Press release
The operating profit for the third quarter 2020 amounted to SEK 5.9bn with a return on equity of 11.7 per cent and a Common Equity Tier 1 capital ratio of 19.4 per cent. The Board of Directors confirms its previous decision to not propose a dividend during 2020.
"Despite the challenging economic environment, SEB delivered a robust financial performance. Higher net interest income, lower expenses and lower credit losses were offset by valuation effects that came down from the elevated level in the second quarter. We continue to see limited effects from the pandemic on the asset quality and the guidance on net expected credit losses of around
Q3 | Q2 | Q3 | Jan–Sep | Full year | |||||||||
SEK m | 2020 | 2020 | % | 2019 | % | 2020 | 2019 | % | 2019 | ||||
Total operating income | 12 563 | 13 999 | -10 | 11 942 | 5 | 36 651 | 36 045 | 2 | 50 134 | ||||
Total operating expenses | -5 547 | -5 712 | -3 | -5 589 | -1 | -16 905 | -16 918 | 0 | -22 945 | ||||
Net expected credit losses | -1 098 | -2 691 | -59 | - 489 | 124 | -5 282 | -1 297 | -2 294 | |||||
Operating profit before items affecting comparability | 5 916 | 5 598 | 6 | 5 864 | 1 | 14 463 | 17 831 | -19 | 24 894 | ||||
Items affecting comparability1) | -1 000 | -100 | -1 000 | ||||||||||
Operating profit | 5 916 | 4 598 | 29 | 5 864 | 1 | 13 463 | 17 831 | -24 | 24 894 | ||||
NET PROFIT | 4 766 | 3 501 | 36 | 4 772 | 0 | 10 623 | 14 346 | -26 | 20 177 | ||||
Return on equity, % | 11.7 | 8.7 | 13.2 | 8.8 | 13.1 | 13.7 | |||||||
Return on equity excluding items affecting comparability, % | 11.6 | 11.2 | 13.2 | 9.7 | 13.2 | 13.8 | |||||||
Basic earnings per share, SEK | 2.21 | 1.62 | 2.21 | 4.91 | 6.64 | 9.33 | |||||||
1) Administrative fine issued by the Swedish FSA. See note 6. |
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Attachment
- Quarterly report Q3 2020
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