SEB's second quarter 2020 result

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

You can download the Quarterly Report, Results Presentation and Fact Book from 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
• Press_release_SEB_Q2_2020