The operating profit for the fourth quarter 2020 amounted to SEK 6.4bn with a return on equity of 12.2 per cent and a Common Equity Tier 1 capital ratio of 21 per cent. The operating profit for 2020 amounted to
"Throughout the year, our financial strength has enabled us to support our customers. Despite the challenging economic environment, SEB's business model proved resilient during the year, delivering operating income in local currencies that was broadly unchanged compared to 2019. However, the pandemic affected the income composition, weighing negatively on SEB's debit and credit card business, while at the same time the increase in volatility supported the Fixed Income, Currencies and Commodities business. The net interest income increased by 10 per cent during the year while the net expected credit losses amounted to 26 basis points.
With the objective to create further financial flexibility to better support our customers over time, we have revised our financial targets for the Group and share repurchases will be the main form of capital distribution when the capital buffer exceeds and is projected to remain above the target range," says Johan Torgeby, President and CEO.
Financial information
[]
Q4 Q3 Q4 Jan-Dec
SEK m 2020 2020 % 2019 % 2020 2019 %
Total operating 13 12 4 14 -7 49 717 50 -1
income 066 563 089 134
Total operating -5 -5 5 -6 -3 -22 747 -22 -1
expenses 842 547 026 945
Net expected - 835 -1 -24 - 997 -16 -6 118 -2 167
credit losses 098 294
Operating profit 6 382 5 916 8 7 063 -10 20 846 24 -16
before 894
items affecting
comparability
Items affecting -1 000
comparability[1)]
Operating profit 6 382 5 916 8 7 063 -10 19 846 24 -20
894
NET PROFIT 5 123 4 766 7 5 831 -12 15 746 20 -22
177
Return on equity, 12.2 11.7 15.5 9.7 13.7
%
Return on equity 12.1 11.6 15.5 10.3 13.8
excluding
items affecting
comparability, %
Basic earnings 2.37 2.21 2.70 7.28 9.33
per share, SEK
1) Administrative
fine issued
by the Swedish
FSA. See note
8.
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
For further information, contact:
+46 771 62 10 00
+46 70 462 2111
pawel.wyszynski@seb.se
+46 771 62 10 00
karin.lepasoon@seb.se
+46 70 763 9947
frank.hojem@seb.se
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In
https://news.cision.com/seb/r/seb-s-year-end-report,c3274604
https://mb.cision.com/Main/4324/3274604/1364022.pdf
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