SEB third quar­ter profit reaches SEK 3,916m

The Pak Banker - - Front Page -

STOCKHOLM

Oper­at­ing profit was ro­bust in a quar­ter char­ac­terised by in­creased un­cer­tainty. Oper­at­ing in­come grew five per cent com­pared to a year ago, says Annika Falken­gren, SEB's Pres­i­dent and CEO, com­ment­ing on the third quar­ter 2012 re­sult.

We have con­tin­ued to fo­cus on our three strate­gic growth ar­eas: the Nordic and Ger­man cor­po­rate fran­chise, Swedish SMEs and long-term sav­ings. We can now lever­age these scal­able plat­forms as we have gained 276 new large cor­po­rate cus­tomers and al­most 30,000 new Swedish SME cus­tomers since the ex­pan­sion started in 2010. SEB's al­ready strength­ened bal­ance sheet has im­proved fur­ther. Liq­uid­ity re­serves amount to 22 per cent of the to­tal as­sets and all fund­ing ma­tur­ing in 2012 has been re­placed at lower fund­ing costs.

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