SEB: First quarter of 2012: Operating profit SEK 3.7bn (4.3)
(Thomson Reuters ONE) -
"Our relationship banking model has generated a robust first quarter and profit
before credit loss provisions increased by 2 per cent. The number of customers
increased in all segments and asset gathering activities continued to attract
net new money. Costs developed according to plan and asset quality has remained
strong.
We are proud to have been recognised by customers as "Overall best bank for
large corporates and institutions in the Nordics 2011", according to a
compilation of all Prospera's surveys for 2011. This is a merit to our focused
expansion in the Nordic and German wholesale markets and it spurs us to continue
to build with even more determination on this recognition", says Annika
Falkengren, SEB's President and CEO, commenting on the first quarter 2012
result.
Profit before credit losses amounted to SEK 3.9bn (SEK 3.8bn the first quarter
2011). The customer business, which is generated through the divisions, was 15
per cent higher than last year.
Operating income amounted to SEK 9.6bn, down 1 per cent compared to the first
quarter 2011. Operating expenses, at SEK 5.7bn, were 2 per cent lower than the
first quarter 2011.
Provisions for credit losses amounted to SEK 206m.
Net profit amounted to SEK 2.7bn (2.6 first quarter 2011).
The liquidity reserve amounted to SEK 321bn and the total liquidity resources
were SEK 499bn. The core Tier 1 capital ratio was 13.9 per cent (13.7 at year-
end) and the Tier 1 capital ratio was 16.0 per cent (15.9 at year-end).
Download Annika Falkengren's presentation
For further information, please contact
Jan Erik Back, CFO, +46 8 22 19 00
Ulf Grunnesjö, Head of Investor Relations,
+46 8 763 85 01; +46 70 763 85 01
Viveka Hirdman-Ryrberg, Head of Corporate
Communication, +46 8 763 85 77, +46 70 550 35 00
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SEB is a leading Nordic financial services group. As a relationship bank,
SEB in Sweden and the Baltic countries offers financial advice and a wide
range of financial services. In Denmark, Finland, Norway and Germany 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 31 march 2012, the Group's total assets amounted
to SEK 2,331 billion while its assets under management totalled SEK 1,317
billion. The Group has around 17,000 employees. Read more about SEB at
www.sebgroup.com.
Fact Book January - March 2012:
http://hugin.info/1208/R/1605251/508298.pdf
Interim Report January - March 2012:
http://hugin.info/1208/R/1605251/508297.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SEB via Thomson Reuters ONE
[HUG#1605251]
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Datum: 24.04.2012 - 01:02 Uhr
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