28 Apr 2021 07:00

SEB's first quarter 2021 result

The operating profit for the first quarter 2021 amounted to SEK 7.5bn with a return on equity of 13.8 per cent and a Common Equity Tier 1 capital ratio of 20.3 per cent.

"The overall concern observed last year in the global economy has been replaced by an increased optimism. This in turn affected several parts of SEB’s business and the operating result improved by 17 per cent in the quarter. Asset quality was strong and the net expected credit losses are expected to normalise already in 2021 based on the improved macroeconomic outlook. The capital buffer was 780 basis points above the requirement,” says Johan Torgeby, President and CEO.

Financial information

Q1Q4Jan–MarFull year
SEK m20212020%20212020%2020
Total operating income13 34713 0662 13 34710 08932 49 717
Total operating expenses-5 718-5 842-2 -5 718-5 6461 -22 747
Net expected credit losses- 156- 835-81 - 156-1 494-90 -6 118
Operating profit before
items affecting comparability
7 4756 38217 7 4752 950153 20 846
Items affecting comparability-1 000
Operating profit7 4756 38217 7 4752 950153 19 846
NET PROFIT6 0185 12317 6 0182 355156 15 746
Return on equity, %13.812.
Return on equity excluding items affecting comparability, %13.812.
Basic earnings per share, SEK2.782.372.781.097.28

You can download the Quarterly Report, Results Presentation and Fact Book from https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.

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 around 7.00 am CET, on 28 April 2021.

For further information, contact:

Masih Yazdi, CFO
+46 771 62 10 00

Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111

Karin Lepasoon, Head of Group Marketing and Communication
+46 771 62 10 00

Henrik Westman, Acting Head of Corporate Communication
+46 70 763 5134   

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. 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 March 2021, the Group's total assets amounted to SEK 3,443bn while its assets under management totalled SEK 2,243bn. The Group has around 15,500 employees. Read more about SEB at sebgroup.com