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. Morgan Stanley European Banks & Financials Conference
Mr Jan Lidén
CEO
London, 3 April 2008

2. © Swedbank 2
Strong position for profitability and growth
Ukraine and RussiaBalticsSweden
Stable base
Growth and
experience
Future growth and
profitability
Swedbank is the leading bank in
Sweden. Profitability is high and
stable and the bank is
consolidating its market shares in
important segments in both the
private and corporate sectors.
Swedbank has a small but
growing presence in Ukraine and
Russia. In the long term, a
significant share of Swedbank’s
growth will be generated in these
markets.
The Baltic economies are
experiencing strong economic
growth that is expected to remain
for many years. As the largest
bank in the region, growing with
the market ensures attractive
earnings growth.
Share of profit
2007: 66%
Share of lending
2007: 80%
Share of profit
2007: 2%
Share of lending
2007: 2%
Share of profit
2007: 32%
Share of lending
2007: 16%

3. © Swedbank 3
Growing number of home markets
2003 2008 2012
Business is conducted through decentralized decision making,
but supported by common methodology and processes

4. © Swedbank 4
Strong profit development
-1,000
1,000
3,000
5,000
7,000
9,000
11,000
13,000
15,000
17,000
2000 2001 2002 2003 2004 2005 2006 2007
-1,000
1,000
3,000
5,000
7,000
9,000
11,000
13,000
15,000
17,000
Profit before loan losses Capital gains EnterCard and KIAB
Loan losses, net* Operating profit (excl. capital gains)
SEKm SEKm
*Loan losses, net = write-offs
+ provisions – recoveries
+ change in property taken over

5. © Swedbank 5
Strategic priorities for the coming year
Efficiency Growth

6. © Swedbank 6
Strategic priorities for the coming year – Efficiency
Sweden
• Structural measures
(operational and
branch structure)
• Channel
management
• Cash handling
The Baltic region
• Improve cross-border
capabilities
• Productivity -
measurement and
continuous
improvement scheme
• Employee retention
• IT management
development
Ukraine
• HR management
• Competence build-
up and growth
management
• Process
management
• IT systems
Broad client base and large volumes together with efficient processes will drive
operational efficiency

7. © Swedbank 7
Strategic priorities for the coming year – Growth
Sweden
• Private banking and
wealth management
• Metropolitan areas
• Corporate market
• New initiatives to
come – life and
pension, etc
The Baltic region
• Leverage on pan-
Baltic position within
corporate sector
• Broaden client
offerings
• Investment
management
growth
Ukraine
• Capture growth
• Grow distribution
network – ATMs,
branches and
agency network
• Broader product
range
From a strong position in several markets there is an excellent organic growth
opportunity for Swedbank in many areas – with some differences in regional focus

8. © Swedbank 8
Swedbank Markets – Objectives
• Swedbank Markets shall be a
leading multi-domestic player in
the region with the competitive
advantage of serving our
customers with access to/from
the CEE region.
• Overall priority is to further
increase cross-border capital
markets business in the region.
In 2007 Swedbank Markets delivered a record profit
Swedbank Market’s profit to Swedbank’s shareholders
0
200
400
600
800
1,000
1,200
2003 2004 2005 2006 2007
SEKm
Swedbank Markets excluding First Securities
First Securities

9. © Swedbank 9
Swedbank Russia – Objectives
• Long-term vision of a universal bank in Russia intact
– but a relatively slow pace during 2008
• Building robust administrative routines
• Growing corporate business
• Open a few new retail branches during 2008
– retail products development
• Implementation of new IT system
• Risk management improvement
In 2007 Swedbank Russia faced significant challenges but
still increased lending and profits

10. © Swedbank 10
Swedbank funding structure
Funding
95%
Equity
5%
Deposits
84%Equity
8%
Funding
8%
Swedbank Treasury (excl. Swedbank Mortgage)
• Large deposits
• Liquidity reserves
• Net lender in the interbank market
• Liquidity limits – conservative view
Swedbank Mortgage
constitutes a larger part of
Swedbank Group’s balance
sheet compared to other
financial institutions
Distribution of net funding need
Swedbank Mortgage
Lending to the public – SEK 1,103bn
51%49%
Swedbank Group
excl. Swedbank
Mortgage SEK 542bn
Swedbank
Mortgage
SEK 561bn

11. © Swedbank 11
Municipalities
3% (4)Commercial
buildings
1% (1)
Agriculture
6% (6)
Multi-family housing
incl. condominium
associations
16% (17)
Individual
condominiums
13% (11)
Single-family homes
61% (61)
Swedbank Mortgage – credit risk
Net
0
500
1,000
1,500
2,000
2,500
3,000
2000 2001 2002 2003 2004 2005 2006 2007
SEKm
= 90% Residential loans
Average LTV of 44%
“80% percent of the portfolio has an LTV of 50% or lower”
Credit losses
-net recoveries during 2007
Impaired, restructured and past due loans
– at historically low levels
31 Dec
-100
0
100
200
300
400
500
600
700
2000 2001 2002 2003 2004 2005 2006 2007
SEKm
0%
10%
20%
30%
40%
50%
60%
<30% 30-60% 60-75% 75-85% >85%
Distribution of loan to value

12. © Swedbank 12
Converting to covered bonds, Q2 2008
• Possibility to meet a broader investor base
• Larger investor base ensures even more stable liquidity
• AAA rating – funding at lower cost
• Increased liquidity reserve through Swedbank’s possibility
to pledge subsidiary covered bonds in the Swedish
Central Bank
• Funding strategy to prolong maturity structure with
covered bonds

13. © Swedbank 13
Summary
• Swedbank offers a strong and stable banking operation
with high profitability across several geographical areas
• Swedbank has a solid foundation that offers very good
organic growth opportunities
• Focus on efficiency will secure continued profitable growth
for the Group
• Stable funding structure
Swedbank - Positioned for profitability and growth