SEB's second quarter 2021 result

15 July 2021 07:03 5 minutes to read

The operating profit for the second quarter 2021 amounted to SEK 7.9bn with a return on equity of 14.7 per cent and a Common Equity Tier 1 capital ratio of 21.1 per cent.

“Our solid result reflects the signs of economic recovery and return of confidence among both corporates and households. Corporate customers were active, particularly within investment banking and equity capital markets. We also noted higher activity among private customers in most areas, including payments and savings. We have a strong capital position with a management capital buffer of 860 basis points. With net expected credit losses at zero basis points in the second quarter, we now foresee that the total for the full year of 2021 will be below the 8-10 basis points previously indicated” says Johan Torgeby, President and CEO.

	Q2	Q1		Q2		Jan–Jun			Full year
SEK m	2021	2021	%	2020	%	2021	2020	%	2020
Total operating income	13 680	13 347	2	13 999	-2	27 028	24 089	12	49 717
Total operating expenses	-5 759	-5 718	1	-5 712	1	-11 477	-11 358	1	-22 747
Net expected credit losses	- 7	- 156	-96	-2 691	-100	- 163	-4 185	-96	-6 118
Operating profit before items affecting comparability	7 916	7 475	6	5 598	41	15 391	8 547	80	20 846
Items affecting comparability				-1 000	-100		-1 000	-100	-1 000
Operating profit	7 916	7 475	6	4 598	72	15 391	7 547	*104*	19 846
NET PROFIT	6 574	6 018	9	3 501	88	12 591	5 856	*115*	15 746

Return on equity, %	14.7	13.8		8.7		14.2	7.4		9.7
Return on equity excluding items affecting comparability, %	14.7	13.8		11.2		14.2	8.6		10.3
Basic earnings per share, SEK	3.04	2.78		1.62		5.82	2.70		7.28

You can download the Quarterly Report, Results Presentation and Fact Book from https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.

For further information, please contact

Masih Yazdi, CFO, +46 771 621 000

Pawel Wyszynski, Head of Investor Relations, +46 70 462 21 11

Karin Lepasoon, Head of Group Marketing and Communication, +46 771 621 000

Henrik Westman, Acting Head of Corporate Communication, +46 70 763 51 34

This is information that Skandinaviska Enskilda Banken AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at around 7.00 am CET, on 15 July 2021.