SEB's operating profit for the fourth quarter 2023 amounted to
"We report a solid result with a return on equity that is in line with our long-term aspiration. After a year of exceptional macroeconomic circumstances, we are now starting to see a normalisation of our operating environment. Interest rates started to plateau towards the end of the year and the positive effect on our results experienced earlier in 2023 continued to abate. We continue to execute our business plan and develop the business in accordance with our 2030 Strategy, which is possible due to our financial strength," says SEB's President and CEO Johan Torgeby.
SEB's Board of Directors proposes an ordinary dividend of
"SEB's dividend is an important contribution to society, not least in tough economic times. Through our owners, who mostly consist of pension funds and fund companies, it benefits millions of pensioners and households. Among our shareholders there are also more than 250,000 private individuals who have chosen to invest part of their savings in SEB shares. Through our largest shareholder,
Income statement | ||||||||||||
Q4 | Q3 | Q4 | Jan-Dec | |||||||||
SEK m | 2023 | 2023 | % | 2022 | % | 2023 | 2022 | % | ||||
Total operating income | 20,136 | 20,979 | -4 | 18,798 | 7 | 80,193 | 64,478 | 24 | ||||
Total operating expenses | -7,130 | -6,905 | 3 | -6,757 | 6 | -27,449 | -25,044 | 10 | ||||
Net expected credit losses | -664 | 17 | -506 | 31 | -962 | -2,007 | -52 | |||||
Imposed levies | -1,075 | -1,108 | -3 | -578 | 86 | -3,819 | -2,288 | 67 | ||||
Operating profit before items affecting comparability | 11,267 | 12,983 | -13 | 10,957 | 3 | 47,963 | 35,138 | 37 | ||||
Items affecting comparability | -1,399 | -100 | -1,399 | -100 | ||||||||
Operating profit | 11,267 | 12,983 | -13 | 9,558 | 18 | 47,963 | 33,739 | 42 | ||||
NET PROFIT | 8,373 | 10,581 | -21 | 7,402 | 13 | 38,116 | 26,877 | 42 | ||||
Return on equity, % | 15.2 | 19.8 | 14.7 | 17.9 | 13.8 | |||||||
Return on equity excluding items affecting comparability, % | 15.2 | 19.8 | 17.4 | 17.9 | 14.5 | |||||||
Basic earnings per share, SEK | 4.03 | 5.07 | 3.49 | 18.20 | 12.58 | |||||||
Comparative figures for 2022 have been restated for the transition to IFRS 17 Insurance Contracts. See section on restated comparative figures for further information. |
This disclosure contains information that SEB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on
For further information, contact:
+46 771 62 10 00
+46 70 462 2111
pawel.wyszynski@seb.se
+46 70 763 8243
niklas.x.magnusson@seb.se
SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In
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