SEB’s results for the first quarter 2024
SEB’s operating profit for the first quarter 2024 amounted to SEK 12.3bn, with a return on equity of 17.2 per cent, a CET1 capital ratio of 18.9 per cent, and a capital management buffer of 420 basis points.
“We report a solid result, with robust asset quality and low net expected credit losses. The strengthening macroeconomic picture in Sweden was partly reflected in an improved market sentiment. At the same time, the high interest rate environment continued to have a dampening effect on credit demand,” says SEB’s President and CEO Johan Torgeby.
| Income statement | ||||||||||
| Q1 | Q4 | Jan-Mar | Full-year | |||||||
| SEK m | 2024 | 2023 | % | 2024 | 2023 | % | 2023 | |||
| Total operating income | 20,682 | 20,136 | 3 | 20,682 | 19,060 | 9 | 80,193 | |||
| Total operating expenses | 7,160 | 7,130 | 0 | 7,160 | 6,465 | 11 | 27,449 | |||
| Net expected credit losses | 73 | 664 | -89 | 73 | 272 | -73 | 962 | |||
| Imposed levies | 1,133 | 1,075 | 5 | 1,133 | 702 | 61 | 3,819 | |||
| Operating profit | 12,316 | 11,267 | 9 | 12,316 | 11,620 | 6 | 47,963 | |||
| NET PROFIT | 9,503 | 8,373 | 13 | 9,503 | 9,393 | 1 | 38,116 | |||
| Return on equity, % | 17.2 | 15.2 | 17.2 | 17.9 | 17.9 | |||||
| Basic earnings per share, SEK | 4.60 | 4.03 | 4.60 | 4.45 | 18.20 | |||||
This disclosure contains information that SEB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 24-04-2024 07:00 CET.