Q4 2023 Financial Update
0%
Q1 2020
Q3 2020
Q1 2021
50%
24.3026.3%
20.5% 1.4%
26.6%
22.7%
22.3% 20.9023.3% 1.4%
45%
0%
PWM&FO
2012
2013
2014
2015
2016
2017
Aspiration:
ROBE >25%
C/I <50%
2018
2019
2020
14.3%
12.9% 15.5% 12.5% 11.7%
10.1% 10.3% 10.4%
7.9%
LC&FI
Aspiration:
ROBE >13%
C/I <45%
2021
2022
2023
Appendix
Financial performance by division in 2023
0%
0%
Life
Q3 2021
Q1 2022
Q3 2022
60%
49.2%
45.7%3.5%5.5%4.5%
42.2%
40%
45%
27.1%
20%
2012
2013
2014
2015
2016
2017
2018
2019
2020
C&PC
30%
80%
Aspiration:
ROBE >16%
C/I <40%
30%
26.2%
80%
22.3% 21.9% 21.4%
17.8%
20%
14.3% 14.5%
40%
10%
18.2%
20%
147% 15.2% 15.0%.
15.3%
13.0%
14.2% 14.8%
40%
10%
C/I ratio (LHS)
Return on business equity (RHS)
Baltic
Aspiration 1:
ROBE >20%
C/I <40%
2021
2022
2023
0%
0%
Aspiration:
ROBE >30%
C/I <45%
2012
2013
2014
2015
9.7%
12.9% 14.5%
18.6% 19.3%
24.4% 22.6%
24.5%
Q1 2023
Q3 2023
0%
0%
20.5%
22.4% 23.2% 22.6% 24.0%
43.7%
2012
2013
2014
2015
2016
2017
Note: SEB introduced long-term divisional aspirations in Q4 2020, for profitability (ROBE) and cost efficiency (C/I-ratio). The aspirations for each division have been set mainly based on two
factors. Firstly, each division will have the ambition to achieve best-in-class profitability and cost efficiency compared with similar businesses among relevant peers. Secondly, each division's SEB
aspirations are set so that they enable SEB to achieve its long-term aspiration of 15 per cent return on equity on group level. These long-term aspirations will be evaluated annually.
1 Updated Cost/Income aspiration as per 2024 - please see next slide.
2018
2019
2020
2021
2022
2023
35.1% 40%
31.7%
29.4% 29 40
27.5%
45%
20%
60%
Investment Management
Aspiration:
ROBE >40%
C/I <45%
35.3%
0%
6.7% 10.1%
16.3% 19.0%
0%
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2016
2017
2018
2019
2020
2021
2022
2023
60%
45.8%
40%
28.6%
22.3%
16.8%
20%
0%
76.1%
55.6%
80%
42.9%
61.2%
46.4% 48.1%
52.0% 60%
40%
20%
0%
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