SEB’s Q2 2017 results

The operating profit for the second quarter 2017 was SEK 5.7bn (5.5) and return on equity 13.2 per cent (12.2). Excluding items affecting comparability, which occurred in 2016, return on equity was 12.7 per cent (11.7).

"As business sentiment continued to grow more positive, customer activity increased in all segments and markets where we operate. With SEB’s diversified business mix, we can support our customers and deliver sustainable profitable growth also in the prevailing complex environment. In the second quarter, operating income and operating result increased both compared to last year and the first quarter this year”, says Johan Torgeby, SEB’s President and CEO, commenting on the quarterly result.

The operating profit for the second quarter 2017 was SEK 5.7bn (5.5) and return on equity 13.2 per cent (12.2). Excluding items affecting comparability, which occurred in 2016, return on equity was 12.7 per cent (11.7).

Operating income for the second quarter amounted to SEK 11.4bn (11.2). Compared to the second quarter 2016, operating income increased by 2 per cent. Operating expenses amounted to SEK 5.5bn (5.4). Compared to the second quarter 2016, operating expenses increased by 3 per cent.

Asset quality remained strong. The net credit loss level was 6 basis points for the quarter (5). The liquidity coverage ratio was 120 per cent (168 at year-end). The capital position remained strong with a Common Equity Tier 1 capital ratio of 18.9 per cent (18.8 at year-end). SEB’s own assessment of the CET1 requirement, including the maturity floor and corporate risk weights, was 17.0 per cent.