Go to search feature Go to content

You need to use a different browser. To be able to use our internet services, you can instead use one of these browsers: Apple Safari, Google Chrome, Microsoft Edge or Mozilla Firefox.

Read more about recommended browsers

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, 31 March 2022

 

Long-term funding raised, SEK bn, 31 March 2022

Instrument 2017 2018 2019 2020 2021
2022 Q1
Cover bonds 55 67 81 78 41 35
Senior unsecured 20 34 40 28 20  
Senior non-preferred     11 11 10 11
Subordinated debt 5   9   5  
Total 80 101 140 117 75 45

 

Long-term funding maturity profile, SEK bn, 31 March 2022

31 March 2022                  
Product * <1y 1-2y 2-3y 3-4y 4-5y 5-7y 7-10y >10y Total
Mortgage covered bonds, SEK 59 53 54 37 41 0 5 4 253
Mortgage covered bonds, non-SEK 21 0 10 13 0 23 0 0 67
Senior unsecured 38 27 21 12 7 0 0 1 105
Senior non-preferred 0 0 0 0 10 20 10 0 39
Subordinated debt ** 6 9 0 8 5 0 0 0 28
Total 124 89 85 70 62 42 14 4 492


* 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