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SEB's first-quarter 2012 results presentation
 

SEB's first-quarter 2012 results presentation

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SEB published its first-quarter 2012 results on 24 April. CEO Annika Falkengren presented the results at a press conference.

SEB published its first-quarter 2012 results on 24 April. CEO Annika Falkengren presented the results at a press conference.

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    SEB's first-quarter 2012 results presentation SEB's first-quarter 2012 results presentation Presentation Transcript

    • SEB January-March 2012 Annika FalkengrenResults presentation President & CEO
    • Highlights Q1 2012 Solid growth of customer business Continued strong asset quality Cost efficiency 2
    • Profit and loss trendProfit and loss development Q1 2010 – Q1 2012 (SEK bn) 9.6 5.7 -0.2 Q1-12 Q1-12 Q1-12 Operating income Operating expenses Net credit lossesPre-provision profit and operating profit (SEK bn) Operating profit Pre-provision profit 3.9 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 3
    • Income statement Q1 2012Profit and loss (SEK bn) Q1-12 Q4-11 % Q1-11 % Total Operating income 9,589 9,334 3 9,644 -1 Total Operating expenses -5,676 -5,928 -4 -5,806 -2 Profit before credit losses 3,913 3,406 15 3,838 2 Net credit losses etc. -204 -241 433 Operating profit 3,709 3,165 17 4,271 -13Operating income by type, Q1 11 vs. Q1 12 (SEK bn) 4.2 4.2 3.5 3.3 9% 14%Customer- 3.5 3.9 1.2 1.4 43% driven NII 0.8 0.9 34% Q1-11 Q1-12 Q1-11 Q1-12 Q1-11 Q1-12 Q1-11 Q1-12 Net interest Net fee and Net financial Net life insurance income commissions income income 4
    • SEB’s DNACustomer segments Size Product penetration Income type 2,000 LendingLarge customers NetCorporates Deposits interest Liquidity income 700Financial customersInstitutions Asset management 400k Custody customers Life Non-netSME interest Payments/cards income 4m customers FXPrivate 5
    • A Nordic bank with global reach Following in our customers’ footprint Nordics 28%SEB in Asia Finland Asia S:t Petersburg Americas Norway  25% income Sweden Estonia 14% 18% Denmark growth Latvia Moscow Northern Europe Lithuania Dublin Beijing Shanghai New York 25.5% Warsaw Full service offering New Delhi Hong Kong  to London Germany Corporates & Institutions Singapore Kiev Luxembourg through 5 regional offices and Geneva 200 employees São Paulo RoW 14.5%Note: Sales of 120 largest listed Swedish corporatesSource: Annual reports 6
    • For the first time SEB named Best Bank for Large Corporates and Institutions in the Nordics 2011 Voice of the customer: SEB is the #1 wholesale bank in the Nordics +20% SEB SEB SEB #2 #3 SEB SEBNote: Net change between 2010 and 2011 (left-hand graph). Country scores 2011 (right-hand graph)The result is based on 62 surveys across the Nordics. Source: Prospera Large Corporates & Institutions Surveys 2011 7
    • Net interest income developmentNet interest income Q1 2010 – Q1 2012 (SEK bn) 6 5 4 3 2 1 0 Q1-10 Q2 Q3 Q4 Q1-11 Q2 Q3 Q4 Q1-12Net interest income by income type Q1 2010 – Q1 2012 (SEK bn, gross) 3.0 0.9 0.3Q1 -10 Q1 -11 Q1 -12 Q1 -10 Q1 -11 Q1 -12 Q1 -10 Q1 -11 Q1 -12 Lending Deposits Funding & other 8
    • Net fee and commission income developmentNet fee and commissions Q1 2010 – Q1 2012 (SEK bn) 5 4 3 2 1 0 Q1-10 Q2 Q3 Q4 Q1-11 Q2 Q3 Q4 Q1-12Gross fee and commissions by income type Q1 2010 – Q1 2012 (SEK bn) 2.2 1.6 0.7 Q1-10 Q1-11 Q1-12 Q1-10 Q1-11 Q1-12 Q1-10 Q1-11 Q1-12 Advisory, secondary markets and derivatives Custody and mutual funds Payments, cards, lending, deposits and guarantees 9
    • Net financial income developmentNet financial income Q1 2010 – Q1 2012 (SEK bn) 2.0 Reversal of 2011 MTM effect on non-GIIPS 1.5 Excl. GIIPS de-risking 1.0 0.5 0.0 Q1-10 Q2 Q3 Q4 Q1-11 Q2 Q3 Q4 Q1-12Net financial income development (SEK bn) NFI Divisions NFI Treasury & Other GIIPS  Investment of excess liquidity in a SEK 80bn market valued portfolio 1.2 1.2 1.2 1.1 1.2  Highest quality sovereign and 0.0 -0.2 -0.2 0.0 covered bonds with full central -0.2 bank eligibility Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 10
    • Operating expenses developmentCost by type (SEK bn) Cost cap (SEK bn) Q1 11 3.6 3.6 Q1 12 0.9 0.8 0.9 0.9 0.4 0.5 23.1 Staff costs IT costs Other costs Deprec. etc.Operating expense trend, 12m rolling (SEK bn)26252423222120 Q1-10 Q2 Q3 Q4 Q1- 11 Q2 Q3 Q4 Q1-12 11
    • Continued strong asset qualityDistribution of lending portfolio and credit Non-performing loans/lending and non-loss levels by geography (per cent) performing loans (SEK bn) SEB Group 0.06 25 NPLs 1.8% NPL/Lending (RHS) 20 Nordics 1.2% 0.07 15 10 0.6% Baltics 5 0.09 Other Germany 0 0.0% 0.00 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12Non-performing loans in relations to the loan portfolio outside the Baltic countries 1.25% 0.58% 0.49% 0.46% 0.53% 0.01% Commercial real Wholesale and retail Manufacturing Shipping Other SEB Group estate 12
    • Divisional performanceOperating profit Q1 2012 vs. previous quarters (SEKm) 2 5002 000 1 500 1 000 500 0 Merchant Banking Retail Banking Wealth Management Life Baltic Q1-11 Q4-11 Q1-12Note: Shaded area of Baltic division shows net release of credit provisions 13
    • SEB’s DNACustomer segments Income type (SEK bn) Net interest income 5Large 4 3Corporates 2 1 0 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12FinancialInstitutions Commission and net life income 5 4 3 2 1 0SME Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 New issues, advisory, secondary market, derivatives fees (gross) 2 1 0Private Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 14
    • Customer segments in Merchant BankingLarge Corporates Financial Institutions ~65% of total revenues ~35% of total revenuesIncome distribution Income distribution Relationship lending Product Relationship income Product lending incomeMB’s incomedevelopment Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Operating income Operating profit 15
    • Continued successful execution in other segmentsSMEs in Sweden Private individuals New SME New full-service customers +16,400 customers +70,400 Loan and commitments (SEK bn) 8,500 ISK accounts 200 +26bn Holistic 150 savings 100 offering 0% fee index fund 50 examples launch this summer 0 2007 2008 2009 2010 2011 Q1-12 Q1 2011 Market share Q1 2012 Customer interaction 4x example mobile banking 11.5% 12.2% customer visitsNote: Comparison year-on-year; change in full-service customers in Sweden and Baltics 16
    • ResilienceStrong capital positionHigh liquidity reserves Good market access Solid asset quality 17
    • Solid growth ofcustomer businessContinued strongasset qualityCost efficiency 18
    • The leadingrelationship bank in our part of the world 19