SEB's third quarter 2020 result

Press release
Stockholm, 22 October 2020

The operating profit for the third quarter 2020 amounted to SEK 5.9bn with a return on equity of 11.7 per cent and a Common Equity Tier 1 capital ratio of 19.4 per cent. The Board of Directors confirms its previous decision to not propose a dividend during 2020.

"Despite the challenging economic environment, SEB delivered a robust financial performance. Higher net interest income, lower expenses and lower credit losses were offset by valuation effects that came down from the elevated level in the second quarter. We continue to see limited effects from the pandemic on the asset quality and the guidance on net expected credit losses of around SEK 6bn for 2020 remains. We have a strong capital and liquidity position and the capital buffer above the common equity tier 1 regulatory requirement amounted to 580 basis points. Despite some light at the end of the tunnel, uncertainty still remains. It continues to be our highest priority to support our customers,”, says Johan Torgeby, President and CEO.

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
Pawel Wyszynski, Head of Investor Relations, +46 70 462 21 11
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 22 October 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 September 2020, the Group's total assets amounted to SEK 3,201bn while its assets under management totalled SEK 2,054bn. The Group has around 15,000 employees. Read more about SEB at sebgroup.com

Attachment

• Quarterly report Q3 2020