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  4. Swedbank sees income growth outpacing costs as eyes set on ROE boost
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Swedbank sees income growth outpacing costs as eyes set on ROE boost

STOCKHOLM (Reuters) - Swedbank said on Tuesday it would grow average annual income by 3 percentage points more than costs as it looked to boost returns on equity by 2025, driven...
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Swedbank sees income growth outpacing costs as eyes set on ROE boost © Reuters. FILE PHOTO: The Swedbank logo is pictured on its branch in Riga October 21, 2014. REUTERS/Ints Kalnins/File Photo

STOCKHOLM (Reuters) - Swedbank said on Tuesday it would grow average annual income by 3 percentage points more than costs as it looked to boost returns on equity by 2025, driven by a normalised interest rate environment and rising lending volumes and commissions.

The Swedish bank also said it expected to have generated around 300 basis points of capital in excess of its target management buffer of 200 basis points by 2025 as it outlined strategy for the coming years.

The rival of banks including Handelsbanken, SEB and Nordea said in a statement it would maintain its dividend policy of a 50% payout ratio and that any excess capital would be distributed to shareholders.

"A sustainable bank is a profitable bank. Our target is therefore to reach a 15% return on equity," Chief Executive Jens Henriksson said.

The bank, which is holding a capital markets day for investors and analysts on Tuesday, recorded a return on equity of 12.4% in the first nine months of this year.

With inflation running at its highest levels in decades, in part due to the war in Ukraine, central banks have hiked rates repeatedly this year, lifting interest income for Sweden's banks sharply but also squeezing households and businesses and hitting asset markets.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

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EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

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Copper Futures

4.5305

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81.14

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85.62

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US Coffee C Futures

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

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FTSE 100

8,144.13

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27.35

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266.60

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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RON 95-V25.44025.940
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KRW15,9219,31
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