"With SEB's diversified business mix, we can support our customers and deliver sustainable profitable growth also in the prevailing complex environment. Despite many worrying tendencies and events on a global scale, there are also reasons to be more optimistic on growth in the world economy. Just as seen towards the end of last year, business sentiment has continued to grow more positive which was reflected in the financial markets during the quarter. This resulted in a solid start of the year for SEB", says Johan Torgeby, SEB's President and CEO, commenting on the quarterly result.
The operating profit for the first quarter 2017 was SEK 5.5bn (5.6) and return on equity 12.2 per cent (12.2). Excluding items affecting comparability, which occurred in 2016, return on equity was 11.7 per cent (11.8).
Operating income for the first quarter amounted to SEK 11.2bn (11.6). Compared to the first quarter 2016, operating income increased by 10 per cent. Operating expenses amounted to SEK 5.4bn, a decrease of 5 per cent compared to the previous quarter (5.7).
Asset quality remained strong. The net credit loss level was 5 basis points for the quarter (8). The liquidity coverage ratio was 133 per cent (168 at year-end). The capital position continued to strengthen with a Common Equity Tier 1 capital ratio of 18.9 per cent (18.8 at year-end). Our own assessment of the CET1 requirement, including the maturity floor and corporate risk weights, was 17.0 per cent.
You can download the Interim report, Press Conference Presentation and Fact Book for the first quarter at https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.
For further information, please contact
Jan Erik Back, CFO, +46 8 22 19 00
Jonas Söderberg, Head of Investor Relations, +46 8 763 83 19; +46 73 521 02 66
Viveka Hirdman-Ryrberg, Head of Corporate Communication, +46 8 763 85 77, +46 70 550 35 00
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 7 am CET, on 27 April 2017.
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. At 31 March 2017, the Group's total assets amounted to SEK 2,927bn while its assets under management totalled SEK 1,800bn. The Group has around 15,000 employees. Read more about SEB at http://www.sebgroup.com.