This document summarizes Nordic Bank's operations in Q1 2010. It discusses the bank's markets in Latvia, Lithuania, Estonia and Sweden. Key metrics provided include number of employees, private and corporate customers, branches, ATMs and cards. Lending by country is shown, with 82% in Sweden. Results for Q1 2010 show a profit of SEK 547 million compared to a loss in Q4 2009. Asset quality continues to improve with fewer new impaired loans. Capital ratios remain strong at 12.31% for core tier 1 capital.

1. Nordic Bank Seminar
June 2010
Erkki Raasuke, CFO

2. The bank for the many people, households and businesses
2
Our home markets
Latvia
Population 2.3m
Employees 1 846
Private customers 0.9m
Corporate customers 60 000
Branches 59
ATMs 369
Cards 0.9m
Lithuania
Population 3.4m
Employees 2 485
Private customers 3.2m
Corporate customers 90 000
Branches 99
ATMs 444
Cards 1.7m
Estonia
Population 1.3m
Employees 2 619
Private customers 1.2m
Corporate customers 99 000
Branches 68
ATMs 556
Cards 1.2m
Sweden
Population 9.2m
Employees 8 480
Private customers 4.1m
Corporate customers 285 000
Organisations 115 000
Branches 381
ATMs 802
Cards 3.7m

3. Swedbank – a strong retail franchise
• Leading provider of services in many market segments
3
0
10
20
30
40
50
60
Sweden Estonia Latvia Lithuania
% Market shares, private
Mortgage lending
Deposits
0
5
10
15
20
25
30
35
40
45
50
Sweden Estonia Latvia Lithuania
% Markets shares, corporate
Lending
Deposits

4. 0 200 400 600 800 1 000
SEKbn
Total lending by country, SEK 1 168bn
• Lending of SEK 216bn to CEE countries
4
Sweden 82%
Estonia 6%
Latvia 4%
Lithuania 3%
Russia 1%
Ukraine 1%
Other* 4%
100%
* Mainly Norway, Denmark, Finland, Luxemburg and USA

5. 5
Business area overview
-3 000
-2 000
-1 000
0
1 000
2 000
3 000
Retail Large Corporates &
Institutions
Baltic Banking Russia & Ukraine Asset Management Ektornet
SEKm
Profit before impairments
Q2 09 Q3 09
Q4 09 Q1 10
-3 000
-2 000
-1 000
0
1 000
2 000
3 000
Retail Large Corporates &
Institutions
Baltic Banking Russia & Ukraine Asset Management Ektornet
SEKm
Operating result
Q2 09 Q3 09
Q4 09 Q1 10

6. Development since March 2009
• New management team
• Changed governance
• Reduced credit risks
• Strengthened capitalisation
• Improved funding structure
• Back to profit
6

7. 7
First quarter 2010 results
SEKm Q1 2010 Q4 2009 Change
Net interest income 4 023 4 702 -679
Net commission income 2 282 2 361 -79
Net gains/losses on financial items, fair value 647 223 424
Other income 715 751 19
Non recurring items -55 -55
Total income 7 667 7 982 -315
Staff costs 2 296 2 319 -23
Variable staff costs 79 23 56
Other expenses 2 016 2 370 -354
Non recurring items -412 412
Total expenses 4 391 4 300 91
Profit before impairments 3 276 3 682 -406
Impairment of intangible assets 14 0
Impairment of tangible assets 36 352 -316
Credit impairments 2 210 5 003 -2 793
Operating profit 1 016 -1 673 2 689
Tax expense 469 115 354
Result for the period 547 -1 788 2 335
Profit for the period attributable to: Shareholders of Swedbank AB 536 -1 804 2 340

8. Continued headwinds and temporary effects
8
Net interest income
Q4 2009 4 702
Funding maturity mismatch -208
Trading strategy -145
Wholesale funding cost -121
Baltic Banking, Russia & Ukraine -118
NII and equity hedges -37
Other -50
Q1 2010 4 023
4 702
4 023
163
147 44
73
252
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
5 000
NII Q4 09 Retail LCI Baltic
Banking
Russia &
Ukraine
Group
Treasury
and Other
NII Q1 10SEKm

9. SEKm Q1 10 Q4 09* Q1 09
Retail 32 45 43
Large Corporates & Institutions 441 55 1 332
Baltic Banking 72 88 183
Russia & Ukraine 27 149 10
Group Treasury and Other 75 -114 143
Swedbank Group 647 223 1 711
Stronger net gains
• Trading strategy pressed NII and boosted net gains and losses
• Stable currency rates in Ukraine
• Lower P&L impact from wholesale funding valuation
9
Net gains/losses on financial items, fair value
* Excluding capital gain of SEK 39m (sale
of Aktia shares SEK 24m and of Tallinn
Stock Exchange shares SEK 15m)

10. Improved funding situation
• Swedbank exits guarantee
programme as per 30 April 2010
• SEK 100bn of long-term debt
issued during Q1
• SEK 110bn in remaining term
funding maturities to roll or replace
in 2010
• Average maturity of wholesale
funding* further extended to 24
months (14 months end of 2008)
* Consists of debt securities in issue, repo’s with
central banks and interbank deposits
10
Liquidity & Capital management
Outstanding wholesale funding
* Issued with more than 12 months maturity, government fee of 83bp
** Including interbank deposits
*** Issued with less than 12 months maturity, government fee of 50bp
SEKbn, notional value
61
97
116
180
397
28
87
108
174
459
Total short-
term,
guaranteed***
Total short-
term, non-
guaranteed**
Central bank
repos
Total long-
term,
guaranteed*
Total long-
term, non-
guaranteed
Q1 2010
Q4 2009

11. Well capitalised
11
Capital management
Core Tier 1 capital ratio* YE 09 12.01%
Result +0.09%
RWA reduction +0.16%
Other +0.05%
Core Tier 1 capital ratio* Q1 10 12.31%9.4
9.8 9.9
12.0
12.3
0
2
4
6
8
10
12
14
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
%
*according to full Basel 2
Core Tier 1 capital ratio*

12. Asset quality continues to strengthen
• Improved macro
– Stabilised/increasing property prices in CEE
• Swedbank risk profile continued to improve
– Limited new problems
– Increasingly confident in known problems
– Anecdotal evidence positive
12
Asset quality

13. -50
0
50
100
150
200
250
300
350
400
Q109
Q209
Q309
Q409
Q110
Q109
Q209
Q309
Q409
Q110
Q109
Q209
Q309
Q409
Q110
Q109
Q209
Q309
Q409
Q110
Q109
Q209
Q309
Q409
Q110
EURm
Quarterly change of 60-day past due loans
• Stabilisation continues
13
Asset quality
Estonia Latvia Lithuania Russia Ukraine

14. Impaired loans – almost no new problems
• Without FX effect up SEK 1.5bn
14
Asset quality
Impaired loans as
% of gross lending
Ukraine 57%
Russia 20%
Lithuania 17%
Latvia 25%
Estonia 7.6%
LCI 0.3%
Retail 0.2%
9 343
9 736
6 113
4 362 196
10 578
19 921
29 657
35 770
40 132 40 328
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
FY 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
SEKm
1 625
0.2
1 150
0.3
5 473
7.6
13 370
25
7 896
2 381
20
8 432
57
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
Q1 10
Ukraine
Russia
Lithuania
Lativa
Estonia
LCI
Retail

15. • Significant improvement
• Sweden still very low levels
• Small recoveries in Russia and
Ukraine
• Baltic countries
– Few new problems
– Property prices stabilise/increase
15
Asset quality
Development of credit impairments
6 845
6 672
6 121
5 003
2 210
-1 000
0
1 000
2 000
3 000
4 000
5 000
6 000
7 000
8 000
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10
SEKm
Retail LCI Baltic Banking Russia & Ukraine Other T

16. Conclusion
• Significant improvement of asset and liability risk profiles
• Economy gaining momentum
• Still areas of concern
– Exit strategy central banks
– Fiscal consolidations
• Swedbank’s resilience has vastly improved
16
191%
209%
290% of equity
251
188
172
106
0
50
100
150
200
250
300
Q4 08 Q4 09 Q1 10
117%
SEKbn
without Estonia
CEE lending
Private Corporate