Skandinaviska Enskilda Banken Ab Class A · OMXSTO:SEB_A
Skandinaviska Enskilda Banken Ab Class A — Q2 2025 Earnings Presentation
22 slides from Skandinaviska Enskilda Banken Ab Class A's earnings presentation, Jul 16, 2025
Slide 1: Financial results Q2 2025
Financial results Q2 2025 16 July 2025 Johan Torgeby, President & CEO Christoffer Malmer, CFO
Slide 2: Distinguishing risk from uncertainty
Distinguishing risk from uncertainty Risk Uncertainty Credit default swaps 1 Stock markets 2 Trade Policy Uncertainty Index 3 EUR IG 5y Nasdaq-100, Jan 2019 = 100 180 400 1,400 150 1,200 300 1,000 120 800 90 200 600 60 400 100 30 200 0 0 0 1980 1960 1970 1990 2000 2010 2020 1 Bloomberg. 2 Macrobond.
Slide 3: Highlights in Q2 2025
Highlights in Q2 2025 Return on equity 15.0% • An overall solid financial performance Cost income ratio • Volumes grew across lending, deposits and assets under management 0.41 • Corporate & Investment Banking captured a high share of flows and transactions CET1 ratio • AirPlus on track to reach pro
Slide 4: Recent events
Recent events AI efforts: SEB part of consortium to build AI factory with NVIDIA Customer satisfaction 1 Interest Rate Derivatives Prospera Nordics 1 1 Foreign Exchange DCM IG Issuers Prospera Sweden Prospera Sweden SEB Chair Marcus Wallenberg and NVIDIA CEO Jensen Huang at the announcement. 4
Slide 5: Growth in both credit exposure and lending
Growth in both credit exposure and lending Credit portfolio by sector Lending by sector SEK bn QoQ YoY QoQ YoY 1,800 Corporates 1% 1% 5% 3% 1,600 FX-adjusted 1% 4% 4% 7% 1,400 1,200 1,000 Households 1 1% 2% 1% 2% 800 Swedish mortgages 1 1% 2% 1% 2% 600 400 Property management 2% 3% 1% 0% 200 0 Total
Slide 6: AirPlus status update
TBU AirPlus status update On-track to reach profitability excl. implementation costs in 2025 100% of planned 2025 FTE reductions signed Business in non-core markets discontinued New AirPlus IT platform completed and customers migrated 6
Slide 7: Financials
Financials 7 S|EB
Slide 8: Financial summary Q2 2025
Financial summary Q2 2025 SEK m Q2 2025 Q1 2025 Q2 2024 Net interest income 10,342 10,469 -1% 11,736 -12% Net fee and commission income 6,685 6,705 0% 5,936 13% RoE 15.0% Net financial income 2,468 2,743 -10% 2,623 -6% Operating income 19,559 19,822 -1% 20,312 -4% C/I Operating expenses 7,982 8,241
Slide 9: Net interest income development
Net interest income development Net interest income (SEK bn) Net interest income (SEK bn) Jan-Jun 2024 vs Jan-Jun 2025 Q1 2025 – Q2 2025 -12% 23.6 20.8 10.5 0.4 10.3 -0.2 -0.2 -0.2 1 Jan-Jun 2024 Jan-Jun 2025 Q1 2025 CIB BRB Baltic Funding & Other Q2 2025 1 ”Funding & Other” includes division Wealth
Slide 10: 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-Jun 2024 vs Jan-Jun 2025 Q2 2023 – Q2 2025 YoY QoQ Net securities commissions (custody, mutual funds, brokerage) 16% 2.6 2.7 2.8 +4% -1% 13.4 Q2-23 Q2-24 Q2-25 1
Slide 11: Net financial income development
Net financial income development Net financial income (SEK bn) Net financial income development (SEK bn) Jan-Jun 2024 vs Jan-Jun 2025 Q2 2023 – Q2 2025. Mean and standard deviation (SD) based on last 16 quarters -10% NFI Divisions NFI Other +1 SD 2.6 2.6 2.5 3.1 Mean 0.5 0.3 2.5 0.5 -1 SD 1.9 5.8 2.
Slide 12: Future regulatory effects on SEB's capital buffer
Future regulatory effects on SEB’s capital buffer Capital requirements related to ongoing work with IRB models Expected outcome In place New when compliant CET1 requirement (P2R) 100bps None 0bps IRB non-compliance (SFSA) ~ SEK 10bn ~ SEK +50bn 1 Subject to regulatory REA Article 3 add-ons IRB non-c
Slide 13: Development of CET1 buffer quarter-on-quarter
Development of CET1 buffer quarter-on-quarter Buffer above regulatory requirement, bps 41 4 290 280 -27 -4 -4 Target buffer 100 – 300bps 1 31 Mar 2025 Profit net REA Asset size REA Asset quality REA FX Other 2 30 Jun 2025 1 Profit net of dividend. 2 Other includes REA impact from model updates, mark
Slide 14: Strong asset quality and balance sheet
Strong asset quality and balance sheet Q1 2025 Q2 2025 Asset quality Asset quality Net expected credit loss level 9bps Net expected credit loss level 4bps Funding & liquidity Funding & liquidity Customer deposits (SEK) 1,943bn Customer deposits (SEK) 1,974bn Liquidity coverage ratio (LCR) 132% Liqui
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: 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 19.7 Proactively reduce cost growth 11.6 9.4 8.1 Make room for investments 5.9 3.5 2011 2016 2021 H1 2025 2011 2016 2021 H1 2025 2011 2016 2021 H1
Slide 17: Appendix
Appendix SIEIB
Slide 18: Financial summary Jan-Jun 2025
Financial summary Jan-Jun 2025 SEK m H1 2025 H1 2024 Net interest income 20,811 23,553 -12% Net fee and commission income 13,390 11,561 16% RoE 14.2% Net financial income 5,212 5,819 -10% Operating income 39,381 40,994 -4% C/I Operating expenses 16,223 14,542 12% 0.41 Profit before ECL and imposed l
Slide 19: Feedback from our customers
Feedback from our customers Nordics Peers in Sweden 1 Sweden All banks 2 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 1 2 2 2 2 2 1 1 1 1 2 3 1 1 1 1 1 1 1 1 1 1 2020 2024 2020 2024 2020 2024 2020 2025 Co
Slide 20: Increasing share of investment grade companies
Increasing share of investment grade companies Large corporates, Sweden 1 Large corporates, outside Sweden 1 Probability of Default (PD) External Rating Category range equivalent 2 Investment 0.0 - 0.4% AAA - BBB grade Non-investment 0.4 - 1.1% BB grade (BB) Non-investment 1.1 - 6% B+ 63% 66% grade
Slide 21: Lending portfolio more sector-diverse than competitors'
Lending portfolio more sector-diverse than competitors’ Lending portfolio by industry 1 Q4 2024, total lending excl. banks, reversed repos and collateral margin 100% Public Administration Other 80% Mining and quarrying Hotels and restaurants Electricity, gas and water supply 60% Construction Service
Slide 22: SIEIB
SIEIB
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