• Startpage
• 2007 in brief
• This is Swedbank
• Letter from the Chair
• President's statement
• Vision and strategy
• Market shares Sweden
• Market shares Baltic region
• Five-year summary
• Business areas
• Employees
• Sustainable development
• The share and owners
• Board of Directors' report
• Board of Directors and Group Executive Management
• Corporate governance report
• Distribution of earnings
• Annual General Meeting

• Addresses
• Contacts
• Definitions

Best year ever for Swedbank

Swedbank is in robust shape; in 2007 we recorded our highest ever profit, our balance sheet remained strong, and we continued to develop our leadership position in our home markets.

Inevitably, we have not been immune to changing investor sentiment towards the financial services sector caused by the current turmoil in the world’s financial markets, or to reassessments of the outlook for certain emerging markets, including the Baltic economies. Notwithstanding these pressures, I remain confident in our positioning and strategy for the coming year and beyond.

Strategy for generating shareholder value

Swedbank is committed to a growth strategy, generating shareholder value by expanding from our Swedish base and establishing a leading presence in selected markets with high potential for growth. Our development in the Baltic states demonstrates the success of our strategy, giving cause for similar optimism with regard to Ukraine, and also Russia. We know the value of gaining customers’ confidence at an early stage of economic development, maintaining this through strong efforts, and developing our business.

The growth strategy remains unchanged

Our commitment in Estonia, Latvia and Lithuania is for the long term, and we also have high expectations for Ukraine and Russia. In Sweden, Swedbank will continue to lead the market by being first with initiatives that develop the market and the offering to customers. In the Baltic states and Ukraine we will look to blend Swedish products and approaches with local capabilities to contribute to the development of financial services provision, as well as to position ourselves to react quickly to opportunities arising from consolidation in these regions.

Strong heritage of local involvement

It is part of Swedbank’s heritage to be active and committed in communities where we have operations, both at the local and national level. We have worked this way for generations in Sweden and want to work in the same way in our other markets. We are involved in the public debate and maintain a dialogue with politicians and decision makers. In Sweden, this dialogue is focused on the standing of the financial sector in public perception, as well as its prospects for growth. In the Baltic states, it involves, amongst other things, emphasising the importance of sound economic policies in continuing the region’s dynamic development profile.

Swedbank, the savings banks and the foundations associated with the savings banks are involved, in various ways, in cultural, educational, athletic and social activities. Through our commitment and presence, we strengthen relationships, make our voice heard and improve insight into the prerequisites of successful banking.

Confident about 2008

Conditions in financial markets remain unsettled and Europe is at risk of being affected by a recession in the US; however, I remain more confident than concerned regarding the trend for the Swedbank group in 2008.

Stockholm, March 2008

Carl Eric Stålberg

Chair of the Board