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Pressrelease | 2012-10-25

Interim report 1 January – 30 September 2012 Continued stable development of underlying operating profit

SBAB Bank’s CEO, Carl-Viggo Östlund, comments:
During the quarter, SBAB reported a continued solid earnings trend. Operating profit, excluding net result of financial instruments, was once again higher than in the preceding quarter. However, market-value changes of financial instruments caused an adverse impact on the overall operating result. We foresee continued strong demand for mortgages, primarily in our lending to tenant-owner associations. Lower expenses compared with the preceding quarter confirm that our increased effort to take a proactive approach to cost control is generating results.

We have long been a challenger in the mortgage market and will continue on this path under
the current expansion of our customer offering. We are at the cutting edge of developments
in mobile-phone payments and, during the past quarter, we worked on pilot tests to
guarantee the technology and security ahead of the next step. We now offer retail loans for
everyone, not just those with SBAB mortgages as was previously the case.

Our straightforward and competitive savings accounts continued to attract many new
customers during the third quarter. Backed by a market share of 21% during the first eight
months of the year, we are cementing our position as the leading company in new retail
deposits. Meanwhile, a higher share of funding through deposits enables us to achieve a
better balance between various funding sources – which is entirely in line with our overall
funding strategy.

At SBAB, we aim to offer a banking experience that no one thought was possible and to
change the view of what a bank can be. We are doing this for the sake of our customers and
to pose a challenge to the major banks. We are here to create a new era in banking.

The interim period January–September 2012 compared with January–September 2011

  • Operating profit, excluding net result of financial instruments measured at fair value, was
    SEK 839 million (606).
  • Net interest income amounted to SEK 1,450 million (1,160).
  • Expenses totalled SEK 533 million (490).
  • The net effect of loan losses was a negative SEK 3 million (pos: 20).
  • Net expense from financial instruments measured at fair value was SEK 611 million
    (expense: 539).
  • Operating profit totalled SEK 228 million (67).
  • New lending amounted to SEK 24.8 billion (21.1) and deposits increased to SEK 24.6
    billion (8.8*).
  • The core Tier 1 capital ratio was 16.2% (15.0*) without taking the transitional regulations
    into account and 6.7% (6.7*) taking the transitional regulations into account.
  • During the first eight months of the year, SBAB Bank had a share of 21% in the market
    for new deposits from retail customers.

* For balance sheet items and information concerning capital adequacy, all comparative figures in parentheses refer to the figures at the preceding year-end.

The third quarter of 2012 compared with the second quarter of 2012

  • Operating profit, excluding net result of financial instruments measured at fair value, was
    SEK 318 million (311).
  • Net interest income amounted to SEK 499 million (522).
  • Expenses totalled SEK 157 million (175).
  • The net effect of loan losses was a positive SEK 2 million (neg: 11).
  • Net expense from financial instruments measured at fair value amounted to SEK 130
    million (expense: 91).
  • Operating profit was SEK 188 million (220).
  • New lending amounted to SEK 8.1 billion (8.5) and deposits increased to SEK 24.6 billion
    (18.3).

SBAB Bank’s Interim report is available for download from: www.sbab.se/investor

For further information, please contact:

Carl-Viggo Östlund, CEO, SBAB Bank
Telephone: +46 8 614 43 01, Mobile: +46 727 17 43 01, carl-viggo.ostlund@sbab.se

Bernd Schmitz, Chief Press Officer, SBAB Bank
Telephone: +46 8 614 43 94, Mobile: +46 727 44 43 94, bernd.schmitz@sbab.se