SEB’s president and CEO, Johan Torgeby, comments on the results:
«After the careful introduction the increased level of activity in all customer segments in the second quarter. Among storföretagskunderna increased need for advice and företagsförvärvstjänster as well as the demand for traditional bank loans. The financial institutions were also more active. Smaller and medium-sized enterprises in Sweden, demand loans to a greater extent, and the mortgage portfolio grew by approximately 3 percent compared with last year. In the Baltic countries was the business situation continued to be positive and lending to both private and corporate customers increased.
The higher the customer activity in the second quarter led to operating income before items affecting comparability increased by 17 per cent. Operating income for the first six months of the year, before items affecting comparability 2 per cent — in line with earlier development.»
Operating income for the second quarter of 2018 amounted to 10.7 billion (eur 5.3). Return on equity was 29.9% (11,6), while the return on equity before items affecting comparability, was 16.5 percent (11.6).
Operating revenues amounted to 11.9 billion in the second quarter (10.8 million). Compared with the second quarter of 2017 increased operating income by 5 percent. Operating expenses amounted to sek 5.5 billion (5,4). Compared with the second quarter of 2017, was the operating costs were 1 per cent higher.
Asset quality remained strong and the expected nettokreditförlustnivån was 4 basis points in the quarter. Likviditetstäckningsgraden was 136 per cent. Kärnprimärkapitalrelationen amounted to 19.3 per cent (19.4 at the end of the year). SEB’s own calculation of kärnprimärkapitalkravet amounted to 16.7 per cent. Capital buffer of the requirement was 260 basis points.
Both the interim report, the presentation to the press conference and fact book can be downloaded from the https://sebgroup.com/sv/investor-relations/rapporter-och-presentationer/finansiella-rapporter
Interim report January — June 2018
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SEB via Globenewswire