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FINANCIALS: SEB 2Q24 Headlines Positive; Better Loan Losses, PBT Beat

FINANCIALS

SEB (SEB: A3 pos/A-/AA-) results headlines look positive for spreads with CET1 ratio in line but loan losses meaningfully better than expected. Revenues beat, too, driving PBT ahead of expectations.

  • “*SEB CET1 RATIO 19%, EST. 19%
  • *SEB 2Q PROVISION FOR CREDIT LOSSES SEK44M, EST. SEK311.4M
  • *SEB 2Q TOTAL OPERATING INCOME SEK20.31B, EST. SEK19.88B
  • *SEB 2Q OPER PROFIT SEK11.84B, EST. SEK11.13B
  • *SEB SAW INCREASE IN INVESTMENT BANKING ACTIVITY
  • *SEB SAYS COST TARGET FOR FY IS UNCHANGED” - BBG

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