The document summarizes Swedish household savings data for the fourth quarter of 2010. Key points include: - Total household savings increased by 49 billion Swedish kronor in Q4 2010, with 30 billion allocated to premium pensions and 36 billion saved in bank deposits. - Stock prices on the Stockholm exchange increased by 7.4% while housing prices decreased by 0.3%. - Household borrowing increased by 1.5% in Q4 2010 and 7.4% over the past 12 months. - The largest providers of household savings were Swedbank with a 14.4% market share, SEB with 12.2%, and Alecta with 9.8%.

1. Savings Barometer
QIV 2010
Savings Barometer Fourth Quarter 2010

2. SEB Savings Barometer
Fourth Quarter 2010
 Total household savings = bank deposits, life insurance,
mutual funds, bonds, government savings plans, premium
pensions and - when noted - directly held equities and
housing.
 Sources: Statistics Sweden, Bank of Sweden, Swedish
National Board of Student Aid (CSN), Swedish Insurance
Federation, Swedish Mutual Fund Association, Svensk
Fondstatistik/MoneyMate, NASDAQ OM Stockholm
Exchange, NGM/NDX, SHB, Nordea Life, SEB Trygg Life,
Swedish Pensions Agency, maklarstatistik.se, interim and
annual reports of companies.
 Compiled by Carl Holm, SEB Trygg Life
Savings Barometer Fourth Quarter 2010

3. Development Fourth Quarter 2010
•New savings were 49bn kronor, of which 30bn were the yearly
allocation to premium pensions and 36bn were saved in bank
deposits. Bond savings showed a negative figure of 15bn.
•On the Stockholm Stock Exchange (NASDAQ OM) the AGFX
index increased by 7.4 per cent.
•Housing prices decreased by 0.3 per cent.
•Households increased borrowing by 1.5 per cent during the
fourth quarter. For twelve months the increase was 7.4 per
cent.
•SEB had a 12.2 per cent market share and Swedbank 14.4 per
cent. Alecta had 9.8 per cent, Skandia 9.2, Nordea and
Handelsbanken 8.7 each.
Savings Barometer Fourth Quarter 2010

4. Development Fourth Quarter 2010
SEK bn
Value, beginning of quarter 9,989
Savings +49
Value, shareholdings directly held +57
Value, housing -12
Value, other assets +86
Value, end of quarter 10,169
Loans -2,704
Net assets 7,465
Savings Barometer Fourth Quarter 2010

5. Swedish Household Savings
Total household savings have
SEK m increased by 37.9% since year-
end 2005, from SEK 7,376 bn to
SEK 10,169 bn.
5 000 000
4 500 000
4 000 000
3 500 000
3 000 000 Bank deposits
2 500 000 Trad insurance
2 000 000 Unit-linked insurance
Mutual funds
1 500 000
Bonds
1 000 000 Premium Pensions
500 000 Shareholdings
0 Housing
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

6. Total Household Savings Market
Market Shares December 31 2010 (September 30 2010)
Others SEB
13.3 (12.8)% 12.2 (12.4)%
Government
3.4 (3.2) Swedbank
14.4 (14.4)%
Alecta
9.8 (9.8) %
Folksam Skandia
4.8 (5.1)% 9.2 (9.3)%
LF Nordea
4.6 (4.8)% Handelsbanken 8.7 (8.8)%
AMF SPP 8.7 (8.5)%
7.6 (7.6)% 3.2 (3.3)%
Savings Barometer Fourth Quarter 2010

7. Household Savings
Market Shares December 31 2010
Share, per cent Bank Trad. U-L Mutual Bonds Prem Total
deposits insur. insur. funds Pens
SEB 11.7 9.9 26.1 13.6 9.4 1.8 12.2
Alecta 26.8 9.8
Skandia 2.7 17.2 19.6 0.0 1.1 9.2
LF 3.5 6.6 9.4 0.6 3.0 4.6
Folksam 10.6 7.9 4.8
AMF 17.2 3.9 0.8 8.5 7.6
Handelsbanken 18.5 1.9 6.9 12.9 18.5 3.0 8.7
Storebrand/SPP 5.4 6.4 6.1 3.2
Nordea 16.2 1.2 1.9 20.6 9.7 3.8 8.7
Swedbank 23.9 1.0 14.2 29.3 9.0 18.5 14.4
Government 35.3 27.1 3.4
Others 23.6 2.2 3.6 22.3 18.1 27.2 13.3
Savings Barometer Fourth Quarter 2010

8. ”Security Savings”
December 31 2000 December 31 2010
Bank deposits
Trad insurance
U-L insurance
Premium Pensions
Mutual funds
Bonds
Shares
44.6% 48.4%
Savings Barometer Fourth Quarter 2010

9. Total Household Savings
100%
90%
80%
70%
60% Housing
50% Shareholdings
40%
Premium Pensions
Bonds
30%
Mutual funds
20% U-L insurance
10% Trad insurance
0%
Bank deposits
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

10. Total Household Savings
Market Shares (excluding shareholdings and housing)
December 31 2010 (December 31 2005)
100%
80%
Others 13.3% (10.3)
Government 3.4% (3.4)
Folksam 4.8% (4.0)
60% Alecta 9.8% (10.9)
AMF 7.6% (7.8)
LF 4.6% (5.0)
Storebrand 3.2% (-)
40% Handelsbanken 8.7% (11.2)
Nordea 8.7% (8.9)
Skandia 9.2% (11.1)
Swedbank 14.4% (14.4)
20% SEB 12.2% (13.1)
0%
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

11. Bank Deposits, Market Shares
December 31 2010 (December 31 2005)
100%
Other banks 23.6% (21.2)
80%
Swedbank 23.9% (25.6)
Nordea 16.2% (18.3)
60%
Handelsbanken 18.5% (15.9)
40% LF 3.5% (3.1)
Skandia 2.7% (3.7)
20%
SEB 11.7% (12.2)
0%
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

12. Traditional Insurance, Market Shares
December 31 2010 (December 31 2005)
100%
Others 2,2% (1,5%)
Swedbank 1,0% (0,2)
80% AMF 17.2% (16.7)
Nordea 1.2% (1.2)
Alecta 26.8% (26.2)
60%
Storebrand 5.4% (-)
Handelsbanken 1.9% (7.3)
40% Folksam 10.6 (6.9)
LF 6.6% (7.2)
Skandia 17.2% (20.0)
20% SEB 9.9% (12.8)
0%
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

13. Unit-linked Insurance, Market Shares
December 31 2010 (December 31 2005)
100%
Others 3.6% (1.6)
AMF 3.9% (2.9)
80%
Swedbank 14.2% (16.1)
Storebrand 6.4% (-)
60%
Handelsbanken 6.9% (14.4)
Nordea 1.9% (2.2)
40%
Folksam 7.9% (6.5)
LF 9.4% (9.2)
20% Skandia 19.6% (21.8)
SEB 26.1% (25.3)
0%
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

14. Mutual Funds, Market Shares
December 31 2010 (December 31 2005)
100%
90% Övriga 23.0% (19.4)
80%
Swedbank 29.3% (31.1)
70%
60% Nordea 20.6% (20.6)
50%
Handelsbanken 12.9% (12.9)
40%
30% Folksam - (0.8)
20%
LF 0,6% (1.7)
10%
0% SEB 13.6% (13.5)
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

15. Premium Pensions, Market Shares
December 31 2010 (December 31 2005)
100%
Others 27.2% (20.5)
Staten 27.1% (31.1)
80%
Swedbank 18.5% (13.7)
Nordea 3.8% (2.6)
60%
Storebrand 6.1% (-)
Handelsbanken 3.0% (10.4)
40%
AMF 8.5% (8.3)
Folksam - (5.7)
20% LF 3.0% (3.9)
Skandia 1.1% (1.6)
0% SEB 1.8% (2.2)
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

16. Bonds, Market Shares
December 31 2010 (December 31 2005)
The change in bonds issued by
SEB QI 2007 is mainly caused by the
technique used for measurement
and is significantly overstating
real changes
100%
Others 18.1% (13.6)
80%
Gov't 35.3% (49.6)
60%
Swedbank 9.0% (12.2)
40% Nordea 9.7% (5.5)
Handelsbanken 18.5% (16.4)
20%
SEB 8.4% (2.8)
0%
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

17. Savings - Distributed by Company
SEK m
05-IV 06-II 06-IV 07-II 07-IV 08-II 08-IV 09-II 09-IV 10-II 10-IV
800 000
700 000
600 000
500 000
400 000
300 000
200 000
100 000
0
en
nk
ea
B
P
F
LF
ta
dia
AM
SE
SP
ec
ba
nk
rd
an
Al
No
ba
ed
Sk
els
Sw
nd
Ha
Savings Barometer Fourth Quarter 2010

18. Savings - Distributed by Assets
05-IV 06-II 06-IV 07-II 07-IV 08-II 08-IV 09-II 09-IV 10-II 10-IV
SEK m
2000000
1800000
1600000
1400000
1200000
1000000
800000
600000
400000
200000
0
Bank Trad Unit-linked Mutual funds Bonds Premium
deposits insurance ins Pensions
Savings Barometer Fourth Quarter 2010

19. New Savings Excluding Premium Pensions
SEK m Quarterly figures
70 000
60 000
50 000
40 000
30 000
20 000
10 000
0
06-I 06-II 06-III 06- 07-I 07-II 07-III 07- 08-I 08-II 08-III 08- 09-I 09-II 09-III 09- 10-I 10-II 10-III 10-
-10 000
IV IV IV IV IV
-20 000
-30 000
-40 000
Savings Barometer Fourth Quarter 2010

20. New Savings Excluding Premium Pensions
SEK m
12 month figures
200 000
180 000
160 000
140 000
120 000
100 000
80 000
60 000
40 000
20 000
0
06-I 06-II 06-III 06-IV 07-I 07-II 07-III 07-IV 08-I 08-II 08-III 08-IV 09-I 09-II 09-III 09-IV 10-I 10-II 10-III 10-IV
Savings Barometer Fourth Quarter 2010

21. New Savings
Fourth Quarter 2010
Premium Pensions
Bonds
Mutual funds
U-L insurance
Trad insurance
Bank deposits
-20 000 -10 000 0 10 000 20 000 30 000 40 000
SEK m
Savings Barometer Fourth Quarter 2010

22. New Savings
Fourth Quarter 2010
SPP
Alecta
AMF
Swedbank
Nordea
Handelsbanken
Folksam
LF
Skandia
SEB
-4 000 -2 000 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000
SEK m
Savings Barometer Fourth Quarter 2010

23. Change of Total Savings
Fourth Quarter 2010
Premium Pensions
Bonds
Mutual funds
U-L insurance
Trad insurance
Bank deposits
Shareholdings
Housing
-20 000 -10 000 0 10 000 20 000 30 000 40 000 50 000 60 000 70 000
SEK m
Savings Barometer Fourth Quarter 2010

24. Change of Total Savings
Fourth Quarter 2010
Others
Gov't
Alecta
SPP
SHB
AMF
Swedbank
Nordea
LF
Skandia
SEB
-5 000 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000
SEK m
Savings Barometer Fourth Quarter 2010

25. New Savings and Change of Savings Stock
SEK m
300 000
New Savings
Change of Savings Stock
200 000
100 000
0
06-I 06-II 06-III 06-IV 07-I 07-II 07-III 07-IV 08-I 08-II 08-III 08-IV 09-I 09-II 09-III 09-IV 10-I 10-II 10-III 10-IV
-100 000
-200 000
-300 000
Savings Barometer Fourth Quarter 2010

26. Houshold Assets
Fixed-income Equities Housing
SEK bn
5 000
4 500
4 000
3 500
3 000
2 500
2 000
1 500
1 000
500
0
-IV -II -IV -II -IV -II -IV -II -IV -II IV -II -IV -II -IV -II -IV -II -IV -II -IV
00 01 01 02 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 10
Savings Barometer Fourth Quarter 2010

27. ”Balance sheet” of Households
SEK m Assets Liabilities
12 000 000
10 000 000
8 000 000
6 000 000
4 000 000
2 000 000
0
-IV -II -IV -II -IV -II -IV -II V -II -IV -II -IV -II -IV -II -IV -II V -II -IV
00 01 01 02 02 03 03 04 04 -I 05 05 06 06 07 07 08 08 09 09 -I 10 10
Savings Barometer Fourth Quarter 2010

28. Share Prices in Stockholm
AGFX, 1995-12-30= 100 (linked to SIX GX)
450
400
350
300
250
200
150
100
50
0
01 02 03 04 05 06 07 08 09 10
20 20 20 20 20 20 20 20 20 20
Savings Barometer Fourth Quarter 2010

29. New houshold loans QIII
compared with corresponding
quarter previous year
QIV 2010 + 41 bn
QIV 2009 + 61 bn
QIV 2008 + 39 bn
QIV 2007 + 53 bn
QIV 2006 + 61 bn
QIV 2005 + 57 bn
Savings Barometer Fourth Quarter 2010

30. Household loans
(Change in per cent compared to previous year)
Decembere 31 2001 + 7.4%
September 30 2010 + 8.3%
June 30 2010 + 8.3%
March 31 2010 + 8.8%
December 31 2009 + 8.5%
Savings Barometer Fourth Quarter 2010

31. Household Assets and Liabilities
December 31 2010
Housing/Mortgage loans Equities/Bank loans Fixed-income/Consumer credits
12 000
10 000
8 000
6 000
4 000
2 000
0
Assets Liabilities
SEK bn
Savings Barometer Fourth Quarter 2010

32. Household Assets and Liabilities
December 31 2010
Housing/Mortgage loans Equities/Bank loans Fixed-income/Consumer credits
12 000
10 000
8 000
6 000
4 000
2 000
0
Ass Liab Ass Liab Ass Liab Ass Liab Ass Liab
First Quarter of Indicated '97 '97 '00 '00 '03 '03 '06 '06 '10 '10
Year, SEK bn., for 2010
Fourth Quarter
Savings Barometer Fourth Quarter 2010

33. Loans
SEK m SEK 200bn reclassified
from mortgage to bank
1 800 000 loans in QIV 2007
1 600 000
1 400 000
1 200 000
1 000 000
800 000 Mortgage loans
600 000 Bank loans
Consumer credits
400 000
Gov't student loans
200 000
0
05-IV 06-IV 07-IV 08-IV 09-IV 10-IV
Savings Barometer Fourth Quarter 2010

34. Households’ liability/asset ratio
Per cent Liability/ asset ratio
35
30
25
20
15
10
5
0
-IV -II -IV -II -IV -II -IV -II -IV -II -IV -II -IV -II -IV -II -IV -II -IV
01 02 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 10
Savings Barometer Fourth Quarter 2010

35. SEK m
Savings - Distributed by Company
01-I 01-III 02-I 02-III 03-I 03-III 04-I 04-III 05-I 05-III 06-I 06-III 07-I 07-III 08-I 08-III 09-I 09-III 10-I 10-III
800 000
700 000
Slide not updated
600 000
500 000
400 000
300 000
200 000
100 000
0
SEB Swedbank Skandia Nordea Handelsbanken LF AMF Alecta
Savings Barometer Fourth Quarter 2010

36. Savings - Distributed by Assets
01-I 01-III 02-I 02-III 03-I 03-III 04-I 04-III 05-I 05-III 06-I 06-III 07-I 07-III 08-I
08-III 09-I 09-III 10-I 10-III
SEK m
2000000
1800000 Slide not updated
1600000
1400000
1200000
1000000
800000
600000
400000
200000
0
Bank deposits Trad insurance U-L insurance Mutual funds Premium Bonds
Pensions
Savings Barometer Fourth Quarter 2010