Third quarter 2009: Pre-provision income up by ...

"SEB's result for the third quarter is solid evidence of our position
as a relationship bank and our diversified business mix. During the
year, we have established a strong financial position. In combination
with emerging signs of economic stability and better functioning
financial markets, we have decided not to apply for prolongation of
the Swedish Funding Guarantee Programme. SEB has not utilized the
Programme", says Annika Falkengren, SEB's President and CEO,
commenting on today's interim report.

SEB's profit before provisions for credit losses in the third quarter
2009 amounted to SEK 3,720m , an increase of 15 per cent compared
with the corresponding quarter of 2008 (3,242). In comparison with
the previous quarter (4,162), profit before provisions was down by 11
per cent, partly due to seasonal results and one-off effects in the
second quarter. Operating profit for the quarter was SEK 388m
(2,526).

Operating income amounted to SEK 9,735m, an increase of 6 per cent
compared with the third quarter last year. In relation to the
previous quarter, which contained a capital gain of SEK 1.3bn,
operating income decreased by 26 per cent. The decline was also due
to the lower Net interest, negatively affected by additional costs
for the extended funding duration, falling deposit margins and lower
return on the bond investment portfolio.

Operating expenses amounted to SEK 6,015m, virtually flat compared
with the third quarter of 2008 and down by 9 per cent from the second
quarter, adjusted for goodwill impairments during that period.

Provisions for credit losses amounted to SEK 3,335m, of which the
Baltic countries accounted for SEK 2,642m or 79 per cent. The credit
loss level was 0.98 per cent (0.27). The Group's total reserve ratio
was 72 per cent.

Core Tier I capital ratio was 11.8 per cent and Tier I capital
ratio13.5 per cent.


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 30 September 2009, the Group's total assets
amounted to SEK 2,233bn (~EUR 219bn) while its assets under
management totalled SEK 1,295bn (~EUR 127bn).The Group has about
20,000 employees. Read more about SEB at www.sebgroup.com.

_____________________________________________
For further information, please contact:
Jan Erik Back, CFO, [phone]
Ulf Grunnesjö, Head of Investor Relations, [phone]; +46
70 763 85 01
Viveka Hirdman-Ryrberg, Head of Corporate Communication, [phone]
77, [phone]
Annika Halldin, Senior Financial Information Officer, [phone];
[phone]

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