SEB’s operating profit for the first quarter 2025 amounted to SEK 10.0bn, with a return on equity of 13.4 per cent, a CET1 capital ratio of 17.5 per cent, and a capital buffer of 280 basis points.
“During the quarter, the lower net interest income was offset by other income lines. We saw higher customer activity, and hence an increase in both net fee and commission income and net financial income from the Corporate & Investment Banking division compared to the previous quarter. This is a testament to our well diversified business model,” says SEB’s President and CEO Johan Torgeby.
Overall asset quality was stable, despite somewhat higher reserves.
The announcement of new trade tariffs led to notable market turbulence at the beginning of the second quarter. These developments have raised concerns globally about both economic growth and inflation.
“SEB is one of the most well-capitalised banks in Europe, with a strong liquidity position. This makes us well-positioned against unforeseen events and enables us to continue supporting our customers and the economy at large,” says Johan Torgeby.
| Income statement | ||||||||||
| Q1 | Q4 | Jan-Mar | Full-year | |||||||
| SEK m | 2025 | 2024 | % | 2025 | 2024 | % | 2024 | |||
| Total operating income | 19 822 | 19 985 | -1 | 19 822 | 20 682 | -4 | 81 887 | |||
| Total operating expenses | 8 241 | 8 688 | -5 | 8 241 | 7 160 | 15 | 30 949 | |||
| Net expected credit losses | 663 | 377 | 76 | 663 | 73 | 886 | ||||
| Imposed levies | 964 | 851 | 13 | 964 | 1 133 | -15 | 4 009 | |||
| Operating profit | 9 954 | 10 069 | -1 | 9 954 | 12 316 | -19 | 46 043 | |||
| NET PROFIT | 7 824 | 7 493 | 4 | 7 824 | 9 503 | -18 | 35 865 | |||
| Return on equity, % | 13.4 | 13.2 | 13.4 | 17.2 | 16.2 | |||||
| Basic earnings per share, SEK | 3.89 | 3.69 | 3.89 | 4.60 | 17.51 | |||||
This disclosure contains information that SEB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-04-2025 06:30 CET.
About the interim report Q1 2025
Listen to SEB’s President and CEO Johan Torgeby, together with CFO Christoffer Malmer, as they share insights and key takeaways from the 2025 Q1 results.