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2014-04-25

SEB: First quarter 2014 - Operating profit SEK 4.9bn (3.7)

Operating profit in the first quarter amounted to SEK 4.9bn (SEK 3.7bn in the
first quarter of 2013).

"Over the past years we in SEB have broadened the customer base in our home
markets. Thus, increased corporate activity was an important contributor to
bottom-line at the same time as we continued to enhance cost and capital
efficiency. The higher activity level on the capital markets indicates that
the corporate sector, supported by a more positive economic climate, has
started to invest in growth after a period of focus on refinancing of
existing business", saysAnnika Falkengren
, SEB's President and CEO, commenting on the first quarter results.

"Our diversified business contributed to a broad increase in operating income,
up by 9 per cent while operating expenses decreased by 4 per cent."

"We continued to generate capital and on a Common Equity Tier 1 capital ratio
(Basel III) of 15.7 per cent, return on equity reached 12.6 per cent."

Operating income in the first quarter amounted to SEK 10.4bn, which was 9 per
cent higher than the first quarter last year but 5 per cent lower than the
previous quarter. Operating expenses, at SEK 5.3bn, were 4 per cent lower
than the first quarter 2013. Operating profit in the quarter amounted to SEK
4.9bn, which was up 31 per cent compared to the first quarter 2013.

Asset quality remained high. Credit losses amounted to SEK 258m, corresponding
to a credit loss level of 7 basis points.

The liquidity coverage ratio was 137 per cent, the core liquidity reserve
amounted to SEK 412bn and the total liquid resources were SEK 747bn.

Download Annika Falkengren's presentation here:
http://www.sebgroup.com/Documents/Investor_Relations/Presentations/Inter...

Download Fact Book
here:http://www.sebgroup.com/Documents/Investor_Relations/Factbook/2014_Q1_fa...

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|For further information, please contact |
| |
| |
|Jan Erik Back, CFO, +46 8 22 19 00 |
|Ulf Grunnesjö, Head of Investor Relations, +46 8 763 85 01; +46 70 763 85 01 |
|Viveka Hirdman-Ryrberg, Head of Corporate Communication, +46 8 763 85 77, +46 |
|70 550 35 00 |
|SEB is a leading Nordic financial services group. As a relationship bank, SEB |
|in Sweden and the Baltic countries offers financial advice and a wide range |
|of financial services. In Denmark, Finland, Norway and Germany the bank's |
|operations have a strong focus on corporate and investment banking based on a |
|full-service offering to corporate and institutional clients. The |
|international nature of SEB's business is reflected in its presence in some |
|20 countries worldwide. At 31 March 2014, the Group's total assets amounted |
|to SEK 2,651 billion while its assets under management totalled SEK 1,504 |
|billion. The Group has around 16,000 employees. Read more about SEB |
|athttp://www.sebgroup.com. |
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Interim Report January - March 2014
http://hugin.info/1208/R/1779917/608369.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SEB via Globenewswire

HUG#1779917

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