Skandinaviska Enskilda Banken AB : Skandinaviska Enskilda Banken AB: First quarter 2013 - Operating profit SEK 3,717m (3,650) "SEB's results display stability in an environment marked by renewed uncertainty. In the restrained business sentiment, we have continued to attract new customers and strengthen our market franchise in all of our core markets." says Annika Falkengren, SEB's President and CEO, commenting on the first quarter. "The small and medium-sized corporates that are more directed towards the domestic Swedish economy have been more active. Lending to SMEs increased by 9per cent compared to a year ago and we have attracted 3400 new SME customers since year-end." "We continue to have strong resilience. Our liquid resources amount to 25 per cent of total assets. Also capital ratios have strengthened to 13.8 per cent (Basel 3) Common Equity Tier 1 ratio. Non-performing loans are below one per cent of total lending and the net credit loss level remains below 0.1 per cent." Operating income amounted to SEK9.6bn, which was unchanged from the first quarter last year. Operating expenses, at SEK5.6bn, were 3percent lower from a year ago. Operating profit amounted to SEK 3.7bn. Provisions for credit losses amounted to SEK0.3bn, corresponding to a net credit loss level of 7bps. The liquidity coverage ratio was 111percent, the core liquidity reserve amounted to SEK410bn and the total liquid resources were SEK685bn. The Core Tier 1 capital ratio was 15.3percent according to current regulation. According to Basel 3, the Common Equity Tier 1 ratio was 13.4 per cent and including the proposed dividend from the life business, it was 13.8 per cent. Return on equity was 11.0percent and earnings per share SEK1.37. Download Annika Falkengren's presentation here: http://www.sebgroup.com/Documents/Investor_Relations/Presentations/Interim/PressConference_2013_Q1.pdf Download Fact Book here: http://www.sebgroup.com/Documents/Investor_Relations/Factbook/2013_Q1_factbook.pdf 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 March 2013, the Group's total assets amounted to SEK2,580 billion while its assets under management totalled SEK1,374 billion. The Group has around 16,000 employees. Read more about SEB at http://www.sebgroup.com. Interim Report January - March 2013 ------------------------------------------------------------------------------ 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: Skandinaviska Enskilda Banken AB via Thomson Reuters ONE HUG#1695203
Skandinaviska Enskilda Banken AB : Skandinaviska Enskilda Banken AB: First quarter 2013 - Operating profit SEK 3,717m (3,650)
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