Due to the Covid-19 pandemic, 2020 was a challenging year for most people, families and businesses. Thanks to a solid financial and liquidity situation, SEB entered 2020 from a position of strength, which enabled the bank to support its customers with credit requests, amortisation grace periods, tailored advice and other products and services to get through the crisis.
“Ever since 1856 we have been standing by our customers’ side in both good times and bad, and 2020 was no exception. We uphold our critical role in society and keep the wheels turning also in challenging times,” Marcus Wallenberg says in the Statement from the Chair of the Board.
The Annual and Sustainability Report for 2020 marks the first time the sustainability report as well as the sustainability notes and GRI index have been integrated with the annual report, highlighting the importance of sustainability to SEB.
The report includes information about SEB’s work to transform its own business and support its customers to transition as well as the bank’s commitments in regards to the UN Sustainable Development Goals and the Paris Agreement. Special focus has been put on describing SEB’s approach to climate change as well as on how the bank manages its direct and indirect climate impact, in line with the recommendations from the Task Force for Climate-related Financial Disclosure, TCFD.
“The ongoing green transition affects SEB as well as our customers and we are committed to supporting our customers in their transition,” Johan Torgeby says in the Statement from the President and CEO. “We work to align our business with our continuously increasing standards through product innovation, classification of SEB’s credit portfolio based on greenhouse gas emissions, and development of our sustainability policy framework.”
Read the digital Annual and Sustainability Report, or download any of the reports, here: https://sebgroup.com/annualreport (not available in Microsoft Explorer)
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its 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 its presence in some 20 countries worldwide. At 31 December 2020, the Group's total assets amounted to SEK 3,040bn while its assets under management totalled SEK 2,106bn. The Group has around 15,500 employees Read more about SEB at https://www.sebgroup.com