SEB publishes restated comparative figures for the years 2020-2021 to reflect organisational changes, including the formation of SEB’s new division Private Wealth Management & Family Office, as well as presentation changes. The restatement does not affect SEB’s net profit or equity for these years.
The main reorganisations reflected in the restated comparative figures are:
- Private Wealth Management & Family Office, previously included in the division Corporate & Private Customers, is now reported as a separate division and reporting segment.
- The Life division’s sales unit is transferred to division Corporate & Private Customers, thereby simplifying the structure and strengthening the distribution power.
- Institutional Asset Management is moved from division Large Corporates & Financial Institutions to division Investment Management in order to accelerate growth pace.
Presentation changes as of 1 January 2022 include:
- A new reporting line, Imposed levies, is added to the income statement and presented after Net expected credit losses. Within Imposed levies, the new Swedish risk tax on banks is presented as well as resolution fees, which were previously presented in Net interest income.
- The line Gains less losses from tangible and intangible assets is removed.
- Amortization of premium or discount for bonds in the trading book and liquidity portfolio, which was previously presented within Net financial income, is now presented in Net interest income.
The restated comparative figures are available here.
For further information, contact:
Per Andersson, Acting Head of Investor Relations
+46 70 667 74 81
Frank Hojem, Head of Corporate Communication
+46 70 763 9947
SEB is a leading northern European financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. We take a long-term perspective and support our customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, 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 our presence in more than 20 countries worldwide, with around 15,500 employees. At 31 December 2021, the Group's total assets amounted to SEK 3,304bn while its assets under management totalled SEK 2,682bn. Read more about SEB at https://www.sebgroup.com