SEB's results for the first quarter 2024

Stockholm 24 April 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.

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.

For further information, contact:
Masih Yazdi, CFO
+46 771 62 10 00

Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
[email protected]

Niklas Magnusson, Head of Media Relations & External Communication
+46 70 763 8243
[email protected]

SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we 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 our presence in more than 20 countries worldwide, with around 17,500 employees. At 31 March 2024, the Group's total assets amounted to SEK 4,130bn while assets under management totalled SEK 2,567bn. Read more about SEB at sebgroup.com.