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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Skandinaviska Enskilda Banken AB    SEB A   SE0000148884

SKANDINAVISKA ENSKILDA BANKEN AB

(SEB A)
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Skandinaviska Enskilda Banken : SEB 3Q Net Profit Beat Forecasts on Higher Income, Flat Costs

10/22/2020 | 01:47am EST

By Dominic Chopping

STOCKHOLM--Skandinaviska Enskilda Banken AB on Thursday posted a better-than expected third-quarter net profit as net interest income rose while costs remained flat.

The Sweden-based bank posted net profit of 4.77 billion Swedish kronor ($546.4 million) for the three months ended Sept. 30, unchanged from a year earlier and above the SEK4.6 billion forecast from analysts polled by FactSet.

Net interest income for the quarter rose 5.9% to SEK6.34 billion while expected credit losses in the quarter increased to SEK1.1 billion from SEK489 million a year prior. The majority of allowances taken were mainly related to the offshore portfolio, which includes rigs, accommodation rigs and platform support vessels.

"We continue to see limited effects from the pandemic on the asset quality and the guidance on net expected credit losses of around SEK6 billion for 2020 remains," Chief Executive Johan Torgeby said.

"We have a strong capital and liquidity position and the capital buffer above the common equity tier 1 regulatory requirement amounted to 580 basis points. Despite some light at the end of the tunnel, uncertainty still remains," he said.

The bank's common equity Tier 1 ratio--a key measure of financial strength--stood at 19.4% at the end of the quarter, up from 16.4% a year prior.

SEB said the board has assessed the current situation and confirms its previous decision to not propose a dividend during 2020.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

10-22-20 0146ET

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Financials
Sales 2020 49 267 M 5 771 M 5 771 M
Net income 2020 15 326 M 1 795 M 1 795 M
Net Debt 2020 - - -
P/E ratio 2020 13,3x
Yield 2020 6,75%
Capitalization 202 B 23 546 M 23 640 M
Capi. / Sales 2020 4,10x
Capi. / Sales 2021 4,00x
Nbr of Employees 15 000
Free-Float 72,7%
Chart SKANDINAVISKA ENSKILDA BANKEN AB
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Skandinaviska Enskilda Banken AB Technical Analysis Chart | SEB A | SE0000148884 | MarketScreener
Technical analysis trends SKANDINAVISKA ENSKILDA BANKEN AB
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 94,97 SEK
Last Close Price 93,40 SEK
Spread / Highest target 27,4%
Spread / Average Target 1,68%
Spread / Lowest Target -21,8%
EPS Revisions
Managers
NameTitle
Johan Torgeby President, Chief Executive Officer & Director
Marcus Wallenberg Chairman
Aušra Matuseviciene Head-Operations
Masih Yazdi Chief Financial Officer
Nicolas Moch Chief Information Officer
Sector and Competitors