Interim Report January-March, 1999

Interim Report January-March, 1999 Reduced risk, increased earnings The total result *) of the SEB Group for the first quarter of 1999 amounted to SEK 2,036 M (SEK 2,851 M). The operating result was SEK 1,643 M (SEK 2,477 M). The 1998 first-quarter result included capital gains of SEK 1,395 M from Trygg-Hansa. Adjusted for items that make a comparison difficult, the result increased by 7 per cent. A reduction of the risk level continued. Practically the whole of Trygg- Hansa's equity portfolio was sold. Merchant Banking reported increased income, particularly within customer- related business. Increased income and continued investments in the growth areas Asset Management, Financial Services and IT, including the Internet. The number of Internet customers increased to 260,000 (122,000). Excluding these investments, costs remained unchanged. Return on equity (including surplus values in life insurance operations) was 17.9 per cent (26.2 per cent). Total result per share after tax was SEK 2.51 (SEK 3.34). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/29/19990429BIT00500/bit0001.doc The full report http://www.bit.se/bitonline/1999/04/29/19990429BIT00500/bit0002.pdf The full report