Strategy 2030: Investments to Future-Proof SEB
Summary key financials
YTD 2022
2021
2020
2019
2018
2017 2016
2015
2014
2013
2012
2011 1)
Return on equity, % 2)
13.5
13.9
10.3
13.8
13.4
12.9
11.3
12.9
13.1
13.1
11.5
12.3
Cost/income ratio, % 3)
40
42
45
46
48
48
50
49
50
54
61
62
Net ECL level / Credit loss level, % 4)
0.07
0.02
0.26
0.10
0.06
0.05
0.07
0.06
0.09
0.09
0.08
-0.08
Stage 3 loans/total loans, gross / NPL/lending, % 5)
0.41
0.53
0.87
0.67
0.50
0.5
0.5
0.6
0.8
0.7
1.0
1.4
Liquidity Coverage Ratio (LCR), %6)
120
145
163
218
147
145
168
128
115
129
ΝΑ
NA
Net Stable Funding Ratio (NSFR), %
109
111
CET1 ratio, % 7)
Total capital ratio, % 7)
Leverage ratio, % 7)
18.1
19.7
21.0
17.6
17.6
19.4
18.8
18.8
16.3
15.0
ΝΑ
ΝΑ
21.6
23.3
25.1
23.3
22.2
24.2
24.8
23.8
22.2
18.1
NA
NA
4.3
5.0
5.1
5.1
5.1
5.2
5.1
4.9
4.8
4.2
ΝΑ
ΝΑ
18,091 21,847 12,022
10,428
7,734
8,046
6,859
7,196 6,763 5,958
5,191
4,490
2,018
2,682
2,106
2,041
1,699
1,830
1,749
1,668
1,708
1,475
1,328
1,261
Assets under custody, SEK bn
Assets under management, SEK bn
Notes:
1)
Restated for introduction of IAS 19 (pension accounting).
2)
Excl. Items affecting comparability incl. technical impairment (write-down) of goodwill
a.
2014: Excluding capital gains of SEK 2,982m (sale of non-core business and shares)
b.
C.
2015: Excluding a cost of SEK 902m relating to the Swiss Supreme Court's not unanimous ruling against SEB in the long running tax litigation relating to SEB's refund claim of withholding tax dating back to the years 2006 through 2008
2016: Excluding the effects of the technical impairment of goodwill to the amount of SEK 5,334m and SEK 615m of one-off costs and derecognition of intangible IT assets no longer in use and the positive tax effect SEK 101m. Excluding a capital gain of SEK 520m from
the sale of VISA Europe shares by the Baltic subsidiaries and the generated tax expence SEK 24m
d.
e.
f.
2017: Excluding a dividend from VISA of SEK 494m, costs related to the transformation to a German branch of SEK 521m, transfer of pension obligation to BVV of SEK 891m, impairment and derecognition of IT intangibles of SEK 978m.
2018: Excluding the sale of SEB Pension SEK 3.6bn and settlement of UC AB's merger SEK 0.9bn
2020: Excluding administrative fine from Swedish FSA of SEK 1.0bn
To show the underlying operating momentum in this presentation:
3)
a. and b.
c. and d.
The FY 2014 and FY 2015 results' presentations, profitability, capital generation and efficiency ratios exclude the effects of the above-mentioned items affecting comparability
The FY 2016 results, profitability and efficiency ratios exclude the effects of the above mentioned items affecting comparability.
Restated resolution fee 2020 and 2021
4) Net aggregate of write-offs, write-backs and provisioning. Net ECL (expected credit loss) level (2018) is based on IFRS 9 expected loss model, net credit loss level (2011-2017) is based on IAS39 incurred loss model..
5) ECL coverage ratio for Stage 3 (credit-impaired) loans is based on IFRS 9 expected loss model, NPL coverage ratio and NPL/lending ratio (2011-2017) are based on IAS39 incurred loss model. NPLs = Non Performing Loans, including individually and portfolio assessed impaired
loans (loans >60 days past due).
6) LCR based on EU definition as from 2018 and on SFSA definition 2013-2017.
SEB
7) 2016-2014 is according to CRD IV/CRR and 2013 was estimated based on SEB's interpretation of future regulation.
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