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Mats Torstendahl
Head of Retail Banking




                         Retail Banking
                          presentation...
Organisation
                                                            President &
                                     ...
SEB's retail operations
H1: 2009


                         812 FTE's
                         3.2m cards
              ...
Retail Sweden in short
                    Retail Sweden - Strong performance
                     Attractive customer ba...
Retail Sweden, H1 2009
SEK m            Jan – Jun 2009  2008   Highlights

Total income              3,231    4%      Bo...
Financial performance over time
    Retail Banking Sweden
                                     Income      Expenses       ...
Changes in income generation
NII Q3 ’08 – Q2 ’09, Retail Banking, Sweden



                             24%
   Mortgages ...
Mortgages private market
Total Sweden, volumes and margins

           Outstanding volume, SEK bn   Average margin
250    ...
Mortgages private market
Retail Sweden, market share, per cent

                                        Sales             ...
Equities
Commissions re-bounce
Light in the tunnel….?                     +21%



                                   Q1 20...
Change in expense level
– driven by pensions
Swedish Retail, H12009 vs. H12008, SEK m
                   Cost base        ...
Credit losses
Retail Sweden Q1 ’07 – Q2 ’09, SEK m


120

100

 80

 60

 40

 20

  0

-20
      Q1    Q2    Q3    Q4    ...
Credit loss level
 Retail Sweden: H1 2009
           Component                                         Total:             ...
Stabilising economy     Improve customer
but long and winding    experience &
road to recovery        satisfaction

SEB we...
Appendix
Business volume development
      Retail Sweden, SEK bn                                                   Corporate
      ...
SEB Retail Banking 2009
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SEB Retail Banking 2009

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Retail Banking Presentation. January - June 2009.

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Transcript of "SEB Retail Banking 2009"

  1. 1. Mats Torstendahl Head of Retail Banking Retail Banking presentation January – June 2009
  2. 2. Organisation President & CEO Annika Falkengren Group Credits & CFO Group IT Group Risk Control Johan Andersson Jan Erik Back Ulf Thorstensson Business Support & Compliance HR & Org. Dev. Group Operations Group Staff Gent Jansson Ingrid Engström Pia Warnerman Bo Magnusson, Deputy CEO Internal Audit Group Strategy & Group Staff Business Dev. Agneta Brevenhag* Hans Larsson Bo Magnusson Merchant Retail Banking Wealth Life Baltic Banking Management Magnus Carlsson Mats Torstendahl Fredrik Boheman Anders Mossberg Martin Johansson * Reports directly to the Board
  3. 3. SEB's retail operations H1: 2009  812 FTE's  3.2m cards  945 FTE's  #1 inom charge card  59 branches  2 642 FTE's  #2 position, ~25%  161 branches market share  #4 position, 10-15% market share  883 FTE's  60 branches  #2 position, ~15%  1 716 FTE's market share  174 branches  ~1% market share  1 411 FTE's  75 branches  # 1 position, ~30% market share
  4. 4. Retail Sweden in short Retail Sweden - Strong performance  Attractive customer base – sustained growth in SME and affluent segment  Proven earnings capacity – 4% income growth H1-09 vs. H1-08 – Mortgage volumes +6% since year start  Competitive profitability – 19% RoE in first half of 2009  Innovative product offerings – Enkla firman, SME product of the year  Healthy credit quality – Credit losses in H1 manageable: SEK 185m
  5. 5. Retail Sweden, H1 2009 SEK m Jan – Jun 2009  2008 Highlights Total income 3,231 4%  Both the SME and mass affluent Interest, net 2,344 6% segment has continued to develop well during 2009 Commission, net 727 -4% – 2,800 net new SME customers Total expenses -2,034 4% – 1,400 net new mass affluent customers  Importance of lending is growing Profit bef. credit losses 1,197 3% – Increasing margins and sustained Credit losses, net -185 462% growth in lending volumes, Operating profit 1,012 -10% not least in mortgages – Sharply falling margins and limited RoE, % 19.0 22.0 growth in deposit volumes C/I 0.63 0.63  Although higher than previous year, credit loss-level is still reflecting good credit quality Total lending 322,500 6% Total deposits 155,000 4%
  6. 6. Financial performance over time Retail Banking Sweden Income Expenses SEK m 2 000 1 500 1 000 500 0 Q1 07 Q2 07 Q3 Q4 Q1 08 Q2 08 Q3 Q4 Q1 09 Q2 09 Credit losses Profit (after Credit losses) 800 600 400 200 0 -200 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09
  7. 7. Changes in income generation NII Q3 ’08 – Q2 ’09, Retail Banking, Sweden 24% Mortgages 21% 28% 35% Other lending 25% 28% 30% 33% Deposits 54% 48% 42% 33% Q3 2008 Q4 2008 Q1 2009 Q2 2009
  8. 8. Mortgages private market Total Sweden, volumes and margins Outstanding volume, SEK bn Average margin 250 1,25% 200 1,00% 150 0,75% 100 0,50% 50 0,25% 0 0,00% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2006 2007 2008 2009
  9. 9. Mortgages private market Retail Sweden, market share, per cent Sales Volume 20 18 16 14 12 10 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4* Q1 Q2 Q3 Q4 Q1 Q2 06 07 08 09 * New measurement method from Q4 2007. Lowers the volume market share with approximately 0.2 percentage points
  10. 10. Equities Commissions re-bounce Light in the tunnel….? +21% Q1 2009 Q2 2009 Total commissions, net Equity linked bonds -17% +26% Q1 2009 Q2 2009 Mutual funds YTD YTD YTD 2007 2008 2009 +20% Q1 2009 Q2 2009
  11. 11. Change in expense level – driven by pensions Swedish Retail, H12009 vs. H12008, SEK m Cost base Increased pension cost 2 200 2 000 176 1 800 1 600 1 950 1 400 1 200 1 000 Total expenses H1-08 Total expenses H1-09 Number of FTEs: 2 865 2 642
  12. 12. Credit losses Retail Sweden Q1 ’07 – Q2 ’09, SEK m 120 100 80 60 40 20 0 -20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 '07 '07 '07 '07 '08 '08 '08 '08 '09 '09
  13. 13. Credit loss level Retail Sweden: H1 2009 Component Total: Credit loss level 185 MSEK Other loans to private individuals 56 bps Mortgage loans to 0.4 bps private individuals Loans to 28 bps corporates Note: Including specific and collective provisions. Losses and loss level in relation to on and off balance exposure. Annualized rate.
  14. 14. Stabilising economy Improve customer but long and winding experience & road to recovery satisfaction SEB well positioned Grow SME – not only to support our the micro segment customers and develop the business Strengthen remote in core areas channels (e.g. OITR) Swedish Retail is one Leadership & employee of these core areas development
  15. 15. Appendix
  16. 16. Business volume development Retail Sweden, SEK bn Corporate Private Mortgages Other lending* Deposits 250 250 250 200 200 200 150 150 150 100 100 100 50 50 50 0 0 0 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2 06 07 08 09 06 07 08 09 06 07 08 09 * Excluding leasing
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