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Swedish banking group SEB reports end on year report promising huge dividends to shareholders

Thursday, 31 January 2013
The other Swedish giant bank, SEB's report a slightly better than the market expected report for its end of year activities. Operating profit amounted to Skr 4.0billion against Skr 3.3 billion in the fourth quarter of 2011 and the full year operating profit was Skr 15.4billion against Skr15 billion.

The full years operating profit of Skr14.2 billion in 2012 and net income of 11, 6 billion, 2 percent above analysts' expectations, according to a various summary consensuses. This challenges the same position a year ago where the banking group reported Skr14,9 billion

SEB Bank Group 's operating profit Skr3.994 billion for the fourth quarter of 2012. The corresponding profit in 2011 was Skr3.857 billion. Analysts had, according to Reuters, expected a profit of Skr2.535 billion.

Amidst all this, the shareholders of SEB's came out to be the winners. Just like Swedbank, they'll get overall Skr6 billion in dividends to share. The board thus proposes a dividend per share of Skr 2.75 corresponding to a payout ratio of 52 per cent of earnings per share at Skr 5.31 for the full year.
“Operating income in the quarter exceeded Skr10 billion which reflected a strong fee generation capacity. For the full year, profit before credit losses increased by 7 per cent, excluding one-off items by 15 per cent.” says Annika Falkengren, SEB’s President and CEO, commenting on the Annual Accounts 2012.
Details of the report could be found here

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