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2015-04-23

SEB: SEB's first quarter 2015 - Operating profit SEK 5.8bn (4.9)

"We operate in exceptional times, where negative interest rates have turned
economic relationships upside down, impacting customer behaviour. Also in
these times our well diversified business mix led to increased operating
profit", saysAnnika Falkengren
, SEB's President and CEO, commenting on the first quarter results.

"This market environment with high volatility and rising stock markets calls
for caution. We have seen that customers demand for hedging, risk management
and long-term savings increased."

Operating income in the first quarter amounted to SEK 11.6bn, an increase of
11 per cent compared to the same quarter 2014. Operating expenses increased
by 4 per cent to SEK 5.6bn as previously communicated due to headwinds from
higher pension costs and currency effects. Operating profit in the quarter
amounted to SEK 5.8bn, which was up 19 per cent compared to the first quarter
2014.

Asset quality remained high. Credit losses amounted to SEK 188m, corresponding
to a net credit loss level of 5 basis points.

Return on equity for the quarter amounted to 13.8 per cent and the Common
Equity Tier 1 capital ratio increased to 16.6 per cent.

The liquidity coverage ratio was 124 per cent, the core liquidity reserve
amounted to SEK 569bn and the total liquid resources were SEK 773bn.

Download Annika Falkengren's presentation here:
http://sebgroup.com/siteassets/investor_relations1/presentations/interim...

Download Fact Book here:
http://sebgroup.com/siteassets/investor_relations1/factbook/2015_Q1_fact...

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| For further information, please contact |
| |
|Jan Erik Back, CFO, +46 8 22 19 00 |
|Jonas Söderberg, Head of Investor Relations, +46 8 763 83 19; +46 73 521 02 66 |
|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 2015, the Group's total assets amounted |
|to SEK 2,979 billion while its assets under management totalled SEK 1,832 |
|billion. The Group has around 16,000 employees. Read more about SEB |
|athttp://www.sebgroup.com. |
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Interim Report January - March 2015
http://hugin.info/1208/R/1913808/683655.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

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