Company Overview of Swedbank AS
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
Key Executives for Swedbank AS
Chief Financial Officer, Head of Corporate Banking Division and Member of Board
Head of Private Banking Division and Member of The Board
Head of Credit Management Division and Member of The Board
Head of Retail Banking Division and Member of The Board
Managing Director of Russian Operations
Compensation as of Fiscal Year 2015.
Swedbank AS Key Developments
Swedbank Announces Earnings Results for the Nine Months Ended September 2015
Oct 20 15
Swedbank announced earnings results for the nine months ended September 2015. For the nine months, the company profit of EUR 19.8 million, 83% less than in the same period of 2014, as a result of bigger tax expenses connected to an extraordinary dividend payment made in the second quarter. Net interest income declined 0.2% in annual comparison mainly due to low interest rates. Compared with the previous quarter, interest income increased by 3.7%, supported by higher lending volumes and a longer quarter. Net commission income increased by 5.9% compared with the first nine months of 2014, driven by strong customer activity. Compared with the previous quarter, net commission income increased by 4.4%.
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.
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