Swedbank's third-quarter net profit fell 3% year-on-year to 8.25 billion Swedish crowns ($834.74 million), from 8.51 billion a year earlier. The result matched the mean forecast of 8.24 billion in a poll of analysts by LSEG. The bank submitted its interim report for publication on 22 October 2026 at 07:00 CEST.
Net interest income rose 7% to 11.57 billion crowns from 10.82 billion a year earlier, but came in below the estimated 11.82 billion. Compared with the second quarter, net interest income increased 3%, supported by higher business volumes and ECB rates. Net commission income rose 5% on strong customer activity.
PROVISION RELEASE LIFTS QUARTERLY RESULT
The quarter's profit was supported by a release of provisions worth 543 million crowns, tied to the sale of Entercard's non-performing loans. Investors viewed the credit-loss reversal as a low-quality driver, rather than a sign of underlying income momentum.
Swedbank described the third quarter of 2026 as one of a positive business climate and a strong financial result. President and CEO Jens Henriksson said: "Proactive work close to our customers creates business momentum."
RECORD ASSETS AND LOWER CAPITAL REQUIREMENT
Assets under management reached a record 2,989 billion crowns during the quarter. Separately, the CET1 requirement will fall from 15.1% to 14.1% in the fourth quarter of 2026.
CREDIT RISK MODELS APPROVED, BRAND RECOGNISED
Swedbank received approvals for its credit risk models in Sweden and the Baltics. After the quarter ended, it received approval for its Swedish mortgage IRB model and its Baltic corporate model. The bank was also recognised as the most loved brand in the Baltics for the eighth consecutive year.
STRATEGY TARGETS AND GROUP PROFILE
Management remains focused on its Swedbank 15/27 strategy, which targets a sustainable return on equity of at least 15% and a cost-to-income ratio of 0.4 or below. The bank's vision is a financially sound and sustainable society, and it says it empowers people and businesses to build a better future.
Swedbank Group is the leading bank in its four home markets of Sweden, Estonia, Latvia and Lithuania, with more than 7 million retail customers and 550 000 corporate customers. It is also present in other Nordic countries, the U.S. and China. The report contains inside information that the bank is obliged to make public under the EU Market Abuse Regulation (EU No 596/2014), with Maria Caneman, Head of Investor Relations, and Hannes Mård, Head of Press, listed as contacts.
Related: Sweden's Swedbank reports Q2 net profit of SEK 7.2 billion with adjusted ROE of 15.5%