Swedbank's Year-end report 2024
Swedbank's President and CEO Jens Henriksson comments: "Swedbank once again delivers a strong result supported by timing effects."
- Income rose for the full-year
- The return on equity was 17.1 per cent for the full-year
- Strict cost control - the cost/income ratio for the full-year was 0.34
- Credit quality is solid
- Changed the Dividend Policy to between 60 and 70 per cent of the annual profit
- Proposed dividend for 2024 of 21 kronor and 70 öre per share, corresponding to 70 per cent of the profit
- New Investor Day before the summer
Financial information | Q4 | Q3 | Full-year | Full-year | ||
SEKm | 2024 | 2024 | % | 2024 | 2023 | % |
Total income | 18 634 | 19 146 | -3 | 74 104 | 73 057 | 1 |
Net interest income | 12 274 | 12 229 | 0 | 49 267 | 50 933 | -3 |
Net commission income | 4 285 | 4 286 | 0 | 16 716 | 15 088 | 11 |
Net gains and losses on financial items | 923 | 1 170 | -21 | 3 687 | 2 938 | 25 |
Other income¹ | 1 152 | 1 461 | -21 | 4 435 | 4 098 | 8 |
Total expenses | 6 740 | 5 986 | 13 | 25 376 | 24 100 | 5 |
of which administrative fines | 0 | 0 | -12 | 0 | 887 | -100 |
Profit before impairments, bank taxes and resolution fees | 11 894 | 13 160 | -10 | 48 728 | 48 957 | 0 |
Impairment of tangible and intangible assets | 757 | 0 | 790 | 87 | ||
Credit impairments | -394 | 271 | -268 | 1 674 | ||
Bank taxes and resolution fees | 858 | 1 012 | -15 | 4 019 | 3 574 | 12 |
Profit before tax | 10 673 | 11 876 | -10 | 44 187 | 43 622 | 1 |
Tax expense | 2 208 | 2 497 | -12 | 9 320 | 9 492 | -2 |
Profit for the period | 8 465 | 9 379 | -10 | 34 866 | 34 130 | 2 |
Earnings per share, SEK, after dilution | 7.50 | 8.30 | 30.86 | 30.27 | ||
Return on equity, % | 15.8 | 18.4 | 17.1 | 18.3 | ||
C/I ratio | 0.36 | 0.31 | 0.34 | 0.33 | ||
Common Equity Tier 1 capital ratio, % | 19.8 | 20.4 | 19.8 | 19.0 | ||
Credit impairment ratio, % | -0.08 | 0.06 | -0.01 | 0.09 | ||
1) Other income includes the items Net insurance, Share of profit or loss of associates and joint ventures, and Other income from the Group income statement. |
Contact:
Annie Ho, Head of Investor Relations, +46 70 343 78 15
Charlotte Nilsson, Press communicator, +46 76 534 66 12
This information constitutes inside information that Swedbank AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation (EU no596/2014). The information was submitted for publication, through the agency of the contact person set out above, January 23, 2025, at 07:00 CET.