Swedbank CMD Erkki Raasuke
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Swedbank CMD 23 Feb 2011, Steering towards a sound and sustainable business, Errki Raasuke, CFO
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Swedbank CMD Erkki Raasuke
- 1. Steering towards a sound and sustainable business Erkki Raasuke, Chief Financial Officer
- 2. Direction and boundaries Towards a sound and sustainable business • Strategy – Customers – Offerings – Operating model • Risk appetite – Credit risk – Liquidity risk –OOperational risk i l i k – Market risk • Financial targets – Return on equity – Dividend policy p y – Capitalisation 2
- 3. Financial targets New financial targets as of 2011 g • R t Return on equity it 15% • Dividend policy The dividend will correspond to 50% of after-tax profit, provided that the bank meets its capitalisation goals • Capitalisation The core Tier 1 capital ratio will remain above 13% until 2013 L b til 2013. Long-term, t the core Tier 1 capital ratio will not be below 10% 3
- 4. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 4
- 5. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 5
- 6. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 6
- 7. Efficiency Significant potential in performance management g p p g Top 25% Middle 25-75% Bottom 25% • Over 5-fold differences in sales performance between Meetings 4.2 Meetings 3.6 Meetings 2.7 best and lowest performers Sales per Sales per Sales per meeting ti 1.9 1 9 meeting ti 1.2 1 2 meeting ti 0.6 06 Sales 8.4 Sales 4.3 Sales 1.6 5.3x Significant potential if bottom performance is improved 7
- 8. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 8
- 9. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 9
- 10. Balance sheet Actual matched funding cost shows different profitability g p y Economic value added Blended funding Lending/funding volume 10
- 11. Balance sheet Actual matched funding cost shows different profitability g p y Economic value added Actual funding Blended funding Lending/funding volume 11
- 12. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 12
- 13. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 13
- 14. Financial targets Internal business steering and follow-up g p Returns 1. Return on equity Efficiency 2. Dividend li 2 Di id d policy Balance sheet B l h t Risk 3. Capitalisation Franchise 14
- 15. Summary y • Steering in place • Large room for improvements • Focused execution 15