Stockholm, Sweden – Swedbank, a leading Swedish lender, has announced impressive financial results for the third quarter of this year. The bank’s net profit rose to 9.12 billion Swedish kronor ($818 million), surpassing expectations and demonstrating strong growth.
Sharp Increase in Net-Interest Income
Swedbank reported a significant increase in net-interest income, which rose by 54% to SEK12.9 billion. This boost in revenue contributed to the bank’s exceptional performance.
Positive Outlook and Confidence
Despite declining margins, Swedbank is confident in its credit quality and maintains a positive outlook. The bank reaffirms its commitment to a conservative and thorough lending process, ensuring the safety and reliability of its operations.
Streamlining Organizational Structure
To achieve a sustainable return on equity of 15% from 2025 onwards, Swedbank is streamlining its organization. This strategic move aims to improve efficiency and deliver superior services to its valued customers.
Customer-Focused Approach
Swedbank plans to enhance customer satisfaction by creating a separate business area dedicated to the premium and private banking customer segment. Furthermore, the bank intends to transfer all corporate customers in Sweden who currently have an advisor to the corporates and institutions business area.
Strong Balance-Sheet Strength
With a common equity Tier 1 ratio of 18.7%, Swedbank demonstrates robust balance-sheet strength. This key measure reflects the bank’s solid financial position.
