Skandinaviska Enskilda Banken : SEB's third quarter 2021 result

The operating profit for the third quarter 2021 amounted to SEK 8.0bn, with a return on equity of 14.1 per cent and a Common Equity Tier 1 capital ratio of 20.2 per cent.

"Throughout the pandemic, we have supported our customers while maintaining a strong financial position. Net profit increased compared to the previous quarter with net commission income close to the record high level seen last quarter and increased customer satisfaction among corporate, private and wealth management customers in Sweden. Our strong financial position allows capital repatriation, as the capital buffer exceeds both the regulatory requirement and our own target. SEB's Board of Directors has decided to initiate a SEK 2.5bn share buyback program and to propose a further ordinary dividend of SEK 4.10 per share," says Johan Torgeby, SEB's President and CEO.

	Q3		Q2			Q3			Jan-Sep				Full year
SEK m	2021		2021	%		2020	%		2021	2020	%		2020
Total operating income	13 716		13 680	0		12 563	9		40 744	36 651	11		49 717
Total operating expenses	-5 671		-5 759	-2		-5 547	2		-17 148	-16 905	1		-22 747
Net expected credit losses	- 49		- 7			-1 098	-96		- 211	-5 282	-96		-6 118
Operating profit before items affecting comparability	7 997		7 916	1		5 916	35		23 388	14 463	62		20 846
Items affecting comparability										-1 000	-100		-1 000
Operating profit	7 997		7 916	1		5 916	35		23 388	13 463	74		19 846
NET PROFIT	6 634		6 574	1		4 766	39		19 225	10 623	81		15 746
Return on equity, %	14.1		14.7			11.7			14.2	8.8			9.7
Return on equity excluding items affecting comparability, %	14.1		14.7			11.6			14.2	9.7			10.3
Basic earnings per share, SEK	3.06		3.04			2.21			8.88	4.91			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 20 October 2021.

For further information, contact:

Masih Yazdi, CFO
[phone]

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

Frank Hojem, 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 September 2021, the Group's total assets amounted to SEK 3,585bn while its assets under management totalled SEK 2,422bn. Read more about SEB at https://www.sebgroup.com

https://news.cision.com/seb/r/seb-s-third-quarter-2021-result,c3436298

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