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SEB's third quarter 2021 result

The operating profit for the third quarter 2021 amounted to SEK 8.0bn, with a return on equity of 14.1 per cent and a Common Equity Tier 1 capital ratio of 20.2 per cent.

“Throughout the pandemic, we have supported our customers while maintaining a strong financial position. Net profit increased compared to the previous quarter with net commission income close to the record high level seen last quarter and increased customer satisfaction among corporate, private and wealth management customers in Sweden. Our strong financial position allows capital repatriation, as the capital buffer exceeds both the regulatory requirement and our own target. SEB’s Board of Directors has decided to initiate a SEK 2.5bn share buyback program and to propose a further ordinary dividend of SEK 4.10 per share,” says Johan Torgeby, SEB’s President and CEO. 

 

Q3

 

Q2

 

Q3

 

Jan–Sep

 

Full year

SEK m

2021

 

2021

%

 

2020

%

 

2021

2020

%

 

2020

Total operating income

13 716

 

13 680

0

 

12 563

9

 

40 744

36 651

11

 

49 717

Total operating expenses

-5 671

 

-5 759

-2

 

-5 547

2

 

-17 148

-16 905

1

 

-22 747

Net expected credit losses

- 49

 

- 7

   

-1 098

-96

 

- 211

-5 282

-96

 

-6 118

Operating profit before
items affecting comparability

7 997

 

7 916

1

 

5 916

35

 

23 388

14 463

62

 

20 846

Items affecting comparability

                 

-1 000

-100

 

-1 000

Operating profit

7 997

 

7 916

1

 

5 916

35

 

23 388

13 463

74

 

19 846

NET PROFIT

6 634

 

6 574

1

 

4 766

39

 

19 225

10 623

81

 

15 746

                           

Return on equity, %

14.1

 

14.7

   

11.7

   

14.2

8.8

   

9.7

Return on equity excluding items affecting comparability, %

14.1

 

14.7

   

11.6

   

14.2

9.7

   

10.3

Basic earnings per share, SEK

3.06

 

3.04

   

2.21

   

8.88

4.91

   

7.28

 

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

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 20 October 2021.

SEB is a leading northern European financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in more than 20 countries worldwide. At 30 September 2021, the Group's total assets amounted to SEK 3,585bn while its assets under management totalled SEK 2,422bn. The Group has around 15,500 employees. Read more about SEB at sebgroup.com