Dec

Basel 3

30 Sep

Basel 3

30 Jun

Basel 3

31 Mar

Basel 3

31 Dec

Basel 3

30 Sep

Consolidated situation, SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Expected loss

Retail 1 646 1 630 1 668 1 652 1 717 1 684 1 746 1 682 1 734

of which Retail mortgage 754 745 767 776 792 793 827 793 812

of which Retail other 892 885 901 876 925 891 919 889 922

Corporate 3 920 3 767 3 643 6 038 6 895 7 059 6 796 5 425 5 074


of which Foundation-IRB 860 895 812 827 905 875 816 745 716


Sovereigns 8 10 7 6 6 6 5 4 4

Institutions 11 11 13 14 13 12 17 10 11

Total expected loss 1)

5 585 5 418 5 331 7 710 8 631 8 761 8 564 7 121 6 823

Expected loss, non defaulted exposures

Retail 1 107 1 081 1 092 1 065 1 100 1 094 1 164 1 122 1 160



Corporate 1 213 1 247 1 270 1 287 1 358 1 249 1 092 1 051 996

of which Advanced-IRB 688 694 784 810 854 725 616 610 566



Sovereigns 8 10 7 6 6 6 5 4 4

Institutions 11 11 13 14 13 12 17 10 11

Total expected loss, non defaulted exposures 1)

2 339 2 349 2 382 2 372 2 477 2 361 2 278 2 187 2 171

Expected loss, defaulted exposures

Retail 539 549 576 587 617 590 582 560 574



Corporate 2 707 2 520 2 373 4 751 5 537 5 810 5 704 4 374 4 078



of which specialised lending 9 10 9 10

Sovereigns

Institutions

Total expected loss, defaulted exposures 1)

3 246 3 069 2 949 5 338 6 154 6 400 6 286 4 934 4 652

Defaulted exposures

Retail 1 942 1 976 2 152 2 222 2 314 2 368 2 268 2 285 2 431

of which Retail mortgage 1 143 1 185 1 323 1 394 1 467 1 536 1 471 1 466 1 591


Corporate 4 831 4 964 5 534 8 355 10 935 11 773 11 837 11 558 10 528




Sovereigns

Institutions

Total defaulted exposures 1)

6 773 6 940 7 686 10 577 13 249 14 141 14 105 13 843 12 959

1) Only exposures calculated by IRB approach.

Change in Risk exposure amount (REA), Basel 3Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

Consolidated situation, SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

REA at beginning of period, Basel 3 688 517 694 625 689 594 691 535 692 352 691 107 649 237 656 530 658 097

Exposure change (EAD) 10 875 6 475 2 177 -1 818 -742 -3 919 19 859 -2 868 3 240

Rating migration (PD) -2 791 -2 722 -599 -2 073 1 002 6 709 55 2 185 1 090

LGD change -376 -3 208 112 5 19 472 -699 -2 050 -1 439 -2 366

Credit risk other -3 410 -11 934 -2 224 2 702 -2 075 -2 723 -431 -2 839 -4 612

CVA risk 244 -1 143 3 -1 082 463 -2 118 2 405 -113 470

Market risk -1 064 -1 333 3 565 -3 009 812 1 025 2 136 33 1 669

Operational risk 2 067 2 940

Additional REA, Article 3 CRR 5 377 2 135 -243 960 -22 016 -716 10 937 -2 485 -2 443

Additional REA, Article 458 CRR 5 848 5 622 2 240 307 2 267 3 686 6 019 233 1 385

REA at period end, Basel 3 703 220 688 517 694 625 689 594 691 535 692 352 691 107 649 237 656 530

Capital adequacy parameters for credit risk - customer segments cont.Q3, 2021

50

Capital adequacy

Capital adequacy, consolidated situationQ3, 2021

30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

Consolidated situation, SEKm 2021 2021 2021 2020 2020

Available own funds (amounts)

Common Equity Tier 1 (CET1) capital 129 867 127 551 124 725 120 496 116 418

Tier 1 capital 142 960 136 146 133 548 128 848 125 636

Total capital 158 682 151 840 149 711 144 737 142 350

Risk-weighted exposure amounts

Total risk exposure amount 703 220 688 517 694 625 689 594 691 535

Capital ratios (as a percentage of risk-weighted exposure amount)

Common Equity Tier 1 ratio (%) 18.5 18.5 18.0 17.5 16.8

Tier 1 ratio (%) 20.3 19.8 19.2 18.7 18.2

Total capital ratio (%) 22.6 22.1 21.6 21.0 20.6

Additional own funds requirements to address risks other than the risk of excessive leverage (as a percentage of risk-weighted exposure amount)

Additional own funds requirements to address risks other than the risk of excessive leverage (%) 1.7 2.0 2.0 2.0 3.3

of which: to be made up of CET1 capital (percentage points) 1.2 1.4 1.4 1.4 3.0

of which: to be made up of Tier 1 capital (percentage points) 1.3 1.7 1.7 1.7 3.1

Total SREP own funds requirements (%) 9.7 10.0 10.0 10.0 11.3

Combined buffer and overall capital requirement (as a percentage of risk-weighted exposure amount)

Capital conservation buffer (%) 2.5 2.5 2.5 2.5 2.5

Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member

State (%)

n/a n/a n/a n/a n/a

Institution specific countercyclical capital buffer (%) 0.0 0.0 0.0 0.0 0.0

Systemic risk buffer (%) 3.0 3.0 3.0 3.0 3.0

Global Systemically Important Institution buffer (%) n/a n/a n/a n/a n/a

Other Systemically Important Institution buffer (%) 1.0 1.0 1.0 1.0 0.0

Combined buffer requirement (%) 6.5 6.5 6.5 6.5 5.5

Overall capital requirements (%) 16.2 16.5 16.5 16.5 16.9

CET1 available after meeting the total SREP own funds requirements (%) 8.8 8.5 8.0 7.5 5.5

Leverage ratio

Total exposure measure 2 927 123 2 838 534 2 779 915 2 526 721 2 636 884

Leverage ratio (%) 4.9 4.8 4.8 5.1 4.8

Additional own funds requirements to address the risk of excessive leverage (as a percentage of total exposure measure)

Additional own funds requirements to address the risk of excessive leverage (%) 0.0 0.0 n/a n/a n/a

of which: to be made up of CET1 capital (percentage points) 0.0 0.0 n/a n/a n/a

Total SREP leverage ratio requirements (%) 3.0 3.0 n/a n/a n/a

Leverage ratio buffer and overall leverage ratio requirement (as a percentage of total exposure measure)

Leverage ratio buffer requirement (%) 3.0 3.0 n/a n/a n/a

Overall leverage ratio requirement (%) 3.0 3.0 n/a n/a n/a

Liquidity Coverage Ratio 1)

Total high-quality liquid assets (HQLA) (Weighted value -average) 671 760 609 652 574 930 537 572 502 144

Cash outflows - Total weighted value 489 426 453 480 433 130 413 139 398 318

Cash inflows - Total weighted value 53 679 58 464 69 439 77 124 82 229

Total net cash outflows (adjusted value) 435 747 395 016 363 691 336 015 316 089

Liquidity coverage ratio (%) 155 155 159 161 160

Net Stable Funding Ratio

Total available stable funding 1 642 641 1 605 176 1 616 476 1 652 303 1 642 142

Total required stable funding 1 328 311 1 308 168 1 316 805 1 316 918 1 325 509

NSFR ratio (%) 124 123 123 125 124

1) LCR based on the twelve-month average as in the Pillar 3 disclosure.

Common Equity Tier 1 capital

Consolidated situation, SEKm 30 Sep

2021

30 Jun

2021

31 Mar

2021

31 Dec

2020

30 Sep

2020

Shareholders' equity according to the Group's balance sheet 164 612 159 368 153 742 155 168 150 564

Anticipated dividend -16 215 -13 466 -10 685 -16 320 -14 065

Deconsolidation of insurance companies -1 472

Value changes in own financial liabilities -75 -73 -78 -77 -84

Cash flow hedges 1 2 -1 2 -5

Additional value adjustments -683 -785 -737 -478 -605

Goodwill -13 524 -13 471 -13 597 -13 414 -13 907

Deferred tax assets -120 -121 -113 -78 -154

Intangible assets -3 975 -3 755 -3 627 -4 116 -3 822

Insufficient coverage for non-performing exposures -1

Deductions of CET1 capital due to Article 3 CRR -113 -112 -144 -158Shares deducted from CET1 capital -40 -36 -35 -33 -32

Total Common Equity Tier 1 capital 129 867 127 551 124 725 120 496 116 418

Risk exposure amount

Consolidated situation, SEKm30 Sep

2021

30 Jun

2021

31 Mar

2021

31 Dec

2020

30 Sep

2020

Risk exposure amount credit risks, standardised approach 50 171 49 017 47 976 48 309 48 244

Risk exposure amount credit risks, IRB 290 470 286 913 299 434 299 652 300 776

Risk exposure amount default fund contribution 252 664 574 556 681

Risk exposure amount settlement risks 0 0 0 0 1

Risk exposure amount market risks 18 481 19 546 20 879 17 314 20 322

Risk exposure amount credit value adjustment 3 503 3 258 4 401 4 398 5 480

Risk exposure amount operational risks 73 521 73 521 73 521 73 521 71 454

Additional risk exposure amount, Article 3 CRR 27 069 21 692 19 556 19 800 18 840

Additional risk exposure amount, Article 458 CRR 239 753 233 906 228 284 226 044 225 737

Total risk exposure amount 703 220 688 517 694 625 689 594 691 535

51

Capital adequacy

Capital requirements by entity and Outstanding subordinated debt

Q3, 2021

Capital requirements 1)

% CET1 AT1 T2

Total

capital

Pillar 1

Minimum requirement 4.5 1.5 2.0 8.0

Systemic risk buffer 3.0 3.0

Capital conservation buffer (CCoB) 2.5 2.5

Other systemically important institution buffer (O-SII) 1.0 1.0

Countercyclical capital buffer (CCyB) 2)

0.0 0.0

Total Pillar 1 11.0 1.5 2.0 14.5

Pillar 2

Individual pillar 2 charge 3)

of which Interest rate risk in the banking book 0.2 0.1 0.1 0.4

of which Credit-related concentration risk 0.3 0.1 0.1 0.5

of which Adjustment to estimates of probability of default 0.2 0.0 0.0 0.2

of which Commercial real estate add-on 0.5 0.0 0.1 0.6

Individual pillar 2 guidance (P2G) 4)

1.5 1.5

Total Pillar 2 2.7 0.2 0.4 3.2

Capital requirements 13.7 1.7 2.4 17.8

Actual capital ratios as of 30 Sep 2021 18.5 1.9 2.2 22.6


% CET1 AT1 T2

Total

capital

Pillar 1

Minimum requirement 4.5 1.5 2.0 8.0

Systemic risk buffer

Other systemically important institution buffer (O-SII)

Capital conservation buffer (CCoB) 2.5 2.5

Countercyclical capital buffer (CCyB) 2)

0.1 0.1

Total Pillar 1 7.1 1.5 2.0 10.6

Pillar 2 3)

Individual pillar 2 charge 1.1 0.1 0.3 1.5

Total Pillar 2 1.1 0.1 0.3 1.5

Capital requirements 8.1 1.6 2.3 12.1

Capital ratios as of 30 Sep 2021 27.2 3.7 4.5 35.4


% CET1 AT1 T2

Total

capital CET1 AT1 T2

Total

capital CET1 AT1 T2

Total

capital

Pillar 1

Minimum requirement 4.5 1.5 2.0 8.0 4.5 1.5 2.0 8.0 4.5 1.5 2.0 8.0

Systemic risk buffer

Other systemically important institution buffer (O-SII) 2.0 2.0 2.0 2.0 2.0 2.0

Capital conservation buffer (CCoB) 2.5 2.5 2.5 2.5 2.5 2.5

Countercyclical capital buffer (CCyB) 2) 0.0 0.0 0.0 0.0 0.0 0.0

Total Pillar 1 9.0 1.5 2.0 12.5 9.0 1.5 2.0 12.5 9.0 1.5 2.0 12.5

Pillar 2 3)

Individual pillar 2 charge 1.1 0.4 0.5 2.0 1.0 0.3 0.4 1.7 1.0 0.3 0.5 1.8

Individual pillar 2 guidance 1.0 1.0 1.0 1.0 1.0 1.0

Total Pillar 2 2.1 0.4 0.5 3.0 2.0 0.3 0.4 2.7 2.0 0.3 0.5 2.8

Capital requirements 11.1 1.9 2.5 15.5 11.0 1.8 2.4 15.2 11.0 1.8 2.5 15.3

Capital ratios as of 30 Sep 2021 37.9 37.9 33.7 33.7 26.7 26.7

1) Swedbank's calculation based on announced capital requirements, including implemented buffers, Pillar 2 requirements and Pillar 2 guidance (P2G).

3) Individual Pillar 2 requirement according to decision from SFSA SREP 2021.

4) Swedbank Group is subject to P2G from Q3 2021. Failure to comply is not in itself a breach of own funds requirements. P2G also does not stipulate any limitation on the Maximum Distributable Amount.

Note: There might be a case when values in columns and rows don’t sum up exactly due to rounding.

ISIN Value date Maturity date Coupon Call date Currency Fitch

Rating

Moody's S&P

Tier 2

XS1617859464 22-May-2017 22-Nov-2027 1.00% 22-Nov-2022 EUR A- Baa2 BBB+

XS1796813589 28-Mar-2018 28-Mar-2033 0.90% 28-Mar-2028 JPY

XS1807179277 12-Apr-2018 12-Apr-2028 0.75% 12-Apr-2023 JPY

XS1816641937 8-May-2018 8-May-2028 1.59% 8-May-2023 SEK A- Baa2 BBB+

XS1848755358 29-Jun-2018 29-Jun-2028 0.95% 29-Jun-2023 JPY Baa2 BBB+

XS1880928459 18-Sep-2018 18-Sep-2028 1.50% 18-Sep-2023 EUR A- Baa2 BBB+

Total Tier 2

Additional Tier 1

XS1535953134 16-Dec-2016 Perpetual 6.00% 17-Mar-2022 Fixed rate eq. to USD MS+411bps USD BBB Ba1 BBB-

XS2046625765 29-Aug-2019 Perpetual 5.63% 17-Sep-2024 Fixed rate eq. to USD MS +413bps USD BBB Ba1 BBB-

XS2377291963 25-Aug-2021 Perpetual 4.00% 17-Sep-2029 USD BBB Ba1 BBB-

Total Additional Tier 1

Total

1) Excluding intragroup holdings.

Swedbank Lithuania

2) The CCyB is according to the latest announcements by the authorities.

Nominal amount,

local currency, m

Carrying amount,

SEKm 1)

Fixed rate equiv. to EUR MS +82bps 650 6 647

1 209

Fixed rate equiv. to JPY MS +85.125bps 11 000 864

5 000 398

Fixed rate equiv. to JPY MS +64.625bps 8 000 629

5 140

14 887

500 4 418

Fixed rate eq, to USD MS +286bps 500

28 030

Swedbank Consolidated situation

1.59%

Fixed rate equiv. to JPY MS +64.25bps

Coupon after call date

Outstanding subordinated debt - Swedbank AB (parent company)

30 September 2021

Swedbank AB

Swedbank Estonia Swedbank Latvia

500

1 200

4 459

4 266

13 143

Fixed rate equiv. to EUR MS +32bps 500

52

Capital adequacyICAAP 2021 - Scenario and Income statementQ3, 2021

Stresstest ICAAP-scenario - triggers 1)

The COVID-19 vaccine proves to be ineffective. The virus spreads and restrictions become more stringent

Combination of demand & supply shocks

The supply shock is “overtaken” by the size of the demand shock

Central banks act on their mandate

Economic sentiment fades

Industrial recovery is put on hold

Financial markets stressed

The downturn is combated using inefficient green governmental investments

Stresstest ICAAP-scenario - parameters 2)

Q4

2020

Q1

2021

Q2

2021

Q3

2021

Q4

2021

Q1

2022

Q2

2022

Q3

2022

Q4

2022

Q1

2023

Q2

2023

Q3

2023

Q4

2023

Sweden

Real GDP growth, % YoY -5.2 -5.7 -6.3 -6.0 -7.0 -6.1 -6.7 -5.3 -2.1 -0.2 1.5 2.2 2.1

Unemployment, % 8.9 11.6 13.3 14.0 14.0 13.5 13.2 12.8 12.5 12.2 11.9 11.7 11.5

Inflation, % YoY 0.6 0.1 -0.5 -0.5 -0.5 -0.5 -0.5 -0.2 0.1 0.1 0.2 0.3 0.3

Real estate prices, index 100.0 99.1 91.2 83.2 75.9 67.5 66.4 65.4 64.6 64.4 64.5 64.7 65.0

Estonia

Real GDP growth, % YoY -4.3 -5.5 -4.3 -4.5 -5.2 -5.4 -5.6 -4.1 -2.4 -1.3 -0.8 -0.8 -0.4

Unemployment, % 8.1 11.3 13.6 15.5 16.0 15.9 15.5 14.8 14.2 13.6 13.0 12.4 11.9

Inflation, % YoY 0.0 -0.2 -0.5 -0.5 -0.6 -0.5 -0.4 -0.2 -0.1 0.0 0.0 0.1 0.2


Latvia


Unemployment, % 8.3 9.9 12.3 15.1 16.5 16.7 16.3 16.0 15.3 14.6 14.0 13.4 13.1

Inflation, % YoY 0.7 0.1 -0.4 -0.5 -0.6 -0.6 -0.4 -0.2 0.0 0.0 0.1 0.1 0.2


Lithuania


Unemployment, % 7.5 9.1 12.8 15.9 16.3 16.3 15.9 15.2 14.5 13.9 13.3 12.7 12.5

Inflation, % YoY 1.2 -0.1 -0.5 -0.6 -0.6 -0.5 -0.4 -0.2 0.0 0.0 0.1 0.1 0.2


Interest Rates

STIBOR 3m ,% 0.04 0.04 -0.21 -0.46 -0.66 -0.86 -0.96 -1.06 -1.06 -1.06 -1.06 -1.06 -1.06

EURIBOR 6m, % -0.45 -0.56 -0.66 -0.76 -0.86 -0.96 -1.06 -1.06 -1.06 -1.06 -1.06 -1.06 -1.06

FX

USD/SEK 8.24 8.45 8.65 8.86 9.06 8.98 8.90 8.81 8.73 8.65 8.56 8.48 8.39

EUR/SEK 10.05 10.30 10.55 10.80 11.06 10.95 10.85 10.75 10.65 10.54 10.44 10.34 10.24

Income statement under ICAAP-Scenario 3) 4)

SEKbn 2020 2021 2022 2023

Net interest income 28.4 27.7 25.3 24.4

Total income 46.5 37.1 35.6 36.5

Total expenses 24.8 20.7 20.0 20.0

Profit before impairments 21.7 16.4 15.7 16.5

Credit impairments 5.0 15.7 8.9 5.4

Profit before tax 16.6 0.7 6.8 11.1

Tax expense 3.7 0.1 1.3 2.2

Profit for the period 12.9 0.6 5.5 8.9

1) The scenario used has a targeted severity of once-in-25-years and was developed in autumn 2020, at the time when the second wave of the pandemic was spreading in the society.

2) Q4 2020 figures are based on preliminary estimates as final figures were published after the submission of the ICAAP report.

3) ICAAP is based on the Swedbank Consolidated Situation, which in some cases differs from Swedbank Group.

4) The Board of Directors has set the dividend policy to 50 per cent of profit for the year. This policy is applied in the ICAAP scenario.

53

Capital adequacyICAAP 2021 - Credit impairments and capitalQ3, 2021

Capital assessment

SEKbn 2020 2021 2022 2023

Total REA, Basel 3 689.6 851.8 833.4 877.3

Common Equity Tier 1 capital, Basel 3 120.5 117.2 117.5 120.4

Common Equity Tier 1 capital ratio %, Basel 3 17.5 13.8 14.1 13.7

Credit Impairments per BA

EAD1)

Acc. Credit

SEKbn impairment ratio

SEKbn 2020 2021 2022 2023 2021-2023, %

Large Corporates & Institutions 293.7 9.0 3.9 1.8 5.0

Swedish Banking 1 233.7 3.9 3.9 2.8 0.9

Estonia 89.3 1.0 0.4 0.4 2.1

Latvia 64.4 0.9 0.4 0.3 2.4

Lithuania 39.3 0.8 0.2 0.1 3.1

Total 1 720.4 15.6 8.9 5.4 1.7

Credit impairments per segment

EAD Acc. Credit

SEKbn impairment ratio

SEKbn 2020 2021 2022 2023 2021-2023, %

Shipping and offshore 19.5 1.7 0.5 0.5 14.0

Hotels and restaurants 8.9 0.6 0.5 0.1 13.6

Finance and insurance 26.9 1.2 0.5 0.2 6.8

Retail 39.9 1.7 0.7 0.4 6.8

Manufacturing 60.1 1.8 1.2 0.6 5.9

Professional services 24.5 0.6 0.4 0.2 4.9

Other corporate lending 17.3 0.3 0.3 0.2 4.6

Construction 28.0 0.8 0.4 0.1 4.4

Transportation 16.1 0.4 0.1 0.1 3.6

Private other 51.1 0.7 0.5 0.2 2.7

Property management 264.3 3.6 1.9 1.3 2.6

Information and communication 18.7 0.3 0.1 0.1 2.5

Public sector and utilities 45.8 0.4 0.2 0.2 1.7

Agriculture, forestry, fishing 66.0 0.4 0.2 0.2 1.1

Tenant owner associations 94.1 0.1 0.1 0.1 0.4

Private mortgage 939.4 1.1 1.2 1.1 0.4

Total 1 720.4 15.6 8.9 5.4 1.7

1) EAD without credit institutions

Credit Impairments

Credit Impairments

54

Liquidity and Funding

Liquid assets, the Liquidity Coverage Ratio and Liquidity RatiosQ3, 2021

Group Liquidity Reserve

SEKm Total SEK EUR USD Other

Level 1 assets 825 599 322 629 356 493 128 997 17 480

Cash and balances with central banks 1)

646 315 171 834 346 058 126 365 2 057

Securities issued or guaranteed by sovereigns, central banks, MDBs and intl. org. 136 102 124 227 7 338 2 632 1 905

Securities issued by municipalities and PSEs 3 695 3 159 2 535

Extremely high quality covered bonds 39 487 23 409 3 095 12 983

Level 2 assets 14 889 9 089 4 493 0 1 307

Level 2A assets 4 660 3 206 147 1 307

Securities issued or guaranteed by sovereigns, central banks, municipalities and PSEs

High quality covered bonds 4 633 3 206 120 1 307

Corporate debt securities (lowest rating AA-) 27 27

Level 2B assets 10 229 5 883 4 346

Asset-backed securities

High quality covered bonds

Corporate debt securities (rated A+ to BBB-) 703 66 637

Shares (major stock index) 9 526 5 817 3 709

Total liquid assets (unadjusted market value) 840 488 331 718 360 986 128 997 18 787

LCR adjustments (haircuts) according to LCR DR2)

8 578

High Quality Liquid Assets 831 910

1) Minimum reserve requirements held in Central Banks of Estonia, Latvia, Lithuania and Bank of Finland are excluded from Liquid Assets.

2) Adjusted value according to Article 9 of Commission Delegated Regulation (EU 2015/61).

Liquidity Coverage Ratio (LCR) 3)


SEKm 2021 2021 2021 2020 2020

HQLA, Level 1 822 834 767 953 626 377 482 025 541 092

HQLA, Level 2 9 076 8 162 11 706 8 536 14 215

High Quality Liquid Assets 831 910 776 115 638 083 490 561 555 306

Retail deposits and deposits from small business customers 52 090 50 415 48 648 47 852 46 750

Unsecured wholesale funding 461 891 441 120 315 992 200 763 294 059

Secured wholesale funding 5 388 4 713 6 987 8 632 6 243

Additional requirements 66 232 66 456 64 802 69 477 56 567

Other cash outflows 19 398 19 850 24 706 3 310 17 046

Total Cash Outflows 605 000 582 554 461 135 330 034 420 664

Secured lending 2 453 2 437 2 964 4 361 8 033

Inflows from fully performing exposures 22 301 18 876 19 386 18 932 22 823

Other cash inflows 22 798 19 330 25 544 24 987 26 368

Total Cash Inflows 47 552 40 643 47 894 48 280 57 223

LCR, % 149 143 154 174 153

LCR, EUR, % 228 198 268 263 241

LCR, USD, % 165 153 159 145 164

LCR, SEK, % 112 115 112 134 121

3) LCR calculated in accordance with Commission Delegated Regulation (EU) 2018/1620.

Liquidity ratiosQ3, 2021

Net Stable Funding Ratio (NSFR) 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

2021 2021 2021 2020 2020

NSFR, %1)

124 123 123 125 124

Available Stable Funding, SEKm 1 642 641 1 605 176 1 616 476 1 652 303 1 642 142

Required Stable Funding, SEKm 1 328 311 1 308 168 1 316 805 1 316 918 1 325 509

Liquidity reserve ratio, % 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

2021 2021 2021 2020 2020

Liquidity reserve in relation to maturing funding 2)

liquidity reserve 3 months 211 243 244 356 255



Currency distribution

1) NSFR calculated in accordance with Regulation (EU) 2019/876.

2) Issued debt and net of lending and borrowing to/from credit institutions (net Interbank) within 3, 6 and 12 months.

55


Q3, 2021

Group 30 Sep 30 Jun 31 Mar 31 Dec 30 SepSEKm 2021 2021 2021 2020 2020

Commercial papers and certificates of deposits 387 450 317 880 244 709 127 209 158 302

Covered bonds 413 766 445 690 459 764 471 491 514 109

Senior unsecured bonds 112 672 113 186 120 161 128 437 136 129

Structured retail bonds 4 372 4 677 5 428 5 677 6 436

Total debt securities in issue 918 260 881 433 830 062 732 814 814 976


Subordinated liabilities 28 134 23 699 24 005 23 434 24 924

of which undated subordinated loans, Additional Tier 1 capital (AT1) 13 181 8 787 8 891 8 535 9 270

of which subordinated loans, Tier 2 capital (T2) 14 953 14 912 15 114 14 899 15 654

Total debt securities in issue, senior non-preferred liabilities and subordinated

liabilities 983 576 939 746 874 281 766 607 850 778

Q3 Q2 Q1 Q4 Q3

Turnover during the period 2021 2021 2021 2020 2020

Commercial papers and certificates of deposits

Opening balance 317 880 244 709 127 209 158 302 185 191

Issued 113 847 163 269 165 315 91 368 111 327

Repaid -47 724 -85 687 -57 138 -116 501 -135 191

Changes in exchange rates 3 446 -4 412 9 317 -5 945 -2 845

Interest 1 1 6 -15 -180

Closing balance 387 450 317 880 244 709 127 209 158 302

Covered bonds

Opening balance 445 690 459 764 471 491 514 109 541 144

Issued 13 224 7 652 15 491 3 188 2 907

Repurchased -2 987 -6 163 -9 426 -4 988 -14 182

Repaid -42 814 -13 285 -19 937 -32 287 -17 389

Change in market values or in hedged item in hedge accounting at fair value

-943 -993 -2 367 -966 -330

Changes in exchange rates 858 -2 072 3 685 -8 484 990

Interest 738 786 827 919 969

Closing balance 413 766 445 690 459 764 471 491 514 109

Senior unsecured bonds

Opening balance 113 186 120 161 128 437 136 129 136 140

Issued 2 881 264 6 380 9 655

Repaid -4 982 -5 193 -19 921 136 -12 013

Change in market values or in hedged item in hedge accounting at fair value 52 540 115 -585 186

Changes in exchange rates 1 559 -2 612 4 916 -7 628 1 780

Interest -24 26 234 385 381

Closing balance 112 672 113 186 120 161 128 437 136 129

Structured retail bonds

Opening balance 4 677 5 428 5 677 6 436 6 754

Issued

Repaid -224 -616 -503 -909 -182

Change in market values or in hedged item in hedge accounting at fair value -81 -135 254 150 -136

Interest

Closing balance 4 372 4 677 5 428 5 677 6 436


Opening balance 34 614 20 214 10 359 10 878 10 837

Issued 2 581 14 449 9 958

Repaid 4 -3 -2 -64 -31

Change in market values or in hedged item in hedge accounting at fair value 83 126 -239 12 180

Changes in exchange rates -36 -125 164 -488 -102

Interest -64 -47 -26 21 -6

Closing balance 37 182 34 614 20 214 10 359 10 878

Additional Tier 1 capital (AT1)

Opening balance 8 787 8 891 8 535 9 270 9 787

Issued 4 326

Repaid -245 -6 -246 -256

Change in market values or in hedged item in hedge accounting at fair value 122 21 76 -53 -59

Changes in exchange rates 211 -119 405 -1 342 -396

Interest -20 0 121 916 -62

Closing balance 13 181 8 787 8 891 8 535 9 270

Tier 2 capital (T2)

Opening balance 14 912 15 114 14 899 15 654 15 634

Issued

Repaid -106 -144 -17

Change in market values or in hedged item in hedge accounting at fair value 27 32 29 1 139 -1 138

Changes in exchange rates -35 -85 232 -944 36

Interest 154 -148 -47 -806 1 139

Closing balance 14 953 14 912 15 114 14 899 15 654

Weighted average maturity of wholesale funding Q3 Q2 Q1 Q4 Q3

(months) 2021 2021 2021 2020 2020

Total (incl. commercial papers and certificates of deposits) 20 21 23 25 25

of which long-term funding 33 32 33 33 34

of which covered bonds 34 33 34 35 35

of which senior unsecured 19 22 24 22 25

of which senior non-preferred 62 65 62 47 50

of which additional tier 11) 46 24 27 30 33

of which tier 21) 20 23 26 29 32

1) Maturity date according to call date

Debt securities in issue, senior non-preferred liabilities

and subordinated liabilities

56


Issued long-term debt, by currencyQ3, 2021

Issued long-term debt - distribution by currency Q3 Q2 Q1 Q4 Q3

Nominal amount, SEKm 2021 2021 2021 2020 2020

Covered bonds

SEK 13 224 7 652 15 491 3 188 3 176

EUR

Other

Senior unsecured

SEK 2 000 500

EUR 539 253

USD 6 380 9 155

Other 382

Senior non-preferred

SEK 500

EUR 224 10 720 7 678

Other 1 554 4 126 2 280

Additional tier 1

USD 4 359

Total 22 782 22 751 31 829 3 188 12 831

57

Liquidity and FundingMaturity distribution, long-term fundingQ3, 2021

Nominal amount, SEKm

Domestic

covered bonds 1)

International

covered bonds 1)

Senior

unsecured

bonds 1)

Senior non-

preferred 1)2)

Structured

retail bonds 1)

Additional

tier 12)3)

Tier 22)3)

Total

Q4 2021 9 050 5 914 401 15 365

Q1 2022 12 241 30 282 203 504 4 387 47 617

Q2 2022 85 534 2 879 790 358 89 561

Q3 2022 10 166 7 624 164 17 954

Q4 2022 5 767 10 068 278 6 608 22 721

Q1 2023 55 577 657 2 000 235 58 469

Q2 2023 1 118 14 198 352 2 691 18 359

Q3 2023 10 267 14 666 230 5 083 30 246

Q4 2023 22 300 409 22 709

Q1 2024 6 353 7 089 464 13 906

Q2 2024 10 775 1 192 560 12 527

Q3 2024 55 400 712 143 4 387 60 642

Q4 2024 407 603 10 383 349 11 742

Q1 2025 1 088 84 1 172

Q2 2025 34 750 13 947 11 319 47 60 063

Q3 2025 915 2 791 3 706

Q3 2025 2 348 2 3482026 - 22 302 37 984 1 599 27 008 4 387 392 93 672Grand Total 275 863 126 674 110 135 37 594 4 578 13 161 14 774 582 779

1) Including intra-group holdings.

2) Not included in debt securities in issue, in the balance sheet.

3) Maturity date according to call date.

FX distribution

Nominal amount, SEKm SEK EUR USD GBP Other Total

Q4 2021 1 001 1 779 12 585 15 365

Q1 2022 2 254 20 209 17 768 7 386 47 617

Q2 2022 86 642 1 230 1 689 89 561

Q3 2022 164 17 790 17 954

Q4 2022 778 11 944 4 731 5 268 22 721

Q1 2023 58 062 407 58 469

Q2 2023 4 052 2 236 8 774 3 297 18 359

Q3 2023 230 20 433 8 774 809 30 246

Q4 2023 22 709 22 709

Q1 2024 6 613 712 6 581 13 906

Q2 2024 560 11 030 937 12 527

Q3 2024 55 543 712 4 387 60 642

Q4 2024 349 8 031 3 362 11 742

Q1 2025 84 1 088 1 172

Q2 2025 34 797 25 266 60 063

Q3 2025 1 750 915 1 041 3 706

Q3 2025 2 348 2 3482026 - 24 302 56 356 4 440 4 140 4 434 93 672Grand Total 299 890 182 486 50 724 21 456 28 223 582 779

58

Liquidity and FundingOutstanding benchmark bonds, commercial papers and certificates of depositsQ3, 2021

SEK benchmark covered bonds (tap issuance)

ISIN code

Outstanding, nominal amount, 1)

Loan 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

SEKm number Coupon, % Maturity date 2021 2021 2021 2020 2020

SE0007525654 SPI 191 1.00 2022-06-15 85 534 85 734 87 400 96 400 96 400

SE0010133207 SPI 192 1.00 2023-03-15 48 652 48 652 48 652 48 652 48 652

SE0011167782 SPI 192 FRN 3mStib. + 95bps 2023-03-15 6 925 6 925 6 925 6 925 6 925

SE0011089622 SPI 193 1.00 2023-12-20 22 300 22 300 22 300 21 900 21 900

SE0012142206 SPI 194 1.00 2024-09-18 53 800 49 800 49 800 49 800 49 800

SE0013050630 SPI 194 FRN 3mStib. +90bps 2024-09-18 1 600 1 600 1 600 1 600 1 600

SE0013546066 SPI 195 1.00 2025-06-18 34 750 31 950 31 450 26 450 23 400

SE0015244991 SPI 196 1.00 2026-03-18 22 300 16 300 9 400

SE0016828529 SPI 197 1.00 2027-03-17 2

1) Including intra-group holdings.

Non-SEK benchmark covered bonds

ISIN code

Issued, nominal amount, millions Currency Coupon, % Trade date Maturity date Issuance Spread Issued amount

XS1200837836 EUR 0.375 2015-03-04 2022-03-11 MS + 45 bps 1 000

XS1550140674 EUR 0.125 2017-01-09 2022-07-18 MS - 3 bps 1 000

XS1778322351 EUR 0.45 2018-02-15 2023-08-23 MS - 10 bps 1 000

XS1606633912 EUR 0.4 2017-04-26 2024-05-08 MS - 6 bps 1 000

XS2002504194 EUR 0.05 2019-05-20 2025-05-28 MS + 54.5 bps 1 250

XS1946788194 EUR 0.5 2019-01-29 2026-02-05 MS + 66.1 bps 1 000

XS1530835336 GBP 1.125 2016-11-30 2021-12-07 G + 65 bps 550

Benchmark senior unsecured bonds

ISIN code

Issued, nominal amount, millions Currency Coupon, % Trade date Maturity date Issuance Spread Outstanding amount

XS1239401216 EUR 1.000 2015-05-21 2022-06-01 MS + 45 bps 750

XS1573958409 EUR 0.300 2017-02-24 2022-09-06 MS + 18 bps 750

XS1711933033 EUR 0.250 2017-10-30 2022-11-07 MS + 7 bps 500

XS1870225338 EUR 0.400 2018-08-20 2023-08-29 MS + 18 bps 500

XS2167002521 EUR 0.750 2020-04-24 2025-05-05 MS + 98 bps 1 000

XS1689549217 GBP 1.250 2017-09-19 2021-12-29 G + 76 bps 500

XS1844104437 GBP 1.625 2018-06-18 2022-12-28 G + 80 bps 400

XS1577360784 (US87020PAH01) USD 2.800 2017-03-06 2022-03-14 T + 80 bps 1 000

XS1577762583 (US87020PAJ66) USD 3mUSDLibor + 70 bps 2017-03-06 2022-03-14 3mUSDLibor + 70 bps 500

XS2182121405 (US87020PAK30) USD 1.300 2020-05-26 2023-06-02 T + 112.5 bps 1 000

XS2237318485 (US87020PAL13) USD 0.600 2020-09-17 2023-09-25 T + 45 bps 1 000

XS2317119969 (US87020PAM95) USD 0.850 2021-03-18 2024-03-18 T + 55 bps 750

XS2198236734 JPY 0.369 2020-06-26 2023-07-06 YOS + 35 bps 10 300

XS2198237039 JPY 0.423 2020-06-26 2025-07-04 YOS + 40 bps 10 700

AU3FN0034229 AUD 3mBBSW + 118 bps 2017-02-08 2022-02-17 3mBBSW + 118 bps 350

Benchmark senior non-preferred bonds

ISIN code

Issued, nominal amount, millions Currency Coupon, % Trade date Maturity date Issuance Spread Outstanding amount

XS2063261155 EUR 0.250 2019-10-02 2024-10-09 MS + 70 bps 750

XS2282210231 EUR 0.20 2021-01-12 2028-01-12 MS + 63 bps 750

XS2343563214 EUR 0.3 2021-05-20 2027-05-20 MS + 63 Bps 1 000

XS2350031048 GBP 1.375 2021-06-08 2027-12-08 G + 100 Bps 350

Outstanding commercial papers and certificates of deposits

Outstanding, nominal amount


SEKm Limit 2021 2021 2021 2020 2020

Swedbank AB

European CP/CD EUR 10bn 114 448 89 708 59 530 55 159 15 876

USCP/Yankee CD USD 20bn/USD 20bn 273 005 228 175 185 183 72 050 142 426

of which initial maturity > 1 year 6 142 5 153 1 090 1 229 2 721

Domestic CP SEK 80bn

Total, Group 387 453 317 883 244 713 127 209 158 302

Outstanding amount

Outstanding volumes

59


Minimum Requirement of Own Funds and

Eligible Liabilities (MREL)Q3, 2021

Recapitalisation Amount (RCA) SEKm

RCA Requirement 1)

68 423

Total Eligible Liabilities to meet RCA 108 082

RCA Buffer 39 659

MREL1)

% of Total Liabilities and Own Funds2)

MREL1)

6.2%

Total Own Funds and Eligible Liabilities to meet MREL 9.9%

MREL buffer 3.7%

Breakdown of Eligible Liabilities to meet RCA SEKm % of REA

Senior non-preferred 37 684 5.4%

Senior preferred 70 324 10.0%

Deposits 74 0.0%

Total Eligible Liabilities to meet RCA 108 082 15.4%

Breakdown of Own Funds and Eligible Liabilities to meet MREL SEKm % of TLOF

Eligible Liabilities 108 082 4.0%

Own Funds 158 682 5.9%

of which CET1 capital 129 867 4.8%

of which AT1 capital 13 094 0.5%

of which T2 capital 15 721 0.6%

Total Own Funds and Eligible Liabilities to meet MREL 266 765 9.9%

1) As set by the Swedish National Debt Office, effective as of 23 Dec 2020.

2) Based on preliminary closing TLOF figures.

60

Liquidity and FundingMaturity distribution, total balance sheet and distribution in SEK

Q3, 2021

Maturity distribution, Swedbank Group, 30 Sep 2021

SEKm

Payable on

demand <1 m 1-3 m 3-6 m 6-12 m 1-2 y 2-5 y 5-10 y >10 yrs.

Discount

effect/ no

maturity Total

Assets

Cash and balances with central banks 651 869 651 869

Loans to credit institutions 3 421 18 144 2 240 2 685 3 012 4 813 5 554 174 1 399 41 442

of which repurchase agreements 3 524 3 524

Loans to the public 291 53 409 44 410 37 256 95 386 136 405 240 042 147 175 948 711 -1 853 1 701 232


Sovereign, municipalities etc. 4 039 164 161 576 4 462 2 300 1 006 489 -6 13 191

Private 5 352 9 458 11 580 23 118 37 221 86 274 116 266 826 454 577 1 116 300

Corporate 291 44 018 34 788 25 515 71 692 94 722 151 468 29 903 121 768 -2 424 571 741

Interest bearing securities 115 951 871 13 969 10 059 9 610 38 651 15 480 1 517 451 206 559

Treasury bills and other bills eligible for refinancing 113 533 25 8 470 1 515 2 149 6 463 6 445 845 161 139 606

Bonds and other interest-bearing securities 2 418 846 5 499 8 544 7 461 32 188 9 035 672 290 66 953

Financial assets for which the customers bear the investment risk 7 101 96 199 709 1 558 2 865 5 104 20 902 42 927 123 893 301 258

Shares and participating interest 33 394 33 394

Derivatives 5 913 9 149 3 082 5 022 8 580 42 899 63 604 17 322 -117 348 38 223

Other assets 24 091 6 054 1 981 24 054 56 180

Total 662 682 313 707 63 433 60 531 116 344 164 512 348 048 269 360 1 092 842 -61 302 3 030 157

Liabilities

Amounts owed to credit institutions 33 194 83 848 4 736 30 83 24 065 10 177 156 133


Deposits and borrowings from the public 1 167 550 120 419 11 827 8 187 8 730 568 593 43 4 1 317 921


of which deposits covered by the deposit guarantee 617 982

Sovereign, municipalities etc. 60 627 14 031 3 871 519 587 84 94 42 4 79 859

Private 611 580 5 026 7 402 7 369 7 934 423 453 1 640 188

Corporate 495 343 101 362 554 299 209 61 46 597 874

Financial liabilities for which the customers bear the investment risk 3 433 94 137 752 1 627 3 075 5 468 21 802 44 975 126 871 302 140

Debt securities in issue 136 934 164 604 85 454 163 684 113 888 224 193 15 168 17 311 -2 976 918 260

Commercial papers and CDs 136 559 154 993 47 993 43 474 4 431 387 450

Covered bonds 306 9 273 14 436 99 836 76 398 188 161 13 569 16 626 -4 839 413 766

Other bonds 69 338 23 025 20 374 33 059 36 032 1 599 685 1 863 117 044

Senior non-preferred liabilities 11 077 26 406 201 -502 37 182

Derivatives 3 780 6 719 2 442 3 410 7 602 41 400 63 699 15 669 -119 815 24 906

Subordinated liabilities 14 382 13 552 200 28 134

Other liabilities 44 297 24 508 829 1 162 4 685 1 193 2 178 2 170 -179 80 843

Equity 164 638 164 638

Total 1 204 177 483 415 213 146 98 569 180 144 156 276 310 435 166 851 175 778 41 366 3 030 157

Maturity distribution regarding SEK items, 30 Sep 2021

SEKm

Payable on


Discount

effect/ no

maturity Total

Assets


Loans to credit institutions 245 3 703 1 058 1 530 2 224 3 349 3 942 16 051


Loans to the public 28 038 32 178 27 428 67 123 81 904 148 441 116 446 899 706 -3 850 1 397 414


Sovereign, municipalities etc. 3 842 41 61 291 133 95 21 323 -6 4 801

Private 3 499 7 521 8 848 17 690 27 317 62 930 90 638 778 057 -1 420 995 080

Corporate 20 697 24 616 18 519 49 142 54 454 85 416 25 787 121 326 -2 424 397 533

Interest bearing securities 114 296 243 7 402 8 010 5 335 27 805 11 523 1 164 342 176 120

Treasury bills and other bills eligible for refinancing 113 514 4 212 1 204 396 3 319 5 778 770 157 129 350

Bonds and other interest-bearing securities 782 243 3 190 6 806 4 939 24 486 5 745 394 185 46 770

Total 172 079 146 037 33 479 36 360 77 357 90 588 180 188 127 969 900 870 -3 508 1 761 419

Liabilities

Amounts owed to credit institutions 27 793 17 909 45 702


Deposits and borrowings from the public 821 845 22 614 2 913 2 114 693 290 314 850 783


Sovereign, municipalities etc. 44 804 1 945 46 749

Private 438 797 1 415 2 850 2 056 680 286 306 446 390

Corporate 338 244 19 254 63 58 13 4 8 357 644

Debt securities in issue 85 1 084 2 428 89 026 63 682 146 916 720 1 156 -2 006 303 092

Covered bonds 16 848 2 059 88 603 58 284 142 784 720 1 156 -2 801 291 670

Other bonds 69 236 369 423 5 398 4 132 795 11 422

Senior non-preferred liabilities 506 506

Subordinated liabilities 1 200 17 1 217

Total 849 638 40 608 3 997 4 542 89 719 63 972 147 736 1 920 1 156 -1 989 1 201 300

FX-related derivatives net -79 454 -174 450 -65 619 -43 437 -15 324 -6 378 -6 756 220 -391 199

In the summary of maturities, undiscounted contractual cash flows are distributed on the basis of remaining maturities until the agreed time of maturity. For lending to the public, amortising loans are distributed based on

amortisation schedules. Liabilities whose contracts contain a prepayment option have been distributed based on the earliest date on which repayment can be demanded. The difference between the nominal amount and

carrying amount, the discount effect, is presented in the column “No maturity date/discount effect”. This column also includes items without an agreed maturity date and where the anticipated repayment date has not been

determined.

61


Maturity distribution in EUR and USDQ3, 2021

Maturity distribution regarding EUR items, 30 Sep 2021

SEKm

Payable on


Discount

effect/ no

maturity Total

Assets



of which repurchase agreements 463 463

Loans to the public 6 854 9 584 8 247 24 069 36 292 67 291 30 140 48 926 231 404

Sovereign, municipalities etc. 188 119 87 261 396 1 202 985 166 3 403

Private 1 366 1 904 2 676 5 278 9 492 22 885 25 587 48 325 117 514

Corporate 5 300 7 562 5 484 18 530 26 404 43 204 3 568 435 110 487

Interest bearing securities 1 157 573 4 213 1 011 2 453 4 202 3 269 306 0 17 185

Treasury bills and other bills eligible for refinancing 19 15 3 618 291 1 406 1 554 554 74 7 532

Bonds and other interest-bearing securities 1 139 558 595 719 1 047 2 649 2 715 231 0 9 653

Total 351 955 18 168 10 371 12 555 25 144 38 833 71 620 33 501 49 232 0 611 379

Liabilities

Amounts owed to credit institutions 3 011 17 794 2 30 20 24 036 10 177 55 072

Deposits and borrowings from the public 304 016 18 123 7 254 5 698 7 665 260 268 43 4 343 331

Sovereign, municipalities etc. 15 464 10 770 2 555 519 587 84 94 42 4 30 119

Private 167 484 3 450 4 331 5 043 6 932 119 136 1 0 187 496

Corporate 121 068 3 903 369 136 146 57 38 0 0 125 716

Debt securities in issue 26 193 33 181 25 258 32 875 24 395 57 941 13 937 15 719 -1 154 228 344

Commercial papers and CDs 26 075 31 233 13 825 5 144 87 76 364

Covered bonds 118 1 846 10 924 11 202 12 854 45 371 12 840 15 414 -1 951 108 618

Other bonds 102 508 16 529 11 541 12 569 1 098 305 710 43 362

Senior non-preferred liabilities 7 819 18 725 -569 25 974


Total 307 027 62 109 40 437 30 986 40 560 48 691 76 205 44 395 15 723 -1 567 664 567

FX-related derivatives net -43 441 22 957 32 358 14 859 9 938 5 982 4 740 178 47 570

Maturity distribution regarding USD items, 30 Sep 2021

SEKm

Payable on


Discount

effect/ no

maturity Total

Assets



Loans to the public 386 860 1 488 2 746 4 386 13 237 584 62 23 750

Sovereign, municipalities etc.

Private 2 7 3 9 12 31 39 62 165

Corporate 384 854 1 485 2 737 4 374 13 206 545 23 585

Interest bearing securities 439 1 776 219 270 7 18 1 2 731

Treasury bills and other bills eligible for refinancing 548 263 2 0 813

Bonds and other interest-bearing securities 439 1 228 219 6 6 18 1 1 918

Total 127 226 1 103 929 3 323 3 037 4 864 13 350 666 1 429 1 155 929

Liabilities

Amounts owed to credit institutions 654 29 900 1 777 36 28 32 395


Sovereign, municipalities etc. 325 1 316 1 316 2 957

Private 3 797 136 192 245 281 15 10 4 677

Corporate 23 696 78 199 81 103 48 0 102 126

Debt securities in issue 103 896 107 046 46 722 35 491 13 208 15 360 9 56 -62 321 726

Commercial papers and CDs 103 896 107 046 33 340 35 491 4 431 -62 284 142

Covered bonds 2 2 5 9 56 -18 55

Other bonds 13 381 8 774 15 355 19 37 529


Total 28 471 213 446 110 412 47 071 35 857 13 251 15 371 9 13 216 -45 477 059

FX-related derivatives net 141 094 120 007 33 016 24 222 7 092 93 -281 230 325 474

62

Asset encumbranceQ3, 2021

Assets, Carrying amount (balance sheet items)

SEKm Encumbered Unencumbered Total

Loans on demand 652 033 652 033

Equity instruments 25 464 25 464

Debt securities 26 915 179 235 206 150

of which high-quality liquid assets 26 915 157 946 184 861

Loans and advances other than loans on demand 478 099 1 288 973 1 767 072

of which mortgage loans 464 322 857 268 1 321 590

Other assets 1)

78 920 78 920

Total assets 505 014 2 224 625 2 729 639

Collateral received, Fair value (Off-balance sheet items) Available for

SEKm Encumbered encumbrance

Loans on demand

Equity instruments 3 301 3 301

Debt securities 39 283 25 358 64 641

of which high-quality liquid assets 39 283 21 956 61 239

Loans and advances other than loans on demand 13 935 13 935Other collateral received 728 728

Total collateral received 39 283 43 322 82 605

Purpose for encumbrance (On- and off-balance sheet items) 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

Assets and collateral received, SEKm 2021 2021 2021 2020 2020

Carrying amount of selected financial liabilities 516 434 557 319 599 670 629 073 665 286

of which Derivatives 16 501 17 543 19 574 31 615 25 208

of which Deposits 95 232 101 788 126 547 134 940 144 834

of which Debt securities issued 404 701 437 988 453 549 462 518 495 244

Other sources of encumbrance 26 364 25 032 24 724 21 638 23 558

Total 542 798 582 351 624 394 650 711 688 844

Purpose for encumbrance (On- and off-balance sheet items) 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

Matching liabilities, contingent liabilities or securities lent, SEKm 2021 2021 2021 2020 2020

Carrying amount of selected financial liabilities 512 847 554 489 597 981 625 733 664 058

of which Derivatives 15 502 16 326 18 654 30 490 24 389

of which Deposits 92 643 100 175 125 778 132 725 144 426

of which Debt securities issued 404 701 437 988 453 549 462 518 495 244

Other sources of encumbrance 5 835 4 764 4 672 1 677 3 724

Total 518 682 559 253 602 653 627 410 667 782

Unencumbered assets - available for pledging at Central Bank 2) 3)


SEKm 2021 2021 2021 2020 2020

Government debt instruments 15 403 22 040 14 614 13 627 18 937

Central banks and supranational debt instruments 117 879 112 598 81 600 119 001 95 569

Covered bonds 45 443 48 534 47 470 48 731 55 684

Debt instruments issued by credit institutions 508 428 227 433 907

Securities issued by corporate and other issuers 960 964 1 158 392 846

ABS

Mortgage loans 582 685 536 539 500 670 456 805 417 669

Total 762 878 721 103 645 739 638 989 589 612

1) Assets not eligible for pledging in central banks (e.g. intangible assets) and cash on hand.

2) Including repos.

3) Market values before haircut.

Total

63


Cover pool dataQ3, 2021


Cover pool 1)

- Sweden 100% 2021 2021 2021 2020 2020 2020 2020 2019 2019

Total assets in the cover pool, SEKm 2)

1 047 006 1 033 629 1 022 617 1 018 014 1 011 513 1 005 695 994 349 989 843 990 325

Number of borrowers 1 072 186 1 073 744 1 075 543 1 079 813 1 084 492 1 087 251 1 088 272 1 092 884 1 101 420

Number of properties 726 178 727 293 728 239 730 917 733 642 735 512 735 984 738 893 744 054

Average loan size, SEK 643 765 638 394 634 696 632 096 628 632 625 731 621 053 617 316 615 425

Number of loans outstanding 1 626 381 1 619 109 1 611 192 1 610 538 1 609 072 1 607 233 1 601 070 1 603 462 1 609 172

Over-collateralisation level, percent 135.9 116.9 103.8 88.1 76.2 69.1 77.7 76.9 77.4

Average seasoning 73 months 73 months 73 months 72 months 72 months 71 months 71 months 70 months 69 months

Type of loans in the pool, per cent

Residentials 93.0 92.9 92.7 92.7 92.5 92.5 92.5 92.3 92.2

of which Single-family housing 58.5 58.3 58.1 57.8 57.5 57.2 57.1 57.0 56.8

of which Tenant owner rights 22.5 22.4 22.2 22.2 22.1 22.1 22.0 21.9 21.7

of which Tenant owner associations 7.5 7.7 7.8 8.0 8.2 8.4 8.6 8.7 8.9

of which Multi-family housing 4.5 4.5 4.6 4.7 4.7 4.8 4.8 4.7 4.8

Public 3)

0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.6

Commercial 1.1 1.1 1.2 1.2 1.2 1.1 1.1 1.2 1.2

Forestry & Agriculture 5.5 5.6 5.7 5.7 5.8 5.9 5.9 6.0 6.0

Supplemental assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Loan-to-value (LTV), per cent

Weighted Average LTV (property level) 47 48 49 49 50 51 51 50 51

Single-family housing 46 49 49 49 50 52 51 51 51

Tenant owner rights 55 55 56 56 58 59 58 58 59

Tenant owner associations 30 31 31 32 32 33 33 34 35

Multi-family housing 49 50 50 51 51 51 50 52 52

Commercial 48 48 49 50 50 50 49 50 51

Forestry & Agriculture 43 44 48 44 43 45 44 44 44

Public 3)

n/a n/a n/a n/a n/a n/a n/a n/a n/a

Weighted Average LTV distribution 3)

4)

LTV %

00-10 26.0 25.1 24.6 24.7 24.3 23.8 23.8 24.0 23.8

10-20 22.7 22.1 21.7 21.7 21.4 21.2 21.3 21.4 21.2

20-30 18.8 18.5 18.3 18.3 18.2 18.0 18.1 18.2 18.1

30-40 14.3 14.5 14.6 14.6 14.6 14.6 14.6 14.7 14.6

40-50 9.6 10.1 10.3 10.4 10.5 10.7 10.7 10.6 10.8

50-60 5.8 6.3 6.6 6.6 6.7 6.9 6.8 6.7 6.8

60-70 2.5 3.0 3.4 3.3 3.6 3.9 3.8 3.7 3.8

70-75 0.3 0.4 0.5 0.4 0.7 0.9 0.9 0.7 0.9

100 100 100 100 100 100 100 100 100

LTV calculation

1) Type of pool: Dynamic.

2) Loans originated by Swedbank and the independent savings banks under a specific cooperation agreement.

3) Public loans are guaranteed either by a Swedish municipality or the state and have therefore no LTV assigned to them.

4) As defined by the Association of Swedish Covered Bond Issuers (www.ascb.se).

The calculation of the weighted average loan-to-value (WA LTV) for Swedbank's cover pool follows the method defined by the Association of Swedish Covered Bond Issuers

(ASCB). In Sweden, one property can be financed with more than one mortgage. The ASCB LTV definition accounts for the highest LTV among all issued mortgages against

a specific property.

Public loans are not backed by property collateral, but rather government guarantees, and are hence not part of the LTV calculations.

The presentation of the LTV distribution accounts for the total volume of mortgages within each LTV bracket. E.g. a loan with a LTV of 50% is sliced and accounted for in

equal parts, in all LTV brackets up to 50%.

For more detailed description of the ASCB LTV definition, please visit www.ascb.se.

When calculating eligible loan amounts in the cover pool, the value component of the LTV is adjusted upwards only when a price increase can be statistically verified and only

limited to certain single family properties. Statistically verified property price declines are however always taken into account, on all property types, when calculating eligible

loan amounts in the cover pool.

64


Cover pool data. cont.Q3, 2021


Geographical distribution. Sweden. per cent 2021 2021 2021 2020 2020 2020 2020 2019 2019

North 7.0 7.0 6.9 6.9 6.9 6.9 6.8 6.8 6.8

Norrbotten county (BD) 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

Västerbotten county (AC) 2.5 2.5 2.4 2.4 2.4 2.4 2.4 2.4 2.4

Västernorrland county (Y) 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8

Jämtland county (Z) 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.2 1.2

Middle (including Stockholm) 43.8 43.7 43.7 43.8 43.8 43.9 44.0 44.0 43.8

Dalarna county (W) 2.1 2.1 2.0 2.1 2.1 2.1 2.0 2.0 2.0

Gävleborg county (X) 2.2 2.2 2.2 2.1 2.1 2.1 2.1 2.1 2.1

Värmland county (S) 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0

Örebro county (T) 2.5 2.4 2.4 2.4 2.5 2.5 2.5 2.5 2.5

Västmanland county (U) 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3

Uppsala county ( C) 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1

Södermanland county (D) 1.8 1.8 1.9 1.9 2.0 2.0 2.0 2.0 2.0

Stockholm county (including Stockholm) (AB) 26.8 26.8 26.8 26.9 26.7 26.8 27.0 27.0 26.8

South (including Göteborg and Malmö) 49.2 49.3 49.4 49.3 49.3 49.2 49.2 49.2 49.4

Västra götaland county (Including Göteborg) (O) 17.8 17.9 18.0 18.0 18.0 17.9 18.0 18.0 18.0

Östergötland county (E) 4.5 4.5 4.5 4.5 4.5 4.5 4.4 4.4 4.4

Jönköping county (F) 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.5 3.5

Halland county (N) 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.2

Kronoberg county (G) 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2

Kalmar county (H) 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9

Skåne county (including Malmö) (M) 12.0 12.0 12.0 11.9 11.9 11.9 11.9 12.0 12.1

Blekinge county (K) 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

Gotland county (I) 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7

100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Interest rate fixing. per cent

Fixed interest rate period <= 90 days 43 45 47 49 52 52 55 55 58

Fixed interest rate period >1Y with reset <=1Y 17 16 15 13 11 12 11 12 9

Fixed interest rate period >1Y with reset >1Y 40 39 38 38 37 36 34 33 33

Repayment structure. property level. per cent

Amortising 76 69 68 68 68 68 74 73 73

Interest only 24 31 32 32 32 32 26 27 27

Seasoning structure. year of origination 1) 2021 2020 2019 2018 2017 2016 2015 2014 <2013

% of total cover pool 11 12 11 10 9 8 6 5 28

Collateral ranking 2)

as % of total cover pool LTV distributed

Total 0-10% 10-20% 20-30% 30-40% 40-50% 50-60% 60-70% 70-75%

No prior ranks 97.7 25.8 21.9 18.2 14.0 9.4 5.7 2.4 0.3

Prior ranks 2.3 0.5 0.7 0.5 0.3 0.2 0.1 0.0 0.0

Total 100.0 26.3 22.6 18.7 14.3 9.6 5.8 2.4 0.3

Loans past due < 60 days 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

as % of the total cover pool 3) 2021 2021 2021 2020 2020 2020 2020 2019 2019

Total 0-60 days 0.01 0.02 0.13 0.15 0.02 0.02 0.16 0.18 0.02

of which 0-30 days 0.00 0.00 0.11 0.13 0.00 0.00 0.14 0.16 0.00

of which 31-60 days 0.01 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02

Covered bonds 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep2021 2021 2021 2020 2020 2020 2020 2019 2019

AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa

443 792 476 482 501 895 541 248 574 010 594 564 559 538 559 454 558 125

Weighted average maturity 32 months 31 months 33 months 33 months 34 months 36 months 36 months 37 months 39 months

FX distribution. percent SEK 66 68 70 69 71 69 69 69 68

EUR 31 29 27 28 26 28 26 26 27

USD 0 0 0 0 0 0 1 1 1

Other 3 3 3 3 3 3 4 4 4

Cover pool sensitivity analysis

Current -5% -10% -15% -20% -25% -30% -35% -40%

Total assets in the cover pool 1 047 006 1 044 411 1 039 586 1 030 409 1 016 314 997 246 973 192 944 003 909 318

Total outstanding covered bonds 443 792 443 792 443 792 443 792 443 792 443 792 443 792 443 792 443 792

Over-collateralisation level. percent 135.9 135.3 134.3 132.2 129.0 124.7 119.3 112.7 104.9

1) Percentage refers to number of loans paid out each year.

3) Loans past due > 60 days are not eligible for the cover pool.

4) FX-rate as per trade date; Gross outstanding amount. i.e. including intra-group holdings.

Rating of the covered bond programme

(S&P / Moody's)

Total outstanding amount. nominal SEKm 4)

House price decline. SEKm

2) ”No prior ranks” indicates that the loan will be repaid out of the collateral proceeds in the event of a forced sale, prior to any other claim secured by a contractual

pledge over the same collateral being repaid. ”Prior ranks” indicates that there are other claims secured by a contractual pledge over the same collateral which will

be repaid prior to the loan. Please note that under Swedish law there are restrictions regarding expansion of prior ranks at the expense of claims with subsequent

65


Swedbank Mortgage AB, loan dataQ3, 2021


100% Swedish assets 2021 2021 2021 2020 2020 2020 2020 2019 2019

Loans to the public net, SEKm 1)

1 079 608 1 067 458 1 056 478 1 053 488 1 047 658 1 041 025 1 030 575 1 028 382 1 029 093

Number of borrowers 1 076 687 1 078 099 1 079 818 1 084 663 1 089 146 1 091 967 1 093 038 1 098 172 1 106 587

Number of properties 729 822 730 813 731 773 734 764 737 383 739 331 739 816 743 082 748 173

Average loan size 657 485 652 620 648 928 646 918 643 711 640 461 636 028 633 631 631 754

Number of loans outstanding 1 642 026 1 635 652 1 628 036 1 628 473 1 627 529 1 625 432 1 620 330 1 622 998 1 628 947

Type of loans, per cent

Residentials 93.4 93.3 93.2 93.1 93.1 92.9 92.9 92.8 92.7

of which Single-family homes 58.4 58.2 58.1 57.7 57.7 57.2 57.2 57.1 56.9

of which Tenant-owner rights 22.7 22.6 22.4 22.4 22.3 22.3 22.2 22.0 21.8

of which Tenant-owner associations 7.9 8.0 8.1 8.3 8.5 8.7 8.8 9.0 9.2

of which Multi-family housing 4.4 4.5 4.6 4.7 4.6 4.7 4.7 4.7 4.8

Public 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.5

Commercial 1.1 1.1 1.1 1.2 1.1 1.1 1.1 1.1 1.1

Forestry & Agriculture 5.2 5.3 5.4 5.4 5.5 5.6 5.6 5.7 5.7

Loan-to-value (LTV) 2)

, per cent

Weighted average LTV (property level) 49 50 51 51 52 53 53 52 53

Single-family housing 48 50 51 51 52 54 54 53 53

Tenant owner rights 58 58 59 59 61 61 61 61 62

Tenant owner associations 31 32 32 33 33 33 33 35 35

Multi-family housing 50 51 51 51 51 51 51 52 53

Commercial 49 49 49 50 50 50 50 51 52

Forestry & Agriculture 44 45 49 45 43 46 45 45 45

Public 3)

n/a n/a n/a n/a n/a n/a n/a n/a n/a

Weighted Average LTV distribution

(property level)

LTV %

00-10 25.4 24.5 24.0 23.7 23.6 23.1 23.2 23.3 23.1

10-20 22.2 21.6 21.3 21.2 20.9 20.7 20.7 20.9 20.7

20-30 18.5 18.2 18.0 18.0 17.8 17.7 17.7 17.8 17.7

30-40 14.2 14.4 14.4 14.5 14.4 14.4 14.4 14.5 14.4

40-50 9.6 10.0 10.3 10.4 10.5 10.7 10.7 10.7 10.8

50-60 5.9 6.4 6.7 6.8 6.9 7.0 7.0 6.9 7.0

60-70 3.0 3.5 3.7 3.8 4.0 4.2 4.1 4.0 4.1

70-80 1.0 1.2 1.4 1.4 1.7 1.9 1.9 1.7 1.9

80-90 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.2 0.3

90-100 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

>100 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0


Loans past due, per cent 2021 2021 2021 2020 2020 2020 2020 2019 2019

Loans past due as % of total net loans to the public

Total 0.05 0.05 0.16 0.18 0.05 0.06 0.19 0.22 0.06

of which 0-60 days 0.02 0.03 0.14 0.15 0.02 0.03 0.16 0.18 0.02

of which >60 days 0.03 0.02 0.02 0.03 0.03 0.03 0.03 0.04 0.04

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

Impairments and provisions, SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Credit impairments net -60 -67 -26 -32 29 79 32 -24 -42

Stage 3 loans -20 -12 -8 13 6 5 9 -15 -14

Credit impairment provisions 438 430 468 493 556 603 557 527 517

of which credit impairment provisions Stage 1 39 46 51 56 83 95 66 44 51



1) Nominal amount

2) LTV calculation method - see cover pool, page 64

3) Public loans are guaranteed either by a Swedish municipality or the state and have therefore no LTV assigned to them.

66

Liquidity and FundingCredit and Sustainability RatingsQ3, 2021

Moody's S&P Fitch

Covered bonds Aaa AAA -

Senior preferred Aa3 A+ AA-

Senior non-preferred Baa1 A- A+

Tier 2 Baa2 BBB+ A-

Additional Tier 1 Ba1 BBB- BBB

Short-term P-1 A-1 F1+

Outlook S S P

P=positive, S=stable, N=negative and WN= Watch Negative

Rating actions and comments during Q3 2021

Swedbank AB rating history - long-term credit rating

Sustainability ratings

Rating

Dow Jones Sustainability Index1)

81

ISS ESG C (Prime)

MSCI ESG AA

Sustainalytics ESG Risk Rating 24.8

S&P Assigned ESG Evaluation score 75

1) Swedbank is included in DJSI World since 2020.

Fitch revised the outlook on Swedbank to Positive

67

Key figures

Key figures, 5-yearsQ3, 2021

YTD FY FY FY FY FY

Key figures, Group 2021 2020 2019 2018 2017 2016

Profit

Return on equity, % 13.5 8.9 14.7 16.1 15.1 15.8

Return on total assets, % 0.75 0.48 0.79 0.84 0.79 0.82

Cost/Income ratio 0.43 0.54 0.43 0.38 0.39 0.38

Net interest margin, % 1)

0.93 1.01 1.06 1.02 1.03 1.01

Business Volumes SEKbn

Loans to the public excl. repos & SNDO 1 653 1 616 1 606 1 578 1 502 1 453

Deposits to the public excluding repos & SNDO 1 300 1131 954 920 847 782

Loan/Deposit ratio, % 127 143 168 172 177 186

Asset quality

Credit impairment ratio, % 0.02 0.26 0.09 0.03 0.08 0.09

Total credit impairment provision ratio, % 0.35 0.48 0.40 0.37

Share of Stage 3 loans, gross, % 0.40 0.62 0.82 0.69

Share of impaired loans gross, % 0.55 0.52

Capital

Common Equity Tier 1 ratio, %, Basel 3 18.5 17.5 17.0 16.3 24.6 25.0

Leverage ratio, %, Basel 3 4.88 5.10 5.36 5.10 5.20 5.40

Risk exposure amount, SEKm, Basel 3 703 220 689 594 649 237 637 882 408 351 394 135

Risk exposure amount/total assets, %, Basel 3 23 27 27 28 18 18

Liquidity & Funding

Liquidity coverage ratio (LCR) 2)

149 174 182 144 171 155

Net stable funding ratio (NSFR) 3)

124 125 120 111 110 108

Share of issued debt > 1 year, % 42 66 66 76 71 69

Share data

Earnings per share before dilution, SEK 14.30 11.55 17.62 18.96 17.38 17.60

Earnings per share after dilution, SEK 14.26 11.51 17.56 18.89 17.30 17.50

Cash dividend per ordinary share, SEK 4)

2.90 4.35 14.20 13.00 13.20

Equity

Shareholders Equity, average SEKm 158 190 146 045 133 999 131 445 127 756 123 302

1) Net interest margin before trading interest are deducted.

2) LCR - calculated in accordance with Commission Delegated Regulation (EU) 2018/1620 amending Delegated Regulation (EU) 2015/61

to supplement Regulation (EU) 575/2013.


4) Cash dividends are in the table above reported under the profit year and not the year the dividend was determined and paid out.

The Board of Directors proposal FY 2019 was updated from 8,80 to 4,35 2021-01-18 with the pay out date 2021-02-22.


68

Key figures

Key figures, 9 quartersQ3, 2021

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

Key figures, Group 2021 2021 2021 2020 2020 2020 2020 2019 2019

Profit

Return on equity, % 13.6 14.2 12.8 11.8 14.3 13.5 -4.8 13.0 14.1

Return on total assets, % 0.74 0.77 0.72 0.68 0.77 0.71 -0.26 0.72 0.75

Cost/Income ratio 0.42 0.42 0.44 0.47 0.41 0.40 0.92 0.46 0.46

Net interest margin, % 1)

0.89 0.94 0.96 0.97 1.00 1.01 1.05 1.05 1.06

Business Volumes SEKbn

Loans to the public excl. repos & SNDO 1 653 1 637 1 621 1 616 1 622 1 625 1 632 1 606 1 613

Deposits to the public excluding repos & SNDO 1 300 1 282 1 216 1 131 1 132 1 108 1 046 954 957

Loan/Deposit ratio, % 127 128 133 143 143 147 156 168 168

Asset quality

Credit impairment ratio, % 0.00 -0.01 0.06 0.12 0.10 0.28 0.51 0.23 0.04

Total credit impairment provision ratio, % 0.35 0.34 0.36 0.48 0.53 0.56 0.52 0.40 0.38

Share of Stage 3 loans, gross, % 0.40 0.42 0.47 0.62 0.75 0.81 0.79 0.82 0.77

Capital

Common Equity Tier 1 ratio, %, Basel 3 18.5 18.5 18.0 17.5 16.8 16.4 16.1 17.0 16.3

Leverage ratio, %, Basel 3 4.88 4.80 4.80 5.10 4.76 4.48 4.70 5.36 5.12

Risk exposure amount, Basel 3 703 220 688 517 694 625 689 594 691 535 692 352 691 107 649 237 656 530

Liquidity & Funding

Liquidity coverage ratio (LCR) 2)

149 143 154 174 153 164 162 182 151

Net stable funding ratio (NSFR) 3)

124 123 123 125 124 125 116 120 112

Share of issued debt > 1 year, % 42 40 57 66 62 65 62 66 68

Share data

Earnings per share before dilution, SEK 4.90 4.96 4.44 4.03 4.70 4.33 -1.51 3.96 4.17

Earnings per share after dilution, SEK 4.89 4.95 4.43 4.01 4.68 4.31 -1.50 3.95 4.16

Equity

Shareholders Equity, average SEKm 162 201 156 560 154 992 152 706 147 207 143 118 140 737 135 968 132 026

1) Net interest margin before trading interest are deducted.

2) LCR - calculated in accordance with Commission Delegated Regulation (EU) 2018/1620 amending Delegated Regulation (EU) 2015/61 to supplement Regulation (EU) 575/2013.


69

Sustainable financing

Sustainable financing

Q3, 2021

Green asset register

Green asset register 1)

Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEKm 2021 2021 2021 2020 2020 2020 2020 2019 2019

Energy efficiency-Green buildings 2)

35 715 34 142 15 372 13 632 13 633 13 407 11 199 11 541 12 846

Renewable energy 2 223 2 265 2 594 2 730 2 409 2 266 2 444 2 417 1 967

Sustainable forestry 580 644 613 563

Waste management 1 166 1 160 1 174 1 154 1 096 991 813 Clean transportation 257 265 266 265 282 285 306

Total, Green asset register 39 941 38 476 20 019 18 344 17 420 16 949 14 762 13 958 14 813

1) Qualified green loans according to Swedbank’s green bond framework.

2) Existing green mortgages amounting to 18 036 SEKm were included in the register from Q2 2021.

Environmental impact 20202020 2019 2018

Environment impact indicator

Avoided emissions (tCO2e) 589 547 434 678 481 863

Green buildings - energy savings (GWh) 19 13 9

Renewable energy - energy production (GWh) 1 831 1 725 1 495

Waste management - processed waste (tonnes) 150 000

Sustainable forestry - FSC/PEFC certified forest area (ha) 26 740

Clean transportation - public transit million passenger km 94

70

Equity and Assets

Equity & Assets, monthlyQ3, 2021

2021

Jan Feb Mar Apr May Jun Jul Aug Sep

Equity attributable to shareholders

of the parent company 157 083 153 974 153 742 155 655 157 474 159 369 161 410 163 413 164 612

Allocated Equity

Swedish Banking 67 107 64 032 63 933 64 733 64 894 64 423 64 709 64 642 64 270

Baltic Banking 24 034 24 771 24 136 24 086 23 686 24 420 24 503 24 708 24 761

LC&I 32 409 32 506 33 332 33 703 33 801 32 375 31 618 31 408 30 418

Group Functions 33 532 32 666 32 342 33 133 35 092 38 149 40 581 42 654 45 163

Total Assets 2 778 737 2 797 098 2 829 566 2 790 044 2 858 345 2 939 377 2 968 314 3 056 264 3 030 158

2020

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


of the parent company 140 747 142 062 141 530 142 478 144 069 144 394 145 865 148 005 150 564 151 743 153 349 155 168

Allocated Equity

Swedish Banking 63 830 66 263 67 069 67 223 67 257 68 219 68 639 68 860 67 578 67 799 67 707 66 816

Baltic Banking 25 994 29 219 27 408 25 991 23 874 25 599 25 360 26 673 26 129 25 522 22 838 24 307

LC&I 26 155 30 178 30 086 34 269 33 616 34 193 33 706 33 125 33 728 32 998 33 088 32 941

Group Functions 24 768 16 404 16 967 14 995 19 322 16 384 18 161 19 346 23 129 25 423 29 716 31 104

Total Assets 2 571 665 2 675 584 2 675 469 2 709 468 2 767 538 2 764 863 2 729 187 2 725 708 2 695 751 2 709 376 2 693 699 2 594 643

2019




Allocated Equity

Swedish Banking 63 175 65 670 65 420 64 746 64 826 65 205 65 588 64 525 64 950 64 643 64 701 64 630

Baltic Banking 24 386 25 464 25 219 25 939 25 677 25 654 25 713 26 352 25 770 26 017 23 902 25 476

LC&I 25 434 26 324 27 333 27 477 28 229 28 673 27 108 27 407 27 656 26 995 27 440 27 761

Group Functions 26 432 23 748 8 413 10 587 11 860 9 872 13 040 15 224 15 368 17 769 20 054 20 741

Total Assets 2 582 156 2 581 629 2 462 361 2 520 124 2 537 398 2 480 054 2 525 268 2 613 892 2 506 522 2 571 458 2 529 052 2 408 228

2018




Allocated Equity

Swedish Banking 57 671 61 401 61 740 61 173 61 562 62 020 62 337 62 532 62 762 63 072 63 307 63 116

Baltic Banking 20 955 25 750 22 876 23 113 23 317 23 310 23 084 23 063 23 311 23 390 23 191 23 404

LC&I 23 010 24 663 24 523 24 265 25 892 26 092 27 194 27 132 27 446 26 085 26 199 25 054

Group Functions 31 617 23 410 13 405 16 240 15 313 16 646 16 946 19 494 20 161 23 021 24 358 25 823

Total Assets 2 501 186 2 501 695 2 469 126 2 658 949 2 526 129 2 646 033 2 765 798 2 654 134 2 461 664 2 502 054 2 447 421 2 246 092

2017




Total Assets 2 435 674 2 526 637 2 488 685 2 506 082 2 529 654 2 426 121 2 398 970 2 466 011 2 459 875 2 629 575 2 520 785 2 212 636

2016




Total Assets 2 311 245 2 449 707 2 403 789 2 431 126 2 482 495 2 476 014 2 500 883 2 497 773 2 393 743 2 419 025 2 414 740 2 154 203

2015




Total Assets 2 381 759 2 408 041 2 274 529 2 411 009 2 446 041 2 299 199 2 410 610 2 474 981 2 311 516 2 441 493 2 409 077 2 148 855

2013 2014

Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


of the parent company 109 540 110 773 112 096 102 323 104 213 105 749 107 631 109 556 111 046 111 420 113 334 114 515 117 203

Total Assets 1 824 102 1 951 889 2 005 283 1 922 183 2 064 470 2 146 350 2 051 743 2 113 722 2 163 903 2 078 473 2 243 049 2 203 079 2 121 297

71

Market sharesMarket sharesQ3, 2021

Balance Net growth

30 Sep 31 Dec 31 Dec 31 Dec 31 Dec YTD FY FY FY FY

Market shares, % 2021 2020 2019 2018 2017 2021 2020 2019 2018 2017

Sweden

Loans, private 1)

(Aug 2021) 21 21 22 23 23 13 12 8 17 18

of which mortgage loans (Aug 2021) 23 23 24 24 24 16 15 12 22 20

Deposits, private 3)

(Aug 2021) 19 19 19 20 20 19 16 4 18 16

Life insurance, new premiums 2)

(Jun 2021) 6 6 5 5 5

Life insurance, premium paid 2)

(Jun 2021) 7 6 6 6 6

Mutual funds 21 21 20 20 21 4 18 7 16 neg.

Loans, corporate 1) 3)

(Aug 2021) 16 16 17 18 18 6 neg. 3 12 neg.

Deposits, corporate 3)

(Aug 2021) 16 16 16 18 17 9 16 3 25 13

Bank Giro, transactions (Jun 2021) 35 34 35 36 36

Estonia

Loans, private 1) 5)

(Aug 2021) 43 43 44 47 46 44 36 42 46 43

of which mortgage loans (Aug 2021) 44 45 45 46 46 31 37 50 48 45

Deposits, private 5)

(Aug 2021) 51 51 50 55 55 51 56 14 54 56

Pensions, private 5)

(Aug 2021) 40 41 41 42 42 36 36 39 43 44

Life insurance, total premium YTD (Jun 2021) 47 46 41 40 41

P&C Insurance, total premium YTD 6)

(Jun 2021) 17 19 19 19 16

Loans, corporate 1)

5)

(Aug 2021) 37 37 38 37 37 29 21 >100 65 >100

Deposits, corporate 5)

(Aug 2021) 43 44 45 45 43 neg. 40 43 >100 >100

Domestic Payments (Jun 2021) 57 58 58 59 59

International payments (Jun 2021) 11 10 14 19 19

Latvia

Loans, private 1)

(Jun 2021) 35 35 34 33 31 51 >100 67 neg. 34

of which mortgage loans (Jun 2021) 40 40 38 37 34 34 neg. >100 neg. 29

Deposits, private (Jun 2021) 36 34 32 34 32 62 59 7 >100 50

Pensions, private 41 41 41 42 42 42 44 37 44 42


P&C Insurance, total premium YTD (Jun 2021) 6 7 7 6 5

Loans, corporate 1)

(Jun 2021) 19 22 21 20 17 neg. 12 neg. neg. 6

Deposits, corporate (Jun 2021) 28 28 24 25 15 39 79 >100 neg. 6

Domestic Payments 4)

(Jun 2021) 55 55 54 55 51

International payments 4)

(Jun 2021) 34 34 33 34 24

Lithuania

Loans, private 1)

(Jun 2021) 40 40 39 35 34 41 51 >100 56 35

of which mortgage loans (Jun 2021) 39 39 38 35 33 38 41 >100 60 38

Deposits, private (Jun 2021) 44 44 43 43 40 47 49 47 62 46

Pensions, private (Jul 2021) 37 37 37 37 37 39 36 36 38 35


P&C Insurance, total premium YTD (Jun 2021) 4 5 4 4 4

Loans, corporate 1)

(Jun 2021) 22 22 23 20 18 12 24 neg. 45 90

Deposits, corporate (Jun 2021) 31 31 30 29 25 77 64 83 72 31

Domestic Payments (Jun 2021) 51 50 51 50 49

International payments 7)

(Jun 2021) 3 5 22 24 26

1) Excluding credit institutions, Swedish National Debt Office and repurchase agreements.

2) Rolling 12 months. Market shares are measured as premiums paid (excluding transfer of capital from other insurance companies).

3) Swedbank has updated the definitions of corporate lending and deposits in Sweden from Q2 2018. Corporate lending includes lending to non-financial corporations.

Corporate deposits includes deposits from non-financial corporations. Previous periods have been restated.


4) Changes in the definition of domestic and international payments were made in Q4 2018. Previous periods have been restated.

5) Definitions has been changed since 2019. Prior periods have not been restated.

6) Market shares are measured as gross written premiums (sum of all insurance payments during the lifespan of the policy).

7) From 2020 Swedbank market share is affected by Lithuania Central Bank giving the bank licences to other companies.

72

Swedbank by geographySwedbank Group by geographyQ3, 2021

Jan-Sep 2021, SEKm Sweden Estonia Latvia Lithuania

Nordic

countries

other 1)USA

Other and

eliminations 2)Total

Income statement

Total income 27 525 3 157 1 514 1 999 1 887 107 -1 048 35 141

Total expenses 11 959 1 280 925 1 092 775 25 -1 051 15 005

Profit before impairments 15 566 1 877 589 907 1 112 82 3 20 136

Impairments -467 97 54 26 521 70 -8 293

Profit before tax 16 033 1 780 535 881 591 12 11 19 843

Tax expense 3 214 246 106 159 73 4 4 3 806

Profit for the period 12 818 1 534 429 722 518 8 7 16 036

Non-controlling interests 1 1

Key figures


Return on allocated equity, % 13.9 20.4 9.4 11.1 7.5 1.4 3.6 13.5

Cost/Income ratio 0.43 0.41 0.61 0.55 0.41 0.23 1.00 0.43

Loan/Deposit ratio, % 154 78 59 51 558 3 268 127

Volumes

Loans to the public excluding repos & SNDO, SEKbn 1 400 90 37 65 57 2 2 1 653

Deposits from the public excluding repos & SNDO, SEKbn 910 115 63 128 10 74 0 1 300

Allocated equity, average SEKm 123 141 10 012 6 077 8 696 9 222 780 262 158 190

Full-time employees 9 209 2 510 1 874 2 458 355 13 19 16 438

1) Includes Denmark, Finland and Norway.

2) Includes China, Luxembourg, South Africa and Spain.

Jan-Dec 2020, SEKm Sweden Estonia Latvia Lithuania

Nordic

countries

other 1)USA

Other and

eliminations 2)Total

Income statement

Total income 35 432 4 238 2 022 2 841 2 291 109 -1 257 45 676

Total expenses 16 395 4 946 1 996 1 414 1 031 51 -1 273 24 560


Impairments 1 294 135 53 52 2 804 -15 13 4 336

Profit before tax 17 743 -843 -27 1 375 -1 544 73 3 16 780

Tax expense 3 949 318 146 224 -582 -203 -1 3 851

Profit for the period 13 794 -1 161 -173 1 151 -962 276 4 12 929

Non-controlling interests 0 0

Key figures


Return on allocated equity, % 12.4 -11.4 -2.8 13.1 -10.8 28.9 1.8 8.9

Cost/Income ratio 0.46 1.17 0.99 0.50 0.45 0.47 1.01 0.54

Loan/Deposit ratio, % 165 80 61 49 566 1 188 96 143

Volumes

Loans to the public excluding repos & SNDO, SEKbn 1 372 86 36 61 58 2 2 1 616

Deposits from the public excluding repos & SNDO, SEKbn 831 107 59 123 10 0 1 1 131

Allocated equity, average SEKm 110 946 10 151 6 089 8 780 8 904 955 220 146 045

Full-time employees 8 978 2 528 1 826 2 480 367 15 19 16 213

1) Includes Denmark, Finland and Norway.

2) Includes China, Luxembourg, South Africa, Spain and Russia.

73

EmployeesEmployeesQ3, 2021

30 Sep ∆ FTE's 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep

Number of full-time employees 2021 Q/Q 2021 2021 2020 2020 2020 2020 2019 2019

Sweden 3 952 56 3 896 3 919 3 928 3 875 3 758 3 625 3 554 3 575

Norway 1 1 1 1 1 1 3 4 4

Denmark 18 2 16 17 18 17 20 19 19 19

Other 1)

13 13 13 14 15 15 15 15 12

Swedish Banking 3 984 58 3 926 3 950 3 962 3 908 3 794 3 662 3 592 3 610

Estonia 1 465 5 1 461 1 485 1 482 1 468 1 480 1 441 1 452 1 456

Latvia 1 306 -14 1 320 1 297 1 286 1 264 1 264 1 252 1 247 1 218

Lithuania 1 477 -21 1 498 1 494 1 494 1 501 1 486 1 485 1 475 1 466

Sweden 3 1 2 3 3 4 4 3 4 4

Baltic Banking 4 251 -30 4 281 4 279 4 265 4 237 4 234 4 181 4 178 4 144

Sweden 1 565 11 1 554 1 515 1 488 1 462 1 459 1 412 1 377 1 367

Baltic countries 547 11 536 534 528 530 527 508 508 506

Norway 248 -5 253 254 257 249 245 253 255 252

Other 1)

98 -3 101 101 101 101 103 123 120 125

Large Corporate & Institutions 2 458 14 2 444 2 404 2 374 2 342 2 334 2 296 2 260 2 250

Sweden 3 689 34 3 655 3 630 3 559 3 461 3 355 3 241 3 196 3 114

Baltic countries 2 037 6 2 031 2 025 2 033 2 037 2 034 1 992 1 971 1 941

Norway 15 -1 16 17 18 19 19 17 18 16

Other 1)

4 1 3 3 3 3 3 3 3 3

Group Functions & Other 5 745 41 5 705 5 674 5 613 5 520 5 411 5 253 5 188 5 074

Total number of full-time employees 16 438 82 16 356 16 306 16 213 16 007 15 773 15 392 15 218 15 078

1) China, Denmark, Finland, Luxembourg, USA, and South Africa.

74

Currency distribution

Q3, 2021

Currency distribution, 30 Sep 2021

Swedbank Group

SEKm EUR USD GBP DKK NOK Other

Total

foreign

currency SEK Total

Assets

Cash and balances with central banks 350 904 126 368 626 2 056 81 480 035 171 834 651 869

Treasury bills and other bills eligible for refinancing with central banks 7 542 813 1 901 10 256 129 350 139 606

Loans to credit institutions 11 887 3 080 3 765 162 3 464 3 033 25 391 16 051 41 442

Loans to the public 231 404 23 750 2 704 5 105 38 755 2 100 303 818 1 397 414 1 701 232

Bonds and other interest–bearing securities 9 653 1 918 346 8 266 20 183 46 770 66 953

Other assets, not distributed 429 055 429 055

Total 611 390 155 929 6 469 6 239 54 442 5 214 839 683 2 190 474 3 030 157

Liabilities

Amounts owed to credit institutions 55 072 32 395 1 413 1 317 19 103 1 131 110 431 45 702 156 133

Deposits and borrowings from the public 343 331 109 760 2 752 1 874 6 084 3 337 467 138 850 783 1 317 921

Debt securities in issue 228 344 321 726 44 492 7 770 12 836 615 168 303 092 918 260

Senior Non-preferred liabilities 25 974 4 149 5 222 1 331 36 676 506 37 182


Other liabilities, not distributed 407 889 407 889Equity 164 638 164 638

Total 664 567 477 058 52 806 3 191 38 179 20 529 1 256 330 1 773 827 3 030 157

Other assets and liabilities,

including positions in derivatives 64 487 321 099 46 303 -3 040 -16 063 15 311 428 097

Net position in currency 11 310 -30 -34 8 200 -4 11 450


Exchange rates 2021 2021 2021 2020 2020 2020 2020 2019 2019

SEK/EUR, YTD average rate 10.147 10.135 10.137 10.476 10.558 10.634 10.697 10.558 10.557

SEK/EUR, Quarterly average rate 10.160 10.159 10.137 10.287 10.403 10.663 10.697 10.599 10.694

SEK/EUR, closing day rate 10.166 10.113 10.238 10.057 10.543 10.466 11.008 10.432 10.708

SEK/USD, YTD average rate 8.478 8.404 8.402 9.171 9.366 9.620 9.689 9.423 9.398

SEK/USD, Quarterly average rate 8.619 8.485 8.402 8.641 8.912 9.657 9.689 9.584 9.623

SEK/USD, closing day rate 8.774 8.517 8.724 8.190 9.000 9.326 10.044 9.320 9.817

Q3, 2021

Q3 2021/ Q3 2021/ YTD 2021/

Q3 2020 Q2 2021 YTD 2020

Income -31 1 -287

of which Baltic Banking -44 3 -271

of which LC&I 14 -1 -16

Expenses -18 1 -128



Profit before Credit impairments -13 -0 -159



Sep 2021/ Sep 2021/

Jun 2021 Sep 2020

Loans to the public 2.1 -7.7

of which Baltic Banking 1.0 -7.1

of which LC&I 1.1 -0.5

Deposit from the public 2.4 -11.0

of which Baltic Banking 1.6 -11.2

of which LC&I 0.9 0.2

Currency distribution and exchange rates

Impact from exchange rate fluctuations

SEKm

SEKbn

75

Sensitivity analysisSensitivity analysis and market riskQ3, 2021

Static Net Interest Income sensitivity analysis

Sep Jun Mar

2021 2021 2021

Increase interest rates, +100 bps 5 907 6 177 6 273

Decrease interest rates, -100 bps -4 391 -4 633 -4 825

Value-at-risk by risk category 1)

2021

SEKm 30 Sep Max Min Average

Interest risk 32 100 31 59

Currency rate risk 6 19 2 9

Stock price risk 7 10 2 4Diversification -12 -14

Total 33 98 46 58

Value-at-risk by risk category 1)

2020

SEKm 30 Sep Max Min Average

Interest risk 78 113 48 72

Currency rate risk 16 21 8 14

Stock price risk 10 11 3 6Diversification -27 -18

Total 77 112 54 74

1) Value-at-Risk (VaR) is a statistical measure used to quantify market risk. VaR is defined as the expected maximum decrease in value of a portfolio given a particular

probability over a certain time period.

Swedbank has made changes to the NII sensitivity calculation methodology. Starting from Q2 2020 money-market deposits are separated

from other deposits and assumed to have 100 elasticity to changes in market rates. Customer margins are taken into account while factoring

in reference rate floors on contract level.

Sensitivity analysis, net interest income, net annual effect

SEKm

Jan-Sep 2020

Jan-Sep 2021

The NII sensitivity calculation illustrates the annual effect on NII when market rates increase/decrease by 100 bps and all existing interest

fixings have rolled over. Contractual reference rate floors on floating loan contracts are taken into account in the sensitivity calculation, while

all other loans are assumed to have a 100 per cent elasticity to changes in the market rates, i.e. adjustments are made to the interest

received. Transaction accounts, except for money-market deposits, are assumed to have 0 per cent elasticity, i.e. there is no adjustment

made to the paid interest. All other deposits (including money-market deposits) are assumed to have a 100 per cent elasticity to changes in

the market rates.

76

Share dataShareholders and share dataQ3, 2021

Shareholders, 30 September 2021 SWED A % Shareholders, 30 September 2021, %

Sparbanksgruppen 127 506 478 11.3%

Folksam 78 049 094 6.9%

Alecta Pension Insurance 48 265 268 4.3%

Norges Bank 45 985 975 4.1%

Swedbank Robur Funds 40 769 981 3.6%

AMF Pension & Funds 40 683 803 3.6%

Sparbanksstiftelser – Ej Sparbanksgruppen 39 835 227 3.5%

BlackRock 36 686 723 3.2%

Vanguard 31 545 644 2.8%

T. Rowe Price 24 855 480 2.2%

10 largest owners 514 183 673 45.4

Other 617 822 049 54.6

Total 1 132 005 722 100.0

Number of shareholders: 344 149

Source: Modular Finance AB/Euroclear

Data per share Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3

SEK 2021 2021 2021 2020 2020 2020 2020 2019 2019

Earnings per share before dilution 4.90 4.96 4.44 4.03 4.70 4.33 -1.51 3.96 4.17

Equity per share 146.79 142.11 137.11 138.54 134.43 128.92 126.40 123.94 119.60

Price, end of period, Swedbank A 177.30 159.24 153.90 144.12 140.74 119.40 110.85 139.45 141.70

Price/Equity, % 121 112 112 104 105 93 88 113 118

Changes in subscribed capital 1)

Par value/

Year Transaction share SWED A SWED C SWED PREF

2011 Share repurchase -57 168 814 -1 500 000 -3 415 641 -62 084 455 24 383

2012 Conversion of

Preference shares to

Ordinary shares

1 595 660 -1 595 660 1 099 005 722 24 383

2012 Cancellation of

repurchased shares and

bonus issue

22 1 099 005 722 24 904

2012 Conversion of


Ordinary shares

8 532 853 -8 532 853 1 099 005 722 24 904

2013 Conversion of


Ordinary shares

180 855 906 -180 855 906 1 099 005 722 24 904

2014 Share delivery due to

Equity-settled share

based programmes

1 102 255 145 24 904

2014 Acquisition of own

shares for trading

purposes

1 102 088 934 24 904



based programmes

1 105 237 539 24 904

2015 Disposal of own shares

for trading purposes

1 105 403 750 24 904



based programmes

1 110 731 820 24 904



based programmes

1 113 629 621 24 904



based programmes

1 116 674 361 24 904



based programmes

1 118 304 389 24 904



based programmes

1 119 991 775 24 904



based programmes

1 121 434 389 24 904

1) Associate's acquisition of shares in Swedbank AB has not been taken into account.

Change in

number of shares

outstanding SEKm

No. of

shares Share capital

Foreign owners39.8%

Swedish legal entities 48.1%

Swedish private persons 12.1%

100

120

140

160

180

200

SWEDBANK - share price 1 January 2021 - 30 September 2021

OMX-30 (Indexed to SWED A, NASDAQ OMX) Swedbank A (NasdaqOMX)

SEK

77

DefinitionsDefinitionsQ3, 2021

Capital Requirement Regulations, CRR, stated in EU Regulation No 575/2013. Others

Additional Tier 1 capital Allocated equity

Capital instruments and related share premium accounts that fulfill certain regulatory conditions after considering Allocated equity is the operating segment’s equity measure and is not a measure that is directly required by IFRS. The Group’s

regulatory adjustments. equity attributable to shareholders is allocated to each operating segment based on capital adequacy rules and estimated

capital requirements based on the bank’s internal Capital Adequacy Assessment Process (ICAAP).

Average risk weight

Total risk exposure amount divided by the total exposure value for a number of exposures. Cost/income ratio

Total expenses in relation to total income.

Common Equity Tier 1 capital

Capital consisting of capital instruments, related share premium accounts, retained earnings and other comprehensive income Credit Impairment

after considering regulatory adjustments. Established losses and provisions for the year less recoveries related to loans as well as the year’s net expenses

for guarantees and other contingent liabilities.

Common Equity Tier 1 capital ratio

Common Equity Tier 1 capital in relation to the total risk exposure amount. Credit impairment provision ratio Stage 1 loans

Credit impairment provisions Stage 1 in relation to the gross carrying amount Stage 1 loans

Default

Credit exposures are regarded to be in default if there has been an assessment indicating that the counterpart Credit impairment provision ratio Stage 2 loans

is unlikely to pay its credit obligations as agreed or if the counterpart is past due more than 90 days. Credit impairment provisions Stage 2 in relation to the gross carrying amount Stage 2 loans

Expected loss (EL) Credit impairment provision ratio Stage 3 loans

Expected loss shall provide an indication of the mean value of the credit losses that Swedbank may reasonably be expected Credit impairment provisions Stage 3 in relation to the gross carrying amount Stage 3 loans

to incur. The expected loss (EL) is the product of the parameters PD, LGD and exposure value.

Credit Impairment ratio

Exposure at default (EAD) Credit impairment on loans and other credit risk provisions (annualised), net, in relation to the opening balance of

Exposure at default (EAD) measures the utilised exposure at default. For off-balance sheet exposures, EAD is loans to credit institutions and loans to public after provisions. More information see page 43.

calculated by using a credit conversion factor (CCF) estimating the future utilisation level of unutilised amounts.

Earnings per share after dilution

Exposure value IRB Profit for the period allocated to shareholders in relation to the weighted average number of shares outstanding

The exposure after taking into account credit risk mitigation with substitution effects during the period, rights issue adjustment factor included, adjusted for the dilution effect of potential shares.

and credit conversion factors, the exposure value is the value to which the risk weight is applied when calculating the

risk exposure amount. Earnings per share before dilution

Profit for the period allocated to shareholders in relation to the weighted average number of shares outstanding

Leverage ratio during the period, rights issue adjustment factor included.

Tier 1 capital in relation to the total exposure measure, where the exposure measure includes both on- and off-balance sheet items.

Equity per share

Liquidity Coverage Ratio (LCR) Shareholders’ equity in relation to the number of shares outstanding.

The LCR is used to define a quantitative regulatory requirement on European banks' liquidity risk.

A LCR ratio above 100 per cent implies that the bank has enough of liquid assets to cover its net liquidity Loan/Deposit ratio

outflows over a 30 calendar day time horizon under a significantly severe liquidity stress scenario. Lending to the public excluding Swedish National Debt Office and repurchase agreements in relation to

deposits from the public excluding Swedish National Debt Office and repurchase agreements.

Loss given default (LGD)

Loss given default (LGD) measures how large a proportion of the exposure amount that is expected to be lost in the event of default. Interest fixing period

Contracted period during which interest on an asset or liability is fixed.

Minimum capital requirement

The minimum capital a bank must hold for its credit, market, credit value adjustment, settlement and operational risks according Maturity

to Pillar I, i.e. 8 per cent of total risk exposure amount. The time remaining until an asset or liability’s terms change or its maturity date.

Net Stable Funding Ratio (NSFR) Net investment margin before trading interest is deducted

The Net Stable Funding Ratio measures an institution's amount of available stable funding to its amount of required Net interest income before trading-related interest is deducted, in relation to average total assets.

stable funding over a one-year horizon. The objective is to require institutions to hold a sufficiently large proportion The average is calculated using month-end figures, including the prior year end.

of long-term stable funding in relation to long-term stable assets.

Return on allocated equity

Own funds Profit for the period (annualised) attributable to the shareholders for the operating segment,

The sum of Tier 1 and Tier 2 capital. in relation to average allocated equity for the operating segment.

The average is calculated using month-end figures, including the prior year end.

Probability of default (PD)

The probability of default (PD) indicates the risk that a counterparty or contract will default within a 12-month period. Return on equity

Profit for the period (annualised) attributable to shareholders, in relation to average equity attributable to

Risk exposure amount shareholders’ of the parent company. The average is calculated using month-end figures, including the prior year end.

Risk weighted exposure value i.e. the exposure value after considering the risk inherent in the asset.

Return on total assets

Tier 1 capital Profit for the period (annualised) in relation to average total assets. The average is calculated using

The sum of Common Equity Tier 1 capital and Additional Tier 1 capital according to article 25 in CRR. month-end figures, including the prior year end.

Tier 1 capital ratio Share of Stage 1 loans, gross

Tier 1 capital in relation to the total risk exposure amount. Carrying amount of Stage 1 loans, gross, in relation to the carrying amount of loans to credit institutions and the public

excluding provisions.

Tier 2 capital

Capital instruments and subordinated loans and related share premium accounts that fulfill certain regulatory conditions Share of Stage 2 loans, gross

after considering regulatory adjustments. Carrying amount of Stage 2 loans, gross, in relation to the carrying amount of loans to credit institutions and the public


Total capital ratio

Own funds in relation to the total risk exposure amount. Share of Stage 3 loans, gross

Carrying amount of Stage 3 loans, gross, in relation to the carrying amount of loans to credit institutions and the public


Total credit impairment provision ratio

Credit impairment provisions in relation to the gross carrying amount loans

Definitioner/ordlista på svenska finns på www.swedbank.se, under rubriken Finansiell information och publikationer

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Contacts and calendar

Contacts and financial calendarQ3, 2021

For further information, please contact:

+46 8 585 938 77

Investor Relations

+46 8 585 922 69

Henrik Asplund, Equity Investor Relations +46 704 33 66 40

Markus Sandgren, Equity Investor Relations +46 727 31 62 84

Peter Stenborn, Debt Investor Relations +46 8 585 909 30

Magnus Alvesson, Debt Investor Relations and Rating +46 8 585 933 41

Aikaterini Ploska, Investor Relations +46 8 585 943 19

Karolina Skog, Investor Relations, ESG +46 702 25 05 89

Investor Relations, e-mail [email protected]

Postal address: Visiting address:

Swedbank Landsvägen 40

SE-105 34 Stockholm, Sweden Sundbyberg, Sweden

Investor relations on the Internet:

This publication can be downloaded/accessed from Swedbank’s web-site:

www.swedbank.com/investor-relations/financial-information-and-publications/

Financial calendar

Extraordinary General Meeting 28 October 2021

Q4 2021 Interim report 2 February 2022

Annual report 23 February 2022

Annual General Meeting 30 March 2022

Q1 2022 Interim report 28 April 2022

Q2 2022 Interim report 19 July 2022

Anders Karlsson, CFO

Annie Ho, Head of Investor Relations

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mailto:[email protected]

http://www.swedbank.com/investor-relations/financial-information-and-publications/

Facts Q3, 2021

Documents

Transcript of Facts Q3, 2021