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    SEB A   SE0000148884

ENSKILDA BANKEN

(SEB A)
  Report
Delayed Nasdaq Stockholm  -  11:29:55 2023-01-27 am EST
123.90 SEK   +1.47%
01/26European Companies Feeling the Pinch of Inflation -- At a Glance
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01/26Transcript : Skandinaviska Enskilda Banken AB, 2022 Earnings Call, Jan 26, 2023
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Nordea profit tops consensus, outlook improves

10/20/2022 | 12:45am EST
FILE PHOTO: Nordea bank logo is seen at the bank's headquarters in Stockholm

STOCKHOLM (Reuters) - Finnish banking group Nordea posted third-quarter operating earnings just above market expectations on Thursday on the back of rising interest income and said its outlook for the full year had improved.

The Nordic region's biggest bank reported an operating profit of 1.30 billion euros ($1.27 billion) in the quarter, up from 1.27 billion a year ago, beating the mean forecast of 1.26 billion in a Refinitiv poll of analysts.

Rampant inflation and rapidly tightening monetary policy is lifting interest income for Nordic banks while the mounting costs for households and businesses, and slumping real estate markets, have yet to translate into a meaningful rise in loan losses from marginal levels.

Interest income at Nordea, which has sizable operations in all the four biggest Nordic countries, rose 15% year-on-year to 1.41 billion euros in the July-September quarter to come in above the 1.35 billion seen by analysts.

Earlier this week, Swedish rival Handelsbanken reported record earnings on the back of a surge in interest income while reassuring about credit quality ahead.

The Nordea group, created through the merger of several Nordic banks just over two decades ago, raised its full-year outlook somewhat, forecasting a cost-to-income ratio of 48-49% versus the previous 49-50%.

It kept unchanged guidance for a return on equity above 11% in 2022.

($1 = 1.0238 euros)

(Reporting by Niklas Pollard, editing by Terje Solsvik)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENSKILDA BANKEN 1.47% 123.9 Delayed Quote.3.29%
NORDEA BANK ABP 0.90% 121.2 Delayed Quote.8.52%
SVENSKA HANDELSBANKEN AB 0.05% 108.05 Delayed Quote.2.81%
SWEDBANK AB 2.34% 196.45 Delayed Quote.10.80%
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Analyst Recommendations on ENSKILDA BANKEN
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Financials
Sales 2022 62 147 M 6 022 M 6 022 M
Net income 2022 26 227 M 2 541 M 2 541 M
Net Debt 2022 - - -
P/E ratio 2022 10,1x
Yield 2022 5,23%
Capitalization 262 B 25 412 M 25 412 M
Capi. / Sales 2022 4,22x
Capi. / Sales 2023 3,85x
Nbr of Employees 16 500
Free-Float 72,9%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 123,90 SEK
Average target price 135,94 SEK
Spread / Average Target 9,72%
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Managers and Directors
Johan Torgeby President, Chief Executive Officer & Director
Marcus Wallenberg Chairman
Nicolas Moch Chief Information Officer
Petra ┼lund Head-Technology
AuÜra Matuseviciene Head-Operations
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