Skandinaviska Enskilda Banken AB (OM:SEB A) commences an Equity Buyback Plan for 151,183,852 shares, representing 6.84% of its issued share capital, under the authorization approved on March 19, 2024.
March 24, 2024
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Skandinaviska Enskilda Banken AB (publ) (OM:SEB A) commences share repurchases on March 20, 2024 under the program mandated by the shareholders in the Annual General Meeting held on March 19, 2024. As per the mandate, the company is authorized to repurchase its 151,183,852 shares, representing 6.84% of its issued share capital, such that the company may purchase at the most so many shares that it?s total holding of own shares do not exceed 10% of the total number of shares. The shares may be used as consideration for acquisitions of companies or businesses or in order to finance acquisitions of companies or businesses. The company will repurchase the shares for capital purposes, for long-term equity programs and for transfer to participants of 2023 and the previous year's long-term equity program. The program will be valid till the next Annual General Meeting in 2025. As of February 19, 2024, the company has 2,139,983,495 issued shares (excluding treasury) and 69,793,886 Class A-shares in treasury.
On March 19, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to 42,800,000 shares of Class A shares, for SEK 2,000 million. Repurchased shares will be cancelled. The share buyback program is expected to commence on March 20, 2024, and end on July 12, 2024, at the latest.
Skandinaviska Enskilda Banken AB (SEB) is a banking group. Operating income (including intragroup) breaks down by activity as follows:
- market, finance, and investment banking (41%): financial intermediation, financing for structured projects, investment fund management, etc.;
- retail and corporate banking (30.3%): sale of standard and specialized banking products and services (lease-credit, consumer credit, etc.);
- investment funds management (5.1%);
- private banking (5%) ;
- other (7.9%) primarily life insurance and retirement savings management.
The remaining operating income (10.7%) is from the activity ensured in the Baltic States.
At the end of 2022, the group had SEK 1,701.7 billion in current deposits and SEK 2,065.3 billion in current loans.
Skandinaviska Enskilda Banken AB (OM: SEB A) commences an Equity Buyback Plan for 151,183,852 shares, representing 6.84% of its issued share capital, under the authorization approved on March 19, 2024.
ENSKILDA BANKEN 
