Jan LidénPresident and CEO, Swedbank

Capital Markets DayTallinn, September 8, 2005

2

Maintain or raise market shares in core businesses in Sweden

International growthGrowth areas in Sweden

From our current position, we will utilize opportunities to increase growth in Sweden and internationally

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• Customer orientation

• International strategy

• Independent savings banks in Sweden

• Corporate governance

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• Our aim is to be a customer-oriented, responsive universal bank with the most satisfied customers in our home markets, a strong distribution network and a complete product range

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1. Retail banking in the Nordic and Baltic regions– Nordic/Baltic area– retail banking– majority ownership– any acquisition should give a positive contribution

to group RoE long-term2. Acquisition-led expansion within certain product areas

– economies of scale– cross-border customer value– additional distribution channels

3. Greenfield investments in metropolitan retail operations

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• Our relationship with the Swedish independent savings banks and partly owned banks is a commercial one

• Our role as an owner should never interfere with that of customer and partner

• We prefer full ownership whenever possible (applies both nationally and internationally)

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• New rules of procedure and instructions, reviewed annually

• All aspects of the Swedish Code of Corporate Governance to be applied

• www.swedbank.se

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Disposals• KIAB (July ’05)

sold 100%, net gain SEK 1.4 bn

• Aktia (July ’05)

cut holding from 19.8 to 9.6%

• EnterCard (June ’05)

sold 40% to Barclays

• FIH (Sep ’04)

sold 100% of outstanding shares

• SpareBank 1 Gruppen (June ’04)

cut holding from 25 to 19.5%

• Erste Bank (June ’03) disposed of stake of 3.9% of outstanding shares

Acquisitions• Hansabank Group (Apr ’05)

Acquired 100% of outstanding shares

• Kvest Bank (Mar ’05)

Hansabank acquired 100% of shares

• EnterCard (Sep ’03)

Acquired 100% of shares

• First Securities (June ’02)

33.3% of shares; (May ’05) 51 % of shares

Greenfield investments• Helsinki (Oct ’05)

• Copenhagen (May ’05)

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Home markets, universal banking

Sweden - FöreningsSparbankenEstonia - HansapankLatvia - HansabankaLithuania - Hansabankas

Collaboration/alliances

Norway – 19.5% ownership in SpareBank 1 GruppenFinland – 9.6% ownership in Aktia

Other markets, niche bankingDenmark - Swedbank branchFinland - Swedbank branchNorway - Swedbank branch, investment banking through First Securities (51%)Russia - Corporate banking and leasing in Moscow, Kaliningrad and St PetersburgUK - Merchant/investment banking in LondonUS - Merchant/investment and corporate banking in New YorkLuxemburg - banking for affluent Swedish expatriatesChina – Corporate services in ShanghaiJapan - Rep. office in Tokyo

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• Return on equity– RoE shall exceed average of all other large, publicly listed Nordic

banks (SHB, SEB, Nordea, Danske Bank and DnB NOR) and be at least 20 percent higher than the long-term, risk-free rate of interest plus a normal risk premium

• Operational efficiency– Group C/I ratio shall not exceed 0.5

• Capital adequacy – Tier 1 ratio shall be 7 percent over the long term

• Payout ratio– At least 40 percent of net profit shall be distributed to the shareholders

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reported

%

7.6

12.3

1515.716.5 17.0

18.0

11.2

13.7

8.9

14.6

11.9

15.9

13.0

15.0

12.3

20.5

17.416.115.8

13.2

23.3

0

5

10

15

20

25

SEB Nordea SHB DnB NOR Danske Swedbank

2002 2003 2004 H1, 2005

16.6

19.2

12

0.61 0.630.59

0.63

0.69

0.620.59

0.56 0.550.58 0.57 0.56 0.56

0.53 0.53 0.54

0.20

0.40

0.60

0.80

Q3-01

Q4-01

Q1-02

Q2-02

Q3-02

Q4-02

Q1-03

Q2-03

Q3-03

Q4-03

Q1-04

Q2-04

Q3-04

Q4-04

Q1-05

Q2-05

target

0.49 inclcapital gain EnterCard

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6,9% 7,1% 7,1% 7,2%

8,2%

6,7%

5,8%

0%1%2%3%4%5%6%7%8%9%

2000 2001 2002 2003 2004 Q1-2005

Q2-2005

target

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• Leading market positions in four home markets

• Strong financial position going forward

• New management reflecting Swedbank Group integration

• Group integration process initiated

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Net Earnings Lending to the Public

Customers Branches

Swedbank81%

Hansabank19%

Swedbank91%

Hansabank9%

Swedbank49%Hansabank

51%Swedbank

63%

Hansabank37%

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Total assetsEURO Bn

Operating profitEURO M

0

30

60

90

120

150

Q401

Q102

Q202

Q302

Q402

Q103

Q203

Q303

Q403

Q104

Q204

Q304

Q404

Q105

Q205

100

150

200

250

300

350

400

Total assetsOperating profit excl non-recurring items

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Overall guidelines for integration– group interest to take precedence

– differences give room to adaption

– decentralized business decision process

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Board of Directors

President and CEO

Strategic &International

Banking

SharedServicesMarketsBaltic

BankingSwedishBanking

• Management Chair: CEO• Deputy = rotating• 6 Regional Heads• Head of Customer

Offerings and Products• Head of Telephone &

Internet Bank• Head of Savings Banks

Alliance• Head of Staffs• CCO• CIO

• Management Chair: CEO Hansabank

• 4 Regional Heads• Head of Retail Latvia• Hansabank CIO• Hansabank CFO• Hansabank CRO

• Management Chair: Headof Swedbank Markets

• Head of CRM Financial Institutions

• Head of Trading• Head of Project &

Corporate Finance• Head of Emerging Market

& Trade Finance, and Foreign Units

• Head of Operations

• Management Chair: Head of Strategic &International Banking

Head of Internal Audit

• Management Chair:Head of Swedbank SharedServices

• Head of IT Development• Head of IT Operations• Head of Support

Group Staffs

Group Executive Management:

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Customersatisfaction

Operationalefficiency Growth

BranchesInternet

TelephoneCompetence

1.

2.

3.4.

5.

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• Extension of the branch network (Copenhagen, Denmark and Helsinki, Finland)

• Strengthening investment and merchant banking operations in Norway

• Capturing credit card market potential

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• Keeping up the pace in the Baltics and Russia

• Creation of customer opportunities from the Group’s leading positions in the Nordic-Baltic area

• Harmonizing of operations– risk management

– treasury and funding

– other staff functions

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Swedish companies

399861201937427001,000No. of Swedish subsidiaries

1,5244864669643,6004,9004,800Swedish companies with imports/ exports of> EURO 0.1M to…

Total Baltics

LitLatEstFinDenNor

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• Corporate Bank of the Year for 3rd consecutive year

• Sweden’s Best Bank for Entrepreneurs for 3rd consecutive year

• Voted most attractive financialemployer and top-5 overall

• Best bank in Estonia for 6 consequtive years

• Bank of the year in Lithuania forthe first time in 2005

• Most highly respected company in Latvia in 2005

Swedbank Hansabank

Building a leading Nordic-Baltic bank