Skandinaviska Enskilda Banken : SEB's second quarter 2021 result

The operating profit for the second quarter 2021 amounted to SEK 7.9bn with a return on equity of 14.7 per cent and a Common Equity Tier 1 capital ratio of 21.1 per cent.

"Our solid result reflects the signs of economic recovery and return of confidence among both corporates and households. Corporate customers were active, particularly within investment banking and equity capital markets. We also noted higher activity among private customers in most areas, including payments and savings. We have a strong capital position with a management capital buffer of 860 basis points. With net expected credit losses at zero basis points in the second quarter, we now foresee that the total for the full year of 2021 will be below the 8-10 basis points previously indicated" says Johan Torgeby, President and CEO.

	Q2		Q1			Q2			Jan-Jun				Full year
SEK m	2021		2021	%		2020	%		2021	2020	%		2020
Total operating income	13 680		13 347	2		13 999	-2		27 028	24 089	12		49 717
Total operating expenses	-5 759		-5 718	1		-5 712	1		-11 477	-11 358	1		-22 747
Net expected credit losses	- 7		- 156	-96		-2 691	-100		- 163	-4 185	-96		-6 118
Operating profit before items affecting comparability	7 916		7 475	6		5 598	41		15 391	8 547	80		20 846
Items affecting comparability						-1 000	-100			-1 000	-100		-1 000
Operating profit	7 916		7 475	6		4 598	72		15 391	7 547	104		19 846
NET PROFIT	6 574		6 018	9		3 501	88		12 591	5 856	115		15 746
Return on equity, %	14.7		13.8			8.7			14.2	7.4			9.7
Return on equity excluding items affecting comparability, %	14.7		13.8			11.2			14.2	8.6			10.3
Basic earnings per share, SEK	3.04		2.78			1.62			5.82	2.70			7.28

You can download the Quarterly Report, Results Presentation and Fact Book from https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.

This is information that Skandinaviska Enskilda Banken AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at around 7.00 am CET, on 15 July 2021.

For further information, contact:

Masih Yazdi, CFO
[phone]

Pawel Wyszynski, Head of Investor Relations
[phone]
[e-mail]

Karin Lepasoon, Head of Group Marketing and Communication
[phone]
[e-mail]

Henrik Westman, Acting Head of Corporate Communication
[phone]   
[e-mail]

SEB is a leading northern European financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. We take a long-term perspective and support our customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, 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 our presence in more than 20 countries worldwide, with around 15,500 employees. At 30 June 2021, the Group's total assets amounted to SEK 3,445bn while its assets under management totalled SEK 2,401bn. Read more about SEB at https://www.sebgroup.com

https://news.cision.com/seb/r/seb-s-second-quarter-2021-result,c3385298

https://mb.cision.com/Main/4324/3385298/1445159.pdf

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