Seb Sa · EURONEXT:SK
Seb Sa — Q3 2026 Earnings Presentation
18 slides from Seb Sa's earnings presentation, Oct 22, 2026
Slide 1: Financial results Q3 2026
Financial results Q3 2026 22 October 2026 Jonas Ahlström, Acting President & CEO Christoffer Malmer, CFO 1
Slide 2: Highlights in Q3 2026
Highlights in Q3 2026 Return on equity 13.0% Cost income ratio 0.44 • Continued credit demand across all divisions and record Q3 net fee and commission income CET1 ratio 17.1% • Challenging FICC market conditions affected net financial income negatively Capital buffer • Expecting to beat the 2026 fu
Slide 3: Recent events
Recent events Sferical live & launch event Running the business with AI – an update ▪ Financial crime prevention: AI-assisted investigations substantially improving efficiency ▪ Agentic engineering increasing developer team output ▪ Collateral management: high-volume workflow largely automated with
Slide 4: Business pulse
Business pulse Corporate & Investment Banking Business & Retail Banking 19% Strength in Investor Services Swedish household lending growth 1 • Highest net fee and commission income for a Q3 All-time high assets under custody Jan Feb Mar Apr Maj Jun Jul Aug Sep • #1 in Equity Prospera Nordic SEK ~23t
Slide 5: Development of credit exposure and lending
Development of credit exposure and lending QoQ YoY Sector Division SEK bn Credit exposure Lending FX-adjusted lending 2 000 QoQ YoY QoQ YoY Corporates (FX-adjusted) 3% 8% 3% 6% 1 800 7% Corporates 5% 11% 5% 9% 1 600 3% 1% 1% 1 400 1 200 Corporate & Business & Investment Banking Retail Banking 1 000
Slide 6: Maintaining focus on operating jaws
Maintaining focus on operating jaws Average quarterly income Average quarterly expenses Average quarterly profit before credit losses and imposed levies 19.0 11.1 9.4 7.9 5.9 3.5 2011 2016 2021 Jan-Sep 2011 2016 2021 Jan-Sep 2011 2016 2021 Jan-Sep 2026 2026 2026 Note: Excluding items affecting compa
Slide 7: Financials
Financials 7 S|EB
Slide 8: Financial summary Q3 2026
Financial summary Q3 2026 SEK m Q3 2026 Q2 2026 Q3 2025 Net interest income 10,881 10,687 2% 10,540 3% Net fee and commission income 6,702 7,194 -7% 6,287 7% Net financial income 1,124 2,421 -54% 1,767 -36% RoE 13.0% Operating income 18,626 20,055 -7% 18,664 0% Operating expenses 8,178 8,014 2% 7,92
Slide 9: Net interest income development
Net interest income development Net interest income (SEK bn) Net interest income (SEK bn) Jan-Sep 2025 vs Jan-Sep 2026 Q2 2026 – Q3 2026 -1% 32.0 31.8 0.2 0.2 0.1 10.9 10.7 -0.3 Jan-Sep 2025 Jan-Sep 2026 Q2 2026 CIB BRB Baltic WAM, Funding, Q3 2026 Other 9
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-Sep 2025 vs Jan-Sep 2026 Q3 2024 – Q3 2026 YoY QoQ Net securities commissions (custody, mutual funds, brokerage) +3% 2.7 2.5 2.9 +13% -13% Q3-24 Q3-25 Q3-26 19.7
Slide 11: Net financial income development
Net financial income development Net financial income (SEK bn) Net financial income development (SEK bn) Jan-Sep 2025 vs Jan-Sep 2026 Q3 2025 – Q3 2026. Mean and standard deviation (SD) based on proforma last 12 quarters excluding strategic shares -17% NFI Divisions NFI Other +1 SD 2.4 1.8 Mean 1.9
Slide 12: Development of CET1 capital buffer quarter-on-quarter
Development of CET1 capital buffer quarter-on-quarter Buffer above regulatory requirement, bps 37 250 20 250 100–300bps Target buffer -35 -22 1 2 30 Jun 2026 Profit net REA asset size REA FX REA models & other 30 Sep 2026 1 Profit net of dividend. 2 Includes REA from asset quality, model updates, ma
Slide 13: IRB model development
IRB model development SFSA decision 14 October 2026 • Temporary increase in capital requirements from 31 December 2026 • Related to regulatory compliance, not underlying credit risk • New model applications will start to be submitted Q3 2027 at the latest 13
Slide 14: 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 15: Appendix
Appendix SIEIB
Slide 16: Financial summary Jan-Sep 2026
Financial summary Jan-Sep 2026 SEK m Jan-Sep 2026 Jan-Sep 2025 Net interest income 31,810 32,007 -1% Net fee and commission income 20,305 19,677 3% RoE 13.9% Net financial income 5,243 6,323 -17% Operating income 57,087 58,045 -2% C/I Operating expenses 23,807 24,144 -1% 0.42 Profit before ECL and i
Slide 17: 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 18: SIEIB
18 SIEIB