Swedbank AB Series A

Swedbank provides financial services and products in its home markets of Sweden, Estonia, Latvia and Lithuania. Co. has four segments: Swedish Banking, which is responsible for all its Swedish customers except corporates and financial institutions; Large Corporates and Institutions, which is responsible for large corporates, financial institutions and banks as well as for trading and capital market products; Baltic Banking, which operates in Estonia, Latvia and Lithuania; and Group Functions and Other. At Dec 31 2013, Co. had 731 branches and 1,396 automated teller machines. Also as of such date, Co. had total assets of SEK1.82 trillion and deposits of SEK620.85 billion.
  • TickerSWED A
  • ISINSE0000242455
  • ExchangeNasdaq Nordic Stockholm
  • SectorBanks
  • CountrySweden

Analysts

ING
Suvi Platerink Kosonen

Nordic banks/Nordic safe haven, right?

We take a look at the Nordic bank fundamentals and relative value in senior and subordinated debt. The Swedish banks such as Handelsbanken, SEB and Swedbank exhibit solid profitability and robust capital generation capacity. Danske and Nordea lagged the Swedes in 1Q19. Please download the full report.

Derya Guzel

Morningstar | Swedbank Reports Decent 1Q 2019 Results, Carried by Equity Holdings

Swedbank reported first-quarter 2019 results of SEK 5.3 billion up 5% compared with the same period last year as higher net gains and losses on financial items more than offset higher expenses. Loan volumes showed continued growth albeit at a slower pace, especially in Sweden. Volumes increased SEK 63 billion to SEK 1,591 billion in total year-over-year, mostly owed to mortgage and corporate lending. Lower resolution fund fees in the quarter also helped net interest income generation, which came in 2% higher vis-à-vis last year. Net commission income was flat at SEK 3.1 billion as higher card ...

Derya Guzel

Swedbank Reports Decent 1Q 2019 Results, Carried by Equity Holdings

Swedbank reported first-quarter 2019 results of SEK 5.3 billion up 5% compared with the same period last year as higher net gains and losses on financial items more than offset higher expenses. Loan volumes showed continued growth albeit at a slower pace, especially in Sweden. Volumes increased SEK 63 billion to SEK 1,591 billion in total year-over-year, mostly owed to mortgage and corporate lending. Lower resolution fund fees in the quarter also helped net interest income generation, which came...

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Nicolas McBeath

Swedbank (Hold, TP: SEK160.00) - ROE likely past peak

We have cut our 2019–2021 EPS estimates by 2–3% mainly on higher costs, as Swedbank indicated SEK1bn of additional cost increases in 2019 mainly due to expanded AML efforts. While valuation is non-demanding, we think consensus is too optimistic on NII, and that Swedbank’s ROE peaked last year above 15% as we expect it to fall towards 13% by 2021. We reiterate our HOLD and SEK160 target price.

Swedbank AB: Update with year-end 2016 results

FINANCIAL INSTITUTIONS CREDIT OPINION 21 April 2017 Update RATINGS Swedbank AB Domicile Sweden Long Term Debt Aa3 Type Senior Unsecured - Fgn Curr Outlook Stable Long Term Deposit Aa3 Type LT Bank Deposits - Fgn Curr Outlook

Swedbank AB: Q4 2016 Results: Lending Volumes Boost Net Interest Income, Offsetting Headwinds From Negative Interest Rates

FINANCIAL INSTITUTIONS ISSUER COMMENT 3 February 2017 Analyst Contacts Andrea Usai 44-20-7772-1058 Senior Vice President [email protected] Louise Lundberg 46-8-5025-6568 VP-Sr Credit Officer [email protected] Aleksandar Hristov 44-20-7772-1071 Associate Analyst [email protected] Jean-Francois Tremblay 44-20-7772-5653 Associate Managing Director

Derya Guzel

Morningstar | Swedbank Reports Decent 1Q 2019 Results, Carried by Equity Holdings

Swedbank reported first-quarter 2019 results of SEK 5.3 billion up 5% compared with the same period last year as higher net gains and losses on financial items more than offset higher expenses. Loan volumes showed continued growth albeit at a slower pace, especially in Sweden. Volumes increased SEK 63 billion to SEK 1,591 billion in total year-over-year, mostly owed to mortgage and corporate lending. Lower resolution fund fees in the quarter also helped net interest income generation, which came in 2% higher vis-à-vis last year. Net commission income was flat at SEK 3.1 billion as higher card ...

Derya Guzel

Swedbank Reports Decent 1Q 2019 Results, Carried by Equity Holdings

Swedbank reported first-quarter 2019 results of SEK 5.3 billion up 5% compared with the same period last year as higher net gains and losses on financial items more than offset higher expenses. Loan volumes showed continued growth albeit at a slower pace, especially in Sweden. Volumes increased SEK 63 billion to SEK 1,591 billion in total year-over-year, mostly owed to mortgage and corporate lending. Lower resolution fund fees in the quarter also helped net interest income generation, which came...

Nicolas McBeath

Swedbank (Hold, TP: SEK160.00) - ROE likely past peak

We have cut our 2019–2021 EPS estimates by 2–3% mainly on higher costs, as Swedbank indicated SEK1bn of additional cost increases in 2019 mainly due to expanded AML efforts. While valuation is non-demanding, we think consensus is too optimistic on NII, and that Swedbank’s ROE peaked last year above 15% as we expect it to fall towards 13% by 2021. We reiterate our HOLD and SEK160 target price.

Nicolas McBeath

Swedish banks - Q1 2019 previews

Ahead of the Swedish banks’ Q1 reporting season, we have made fairly limited earnings revisions, but trimmed our target prices for all the banks due to recent dividend payments. We see downside risk to 2019-2021e consensus earnings expectations in particular for SHB and Swedbank as we expect further pressure on mortgage margins. We reiterate our BUYs on SEB and Nordea, HOLD on Swedbank and SELL on SHB.

Derya Guzel

Morningstar | Money Laundering Scandal at Swedbank Deepens; Offices Raided by Swedish Crime Unit

The frequency of negative headlines is accelerating at the Swedish lender Swedbank. On March 27, the Swedish Economic Crime Authority raided the lender’s headquarters in relation to potential insider information violations and police investigations of aggravated fraud. On March 28, CEO Birgitte Bonnesen was released of her duties as it became apparent that major shareholders would vote against releasing her of her liabilities at the annual general meeting. Additionally, Swedish, Estonian, and U.S. regulators are intensifying their inquiries into Swedbank’s involvement in money laundering schem...

1 director maiden bought

A director at Swedbank Ab maiden bought 1,800 shares at 166.120SEK and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Joachim Gunell ...
  • Niclas Gehin
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Christer Magnergård ...
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Antti Kansanen ...
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Martin Arnell
  • Mattias Montgomery
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Frank Maaø
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Mattias Montgomery
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Assets exposed to interest hikes

With a more favourable environment, SWEDBANK AB improves to Slightly Positive

SWEDBANK AB (SE), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 18, 2019, the closing price was SEK 214.40 and its potential was estimated at SEK 225.12.

Ibrahim Firdaus

Swedbank AB

Ibrahim Firdaus

Swedbank AB

Ibrahim Firdaus

Swedbank AB

Ibrahim Firdaus

Swedbank AB

ING
Suvi Platerink Kosonen

Nordic banks/Nordic safe haven, right?

We take a look at the Nordic bank fundamentals and relative value in senior and subordinated debt. The Swedish banks such as Handelsbanken, SEB and Swedbank exhibit solid profitability and robust capital generation capacity. Danske and Nordea lagged the Swedes in 1Q19. Please download the full report.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Benelux Credit Digest, Casino, UniCredit and Swedbank

Once again, it is with great pleasure that we present the eleventh edition of our Benelux Credit Digest, our annual overview of the key fundamentals and credit metric developments of the most important corporate and financial credits in Belgium, the Netherlands and Luxembourg. Please see the whole document on our research website.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Swedbank and Verizon Communications

S&P has placed Swedbank's (SWEDA) credit ratings on CreditWatch with negative implications. Swedbank's preferred senior debt is currently rated AA- at S&P. The move is driven by the likely effects on the bank's reputation from the investigation for alleged money laundering and disclosure of insider information and the possible revelation of serious deficiencies in the bank's controls and governance. S&P intends to resolve the review within three months' time.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Swedbank, Vodafone and EDF

The Swedish SVT indicates that Swedbank (SWEDA) was already in 2013 looking into a potential connection to the Sergei Magnitsky case, citing internal documents. At the time also the head of the Baltic operation, later the CEO of the whole bank, Birgitte Bonnesen was allegedly informed on the matter. Swedbank released a preliminary investigation into the money laundering allegations on Friday releasing few details. The more thorough investigation will likely take months to put together according to the bank. Swedbank is set to hold its annual general meeting on 28 March, likely leading to furth...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Deutsche Bank, Swedbank and Telecom Italia

Deutsche Bank (DB) warned that the market conditions in the beginning of the year have improved as compared to those experienced in 4Q18 but are somewhat weaker than the bank had anticipated. The bank expects its revenues to be slightly higher in 2019 than in 2018 assuming solid economic growth. Earlier this week UBS indicated its 1Q has been one of the worst in recent history and that its revenues in its investment bank declined by a third.

MarketLine Department

Intrum Justitia AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Intrum Justitia AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Intrum Justitia AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

Nordea Bank AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Nordea Bank AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Nordea Bank AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

MarketLine Department

Svenska Handelsbanken AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Svenska Handelsbanken AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Svenska Handelsbanken AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive a...

MarketLine Department

Danske Bank A/S - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Danske Bank A/S Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Danske Bank A/S since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Hig...

MarketLine Department

Skandinaviska Enskilda Banken AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Skandinaviska Enskilda Banken AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Skandinaviska Enskilda Banken AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain i...

Expert Corporate Governance Service (ECGS)

SwedBank, March 28, 2019

In general, Swedbank is in compliance with the Swedish regulations relating to the organisation and procedures of the AGM. Under ITEM 10, discharge of the board of directors & CEO is sought. ECGS notes that Swedbank appears to have become increasingly involved in the same money laundering scandal that hit Danish competitor Danske Bank A/S, following an episode of a Swedish investigative television programme. In connection with said programme, Sweden's Financial Supervisory Authority launched an investigation into the Company together with the equivalent authority in Estonia, since many of the...

Swedbank – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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