BoA Merrill Lynch Banking & Insurance CEO Conference 2012 Michael Wolf, CEO
Strong balance sheet enables focus on operations • Low risk in balance sheet – still to be fully recognised • Capital increasingly a “positive” problem • Conservative liability and liquidity management Ratio Swedbank Expected requirements CT1-ratio, Basel 3 16.6% 10% (2013) 12% (2015) Liquidity coverage ratio 152% 100% (2015) EUR/USD Net stable funding ratio 91% 100% (2018) 2
15% ROE target in low interest rate and growth environment • Costs – Well on track for SEK1bn cost reduction in 2012 – No cost increase 2013 • Repricing – Mortgage book – Corporate – Baltic • RWA – Expecting new mortgage riskweight of ~15% – Expecting gradual RWA reduction of SEK 40-50bn in corporate book 3
New environment for lending and savings • Asset repricing to continue • More focus on DCM • Increasing savings competition • Continued rationalising in Asset Management Relations increasingly important 4
Moving towards a cashless society • E-channels importance continue to increase • Growth in card products • Higher productivity – lower costs • Higher valued services 5
Continuing on our set path • Profitability before growth • Low risk • Stay in our four home markets • Promoting a sound and sustainable financial situation for the many households and businesses 6
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