Company Overview of Swedbank AS
Swedbank AS provides various banking and financial services primarily in Estonia. The company offers savings and investments products, including savings accounts, mutual funds, insurance savings, pension savings, life insurance products, asset management, and other savings and investment products. It also provides financing products, such as private residential lending, consumer finance, credit cards, corporate lending, leasing, credit guarantees, and other financing products. In addition, the company offers current accounts, cash handling, debit cards, and card acquiring products, as well as domestic, international, and document payment services. Further, it provides trading and capital mar...
Founded in 1991
Key Executives for Swedbank AS
Chief Financial Officer and Head of Corporate Banking Division
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 2012.
Swedbank AS Key Developments
Swedbank AS Reports Earnings Results for the First Quarter of 2013
May 1 13
Swedbank AS reported earnings results for the first quarter of 2013. Profit for the first quarter of 2013 amounted to EUR 42.3 million, against EUR 53.1 million for the first quarter of 2012. The decline was mainly due to lower net interest income. In addition, year-on-year net recoveries were down. Year-on-year revenues decreased by 13% in the first quarter of 2013. This decrease was mainly due to lower net interest income (lower base rates), which decreased by 17% compared to first quarter of 2012. First quarter of 2013 net commission income increased by 1% year-on-year to EUR 15.4 million. This was driven by higher commission income from payment services resulting from increasing client activity.
For the first quarter of 2013, impaired loans, gross, amounted to EUR 234 million against EUR 379 million in the first quarter of 2012. The main causes of decline were on-going collateral realization procedures, impaired exposures being shifted back to the primary portfolio and a smaller number of new impaired loans. Overall credit quality has strengthened through a gradual increase in new low risk lending.
Swedbank Estonia Reports Earnings Results for the First Quarter of 2013
Apr 23 13
Swedbank Estonia reported earnings results for the first quarter of 2013. For the quarter, the company reported profit of EUR 42.3 million against EUR 53.1 million a year ago. The decline was mainly due to lower net interest income. In addition, year-on-year net recoveries were down. Year on year revenues decreased by 13% in first quarter. This decrease was mainly due to lower net interest income which decreased by 17% compared to first quarter of 2012.
Swedbank AS Reports Earnings Results for the Second Quarter and First Half of 2012
Jul 18 12
Swedbank AS reported earnings results for the second quarter and first half of 2012. The company earned EUR 45.6 million in net profit in the second quarter of 2012. The increase in net profits was mainly due to higher net recoveries. Nevertheless, net income was affected by lower base interest rates.
In the first half of 2012, net interest income decreased 11% year on year, driven by lower base rates and a smaller loan portfolio.
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