Fourth quarter 2009: Pre-provision income SEK 3...

"SEB's result for the fourth quarter is a proof of the merits of diversified
business mix and long-term customer relationship. Positive developments in net
fee and commission income and net life insurance income brought this quarter's
operating profit above the third quarter level while net interest income
declined.
During the year, we have established a strong financial position. ", says Annika
Falkengren, SEB's President and CEO, commenting on today's interim report.

SEB's profit before provisions for credit losses in the fourth quarter 2009
amounted to SEK 3,748m , a decrease of 35 per cent compared with the
corresponding strong quarter of 2008 (5,730). In comparison with the previous
quarter (3,720), profit before provisions was up by 1 per cent. Operating profit
for the quarter was SEK 564m (4,028).

Operating income amounted to SEK 9,874m, a decrease of 22 per cent compared with
the last quarter of 2008. The decline was largely due to the lower Net interest
income, negatively affected by additional costs for the extended funding
duration, falling deposit margins and lower return on the bond investment
portfolio. In relation to the previous quarter, operating income rose by 1 per
cent.

Operating expenses amounted to SEK 6,126m, a decrease of 12 per cent compared
with the fourth quarter of 2008 and up by 2 per cent from the third quarter.

Provisions for credit losses amounted to SEK 3,160m, of which the Baltic
countries accounted for SEK 2,588m or 82 per cent. The credit loss level was
0.93 per cent (0.62). The Group's total reserve ratio was 69.5 per cent.

Core Tier I capital ratio was 11.7 per cent and Tier I capital ratio13.9 per
cent.

The Board proposes a dividend of SEK 1.00 per share (no dividend in 2008).

SEB is a North European financial group serving some 400,000 corporate customers
and institutions and five million private individuals. SEB offers universal
banking services in Sweden, Germany and the Baltic countries - Estonia, Latvia
and Lithuania. It also has local presence in the other Nordic countries, Ukraine
and Russia and a global presence through its international network in major
financial centres. On 31 December 2009, the Group's total assets amounted to SEK
2,308bn while its assets under management totalled SEK 1,356bn. The Group has
about 20,000 employees. Read more about SEB at www.sebgroup.com
<

http://www.sebgroup.com/>.

 _____________________________________________
For further information, please contact:

Jan Erik Back, CFO, [phone]
Ulf Grunnesjö, Head of Investor Relations, +46 8 763 85 01; +46 70 763 85 01
Viveka Hirdman-Ryrberg, Head of Corporate Communication, [phone], +46
70 550 35 00
Annika Halldin, Senior Financial Information Officer, +46 763 85 60; +46
70 379 00 60




[HUG#1382627]





    Additional Information 2009: 

http://hugin.info/136036/R/1382627/341577.pdf
    Annual Accounts 2009: 

http://hugin.info/136036/R/1382627/341576.pdf