Annual and Sustainability Report 2022
We connect ideas, people and capital to drive progress. March 1, 2023, we published our Annual and Sustainable report for 2022.
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Our overall ambition is to be a leading corporate and investment bank in northern Europe with international reach, providing our products and services to retail customers in Sweden and the Baltics in a digital format, with a human touch in moments that matter. Coming from a position of strength, we will accomplish this by accelerating our investments. This will enable us to continue to create long-term value for our shareholders.
As outlined in our 2030 Strategy, we will build our focus, rethink and investments in the following four main areas going forward: Acceleration of efforts, Strategic change, Strategic partnerships, and Efficiency improvement.
While the 2030 Strategy defines what we want to achieve in order to future-proof our business and accelerate income growth potential, our three-year business plan for 2022–2024 – which is updated annually – further details how we aim to get there.
SEB’s business plan for 2022–2024 builds on the four pillars of our 2030 Strategy, which in turn is our response to structural market trends within our industry. This means that developments related to for example technology, sustainability, corporate and investment banking, savings and investments, and risk management are the basis for our efforts going forward.
By combining high customer satisfaction and strong employee engagement with a solid financial position including capital, liquidity, and cost control, we aim to continue to deliver long-term value to our shareholders.
Read more about our 2030 Strategy and Business Plan in the Annual report.
As we have adapted our strategy over time, our ambition has been to accelerate income growth and increase our profitability. This ambition will continue to guide us also going forward.
Below are our long-term financial targets for the SEB Group.
Our aim is to create shareholder value – by accelerating income growth, driving earnings per share growth, increasing our profitability and future-proofing our business. This will be achieved by capitalising on our position of strength and by further investing in our business, as outlined in our business plan for 2022–2024. The target entails growing our business in a capital-efficient manner to reach our long-term financial targets.In the short-term, we have a cost target for 2023 of SEK 26.5-27bn, assuming 2022 FX-rates.