Handelsbanken. Lennart Francke, Head of Accounting and Control. UBS Annual Nordic Financial Service Conference August 25, 2005

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1 Handelsbanken Lennart Francke, Head of Accounting and Control UBS Annual Nordic Financial Service Conference August 25, 2005

2 UBS Annual Nordic Financial Service Conference Handelsbanken, first half-year 2005 Expansion outside of Sweden Insurance Market position in Sweden 2

3 Income statement, January - June Change SEK m % Net interest income Net commission income Net gains/losses on items at fair value Other income Total income Staff costs Other expenses Total expenses Profit before loan losses Loan losses Disposal of tangible and intangible assets Operating profit

4 Loans to the public - Sweden, quarterly Average volumes Q2 Q1 Q4 Q3 Q2 SEK bn Mortgage loans Private Corporate Bank loans Private Corporate Total Sweden Private Corporate

5 Lending to the general public, quarterly Average volumes Q2 Q1 Q4 Q3 Q2 SEK bn Sweden Other regional banks Private Corporate Rest of world Private Corporate Total Private Corporate

6 Net interest margin - Variable rate household deposits SEK SEK bn 90 Average volumes Margins 2,70% ,38% 2,47% 2,39% 2,31% 2,20% 2,04% 1,84% 1,86% 1,77% 2,50% 2,30% 2,10% 1,90% 65 1,70% 60 1,44% 1,44% 1,42% 1,41% 1,35% 1,50% 55 1,30% 50 1,10% 45 6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q ,90%

7 Key ratios, January - June Return on equity after full tax 16,6 % 16,7 % Cost/income before loan losses 43,2 % 42,8 % Net earnings per share, SEK 7:68 7:21 Moving 12-month 15:02 7

8 Capital base and capital ratio SEK bn ,5% 9,9% 9,3% 10,2% 10,0% 10,0% Tier II ,4% 6,1% 6,4% 7,3% 7,6% 7,0% Tier I June

9 Return on shareholder s equity % 30 Handelsbanken Other listed banks Return on shareholder s equity after standard tax. As reported.

10 Growth and capital management Organic growth will always be first option Acquisitions will be used when suitable Financially positive on RoE/EPS 3 year basis In markets we know Easily digested Management resources available Willing target No cultural dilution Share buy-back has been and will be used as a tool for continuos fine-tuning of the capital structure 10

11 Performance for 50 branches opened outside Sweden Average annual profit * per branch, SEKm rd yr of operations After 3 years a new branch reports average profit of SEK 4.6m. After 9 years the corresponding figure is SEK 21.7m. 50 branches 34 branches 27 branches 22 branches 17 branches 13 branches 10 branches 5th yr of operations 7th yr of operations 9th yr of operations * Average annual profit before loan losses. Profits

Branches outside Sweden 1993 13 branches 1996 27 branches 1999 46

12 Branches outside Sweden branches branches branches branches 2004 June 109 branches 2005 June 123 branches 12

13 Branch office operations outside Sweden Avergare volumes Jan-Jun Jan-Jun Change SEK bn % Lending Private Coporate Deposits Private Corporate No. of branches Refers to branch operations in Denmark, Finland, Norway and Great Britain incl. Handelsbanken Finans 13

14 Branch office operations outside Sweden lending in local currency Average volumes Jan-Jun 2005 Jan-Jun 2004 Change % Denmark, DKK bn Finland, EUR bn 6,5 6,1 7 Norway, NKK bn Great Britain, GBP m

15 Branch offices outside Sweden - Profit before loan losses Jan-Jun mnkr Norway Denmark Finland Great Britain Total Incl. Handelsbanken Finans

16 Business area Pension & Insurance, January - June SEK m Administration result Risk result Financial result Other 9 19 Operating profit Pension & Insurance includes Handelsbanken Liv, Euroben and from Q3, 2004 SPP Liv Fondförsäkring AB. It also includes amortisation of intangible assets and interest expense on debenture loans.. 16

17 Business area Pension & Insurance excl. SPP Fondförsäkring AB SEK m Jan-jun Administration result Risk result Financial result Other Operating profit and 2005 according to IAS / IFRS. 17

18 The Swedish life insurance market - premium income SEK bn 120 1,1 Total market ,9 1,3 34,2 1,2 1,4 26,7 22,1 1,6 22,8 Annual Growth 15,5% ,4 7,5 5,3 1,4 11,8 5,4 1,9 19,3 5,7 1,9 27,3 10,3 13,3 15,4 17,6 20,6 40,5 8,6 31,3 51 9,2 36,6 10,9 61,8 10,4 57 9,4 9,4 61,1 63, Occupational pensions Privately paid pensions Endowment insurance Private health insurances Occupational pensions Annual Growth 19%

19 Strong position in Sweden Market leader lending to companies market share in excess of 30% Increased market shares in household deposits and mutual funds Market leader in Structured Products in excess of 30% market share Major player in pension and life insurance products In excess of 25% market share lending to households 19

20 Households new savings Q1 Bank deposits, traditional insurance, unit-linked insurance, mutual funds, PPM, retail bonds. Acc. new savings, SEK m Handelsbanken Föreningssparbanken Nordea SEB 0 Q Q Q Q Q Q Q Q Q Q Q Source: SEB Sparbarometern New savings are defined as deposits minus withdrawals for the period.

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