SEB : SEB: Full year - Operating profit SEK 14,235m (14,953); Fourth quarter - Operating profit SEK 2,839m (3,061) Excluding communicated items of a one-time character (22 January), operating profit amounted to SEK4.0bn (SEK 3.3 bn in the fourth quarter of 2011) and the full year operating profit was SEK 15.4bn (15.0) "Operating income in the quarter exceeded SEK 10bn which reflected a strong fee generation capacity. For the full year, profit before credit losses increased by 7per cent, excluding one-off items by 15 per cent." says Annika Falkengren, SEB's President and CEO, commenting on the Annual Accounts 2012. "As we close the former 3-year plan, SEB's platform is considerably stronger. We have attracted close to 300 large corporate clients in Merchant Banking and for the first time been recognised as the leading corporate bank in the Nordic region. We have clearly strengthened our position in the Swedish SME business with strong improvements of customer satisfaction." "Going forward, the long-term financial targets reflect our higher ambition of having the most satisfied customers and closing the financial performance gap to peers. On the cost side, we lower the cost-cap to SEK22.5bn for 2013 and 2014." Excluding communicated items of a one-time character (22 January), profit before credit losses amounted to SEK 4.3bn (SEK 3.3 bn in the fourth quarter of 2011). Operating income amounted to SEK10.0bn, up 8per cent compared to the fourth quarter 2011. Operating expenses, at SEK5.8bn, were 4percent higher than the fourth quarter 2011. Operating profit amounted to SEK 4.0bn. Including one-off items, operating income amounted to SEK9.6bn and operating expenses SEK6.5bn. Operating profit was SEK 2.8bn. Net profit amounted to SEK 3.2bn corresponding to a return on equity of 11.9 per cent. Provisions for credit losses amounted to SEK0.3bn, corresponding to a net credit loss level of 8bps. The liquidity coverage ratio was 113percent, the core liquidity reserve amounted to SEK373bn and the total liquid resources were SEK632bn. The Core Tier 1 capital ratio was 15.1percent (13.7 at year-end) according to current regulation. According to Basel III, the Common Equity Tier 1 ratio was 13.1 per cent. The Board proposes a dividend per share of SEK 2.75 corresponding to a pay-out ratio of 52 per cent of earnings per share at SEK 5.31 for the full year. Download Annika Falkengren's presentation Download Factbook For further information, please contact Jan Erik Back, CFO, +46 8 22 19 00 Ulf Grunnesjö, Head of Investor Relations, +46 8763 85 01; +46 70763 85 01 Viveka Hirdman-Ryrberg, Head of Corporate Communication, +468763 85 77, +46 70 550 35 00 SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 31 December 2012, the Group's total assets amounted to SEK2,453 billion while its assets under management totalled SEK1,328 billion. The Group has around 16,500 employees. Read more about SEB at http://www.sebgroup.com. Annual Accounts 2012 ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: SEB via Thomson Reuters ONE HUG#1674427
SEB : SEB: Full year - Operating profit SEK 14,235m (14,953); Fourth quarter - Operating profit SEK 2,839m (3,061)
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