SEB has divested its entire holding of shares in MasterCard Inc, representing less than 0.2 per cent of the company's share capital. The holding in SEB Kort dates back to when MasterCard was a memberowned organisation whereas it today is listed on the New York Stock Exchange.
The estimated capital gain after tax of SEK 1.1bn will be recorded in the third quarter interim report. As the holding has been marked-to-market over equity and included in Other Comprehensive Income, the size of book equity for SEB Group will be unaffected. The positive impact on the capital ratios is estimated at 20 basis points, which at the end of June pro forma would have resulted in a Common Equity Tier 1 capital ratio and Total capital ratio of 16.2 per cent and 20.7 per cent, respectively.
The divestment has no effect on the business of SEB's card operations. SEB offers corporate customers a broad range of products and services, where efficient payment solutions form an important part. SEB is the leading provider of corporate cards in the Nordic countries, with nearly four million cards issued under brands such as Eurocard, MasterCard, Visa and Diners Club.
| For further information, please contact Viveka Hirdman-Ryrberg, Head of Corporate Communication +46 8 763 8577, + 76 70 550 3500 Ulf Grunnesjö, Head of Investor Relations +46 8 763 8501, +46 70 763 8501 | |
| SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany 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 some 20 countries worldwide. On June 30, 2014, the Group's total assets amounted to SEK 2,654 billion while its assets under management totalled SEK 1,605 billion. The Group has about 16,000 employees. Read more about SEB at www.sebgroup.com | |