SEB: Third quarter 2013 - Operating profit SEK 4,618m (3,857)

        SEB: Third quarter 2013 - Operating profit SEK 4,618m (3,857)

"During the third quarter, we saw increasing activity on the corporate side
and despite a continued high level of economic uncertainty globally, the
corporate community showed emerging optimism. As a corporate bank, we have
responded to the improved business sentiment", says Annika Falkengren, SEB's
President and CEO, commenting on the third quarter.

"Operating profit was 20 per cent higher than last year's third quarter, with
a continued trend of increased revenues and lower costs. We continue to grow
in our core areas, as well as to attract more customers."

"With our strong balance sheet, we can support corporate customers if the
business cycle further improves. Our capital situation and liquidity resources
have been further strengthened, which also creates resilience if the economy
were to decline or market uncertainty to increase."

Operating income amounted to SEK10.3bn, which was 7 per cent higher than the
third quarter last year but 3 per cent down on the previous quarter. Operating
expenses, at SEK5.5bn, were 3percent lower from a year ago and 2 per cent
lower than the previous quarter. Operating profit amounted to SEK 4.6bn, which
was up 20 per cent from the third quarter 2012 but down 3 per cent from the
previous quarter.

Provisions for credit losses amounted to SEK0.3bn, corresponding to a net
credit loss level of 8bps. Non-performing loans were 30 per cent lower than a
year ago.

The liquidity coverage ratio was 114percent, the core liquidity reserve
amounted to SEK438bn and the total liquid resources were SEK702bn.

The Core Tier 1 capital ratio was 17.4percent according to current
regulation. The Common Equity Tier 1 ratio was 15.0 per cent (Basel 3).

Return on equity in the quarter was 13.4percent and earnings per share

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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,
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 September 2013, the Group's total assets amounted
to SEK2,569 billion while its assets under management totalled SEK1,427
billion. The Group has around 16,000 employees. Read more about SEB at 

Interim Report January – September 2013


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Source: SEB via Thomson Reuters ONE
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