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Debt investors

Funding strategy

Access to the funding and liquidity markets is vital in all circumstances. SEB’s funding and liquidity strategy is managed from three perspectives:

  • optimising the liquidity structure of the balance sheet to ensure that less liquid assets are matched with stable funding
  • monitoring wholesale funding dependence, and
  • ensuring that the bank has sufficient liquidity reserves to withstand a severely stressed scenario

SEB’s funding consists of deposits from customers as well as long-term and short-term funding in the financial markets. SEB’s long-term funding structure and maturity profile is described below.

Funding structure, 30 September 2021

 

Long-term funding raised, SEK bn, 30 September 2021

Instrument 2014 2015 2016 2017 2018 2019 2020 Q1 2021 Q2 2021 Q3 2021
Cover bonds 60 55 62 55 67 81 78 8 13 11
Senior unsecured 32 40 74 20 34 40 28     13
Senior non-preferred           11 11   10  
Subordinated debt 17   8 5   9        
Total 109 95 145 80 101 140 117 8 23 24

 

Long-term funding maturity profile, SEK bn, 30 September 2021

30 September 2021                  
Product * <1y> 1-2y 2-3y 3-4y 4-5y 5-7y 7-10y >10y Total
Mortgage covered bonds, SEK 54 59 49 51 34 30 3 6 285
Mortgage covered bonds, non-SEK 11 11 11   13 8     54
Senior unsecured 28 52 22 7 7     1 116
Senior non-preferred           20 10   30
Subordinated debt ** 5   9 8         22
Total 98 116 90 66 53 59 13 6 503


* Excluding public covered bonds.
** Tier 2 and Additional Tier 1 issues assumed to be called at first call date.

Debt programs

SEB's debt programs consist mainly of a global MTN program for senior debt and covered bonds and a SEK MTN program for SEK covered bonds.

Read more about the debt programs

Covered bonds

As part of its wholesale funding, SEB issues covered bonds through the parent company, Skandinaviska Enskilda Banken AB (publ), which are secured by Swedish residential mortgages.

Read more about the covered bonds and the cover pool

SEB’s green bonds

In a world with ever-increasing awareness on climate concerns, the green bond raises industry engagement by encouraging investments in sustainable projects, processes and technologies.

Read more about SEB’s green bond