SEB’s third quarter 2022 results

SEB’s operating profit for the third quarter of 2022 amounted to SEK 9.1bn, with a return on equity of 14.9 per cent on a capital management buffer of 410 basis points.

“The higher inflation, rising interest rates and volatile financial markets clearly impacted customer sentiment, activity and our results in the quarter,” says Johan Torgeby, SEB’s President and CEO. “With our solid earnings capacity, capital and liquidity buffers, we believe we are in a favourable position to continue to support our customers and invest in our business in line with our 2030 Strategy. As conditions now become increasingly challenging for many of our customers, we aim to remain a stable and trustworthy partner.”

Operating profit in the third quarter rose to SEK 9.1bn from SEK 7.3bn in the previous quarter, driven by higher operating income while operating expenses were stable. Return on equity increased to 14.9 per cent from 12.3 per cent in the previous quarter, and the capital management buffer amounted to 410 basis points. Asset quality continues to be robust, while further downward revisions of the macroeconomic outlook resulted in net expected credit losses increasing to 8 basis points.

Income statement

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 26-10-2022 07:00 CET.