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
High quality funding
Mr Mikael Inglander
CFO
Capital Markets Day
Kiev, 5 March 2008
© Swedbank 2
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

2. 2
© Swedbank 3
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
© Swedbank 4
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

3. 3
© Swedbank 5
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
© Swedbank 6
Swedbank Mortgage – long-term funding
Action plan:
• Conversion to covered bonds during Q2 2008
and covered bond issues, approx. EUR 6.0bn
• Continuous activities in the market for private
placements, approx. EUR 1.5bn
• Continuous issues on tap in the Swedish
mortgage bond market under existing mortgage
bond programme, approx. EUR 7.5bn
• The issue of a new 5-year Swedish benchmark
bond Swedbank Mortgage 177
• The maturity of SPI173 in June 2008 is smaller
than the average yearly maturing domestic
benchmark bond
Swedbank Mortgage - maturity of long-term funding
0
50,000
100,000
150,000
200,000
250,000
<1y 1-2y 2-3y 3-4y 4-5y >5y
SEKm

4. 4
© Swedbank 7
Additional material
© Swedbank 8
Swedbank Mortgage
Maturity profile 2008, long-term funding
Total: SEK 158,467m
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
SEKm