Press

SEB’s traditional insurance has invested in a new bond that aims to alleviate the social and economic impact of the COVID-19 pandemic. 

SEB’s President and CEO Johan Torgeby gives an update on the socioeconomic effects of the corona crisis and the bank’s actions to support its customers.

Read about Dominga Colmán, one of 6.6 million entrepreneurs in emerging countries that has been able to develop their business with money from SEB’s second microfinance fund.

As the COVID-19 pandemic spread continues, we are seeing increasingly
widespread lockdowns, with extremely fast and negative effects on economies and growth. To offset this, unprecedented stimulus packages by central banks as well as governments are being unveiled. 

The COVID-19 pandemic has rapidly changed forecasting conditions. Due to lockdowns around the world, a deep economic recession is inevitable, says SEB's Håkan Frisén, Head of Economic Forecasting, in an updated forecast. 

SEB has arranged the issuance of a social bond of SEK 3bn. The money will support underserved communities in developing countries, including countries affected by the coronavirus. 

The spread of the coronavirus and its effects are continuing to impact the world’s
financial markets. Yet for long-term investors, we still see good reasons to
wait out the turmoil, says Roger Törnkvist and Pernilla Busch in a market commentary. 

“We have strong mutual trust. SEB has shown a keen interest in our business, and we have an open and honest dialogue,” says Martin Kommes, CFO of Klädesholmen Seafood AB.

“As a bank we have a great societal responsibility and must make sure that the customers who need it get support, help and strength to weather the storm we are facing,” comments Johan Torgeby, SEB’s president and CEO, in an interview where he speaks about what the bank does to protect operations and keep open for customers.

The WHO has declared the COVID-19 coronavirus outbreak a pandemic. Roger Törnkvist and Pernilla Busch comment on the course of events.