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STOCKHOLM - Swedbank AB (OTC:SWDBY) has released its Annual and Sustainability Report for 2024, highlighting a strong financial performance with a return on equity of 17.1% and a cost-to-income ratio of 0.34. The bank’s Board of Directors proposed a dividend of SEK 21.70 per share, underlining its profitability and commitment to returning value to stakeholders including savings banks, insurance companies, pension funds, individual investors, and foundations.
The bank has also reported significant progress in its sustainability initiatives. Swedbank’s Sustainable Funding Framework saw a 70% increase in qualified sustainable assets, with 36% of the bonds arranged in 2024 being sustainable. Furthermore, Swedbank has taken proactive steps in financial education by providing personal finance education to 100,000 children and young people in Sweden through the Young Economy initiative.
In a move to enhance transparency and comparability in sustainability reporting, Swedbank voluntarily applied the Corporate Sustainability Reporting Directive (CSRD) ahead of schedule. The directive aims to improve the reliability of sustainability reporting.
Investments in technology and customer service were also highlighted, with Swedbank accelerating its advisory platform, cloud-based communication platform, and end-to-end lending process improvements. These enhancements are part of Swedbank’s commitment to simplifying its customers’ financial lives.
President and CEO Jens Henriksson expressed satisfaction with the 2024 results and the bank’s support for customers and society. He also mentioned the upcoming Annual General Meeting on March 26, where further details on the bank’s business development will be shared.
The complete Annual and Sustainability Report for 2024 is available on Swedbank’s website. This article is based on a press release statement.
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