Swedish giant bank, SEB reports strong numbers for the Second quarter of 2012

Monday, 16 July 2012
Swedish giant bank, SEB's reported a profit before credit losses amounted to Skr 4.2bn (Skr 3.6bn the second quarter 2011).

Operating income amounted to Skr9.9bn, up 4 per cent compared to the second quarter 2011. Operating expenses, at Skr 5.7bn, were 3 per cent lower than the second quarter 2011. Operating profit was thus 20 percent better than the average forecast of Skr3.299 billion according to analysis consensus.
Provisions for credit losses amounted to Skr 269m. Net profit amounted to Skr 3.0bn (3.4 second quarter 2011).

The liquidity coverage ratio was 108 per cent, the core liquidity reserve amounted to SEK 339bn and the total liquid resources were Skr 537bn. The core Tier 1 capital ratio was 15.3 per cent (13.7 at year-end) and the Tier 1 capital ratio was 17.5 per cent (15.9 at year-end).

CEO Annika Falkengren said, "SEB's relationship banking model has supported a high and stable level of earnings in a quarter marked by a challenging environment. Putting the customer's perspective front and centre yields real results," says Annika Falkengren, SEB's President and CEO, commenting on the second quarter 2012 result.
See presentation fo the results here
by Scancomark.se