- Operating profit for the fourth quarter, including one-off charges of SEK 890m, amounted to SEK 2,530m (2,712). Net profit for the quarter was SEK 1,920m (1,953). Charges are taken in order to accelerate the integration within SEB.
- Operating income rose by 20 per cent compared with the last quarter of 2004, while operating expenses increased by 31 per cent, primarily due to the above-mentioned charges.
- Operating profit for the full year 2005 increased by 12 per cent, to SEK 11,223m. Net profit increased by 14 per cent to SEK 8,421m (7,382).
- Net credit losses remained low, at 0.11 per cent.
- Return on equity was 15.8 per cent (14.7) and earnings per share increased by 16 per cent, to SEK 12.58 (10.83).
- The Board of Directors proposes a dividend of SEK 4.75 (4.35).
In her president's comment CEO Annika Falkengren says:
"2005 was a strong year for SEB. However, we need and can do more to improve operational efficiency by accelerating our efforts to fully realise the potential of the SEB platform."
"SEB's position is based on a strong customer franchise. Nonetheless, we are not satisfied. We will continue to strengthen customer relationships and establish a more competitive long-term cost base throughout the Group in order to promote sustainable profitable growth. Our ambitions are high. SEB strives to be the best North-European bank in terms of financial performance and customer satisfaction within its chosen segments!"
Since the Bank opened in 1856, generations of customers and employees have made SEB what it is today. This year the Group is celebrating 150 years of looking forward.
The SEB Group is a North European financial group for 400,000 corporate customers and institutions, and 5 million private customers. SEB has local presence in the Nordic and Baltic countries, Germany, Poland and the Ukraine. Approximately half of SEB's customers use the internet for their banking transactions. On 31 December 2005, the Group's total assets amounted to SEK 1,890bn while its assets under management totalled SEK 1,118bn. The Group is represented in some 20 countries around the world and has a staff of about 20,000. Read more about SEB at www.sebgroup.com.
For further information, please contact:
Per Anders Fasth, Head Communication & IR: +46 8 763 9566, +46 705 73 4550
Annika Halldin, Financial Information Officer: +468 763 8560, +46 70 379 0060
Viveka Hirdman-Ryrberg, Group Press Officer: +46 8 763 8577, +4670 550 3500
The full report including tables can be downloaded from the following link.