SEB: SEB's second quarter 2019 result
The operating result for the second quarter 2019 amounted to SEK 6.1bn and return on equity, excluding items affecting comparability, was 13.9 per cent.
"SEB’s diversified business model remained favourable. Both corporate and private customers were active and lending volumes increased. The operating profit of SEK 6.1bn increased by 4 per cent compared with the first quarter this year. We have the financial strength needed to support our customers going forward”, says Johan Torgeby, President and CEO.
Financial information
| Q2 | Q1 | Q2 | Jan–Jun | Full year | |||||
| SEK m | 2019 | 2019 | % | 2018 | % | 2019 | 2018 | % | 2018 |
| Total operating income | 12 197 | 11 907 | 2 | 11 903 | 2 | 24 103 | 22 690 | 6 | 45 868 |
| Total operating expenses | -5 708 | -5 622 | 2 | -5 527 | 3 | -11 329 | -10 957 | 3 | -21 940 |
| Net expected credit losses | - 386 | - 422 | -9 | - 221 | 74 | - 808 | - 330 | 145 | -1 166 |
| Operating profit before items affecting comparability | 6 103 | 5 864 | 4 | 6 167 | -1 | 11 967 | 11 424 | 5 | 22 779 |
| Operating profit | 6 103 | 5 864 | 4 | 10 674 | -43 | 11 967 | 15 930 | -25 | 27 285 |
| NET PROFIT | 4 892 | 4 681 | 4 | 10 024 | -51 | 9 573 | 14 019 | -32 | 23 134 |
| Return on equity, % | 13.9 | 12.7 | 29.7 | 13.2 | 20.4 | 16.3 | |||
| Return on equity excluding items affecting comparability, % | 13.9 | 12.8 | 16.4 | 13.2 | 13.8 | 13.4 | |||
| Basic earnings per share, SEK | 2.26 | 2.16 | 4.63 | 4.43 | 6.48 | 10.69 | |||
You can download the Interim Report, Results Presentation and Fact Book from https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.
For further information, please contact
Masih Yazdi, Finance Director, +46 771 621 000
Christoffer Geijer, Head of Investor Relations, +46 70 762 10 06
Frank Hojem, Head of Media Relations, +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 7 am CET, on 12 July 2019.
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 June 2019, the Group's total assets amounted to SEK 2,912bn while its assets under management totalled SEK 1,932bn. The Group has around 15,000 employees. Read more about SEB at sebgroup.com