Second quarter of 2011: Operating profit SEK 4....

"Our customers have been more active and chosen to do more business with us. The
customer business increased profit by 7 per cent despite increased uncertainty
on the macro environment. Lending to corporates and households continued to
increase, up SEK 43bn or 4 per cent in the quarter.

We have increased our resilience further through increased liquidity buffers and
prolonged funding in order to ensure support to our customers in all situations.
Asset quality is robust. As a result of falling non-performing loans and
positive risk migration, we once again have a net release of provisions for
credit losses", says Annika Falkengren, SEB's President and CEO, commenting on
today's interim report.

Operating income, at SEK 9.5bn, rose by 3 per cent compared with the
corresponding quarter 2010 and was 1 per cent lower compared with the first
quarter.

Operating expenses at SEK 5.9bn were unchanged compared to the corresponding
quarter 2010 and 1 per cent higher than the first quarter.

Profit before credit losses increased 10 per cent to SEK 3.6bn compared to the
corresponding quarter last year.

Net credit provisions of SEK 0.6bn were released.

Including discontinued operations, net profit amounted to SEK 3.4bn (2.0).

The liquidity reserve amounted to SEK 283bn and the total liquidity resources to
SEK 467bn. The Core Tier 1 capital ratio was 13.5 per cent (12.2 at year-end)
and the Tier 1 capital ratio was 15.6 per cent (14.2 at year-end).


Download Annika Falkengren's presentation


For further information, please contact
Jan Erik Back, CFO, [phone]
Ulf Grunnesjö, Head of Investor Relations, [phone]; [phone]
Viveka Hirdman-Ryrberg, Head of Corporate Communication,
[phone], [phone]
Malin Schenkenberg, Financial Information, [phone]

SEB is a leading Nordic financial services group. As a relationship bank, SEB in
Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The international
nature of SEB's business is reflected in its presence in some 20 countries
worldwide. On 30 June 2011, the Group's total assets amounted to SEK 2,201bn
while its assets under management totalled SEK 1,356bn. The Group has about
17,500 employees. Read more about SEB at www.sebgroup.com.



Interim Report January-June 2011: 


http://hugin.info/136036/R/1530979/465898.pdf

Fact Book January - June 2011: 


http://hugin.info/136036/R/1530979/465899.pdf




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Source: Skandinaviska Enskilda Banken AB via Thomson Reuters ONE

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