Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.

1. 1
Swedish Banking
Mr Kjell Hedman
Head of Swedish Banking
Capital Markets Day
Kiev, 5 March 2008
© Swedbank 2
Content
• Strategy
• Strong performance 2003-2007
• Improved efficiency
• Future growth areas

2. 2
Strategy
© Swedbank 4
Continued growth
Prioritized segments
• Corporates
• AM and WM
• Metropolitan areas
Increased customer satisfaction
SKI private customers
71 => 75
SKI corporate customers
68 => 75
Developed channel availability
• Opening hours, branches
• 24/7 telephone & internet
• New channels
Enhanced competence
• Expert knowledge
• Results orientation
• Ethics & morale
Improved cost efficiency
Every SEK 1 of cost/expense …
… should correspond to
more than SEK 2 of revenue
Swedish Banking general strategic direction

3. 3
© Swedbank 5
A customer-driven strategy
• Through service leadership
– To always be accessible, uncomplicated and proactive
– To have customers in focus in every given situation and to be
perceived as professional and easy to do business with
• To get the most satisfied customers
– SKI 70 => 75 private customers
– SKI 71 => 75 corporate customers
© Swedbank 6
Continuous adaptation of sales channels and products
• Through continuous development of existing channels
– All channels are sales channels and are coordinated in order
to capture and complete business
• Through availability and service level
– New sales channels will be added as technologies develop and customer
behaviour changes (contactless cards, mobile payments)
– Third-party products and white label solutions are natural to work with
• Market shares
– Increased market shares in high-growth products like pensions,
consumer finance and credit cards and recapture our market
share regarding mutual funds

4. 4
Strong performance 2003-2007
© Swedbank 8
Streamlined sales process means increased cross selling
• Training
– Sales-oriented corporate culture
– Sales methodology
– Coaching
• 4,500 employees
• 500 branch managers
• 31,000 business days have been
invested
• Number of sold products per employee
in the branches has increased by 33%
since the training started
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Private Banking Prioritized
customers
Mass market Corporate
2003
2007
0
100
200
300
400
500
600
700
800
900
2003 2004 2005 2006 2007
Payments/channels Lending Savings/deposits Non-life insurance
Number of products/customer
Number of sold products per employee

5. 5
© Swedbank 9
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Metropolitan areas Sweden excl. metropolitan ares
2003 2005 2007
-13%
+3%
0
100
200
300
400
500
600
700
800
900
1,000
Metropolitan areas Sweden excl. metropolitan ares
2003 2005 2007
+79%
+46%
Swift reallocation of resources resulting in higher
sales volumes
Number of employees 2003-2007 Business volume (SEKbn) 2003-2007
%
change from
2003 to 2007
© Swedbank 10
Increased market shares in most areas
Increased market share of total savings
30 Sept 2007 (30 June 2007)
Swedish state, 3.5
(3.4)
Alecta, 9.9 (9.8)
Folksam, 3.8 (3.8)
LF, 4.8 (4.8)
AMF, 7.4 (7.5)
Handelsbanken, 11.5
(11.4)
Nordea, 8.6 (8.5)
Skandia, 10.1
(10.1)
Swedbank, 14.7
(14.6)
SEB, 14.3 (14.0)Others, 11.3 (12.0)
0
5
10
15
20
25
30
35
40
2001 2002 2003 2004 2005 2006 2007
%
Deposits
Mortgage lending (incl JK)
Leasing & factoring
Total lending
Bank lending
Asset management (Sep 07)
Equity linked bonds

6. 6
© Swedbank 11
Good response from our customers
Recent business development
• Fund supermarket (WWW)
• External fund suppliers
• Non-life insurance with Tre Kronor
• Structural deal with Folksam regarding fund,
capital management and pension solutions
– An industrial logic to cut costs
0
25
50
75
100
Internet
payments
White collar
pensions
Occupational
pensions
PPM Private
Banking
Non-life
insurance
Well positioned in the corporate segment. Increased
number of clients, higher volumes and revenues
High revenue growth in our focused markets and products
This has resulted in increased customer satisfaction (index)
500 %
%
40
50
60
70
80
90
100
Private Corporate
2002 2003 2004 2005 2006 2007
0
10
20
30
40
50
60
70
2003 2005 2007
Share of total no. of clients Share of total business volume
Share of total revenue
Improved efficiency

7. 7
© Swedbank 13
Increased organizational efficiency
• Leaner operational structure
– From six to four operational regions
– From 75 to 42 business areas
• Branch structure
– 89 small branches were closed between 2003 and 2007
– SEK 200m in cost reduction
© Swedbank 14
Higher productivity and economies of scale
remain focus areas
0
10
20
30
40
50
60
2005 2007
Mortgage loan process
in minutes
0
200
400
600
800
2003 2007
Sold products
per employee
+34%
Number of internet
payments
(millions)
0
40
80
120
160
2003 2007
+69%
Number of debit card
transactions
(millions)
0
100
200
300
400
500
600
700
2003 2007
+52%
- 40%

8. 8
© Swedbank 15
Swedbank as the largest retail bank in Sweden gains
a lot through new customer behaviour
• Large cost reductions so far
• More cost reductions to come
• Swedbank the largest gainer as
regards new customer behaviour
50
70
90
110
130
150
170
Cashier Postal giro
payments
ATM Card
purchases
Internet
payments
2004 2005 2006 2007
Various services – level of usage (index) Swift adaptation of new sales channels – Number of contacts 2003-2007
0
20
40
60
80
100
Purchase of
shares
Purchase of funds Purchase of
equity linked
bonds
Payments Money transfers
(standing orders)
Telephone - Personal Service Internet
New channels contribute to lower costs
(share of branch office costs)
0
50
100
150
200
2003 2004 2005 2006 2007
Personal service calls Self-service calls Log-ins InternetBank
%
© Swedbank 16
Improved productivity – so far
Index 2003 = 100
40
60
80
100
120
140
160
180
2004 2005 2006 2007
No. employees/branch No. customers/branch
No. of customers/employee Business volume/employee (SEK)
ofof

9. 9
© Swedbank 17
• Branch structure
– Increased efficiency through change in locations and streamlined work process
• Telephone Bank
– Automation and streamlined work process
• Automate customer service
– New functionality toward unidentified customers
• Cash handling
– Structural approach
• Credit application process
– Reduce manual work, electronic ID
• Card processing
– Increased volumes
Ongoing process to cut costs
Total expenses SEK 2bn
Future growth areas

10. 10
© Swedbank 19
Good market response on our initiatives
• Private banking & wealth management work in progress
– Business volume +55% since 2005
• Metropolitan areas work in progress
– Business volume +36% since 2005
• Corporate market work in progress
– Business volume +42% since 2005
• Life and pension start up
• Non-life insurance start up
• Credit cards start up
© Swedbank 20
Life and pension – growth ambition until 2010
0
20
40
60
80
100
120
140
160
180
200
current position 2010
Endowment
Private pension
Corporate pension
Market shares Premium income growth and product mix (index)
Current position = 100
0%
5%
10%
15%
20%
25%
30%
Corporate pension Private pension Endowment
current position ambition 2010

11. 11
EnterCard – a success story
© Swedbank 22
Stockholm
Oslo
Copenhagen
Heritage
• Long history and experience within
credit cards and regional banking
• Undoubted balance sheet strength
• Best-in-class risk management and controls
• EnterCard created mid-2005
EnterCard
• Leveraging on the global capability and local
expertise of the parents
• Offices in Stockholm, Oslo and Copenhagen
• Today > 1,100,000 accounts
• 230 employees
• 7 partner card programmes
Market transformation
• Re-defining the credit card
customer proposition
• Re-establishing the credit card as the
smartest way to pay
• Introducing a real credit card consumer
brand in the market
• Bringing credit card penetration
to European levels
In 2005 Swedbank and Barclays
joined forces to create a regional
credit card issuer
EnterCard was created drawing
on global credit card competence
and local expertise
EnterCard is redefining the market
EnterCard has brought global competence, combined with local
expertise, to the Nordic market re-defining the credit card category

12. 12
© Swedbank 23
Good start – aggressive growth plans for the future
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2004
2005
2006
2007
Actual
JV Start
Average
pre JV
2004
1 IKANO 37%
2 ICA 16%
3 Handelsbanken 10%
4 SEB 9%
5 EnterCard 7%
6 KF 4%
7 Nordea 4%
8 Others 13%
2006
1 IKANO 33%
2 ICA 15%
3 EnterCard 10%
4 Handelsbanken 9%
5 SEB 9%
6 KF 5%
7 GE 5%
8 Nordea 4%
9 Others 10%
In Sweden, EnterCard has jumped from 5th to 3rd
largest credit card issuer
EnterCard Sweden balance development (SEKm)
Card issues
© Swedbank 24
There is more work to be done
0.42
0.44
0.46
0.48
0.50
0.52
0.54
0.56
0.58
2003 2004 2005 2006 2007
Group Swedish Banking
C/I ratios after
deduction of
extraordinary profits

13. 13
© Swedbank 25
Summary
• Strong performance
• Our market initiatives have been well received
• Increasing market shares in most areas
• Increased customer satisfaction
• Clear strategy for growth
• Focus on our three new growth areas
– Life and pension
– Non-life insurance
– EnterCard
• Increased focus on operational costs