SEB first quarter 2016 - underlying operating profit SEK 4,493m (5,505)

"2016 marks the start of our new three-year business plan. However in the first quarter the prevailing market sentiment led to low customer activity. Few large corporate transactions, limited credit demand and decreasing market values affected the operating result. With a strong balance sheet and a Common Equity Tier 1 capital ratio of 19.1 per cent, we are well prepared to support our customers going forward, says Annika Falkengren, SEB's President and CEO, commenting on the quarterly result."

"We have set out on an ambitious journey to deliver world-class service to our customers and with eleven more quarters to deliver on our business plan, we remain highly focused and determined to accomplish that."

Excluding one-off items amounting in total to SEK 5,949m, operating profit for the first quarter was SEK 4,493m (5,505) and a return on equity of 10.1 per cent. Including the one-off items, operating profit was SEK -1,456m and the return on equity was -6.6 per cent.

Operating income in the first quarter amounted to SEK 10.2bn, a decrease of 9 per cent compared to the last quarter 2015. Operating expenses decreased by 1 per cent to SEK 5,416m, excluding one-off items. 

Asset quality remained high. The net credit loss level was 8 basis points during the quarter. The liquidity coverage ratio was 132 per cent (128). The Common Equity Tier 1 capital ratio was further strengthened to 19.1 per cent (18.8).

Download Annika Falkengren's presentation here:
http://sebgroup.com/siteassets/investor_relations1/presentations/interim/pressconference_2016_Q1.pdf

Download Fact Book here:
http://sebgroup.com/siteassets/investor_relations1/factbook/2016_Q1_factbook.pdf