TIDMSEBA 
 
   Press release 
 
   Stockholm, 15 Juli 2020 
 
   SEB's second quarter 2020 result 
 
   The operating profit before items affecting comparability for the second 
quarter 2020 amounted to SEK 5.6bn with a return on equity of 11.2 per 
cent and a Common Equity Tier 1 capital ratio of 17.8 per cent. 
 
   "Despite some signs of increasing optimism, the overall economic 
situation continued to be characterised by uncertainty and unknowns. The 
consequences of the Covid-19 pandemic influenced the reported financial 
results, while the underlying business continued to show resilience. 
Financial markets recovered but the positive effect was partly offset by 
higher net expected credit losses. Operating profit before items 
affecting comparability increased by 90 per cent compared with the first 
quarter 2020 but decreased by 8 per cent compared with the second 
quarter 2019. SEB's capital buffer is 410 basis points above the 
regulatory requirement and we are well placed to continue supporting our 
customers through these challenging times", says Johan Torgeby, 
President and CEO. 
 
   Financial information 
 
 
 
 
                                                                                           Full 
                                    Q2        Q1          Q2             Jan--Jun           year 
                                  ------  ----------  -----------  --------------------- 
SEK m                              2020    2020   %    2019    %    2020     2019     %    2019 
                                  ------  ------      ------  ---  -------  -------  ---  ------- 
Total operating income            13 999  10 089  39  12 197   15   24 089   24 103    0   50 134 
Total operating expenses          -5 712  -5 646   1  -5 708    0  -11 358  -11 329    0  -22 945 
Net expected credit losses        -2 691  -1 494  80   - 386        -4 185    - 808        -2 294 
Operating profit before 
 items affecting comparability     5 598   2 950  90   6 103   -8    8 547   11 967  -29   24 894 
Items affecting comparability(1)  -1 000                            -1 000 
Operating profit                   4 598   2 950  56   6 103  -25    7 547   11 967  -37   24 894 
NET PROFIT                         3 501   2 355  49   4 892  -28    5 856    9 573  -39   20 177 
 
Return on equity, %                  8.7     6.0        13.9           7.4     13.2          13.7 
Return on equity excluding 
 items affecting comparability, 
 %                                  11.2     6.0        13.9           8.6     13.2          13.8 
Basic earnings per share, 
 SEK                                1.62    1.09        2.26          2.70     4.43          9.33 
 
1) Administrative fine issued by the Swedish FSA. See note 6. 
 
 
   You can download the Quarterly Report, Results Presentation and Fact 
Book from 
https://www.globenewswire.com/Tracker?data=i6fBUa_N5zDO4oO_of5u_xyOVkvIGp4DB2ksHlKf7Do8gmaOY3q5sVy-5b3vlg0jUkK5UkXkFmFglq7MgzSTbGo224S2L4y6jkV2TwgCQyVb_MBNQ5eI4PI_7ryIuokPyuxtpD72oJeeA4H9blo9QXaLuya21qsNT4N3Q7bAIgX-MsRY1wlVivsBSVjKM67xH8pRY8cqkT36XBNW3izoaaw4KyTAIhEp52D_YW4RDbnm0PvJK1vGlMI1nCe9j3RW 
https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports. 
 
 
   For further information, please contact 
 
   Masih Yazdi, CFO, +46 771 621 000 
 
   Christoffer Geijer, Head of Investor Relations, +46 70 762 10 06 
 
   Frank Hojem, Head of Corporate Communication, +46 70 763 99 47 
 
   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 15 July 2020. 
 
   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 30 June 2020, the Group's total assets 
amounted to SEK 3,218bn while its assets under management totalled SEK 
1,909bn. The Group has around 15,000 employees. Read more about SEB at 
sebgroup.com. 
 
   Attachments 
 
 
   -- Quarterly report Q2 2020 
      https://ml-eu.globenewswire.com/Resource/Download/b2f1bd96-493b-4df8-bb07-971e417299e5 
 
 
   -- Press_release_SEB_Q2_2020 
      https://ml-eu.globenewswire.com/Resource/Download/108120da-232c-47d4-9df9-c3cca41740b8 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

July 15, 2020 01:15 ET (05:15 GMT)