SEB Nordic Outlook

Long-term business model focused on positive operating jaws Profit development 1990-Q3 2021, rolling 12 months, SEK bn 50 40 30 50 CAGR 1990-2020 +5% Income CAGR 2010-2020 +3% Income +4% Expenses +0% Expenses 10 +7% +6% 1 Profit Profit 0 1990 2000 2010 Q3 2021 -10 Operating income Operating profit before credit losses Operating profit Operating expenses Credit losses/Net Expected Credit losses 20 20 a 1 Consequences of Swedish economic paradigm shift and the ensuing financial crisis. SEB was one of two major banks that was not taken over or directly guaranteed by the State. 2 Credit losses driven by the Baltics during the financial crisis - important to note the strong revenue generation and overall profitability during this period notwithstanding the financial crisis. Note: 2014-2020 adjusted for items affecting comparability. SEB

View entire presentation