SEB’s Annual Accounts and results for the fourth quarter 2022

26 January 2023 07:01 3 minutes to read

SEB’s operating profit for the fourth quarter 2022 amounted to SEK 9.6bn, with a return on equity of 14.7 per cent, a CET1 capital ratio of 19.0 per cent, and a capital management buffer of 470 basis points. The Board of Directors proposes an ordinary dividend of SEK 6.75 per share and has resolved to utilise the authorisation granted by the 2022 Annual General Meeting to initiate a new quarterly share buyback programme of SEK 1.25bn.

“As we close the books for 2022, we look back at a year characterised by a tragic war in Europe, historically high energy prices, global inflationary pressure and central banks responding with rapid interest rate hikes,” says Johan Torgeby, SEB’s President and CEO. “During the fourth quarter, this unprecedented macroeconomic environment continued to impact customer sentiment and activity, with our results driven by strong trading activity and higher interest rates. With our solid earnings capacity, capital and liquidity buffers, we believe we are in a good position to continue to support our customers and invest in our business.”

Income statement

	Q4	Q3		Q4		Jan-Dec
SEK m	2022	2022	%	2021	%	2022	2021	%
Total operating income	18 829	16 551	14	14 127	33	64 589	55 638	16
Total operating expenses	-6 757	-6 293	7	-6 097	11	-25 044	-23 245	8
Net expected credit losses	- 506	- 567	-11	- 299	70	-2 007	- 510
Imposed levies: Risk tax and resolution fees	- 578	- 572	1	- 255	127	-2 288	-1 019	125
Operating profit before items affecting comparability	10 988	9 118	21	7 476	47	35 249	30 864	14
Items affecting comparability	-1 399					-1 399
Operating profit	9 590	9 118	5	7 476	28	33 850	30 864	10

NET PROFIT	7 434	7 311	2	6 198	20	26 989	25 423	6


Return on equity, %	14.7	14.9		12.9		13.8	13.9
Return on equity excluding items affecting comparability, %	17.4	14.9		12.9		14.5	13.9
Basic earnings per share, SEK	3.50	3.43		2.87		12.63	11.75

Comparative figures for 2021 have been restated. See section on restated comparative figures for further information.

This disclosure contains information that SEB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on January 26, 2023.

For further information, contact:
Masih Yazdi, CFO
+46 771 62 10 00

Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
pawel.wyszynski@seb.se

Niklas Magnusson, Head of Media Relations & External Communication
+46 70 763 8243
niklas.x.magnusson@seb.se