SEB Nordic Outlook
63
3:
Baltic
Credit portfolio growth impacted by economic slowdown due to Covid-19
restrictions
EUR bn
Strong development of profitability and efficiency
SEK bn
15
Business equity
Return on business equity
-C/I
5
5
5
9
9
5
6
6
6
6
6
7
7
8
0.62
0.58
10
11
11
11
10
0.52
10
10
0.50 0.50
0.51
2012 2013
2014
2015
2016
2017
2018 2019 2020
Sept
2021
0.44
0.41
0.39
0.40 0.39
Corporate & property mgmt
Households
Second largest bank in terms of lending market share in the Baltic region
%
29.6%
24.4% 22.6% 24.5%
22.6%
18.6% 19.3%
12.9% 14.5%
13.1%
9.7%
17%
Other
24%
32%
10%
21%
Luminor
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD
21%
2021
26%
30%
SEB
21%
39%
32%
26%
Swedbank
Estonia
Latvia
Lithuania
2020: Business equity increased due to updated credit risk models in Q1
2011-2018: Excluding Real Estate Holding Companies
2011: Write-back of provisions of SEK 1.5bn
Source: Estonian Financial Supervision Authority, Association of Latvian Commercial Banks, Association of
Lithuanian Banks (Q1 2021)
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