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Standard & Poor’s upgrades Swedbank’s rating

17-10-2006 14:00

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The rating institute Standard & Poor’s has decided to upgrade the long term rating for Swedbank to A+ (from A). The short-term rating is unchanged at A-1. The outlook is stable.

According to Standard & Poor’s the higher rating reflects:
-the strengthening of the group’s management of risks in the Baltic operations following the successful integration of Hansabank
-the reorientation of the group’s international strategy over the last few years
-the sustained improvement in financial performance in the past three years
-the Groups consistently strong asset quality.

For further information:
Mikael Inglander, Chief Financial Officer, Swedbank, phone: +46 8 5859 1314
Jan Lilja, Head of Group Treasury, Swedbank, phone: +46 8 5859 1019