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
"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
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
Return on equity was 11.0percent and earnings per share SEK1.37.
Download Annika Falkengren's presentation here:
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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
Interim Report January - March 2013
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Source: Skandinaviska Enskilda Banken AB via Thomson Reuters ONE
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