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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 June 2022

 

Long-term funding raised, SEK bn, 30 June 2022

Instrument 2017 2018 2019 2020 2021
2022 Q2
Cover bonds 55 67 81 78 41 44
Senior unsecured 20 34 40 28 20 22
Senior non-preferred     11 11 10 11
Subordinated debt 5   9   5 5
Total 80 101 140 117 75 82

 

Long-term funding maturity profile, SEK bn, 30 June 2022

30 June 2022                  
Product * <1y 1-2y 2-3y 3-4y 4-5y 5-7y 7-10y >10y Total
Mortgage covered bonds, SEK 59 53 54 38 44 0 5 3 256
Mortgage covered bonds, non-SEK 11 10 0 13 15 8 0 0 57
Senior unsecured 50 17 32 13 18 0 0 1 131
Senior non-preferred 0 0 0 0 10 19 9 0 38
Subordinated debt ** 0 9 9 0 5 5 0 0 28
Total 120 90 95 64 92 32 14 4 511


* 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