Swedbank AS provides various banking and financial services to private, corporate, and organizational customers primarily in Estonia. It provides deposit products, such as term, savings, overnight, and investment deposits; loan and leasing products, including home loan and home equity loans, small loans, student loans, overdrafts, revolving credit lines, short term loans, loan against suretyship, investment loans, car leasing, car small loans, commercial vehicles leasing, equipment leasing, and full service heavy machinery leasing; credit and debit cards; and pension products. The company also offers trade finance services, including factoring, guarantee, letter of credits, documentary colle...
Founded in 1991
Swedbank as Opens Branch of Consultation Centre in Tartu
Jul 20 15
Swedbank AS announced that the company had opened a branch of its Centre in Tartu and have started renovation works in Jõhvi to open another one there in the beginning of next year 2016.
Swedbank Estonia Reports Earnings Results for the Second Quarter and First Six Months Ended June 2015
Jul 16 15
Swedbank Estonia reported earnings results for the second quarter and first six months ended June 2015. For the quarter, net interest income was EUR 45.1 million compared to EUR 46.1 million a year ago. Total income was EUR 72.8 million compared to EUR 72.7 million a year ago. Operating profit was EUR 48.2 million compared to EUR 49 million a year ago. Loss was EUR 58 million compared to EUR 40.9 million a year ago. Negative return on allocated equity was 26.4% compared to return on allocated equity of 17.1% a year ago.
Loss for the first six months of 2015 amounted to EUR 20.9 million compared to profit of EUR 80.3 million in the first six months of 2014. Operating profit for the first six months of 2015 amounted to EUR 91.9 million compared to EUR 94.3 million in the first six months of 2014. Loss occurred due to EUR 100 million higher tax expenses from extra dividend. Income increased compared to the previous year while expenses decreased due to continuous focus on efficiency. Net interest income decreased by 3% compared with the first half-year 2014. Low market interest rates pressured deposit margins. Compared to the previous quarter net interest income increased by 4% supported by higher lending volumes. Net commission income increased by 8% compared with the first half-year 2014 driven by strong customer activity. Compared with the previous quarter, net commission income increased by 12%, mainly from seasonally higher card and payment commissions. Net interest income was EUR 88.4 million compared to EUR 91.3 million a year ago. Total income was EUR 143.8 million compared to EUR 142.5 million a year ago. Negative return on allocated equity was 4.8% compared to return on allocated equity of 16.5% a year ago.
Swedbank AS Announces Earnings Results for the First Quarter of 2015
Apr 28 15
Swedbank AS announced earnings results for the first quarter of 2015. For the first three months of this year a net profit of €37.1 million which is 5.8% less than in the same period last year when profit totaled €39.4 million. Interest income decreased 4.3% on year, mainly as a result of low interest rates of deposits.