SEB's fourth-quarter 2013 results presentation.

1. Annual Accounts 2013
Annika Falkengren
President & CEO

2. Highlights 2013
Customer-driven
growth
Broadened
earnings base
Cost and capital
efficiency
2

3. The relationship bank
Leading Nordic bank for
corporates & institutions
SME Bank of the
Year in Sweden
Top universal bank in
Sweden and the Baltics
Income distribution
2013
Best Private Bank
Sweden & Nordics
Willingness to
recommend
Willingness to
recommend
#1
#1
Nordics
Nordics
Note: SME Bank of the Year – Privata Affärer (December 2013), Best Private Bank Sweden & Nordics – PWM/The Banker
(November 2013), Willingness to Recommend Corporates – TNS/SIFO Prospera (January 2014), Willingness to
Recommend Financial Institutions – TNS/SIFO Prospera (December 2013)
3

4. Financial summary
Profit and loss (SEK m)
Q4-13
Total Operating income
Total Operating expenses
Profit before credit losses
Net credit losses etc.
Operating profit
% Q3-13
% Q4-12
FY 2013
FY 2012
%
11,030
-5,661
5,369
-360
5,009
+7
+4
+10
+14
-13
+72
+76
38,823
-23,652
15,171
-936
14,235
+7
-6
+27
+8
41,553
-22,287
19,266
-1,139
18,127
+27
Operating income by type, Q4 2013 vs. Q4 2012 (SEK bn)
4.9
Income distribution Q4 2013
3.9
8%
11%
1.2
Q4-13 Q4-12
Net interest
income
Q4-13Q4-12
Net fee and
commissions
0.9
Q4-13 Q4-12
Q4-13 Q4-12
Net financial Net life insurance
income
income
45%
36%
4

5. Net interest income development
Net interest income
2012 vs. 2013 (SEK bn)
+7%
17.6
Net interest income type
Q4 2011 – Q4 2013 (SEK bn)
Lending
4.0
3.2
3.4
Q4-11
Q4-12
Q4-13
0.6
0.5
Q4-12
Q4-13
0.4
0.4
Q4-12
Q4-13
18.8
Deposits
0.9
Q4-11
Funding & other
0.2
Jan-Dec '12
Jan-Dec '13
Q4-11
5

6. Net fee and commission income development
Net fee and commissions
2012 vs. 2013 (SEK bn)
+8%
Gross fee and commissions by income type
Q4 2011 – Q4 2013 (SEK bn)
Advisory, secondary markets and derivatives
0.7
Q4-12
Q4-13
1.8
1.8
1.8
Q4-11
13.6
0.7
Q4-11
14.7
0.9
Q4-12
Q4-13
Custody and mutual funds
Payments, cards, lending, deposits & guarantees
2.2
Jan-Dec '12
Jan-Dec '13
2.4
2.3
Q4-11
Q4-12
Q4-13
6

7. Net financial income development
Net financial income
2012 vs. 2013 (SEK bn)
Net financial income Q4 2011 – Q4 2013 (SEK bn)
Divisions
-12%
Divisions
4.5
Divisions
4.6
4.6
4.1
1.1
1.2
1.3
Q4-11
Q1-12
Q2
Non-division
1.4
1.0
1.1
1.1
1.2
Q3
Q4-12
Q1-13
Q2
Q3
Q4-13
Q4-12
Q1-13
Q2
Q3
Q4-13
0.9
Economic cycle indicator
110
105
100
95
90
85
Jan-Dec '12
Jan-Dec '13
Q4-11
Q1-12
Q2
Q3
7

8. Increased operating leverage
Average quarterly expenses (SEK bn)
Average quarterly income (SEK bn)
9.2
9.4
9.8
10.4
5.8
Avg 2010
Avg 2011
Avg 2012
Avg 2013
5.9
5.7
5.6
Avg 2010
Avg 2011
Avg 2012
Avg 2013
Average quarterly pre-provision profit (SEK bn)
3.4
3.5
Avg 2010
Avg 2011
4.1
Avg 2012
4.8
Avg 2013
Notes: Excluding one-offs (restructuring in 2010, and bond buy-back and IT impairment in 2012)
Estimated IAS 19 costs in 2010
8

9. Divisional performance
Operating profit 2013 vs. 2012 (SEK bn)
2012
8.2
2013
5.7
1.6
Merchant Banking
RoBE
13%
Retail Banking
22%
1.9
1.3
Wealth Management
Life
Baltic
15%
20%
13%
9

10. Customer-driven growth
Large Corporates and Financial Institutions
New client income contribution (%)
10%
+413
7%
+171
+305
5%
+209
+49
+93
2%
# of
new
clients
+89
+100
2010
2011
2012
2013
10

11. Broadened corporate platform outside Sweden
Credit portfolio (SEK bn, FX-adj)
Denmark
Finland
Norway
Operating profit (SEK bn, FX-adj)
Germany
310
CAGR
2010-2013
2010
Denmark
CAGR
2010-2013
0.4
+28%
0.8
2013
+30%
227
2010
+10%
Finland
+16%
+4%
Germany
1.0
2013
2010
2013
+25%
0.9
2013
2010
Norway
2010
0.4
1.5
0.7
0.9
+15%
+11%
2013
11

12. Higher number of full-service customers
(thousands)
SME
+9.5
140
+7.2
2012
2013
2012
94
2013
Private
+20.0
+17.4
2012
844
466
2013
2012
2013
12

13. Mobile banking and payment services
Increasing contact points from customers
# of visits per month (millions)
Mobile money transfers 2013
Total # of Swish transactions (thousands)
6
700
600
500
400
300
200
100
0
Mobile
Private
5
Desktop
Private
4
3
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2
Desktop
Corporate
1
0
2009
Mobile
Corporate
2010
2011
2012
2013
13

14. Continued resilience and flexibility
Liquidity
Operating expenses
(SEK bn)
Balance sheet ratios
Capital
15.0%
Common Equity Tier 1
Funding
129%
LCR
Asset quality
114%
0.09%
Core Gap ratio
Credit Loss Level
Cost cap extended to 2015
23.7
23.8
23.5
22.9
22.3
2010
2011
2012
2013
<22.5bn
2014
2015
14

15. Income growth in line with communicated target
ILLU
From Q4 2012:
rofit
ting p
Opera )
EK bn
(S
te &
Priva tes
ora
Corp
t
Asse g
erin
Gath
Baltic
STR
ATIV
E
x. 20
Appro
Growth target 2012-15
s&
Corp
Large tions
Institu
3
years
3%
rox. 1
= app
15.4
Capit
2012
%
1
ROE 1
al
>peers
40%
t ROE
yout >
Targe
nd pa
divide
ming
ssu
tion a
genera
”
”2015
x. 13%
appro
ROE
Each
year
Actual
growth
2013
Merchant Banking
~15%
~5%
vs. +6%
Retail Banking
~20%
~6%
vs. +10%
Life & Wealth
~5%
Baltic
~15%
~5%
vs. +3%
Group
~15%
~5%
vs. +7%
~1.5% vs. +2%
15

16. Financial performance
2012
2013
RoE
11.1%
13.1%
CET 1 ratio
13.1%
15.0%
5.31
6.74
2.75
4.00
Basel III
EPS
SEK per share
Proposed dividend
SEK per share
16

17. Relationship banking remains the growth driver
Human touch
Capability
 Culture & people
 Advisory-driven
 Service-oriented
 Accessibility
 Balance sheet strength
 Full-service bank
…the most
committed
employees
…developing the
most loyal
customers
…doing more
business with
existing customers
17

18. Going forward
Long-term customer relationships
Disciplined execution
Competitive and sustainable returns
18