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    SEB A   SE0000148884

SKANDINAVISKA ENSKILDA BANKEN AB

(SEB A)
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Delayed Nasdaq Stockholm  -  05/25 06:59:58 am EDT
110.40 SEK   +0.23%
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Skandinaviska Enskilda Banken : Seb's Third Quarter 2020 Result

10/22/2020 | 01:16am EDT
TIDMSEBA 
 
 
 
 
   Press release 
 
   Stockholm, 22 October 2020 
 
   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 SEK 6bn for 2020 remains. We have a 
strong capital and liquidity position and the capital buffer above the 
common equity tier 1 regulatory requirement amounted to 580 basis 
points. Despite some light at the end of the tunnel, uncertainty still 
remains. It continues to be our highest priority to support our 
customers,", says Johan Torgeby, President and CEO. 
 
 
 
 
                                                                                             Full 
                                    Q3         Q2           Q3             Jan--Sep           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 comparability(1)          -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. 
 
 
   You can download the Quarterly Report, Results Presentation and Fact 
Book from 
https://www.globenewswire.com/Tracker?data=kuAGAkibFmL4LXhjmq0iwYf3UHrz4yZpxgS5EPGmeouZBcg0e1aDXikpep59_rKSSRMTM5nvO4XV5DbG3smQYdyTxQ_uCT6DmYmZz1zc2uQrJnXjCUymN4aargWeDD9Wal19dKmtUgoZO-ZV388WmatTnI6vKTmTZXKZ9AGu_q7j4ZOHLXTFWOwxdyzgBh5e0hKYdP8DH9j4sYGoQm6XGXlvY_RjgV3faQ2Zc4TvD1b_7OoypSihyRicXKxsaizG 
https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports. 
 
 
   For further information, please contact 
 
   Masih Yazdi, CFO, +46 771 621 000 
 
   Pawel Wyszynski, Head of Investor Relations, +46 70 462 21 11 
 
   Frank Hojem, Head of Corporate Communication, +46 70 763 99 47 
 
   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 22 October 
2020. 
 
 
 
   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 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 its presence in 
some 20 countries worldwide. At 30 September 2020, the Group's total 
assets amounted to SEK 3,201bn while its assets under management 
totalled SEK 2,054bn. The Group has around 15,000 employees. Read more 
about SEB at sebgroup.com 
 
   Attachment 
 
 
   -- Quarterly report Q3 2020 
      https://ml-eu.globenewswire.com/Resource/Download/1c2fe090-27a7-43be-a7dd-3d8efe43ea95 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

10-22-20 0115ET

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Financials
Sales 2022 57 256 M 5 798 M 5 798 M
Net income 2022 22 997 M 2 329 M 2 329 M
Net Debt 2022 - - -
P/E ratio 2022 10,3x
Yield 2022 5,19%
Capitalization 237 B 24 033 M 24 033 M
Capi. / Sales 2022 4,14x
Capi. / Sales 2023 4,00x
Nbr of Employees 16 066
Free-Float 72,3%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 110,40 SEK
Average target price 123,90 SEK
Spread / Average Target 12,2%
EPS Revisions
Managers and Directors
Johan Torgeby President, Chief Executive Officer & Director
Masih Yazdi Chief Financial Officer
Marcus Wallenberg Chairman
Nicolas Moch Chief Information Officer
Petra ┼lund Head-Technology