SEB's first quarter 2021 result
The operating profit for the first quarter 2021 amounted to SEK 7.5bn with a return on equity of 13.8 per cent and a Common Equity Tier 1 capital ratio of 20.3 per cent.
"The overall concern observed last year in the global economy has been replaced by an increased optimism. This in turn affected several parts of SEB’s business and the operating result improved by 17 per cent in the quarter. Asset quality was strong and the net expected credit losses are expected to normalise already in 2021 based on the improved macroeconomic outlook. The capital buffer was 780 basis points above the requirement,” says Johan Torgeby, President and CEO.
Financial information
| Q1 | Q4 | Jan–Mar | Full year | ||||||||||
| SEK m | 2021 | 2020 | % | 2021 | 2020 | % | 2020 | ||||||
| Total operating income | 13 347 | 13 066 | 2 | 13 347 | 10 089 | 32 | 49 717 | ||||||
| Total operating expenses | -5 718 | -5 842 | -2 | -5 718 | -5 646 | 1 | -22 747 | ||||||
| Net expected credit losses | - 156 | - 835 | -81 | - 156 | -1 494 | -90 | -6 118 | ||||||
| Operating profit before items affecting comparability |
7 475 | 6 382 | 17 | 7 475 | 2 950 | 153 | 20 846 | ||||||
| Items affecting comparability | -1 000 | ||||||||||||
| Operating profit | 7 475 | 6 382 | 17 | 7 475 | 2 950 | 153 | 19 846 | ||||||
| NET PROFIT | 6 018 | 5 123 | 17 | 6 018 | 2 355 | 156 | 15 746 | ||||||
| Return on equity, % | 13.8 | 12.2 | 13.8 | 6.0 | 9.7 | ||||||||
| Return on equity excluding items affecting comparability, % | 13.8 | 12.1 | 13.8 | 6.0 | 10.3 | ||||||||
| Basic earnings per share, SEK | 2.78 | 2.37 | 2.78 | 1.09 | 7.28 | ||||||||
You can download the Quarterly Report, Results Presentation and Fact Book from https://sebgroup.com/investor-relations/reports-and-presentations/financial-reports.
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 28 April 2021.