SEB's third quarter 2012 results presentation
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SEB's third quarter 2012 results presentation

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Presentation of SEB's third quarter 2012 results

Presentation of SEB's third quarter 2012 results

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    SEB's third quarter 2012 results presentation SEB's third quarter 2012 results presentation Presentation Transcript

    • SEB January-September 2012 Annika FalkengrenResults presentation President & CEO
    • Highlights Q3 2012Robust result in defensivemarket environmentMore customers and highercustomer satisfactionResilience and flexibility:Capital, liquidity and costsQ3 2012 PRESS CONFERENCE 2
    • Profit and loss trendProfit and loss development Q3 2010 – Q3 2012 (SEK bn) 9.7 5.6 -0.2 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Operating income Operating expenses Net credit lossesPre-provision and operating profit Q3 2010 – Q3 Q3 2004 – Q3Third quarter pre-provision and operating profit 2012 (SEK bn) 2012 (SEK bn) Operating profit Pre-provision profit 4.1 Q3-04 Q3-10 Q4-10 Q3-05 Q3-06 Q1-11 Q3-07 Q2-11 Q3-08 Q3-11 Q3-09 Q4-11 Q3-10 Q1-12 Q2-12 Q3-11 Q3-12Q3 2012 PRESS CONFERENCE 3
    • Income statementProfit and loss (SEK bn) Q3-12 Q2-12 % Q3-11 % Total Operating income 9,681 9,916 -2 9,207 5 Total Operating expenses -5,580 -5,692 -2 -5,533 1 Profit before credit losses 4,101 4,224 -3 3,674 12 Net credit losses etc. -185 -273 -32 35 Operating profit 3,916 3,951 -1 3,709 6Operating income by type, Q3 2012 vs. Q2 2012 (SEK bn) 4.5 3.2 9% 12% Customer- 4.0 4.0 45% driven NII 1.1 0.9 34% Q3-12 Q2-12 Q3-12 Q2-12 Q3-12 Q2-12 Q3-12 Q2-12 Net interest Net fee and Net financial Net life insurance income commissions income incomeQ3 2012 PRESS CONFERENCE 4
    • Net interest income developmentNet interest income Q3 2010 – Q3 2012 (SEK bn) 5.0 4.5 4.0 3.5 3.0 2.5 Q3 Q4 Q1-11 Q2 Q3 Q4 Q1-12 Q2 Q3Net interest income by income type Q3 2010 – Q3 2012 (SEK bn) 3.2 0.8 0.5 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Lending Deposits Funding & otherQ3 2012 PRESS CONFERENCE 5
    • Net fee and commission income developmentNet fee and commissions Q3 2010 – Q3 2012 (SEK bn) 5,0 4,5 4,0 3,5 3,0 2,5 Q3-10 Q4 Q1-11 Q2 Q3 Q4 Q1-12 Q2 Q3Gross fee and commissions by income type Q3 2010 – Q3 2012 (SEK bn) 2,1 1,6 0,6 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Advisory, secondary markets and derivatives Custody and mutual funds Payments, cards, lending, deposits and guaranteesQ3 2012 PRESS CONFERENCE 6
    • Net financial income developmentNet financial income Q3 2010 – Q3 2012 (SEK bn) 2,5 2,0 1,5 Excl. GIIPS de-risking 1,0 0,5 0,0 Q3-10 Q4 Q1-11 Q2 Q3 Q4 Q1-12 Q2 Q3Net financial income development (SEK bn) Stability in trading income NFI Divisions NFI Treasury & Other GIIPS  Stability from customer-driven 1,2 1,3 flows in divisions 1,2 1,2 1,1 1,2 1,0 0,0 -0,2  Volatility from MTM of liquidity -0,2 -0,2 portfolio Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12Q3 2012 PRESS CONFERENCE 7
    • Increased operating leverageAverage quarterly income (SEK bn) Average quarterly expenses (SEK bn) 9.2 9.4 9.7 5.9 5.8 5.6 Avg 2010 Avg 2011 Avg 2012 Avg 2010 Avg 2011 Avg 2012 Operating leverage Average quarterly profit before credit losses (SEK bn) 4.1 3.2 3.6 Avg 2010 Avg 2011 Avg 2012Q3 2012 PRESS CONFERENCE 8
    • Continued high asset qualityDistribution of lending portfolio and credit losses (SEK bn) Nordics 75% Baltics 9% Other Germany -0.2 3% 13% Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12NPLs by region Q3 2010 – Q3 2012 (SEK bn) Nordics Germany Baltics 10.1 2.6 1.6 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12 Q3-10 Q3-11 Q3-12Q3 2012 PRESS CONFERENCE 9
    • Divisional performance Operating profit 9M 2012 vs. 9M 2011 (SEK m) Jan-Sep 2011 Jan-Sep 2012 7,0006,000 5,0004,000 3,000 2,000 1,000 0 Merchant Banking Retail Banking Wealth Management Life BalticQ3 2012 PRESS CONFERENCE 10
    • Investments in three focus areas Corporate franchise in the Nordics and Germany SME platform in Sweden Long-term savingsQ3 2012 PRESS CONFERENCE 11
    • Franchise growth in the Nordics and Germany Product penetration drives profitability Expansion KPIs cash management trade finance fund services corporate finance +276 +SEK 130bn life foreign exchange leasing corporate cards custody new large cap clients new loans and commitments relationship lending equities capital markets asset management commodities structured finance Increased bond market activity Average client profitability Joint lead (EUR 400m) Joint lead (EUR 500m) Joint lead (EUR 400m) Joint lead (SEK 1bn) 1 2 3 4 5 >5 Number of product clusters per customerQ3 2012 PRESS CONFERENCE 12
    • SME expansion in Sweden SKI corporates – customer satisfaction SME growth Sweden Active SME-clients (thousands) +22,000 120 74 100 80 72 60 40 70 2008 2009 2010 2011 Q3 2012 SME Bank of the Year 68 66 64 Based on survey 2007 2008 2009 2010 2011 2012 of 1,000 micro-SMEs SEB SHB Nordea Swedbank Industry for the first timeQ3 2012 PRESS CONFERENCE 13
    • Holistic perspective on SavingsHousehold deposits (SEK bn) Unit-linked AuM (SEK bn) 160 200 140 120 160 100 80 YTD 120 YTD 60 +11 bn 80 +14bn 40 40 20 0 0 2008 2009 2010 2011 Sep 2012 2008 2009 2010 2011 Sep 2012 Private Banking AuM (SEK bn) 300 250 200 YTD 150 +23bn 100 50 0 2008 2009 2010 2011 Sep 2012Q3 2012 PRESS CONFERENCE 14
    • SEB strengthens capitalisation across all metrics Core/common equity tier 1 ratios18% 16.516%14% 13.312%10% 8% 6% 4% 2% 0% Equity/Assets Basel I Basel II transition rules Basel II Basel III post IAS 19 Dec-10 Dec-11 Jun-12 Sep-12Q3 2012 PRESS CONFERENCE 15
    • Balance sheet strengthened further Strong capital and liquidity position Core Tier 1 ratio 16.5% Liquidity reserve ~25% of balance sheet LCR 154% Loan-to-deposit ratio 138% NPL coverage ratio 67%Q3 2012 PRESS CONFERENCE 16
    • Outlook Maintained resilience in an uncertain market situation Relentless customer focus Continued productivity and efficiency measuresQ3 2012 PRESS CONFERENCE 17
    • The Relationship bank in our part of the worldQ3 2012 PRESS CONFERENCE 18