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SEB : SEB: Second quarter 2013 - Operating profit SEK 4,783m (3,889)

     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

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Source: SEB via Thomson Reuters ONE
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