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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 20,682 20,136 3 20,682 19,060 9 80,193
operating
income
Total 7,160 7,130 0 7,160 6,465 11 27,449
operating
expenses
Net expected 73 664 -89 73 272 -73 962
credit losses
Imposed levies 1,133 1,075 5 1,133 702 61 3,819
Operating 12,316 11,267 9 12,316 11,620 6 47,963
profit
NET PROFIT 9,503 8,373 13 9,503 9,393 1 38,116
Return on 17.2 15.2 17.2 17.9 17.9
equity, %
Basic earnings 4.60 4.03 4.60 4.45 18.20
per share, SEK
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.