Annual Report 2016 - Swedbank

Mar 30, 2017 - its chief operating decision maker and the internal reports used by the ... current balance sheet, the application of the business model and the ...
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2016

Annual Report

Content 2 4 6 8 10 12 13 14 16 18 20

Swedbank in brief The year in brief CEO statement Strategy Goals and results Products and services Product areas and market Business model Employees Sustainability The share and owners

22 26 28 30 32 34

Board of Directors’ report Financial analysis Swedish Banking Baltic Banking Large Corporates & Institutions Group Functions & Other Risk management

38 50 54 56

Corporate governance report Board of Directors Group Executive Committee Disposition of earnings

58 59 60 61 62 63

Income, balance sheet and notes, Group: Income statement Statement of comprehensive income Balance sheet Statement of changes in equity Statement of cash flow Notes

136 137 138 139 140 141

Income, balance sheet and notes, parent company: Income statement Statement of comprehensive income Balance sheet Statement of changes in equity Statement of cash flow Notes

170

Sustainability Notes

181 182 186 187 188 189 192 195 197

Signatures of the Board of Directors and the CEO Auditors’ report Sustainability report – assurance report Annual General Meeting Market shares Five-year summary – Group Three-year summary – Business segments Definitions Addresses

Financial information 2017 Q1 Interim report 25 April Q2 Interim report

19 July

Q3 Interim report

24 October

Annual General Meeting 2017 The Annual General Meeting will be held at Folkets Hus, Barnhusgatan 14, Stockholm, Sweden on Thursday, 30 March at 11 am. The proposed record day for the dividend is 3 April 2017. The last day for trading in Swedbank’s shares including the right to the dividend is 30 March 2017. For more information, see page 187 and the notice of the AGM at www.swedbank.com. While every care has been taken in the translation of this annual report, readers are reminded that the original annual report, signed by the Board of Directors, is in Swedish.

Vision

We enable people, ­businesses and society to grow. Purpose

We promote a sound and ­sustainable financial ­situation for the many households and businesses. Values

The bank’s values express our engagement on long-term value creation. They are based on openness, simplicity and caring.

Swedbank Annual Report 2016

2 SWEDBANK IN BRIEF

Available full-service bank in four home markets Swedbank is the leading bank for the many households and businesses in our four home markets: Sweden, Estonia, Latvia and Lithuania. We are active mainly in the product areas loans, payments and savings and serve customers with both simple and more complex needs.

Sweden Population: 10.0 million Private customers: 4.0 million Corporate customers: 266 000 Organisations: 67 000 Branches: 248 Internet Bank customers: 4.1 million Mobile Bank customers: 2.8 million Cards: 4.2 million Employees: 7 714

Lithuania Population: 2.9 million Private customers: 1.5 million Corporate customers: 86 000 Branches: 65 Internet Bank customers: 1.4 million Mobile Bank customers: 0.2 million Cards: 1.7 million Employees: 2 053

Swedbank Annual Report 2016

Estonia Population: 1.3 million Private customers: 0.9 million Corporate customers: 141 000 Branches: 35 Internet Bank customers: 0.9 million Mobile Bank customers: 0.2 million Cards: 1.1 million Employees: 2 395

Latvia Population: 2.0 million Private customers: 0.9 million Corporate customers: 91 000 Branches: 41 Internet Bank customers: 0.9 million Mobile Bank customers: 0.2 million Cards: 1.0 million Employees: 1 570

3 SWEDBANK IN BRIEF

Large and diversified customer base

Solid capitalisation

8

25.0

Leading bank in number of customers in our ­home markets

MILLION CUSTOMERS