Skandinaviska Enskilda Banken AB (OTCPK:SVKEF)
$ 13.391 0 (0%) Market Cap: 26.99 Bil Enterprise Value: 51.71 Bil PE Ratio: 7.84 PB Ratio: 1.32 GF Score: 67/100
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Q1 2019 Skandinaviska Enskilda Banken AB Earnings Call Transcript

Apr 30, 2019 / 09:00AM GMT
Release Date Price: $9.75
Operator

Line is now open, sir. Please go ahead.

Johan Torgeby;publ.;President
Skandinaviska Enskilda Banken AB;CEO & Director

()- -

Hi, everyone, welcome. This is Johan Torgeby, SEB. Welcome to this Q&A call. I thought I'd just give a few-minutes' summary of the quarterly result and then we'll open up for questions. I'm also joined here by Masih and Christoffer, Finance Director and Head of IR.

So we would characterize the first quarter as a very healthy quarter for SEB with good client activity, both in corporate and in private. Particularly strong was areas within LC&FI and the markets business area. We also saw a slight uptick in the mortgage growth rate in Sweden, and we've maintained a fairly robust growth rate for corporate lending, around [6%] to [8%], a little bit stronger in the areas of SMEs.

We saw income Q-on-Q, year-on-year up 10%. Costs, up 4%, and operating profit, up 12%. NII was up 7% year-on-year. Fees and commission, up 2%. And NFI, up 46%.

So all in all, this was a

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