Swedbank’s Progress Report: Navigating Towards a Sustainable 2025 Vision

Swedbank’s Progress Report: Navigating Towards a Sustainable 2025 Vision

(IN BRIEF) In 2023, Swedbank made significant progress toward its strategic goals outlined in the “Swedbank 15/25” business plan, aiming for a sustainable return on equity by 2025. The bank focused on adapting its operations to prioritize key customer segments, streamline its business, and establish strategic partnerships. Notably, Swedbank emphasized sustainability by issuing a EUR 500 million social bond, offering green loans, and intensifying efforts to combat cyber threats and financial fraud. These initiatives underscored the bank’s commitment to sustainable finance and societal well-being.

(PRESS RELEASE) STOCKHOLM, 22-Feb-2024 — /EuropaWire/ — During the fiscal year 2023, Swedbank (STO: SWED-A), a Nordic-Baltic banking group, made significant strides in its “Swedbank 15/25” business plan aimed at achieving a sustainable return on equity of at least 15 percent by 2025. Notable achievements include organizational adaptations to foster growth in key customer segments, streamlining of business operations, and forging strategic partnerships. The bank’s commitment to sustainability was also underscored by pivotal initiatives throughout the year.

In response to evolving economic landscapes marked by security concerns, sustainability imperatives, and inflation mitigation strategies by central banks, Swedbank remained steadfast in its support for customers. President and CEO Jens Henriksson emphasized the institution’s dedication to providing unparalleled market offerings, contributing to sustainability, generating value for stakeholders, and ensuring profitability. “Swedbank is there for customers in both better and worse times. We shall have the best overall offer on the market and contribute to sustainability. At the same time, we create value for owners and society through the dividends generated. A sustainable bank is a profitable bank,” remarked Henriksson.

A hallmark achievement for Swedbank in 2023 was becoming the first Nordic bank to issue a EUR 500 million social bond. Designed to facilitate lending to enterprises fostering positive social development, this bond exemplifies the bank’s commitment to responsible finance. Additionally, Swedbank expanded its suite of financial services to include energy advisory services and green loans, with initiatives like 0% interest margin green loans in Estonia and Latvia gaining substantial traction among customers.

“Sustainability is at the core of our business strategy. We maintain our momentum in working for a long-term socially and environmentally sustainable society by strengthening and developing our customer offering,” affirmed Johanna Fager Wettergren, Head of Sustainability at Swedbank.

Acknowledging the persistent threat of cybercrime and fraudulent activities, Swedbank intensified its efforts to safeguard customers and uphold the integrity of financial systems. Henriksson highlighted the bank’s robust measures against financial crime, emphasizing the importance of public-private collaboration in combating money laundering, terrorist financing, and fraud. “The fight against financial crime is ultimately about a sustainable society. Swedbank is acting vigorously against external threats, including by combating money laundering, terrorist financing and fraud. Cooperation between the public and private sectors has also been further strengthened in 2023.”

As Swedbank continues its journey towards sustainable profitability and societal impact, the bank remains committed to delivering value, fostering resilience, and driving positive change in the communities it serves.

For 2023 the following reports are now available for download on swedbank.com:

•    Swedbank Annual and Sustainability Report 2023 (PDF), as well as in European Single Electronic Format (ESEF)
•    Risk and Capital Adequacy Report 2023 (PDF)
•    Factbook ESG/Sustainability (xlsx)

Contact:
Annie Ho, Head of Investor Relations,+46 70 343 78 15
Hannes Mård, Media Relations Manager, +46 73-057 41 95

This information constitutes inside information that Swedbank is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, February 22, 2024, at 12:00 CET.

SOURCE: Swedbank Group