As previously communicated, SEB has as of 1 January 2025 consolidated the divisions Private Wealth Management & Family Office, Asset Management and Life into one division – Wealth & Asset Management. With the new divisional structure, SEB will have four divisions: Corporate & Investment Banking, Business & Retail Banking, Wealth & Asset Management and Baltic. Restatement of the segment information for the new organisation has been made for 2023 and 2024 and is enclosed in the attached document.
The restatement also includes a changed presentation of amortisation of premium or discount for inflation-linked bonds, which was previously presented within Net financial income, and now is in its entirety presented in Net interest income as from 1 January 2025. The interest accrual will remain as interest income while the inflation component, previously reported as net financial income, also will be recognised as Net interest income. Restatement has been made for 2024 and is enclosed in the attached document.
From 1 January 2025, SEB has also changed the presentation of portfolio hedges attributable to mortgage loans (assets). The fair value adjustment for the hedged item previously presented as liabilities is moved to a separate line item next to the hedged asset. Restatement has been made for 2024 and is enclosed in the attached document.
The restatement does not affect SEB’s net profit or equity for these years.
Revised financial statements (pdf)
Revised financial statements (xlsx)