SEB's first quarter 2015 - Operating profit SEK 5.8bn (4.9)
(Thomson Reuters ONE) -
"We operate in exceptional times, where negative interest rates have turned
economic relationships upside down, impacting customer behaviour. Also in these
times our well diversified business mix led to increased operating profit", says
Annika Falkengren, SEB's President and CEO, commenting on the first quarter
results.
"This market environment with high volatility and rising stock markets calls for
caution. We have seen that customers demand for hedging, risk management and
long-term savings increased."
Operating income in the first quarter amounted to SEK 11.6bn, an increase of
11 per cent compared to the same quarter 2014. Operating expenses increased by
4 per cent to SEK 5.6bn as previously communicated due to headwinds from higher
pension costs and currency effects. Operating profit in the quarter amounted to
SEK 5.8bn, which was up 19 per cent compared to the first quarter 2014.
Asset quality remained high. Credit losses amounted to SEK 188m, corresponding
to a net credit loss level of 5 basis points.
Return on equity for the quarter amounted to 13.8 per cent and the Common Equity
Tier 1 capital ratio increased to 16.6 per cent.
The liquidity coverage ratio was 124 per cent, the core liquidity reserve
amounted to SEK 569bn and the total liquid resources were SEK 773bn.
Download Annika Falkengren's presentation here:
http://sebgroup.com/siteassets/investor_relations1/presentations/interim/pressco
nference_2015_Q1.pdf
Download Fact Book here:
http://sebgroup.com/siteassets/investor_relations1/factbook/2015_Q1_factbook.pdf
For further information, please contact
Jan Erik Back, CFO, +46 8 22 19 00
Jonas Söderberg, Head of Investor Relations, +46 8 763 83 19; +46 73 521 02 66
Viveka Hirdman-Ryrberg, Head of Corporate Communication,
+46 8 763 85 77, +46 70 550 35 00
--------------------------------------------------------------------------------
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 2015, the Group's total assets amounted to SEK 2,979
billion while its assets under management totalled SEK 1,832 billion. The Group
has around 16,000 employees. Read more about SEB at http://www.sebgroup.com.
Interim Report January - March 2015:
http://hugin.info/1208/R/1913808/683655.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1913808]
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Datum: 23.04.2015 - 07:03 Uhr
Sprache: Deutsch
News-ID 387937
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