"We report a strong result for the second quarter, driven by our corporate business. We saw sound activity among our large corporate customers, reflected in growing lending and deposit volumes and a pick-up in capital markets activity," says Johan Torgeby, SEB's President and CEO.

Operating profit increased by 4 per cent in the second quarter compared to the previous quarter. Both operating income and operating expenses increased. Asset quality remained robust and net expected credit losses were close to zero, despite an increase in portfolio model overlays.

"Halfway through a year characterised by an uncertain macroeconomic environment, it can be concluded that our diversified business model with broad international presence and universal offering serves us and our customers well. SEB stands strong, with liquidity buffers at historical highs and asset quality remaining solid," says Johan Torgeby.

Income statement

Q2 Q1 Q2 Jan Full
-Jun year
SEK m 2023 2023 % 2022 % 2023 2022 % 2022
Total 20 19 5 14 39 39 29 129 34 64
operating 019 060 390 078 478
income
Total -6 -6 7 -6 12 -13 -11 995 12 -25
operating 948 465 201 414 044
expenses
Net expected - 43 - 272 -84 - 399 -89 - 315 - 933 -66 -2
credit losses 007

Imposed levies - 934 - 702 33 - 556 68 -1 -1 138 44 -2
636 288

Operating 12 11 4 7 234 67 23 15 062 57 35
profit before 093 620 714 138
items
affecting
comparability
Items -1
affecting 399
comparability
Operating 12 11 4 7 234 67 23 15 062 57 33
profit 093 620 714 739

NET PROFIT 9 768 9 393 4 5 790 69 19 12 164 58 26
161 877

Return on 18.8 17.9 12.2 18.4 12.7 13.8
equity, %
Return on 18.8 17.9 12.2 18.4 12.7 14.5
equity
excluding
items
affecting
comparability,
%
Basic earnings 4.65 4.45 2.70 9.10 5.67 12.58
per share, SEK

Comparative
figures for
2022
have been
restated for
the
transition to
IFRS 17
Insurance
Contracts. See
section on
restated
comparative
figures for
further
information.

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 18-07-2023 07:00 CET.