Skandinaviska Enskilda Banken Ab Class A · OMXSTO:SEB_A
Skandinaviska Enskilda Banken Ab Class A — Q1 2026 Earnings Presentation
19 slides from Skandinaviska Enskilda Banken Ab Class A's earnings presentation, Apr 29, 2026
Slide 1: Financial results Q1 2026
Financial results Q1 2026 29 April 2026 Johan Torgeby, President & CEO Christoffer Malmer, CFO 1
Slide 2: Turbulent times
Turbulent times Middle East military conflict starts End of Q1 Implied rate expectations Stock markets Credit default swaps Expected market volatility Riksbanken, March 2027 Nasdaq 100, 1 Jan 2026=100 iTraxx crossover 5Y VIX index Note: Market-implied policy rate based on March 2027 OMX RIBA futures
Slide 3: Highlights in Q1 2026
Highlights in Q1 2026 Return on equity 13.1% • Sentiment was supportive early in the quarter but weakened in March amid Cost income ratio heightened geopolitical uncertainty. 0.41 • Higher market volatility increased customer demand for commodity hedging and supported activity in secondary equities.
Slide 4: Development of credit exposure and lending
Development of credit exposure and lending QoQ YoY Credit exposure by sector Lending by sector FX-adjusted lending by division SEK bn QoQ YoY QoQ YoY 1 800 Corporates (FX-adjusted) 1% 0% 1% 2% 1 600 Corporates 2% 0% 2% 2% 1% 2% 1 400 0% 0% 1 200 Corporate & Business & 1 000 Households1 1% 2% 0% 2% I
Slide 5: Business pulse
Business pulse Corporate & Investment Banking Business & Retail Banking Corporate Private 1 1 Swedish house prices 1 ▪ Business momentum impacted by shift 110 Cash Management Fixed Income ▪ New customer inflow Houses Flats in sentiment Sweden Prospera Sweden Prospera ▪ Strong FICC risk management du
Slide 6: Our operating model: Serving our clients locally
Our operating model: Serving our clients locally ... and increased diversification Total CIB client income by country SEK 14.0bn, 2010 4% 1% 11% 5% Sweden 7% Home markets Norway Offices 6% 66% Finland Denmark Geographical expansion has generated growth... SEK 31.4bn, 2025 DACH Total client income 5%
Slide 7: Focus on returning to positive jaws
Focus on returning to positive jaws Average quarterly income Average quarterly expenses Average quarterly profit before credit losses and imposed levies 18.4 10.8 9.4 7.6 5.9 3.5 2011 2016 2021 Jan-Mar 2011 2016 2021 Jan-Mar 2011 2016 2021 Jan-Mar 2026 2026 2026 Note: Excluding items affecting compa
Slide 8: Financials
Financials 8 S|EB
Slide 9: Financial summary Q1 2026
Financial summary Q1 2026 SEK m Q1 2026 Q4 2025 Q1 2025 Net interest income 10,242 10,348 -1% 10,844 -6% Net fee and commission income 6,410 6,814 -6% 6,705 -4% Net financial income 1,699 1,709 -1% 2,368 -28% RoE 13.1% Operating income 18,406 18,894 -3% 19,822 -7% Operating expenses 7,616 8,453 -10%
Slide 10: Net interest income development
Net interest income development Net interest income (SEK bn) Net interest income (SEK m) Jan-Mar 2025 vs Jan-Mar 2026 Q4 2025 – Q1 2026 -6% 10 348 48 10.8 10.2 10 242 -35 -50 -69 Jan-Mar 2025 Jan-Mar 2026 Q4 2025 CIB BRB Baltic WAM, Funding, Q1 2026 Other 10
Slide 11: Net fee and commission income development
Net fee and commission income development Net fee and commission income (SEK bn) Net fee and commission income by income type (SEK bn) Jan-Mar 2025 vs Jan-Mar 2026 Q1 2024 – Q1 2026 YoY QoQ Net securities commissions (custody, mutual funds, brokerage) -4% 2.5 2.8 2.9 2.8 -2% -3% Q1-24 Q1-25 Q1-26 Ne
Slide 12: Net financial income development
Net financial income development Net financial income (SEK bn) Net financial income development (SEK bn) Jan-Mar 2025 vs Jan-Mar 2026 Q1 2025 – Q1 2026. Mean and standard deviation (SD) based on proforma last 12 quarters NFI Divisions NFI Other -28% 2.4 +1 SD 2.6 1.7 Mean 2.1 -1 SD 1.7 2.5 2.0 -0.1
Slide 13: Development of CET1 capital buffer quarter-on-quarter
Development of CET1 capital buffer quarter-on-quarter Buffer above regulatory requirement, bps 41 300 -13 12 290 -15 -16 -19 ~250 100 – 300bps Target buffer ~40 Remaining Article 3 REA for Baltic IRB models 1 31 Dec 2025 Profit net Share REA asset size REA FX REA Article 3 Other 2 31 Mar 2026 Pro fo
Slide 14: Build up of Sferical AI
Build up of Sferical AI SuperPOD hardware delivered in April 16 Grace Blackwell (GB300) racks with 1,152 GPUs in total, NVIDIA’s highest performance compute platform Sovereign and cost-efficient compute supporting SEB’s security needs NVIDIA AI Technology Centre is operational, supporting optimisati
Slide 15: SEB Group financial targets
SEB Group financial targets ~50% 1–3 percentage points Return on equity competitive with peers Dividend payout ratio of EPS CET1 ratio above requirement Long-term aspiration 15% Share repurchases will be the main form of capital distribution when SEB’s capital is in excess of the targeted capital po
Slide 16: Appendix
Appendix SIEIB
Slide 17: Lending portfolio more sector-diverse than competitors'
Lending portfolio more sector-diverse than competitors’ Lending portfolio by industry 1 Q4 2025, total lending excl. banks, reversed repos and collateral margin 100% Public Administration Other Mining and quarrying 80% Hotels and restaurants Electricity, gas and water supply Construction 60% Service
Slide 18: Feedback from our customers
Feedback from our customers Nordics Peers in Sweden Sweden All banks 3 Large Corporates Prospera Financial Institutions Prospera Sustainability Advisor Prospera Mid Corporate Prospera 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 1 1 1 1 2 3 1 1 1 1 1 1 1 1 1 1 2021 2025 2021 2025 2021 2025 2021 2026 Corp
Slide 19: SIEIB
19 SIEIB
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