Interim report for ForeningsSparbanken (Swedbank) January -- September 2004

Continued high profitability and strong profit trend


STOCKHOLM, Sweden, Oct. 29, 2004 (PRIMEZONE) -- ForeningsSparbanken:

January -- September 2004 in summary:

- Profit for the period rose by 42 percent to SEK 6,708 M (4,719)

- The sale of FI-Holding was finalized and generated a capital gain of SEK 1,270 M

- Excluding capital gains, profit for the period rose by 25 percent to SEK 5,438 M (4,367)

- Operating profit rose by 29 percent to SEK 9,153 M (7,097)

- The return on equity rose to 21.6 percent (16.0)

- Earnings per share rose by 43 percent to SEK 12.74 (8.94)

- Total income rose by 10 percent to SEK 20,144 M (18,270)

- Net interest income rose by 2 percent to SEK 12,350 M (12,105)

- Net commission income rose by 19 percent to SEK 4,973 M (4,177)

- Excluding profit-based staff costs and costs for personnel changes, expenses decreased by 1 percent

- Loan losses decreased by 52 percent to SEK 396 M (832)

- ForeningsSparbanken was named Commercial Bank of the Year for the second consecutive year

This information was brought to you by Waymaker http://www.waymaker.net

The following files are available for download: The full report:

http://www.waymaker.net/bitonline/2004/10/29/20041029BIT20030/wkr0001.pdf


            

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