SEB completes sale of SEB Pension in Denmark
Following the approval by the Danish Competition Council, Konkurrencerådet, on 30 May 2018, and as earlier communicated on 14 December 2017, SEB divests all shares in SEB Pensionsforsikring A/S and SEB Administration A/S (SEB Pension) to Danica Pension Livsforsikringsaktieselskab (Danica), a subsidiary to Danske Bank.
All conditions for the sale have been fulfilled and the business including employees, customer contracts and systems are transferred from SEB to Danica on 7 June 2018.
The capital gain from the transaction amounted to SEK 3.6bn at closing, and will be presented under items affecting comparability (IAC) in the Q2 2018 income statement. The effect on key group financial ratios, on a pro-forma basis per January - March 2018, would have been limited. The Common Equity Tier 1 ratio would have improved by 0.6 percentage points to 19.6 per cent.
Please see link to a pro-forma financial summary for January - March 2018, excluding SEB Pension in Denmark.
| For further information, please contact |
Viveka Hirdman-Ryrberg, Head of Group Communications
+46 8 763 8577, +46 70 550 3500
Christoffer Geijer, Head of Investor Relations
+46 8 763 8319, +46 70 762 1006
|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 UK 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. On March 31, 2018, the Group's total assets amounted to SEK 2,903 billion while its assets under management totalled SEK 1,854 billion. The Group has around 15,000 employees. Read more about SEB at http://www.sebgroup.com.|