Following a year that was dominated by the pandemic, contracting economies and the challenges that this brought along for people, businesses and societies, 2021 developed into a year of recovery. During 2021, financial markets were solid, household economies sound, the business environment favourable and companies highly active. This was reflected in SEB’s financial results for the year, with an operating profit that increased significantly compared with 2020.
Last year marked the end of SEB’s 2019-2021 business plan, which was focused on advisory leadership, operational excellence and extended presence. The Annual and Sustainability Report includes information about the progress in those areas, as well as information about SEB’s new 2030 Strategy and related business plan for 2022-2024, through which SEB aims to future-proof the bank.
“At SEB, we aspire to be a long-term partner to our customers while continuously adapting to an ever-changing environment. Curiosity and receptiveness to our customers’ evolving needs are essential to our value creation. As the megatrends of digitalisation and sustainability put greater demands on us, our customers and society, we are committed to act with the long term in mind. With this ambition as a foundation, we will use our financial strength and competent employees to support our customers on their transition journeys,” Marcus Wallenberg says in the Statement from the Chair in the Annual and Sustainability Report.
Based on SEB’s 2030 Strategy, the bank will focus on four main areas going forward: acceleration of efforts, strategic change, strategic partnerships, and efficiency improvement. The new business plan for 2022-2024 details how SEB aims to execute in these four areas.
“We continuously strive to develop our capabilities and leverage trends transforming the banking industry to meet our customers’ changing needs and behaviours. Going forward we will continue to strengthen our efforts, with particular focus on Corporate and Investment Banking, digitalisation, savings and investments, sustainability, and regulatory compliance. By further investing in our business, we aim to accelerate income growth and increase profitability – with the overall ambition to continue creating long-term shareholder value,” Johan Torgeby says in the Statement from the President and CEO.
Read the digital Annual and Sustainability Report, or download any of the reports, here: sebgroup.com/annualreport
Please note that the Annual and Sustainability Report for 2021 was completed prior to Russia’s invasion of Ukraine at the end of February 2022. You can find SEB’s comments on this topic at sebgroup.com.