Swedbank AB announced group and parent earnings results for the first quarter ended March 31, 2013. For the quarter, on group basis, the company reported net interest income of SEK 5,353 million against SEK 4,895 million a year ago. Total income was SEK 9,082 million against SEK 9,072 million a year ago. Operating profit was SEK 4,894 million against SEK 4,801 million a year ago. Profit for the period from continuing operations was SEK 3,918 million against SEK 3,693 million a year ago. Profit for the period attributable to the shareholders of the company was SEK 3,525 million or SEK 3.19 diluted per share against SEK 3,410 million or SEK 3.10 diluted per share a year ago. Return on equity was 13.0% against 14.4% a year ago. Cash flow from operating activities was SEK 83,191 million against cash out flow from operating activities of SEK 4,907 million for the same period in the last year. Acquisitions of other fixed assets and strategic financial assets was SEK 55 million against SEK 1,842 million for the same period in the last year. The return on equity was 13.8% against 14.1% and the return on equity for continuing operations was 15.3% against 15.3% a year ago.

On parent basis, the company reported net interest income of SEK 5,091 million against SEK 6,654 million a year ago. Total income was SEK 4,842 million against SEK 5,701 million a year ago. Operating profit was SEK 1,374 million against SEK 2,605 million a year ago. Profit for the period was SEK 959 million against SEK 1,936 million a year ago. Cash flow from operating activities was SEK 69,712 million against SEK 12,665 million for the same period in the last year.

The company announced impairments for the first quarter ended March 31, 2013. For the quarter, the company reported credit impairment of SEK 60 million and impairment of tangible assets of SEK 85 million.

The company provided earnings guidance for the full year of 2013. It expected to continue to plan for an environment with low interest rates and weak credit demand. The company's intention is to maintain total expenses at the same level in 2013 as in 2012, with slightly lower expenses during the first half-year compared with the second. The company continues to focus on profitability and capital efficiency at the same time that it will invest in a better customer experience and development opportunities for the employees.