SEB : SEB: Second quarter 2013 - Operating profit SEK 4,783m (3,889) "SEB's second quarter result is a testimony to the investments we have made over the past years in our franchise and broader customer base", says Annika Falkengren, SEB's President and CEO, commenting on the second quarter. "This quarter we saw a cautiously more positive business sentiment among our customers with activity levels picking up. SEB has continued to attract customers in all markets." "We have further added to our strong capital ratios and at the same time improved return on equity. We stay true to our strong belief that long-term customer relationships drive competitive and sustainable profitability." Operating income amounted to SEK10.6bn, which was 7 per cent higher from the second quarter last year and 11 per cent up on the previous quarter. Operating expenses, at SEK5.6bn, were 3percent lower from a year ago and unchanged from the previous quarter. Operating profit amounted to SEK 4.8bn, up 23 per cent from the second quarter 2012 and 29 per cent from the previous quarter. Provisions for credit losses amounted to SEK0.3bn, corresponding to a net credit loss level of 9bps. Non-performing loans were 24 per cent lower than a year ago. The liquidity coverage ratio was 114percent, the core liquidity reserve amounted to SEK411bn and the total liquid resources were SEK686bn. The Core Tier 1 capital ratio was 16.1percent according to current regulation. The Common Equity Tier 1 ratio was 14.2 per cent (Basel 3). Return on equity in the quarter was 14.0percent and earnings per share SEK1.73. Download Annika Falkengren's presentation here: http://www.sebgroup.com/Documents/Investor_Relations/Presentations/Interim/PressConference_2013_Q2.pdf Download Fact Book here: http://www.sebgroup.com/Documents/Investor_Relations/Factbook/2013_Q2_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 30 June 2013, the Group's total assets amounted to SEK2,596 billion while its assets under management totalled SEK1,387 billion. The Group has around 16,000 employees. Read more about SEB at http://www.sebgroup.com. Interim Report April - June 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: SEB via Thomson Reuters ONE HUG#1716316
SEB : SEB: Second quarter 2013 - Operating profit SEK 4,783m (3,889)
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