Q1 2025 Swedbank AB Earnings Call Transcript
Key Points
- Swedbank AB (SWDBF) reported a strong return on equity of 15.2% and earnings per share of SEK7.26 for the first quarter.
- The bank maintains a robust capital position with a buffer of 4.5 percentage points, and Moody's upgraded its credit rating post-quarter.
- Swedbank AB (SWDBF) is the leader in mortgages across its home markets and continues to maintain its position despite tough competition.
- The bank's focus on sustainability is evident, with a growing Sustainable Asset Register and successful issuance of green bonds.
- Investments in technology and processes have improved customer service, with significant reductions in waiting times for phone inquiries.
- Net interest income declined due to lower market rates, fewer days in the quarter, and currency effects.
- Net commission income decreased, impacted by falling stock prices and seasonally lower activity in the car business.
- Corporate lending decreased slightly in the Baltic market, although demand for sustainable loans remains stable.
- The bank faces increased uncertainty due to geopolitical tensions and economic conflicts, impacting client behavior and risk appetite.
- Swedbank AB (SWDBF) is dealing with sector-specific taxes in its Baltic markets, which could impact its business strategy and profitability.
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Good morning, and thank you for dialing into Swedbank's first quarter results presentation. My name is Magnus Alvesson, Acting Head of Investor Relations. And I have with me here our CEO, Jens Henriksson; and our CFO, Jon Lidefelt. Jens and Jon will start with the presentation, and then, there will be an opportunity for questions.
Jens, I hand over to you.
Thank you, Magnus. Swedbank has once again delivered a strong result in uncertain times. We are creating value for our customers and shareholders, in both good and bad times. When I presented our results 3- months ago, I said that the global economy was weak, but that falling interest rates were cautiously beginning to have a positive impact on economic development. Since then, uncertainty has increased.
During the quarter, the European Central Bank and the Riksbank cut their policy rates, while the Federal Reserve held its rate unchanged.
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