The document provides an executive summary of SEB's performance in Q1 2008. Key points include:
- Operating profit of SEK 2.4bn, down 42% from Q1 2007 due to valuation losses and higher credit losses.
- Net interest income grew 8% due to higher lending volumes and margins despite higher funding costs. Fee income was down in retail and capital markets.
- Cost control efforts kept costs flat excluding acquisitions while credit losses increased in Estonia and Latvia.
- The outlook remains uncertain due to ongoing financial turbulence and potential economic slowdowns. SEB is focused on operational excellence and long-term investments.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Start Innovating Already: 13 Poisons to Open InnovationLisa Thorell
An somewhat irreverant intro to Open Innovation for advanced beginners. The presentation discusses 13 poisons (and their antidotes) to Open Innovation.
Companies covered include AirBNB, Best Buy, LudoBites,Netflix, NPR, Starbucks, Saatchi & Saatchi, RelayRides and Threadless.
Using Twitter for Business (Yet Another Workshop!) Basics of Twitter use and etiquette, case studies, business applications & best practices. Great for beginning Twitterers and companies.
Dividend idea Philip Morris (PM) By http://long-term-investments.blogspot.comDividend Yield
Weekly Dividend Stock Ideas Researched by The Dividend Yield Weekly. Our weekly dividend idea is the global cigarettes and tobacco stock Philip Morris International (NYSE:PM); The Leading Tobacco Stock With 3.98% Yield And 7.7% Upside Potential.
Philip Morris International (PMI) is a leading international tobacco company, encompassing eight of the world’s top 15 international brands which includes Marlboro, the number one cigarette brand worldwide. PMI has become the world's leading international tobacco company and the third most profitable international consumer goods company. While US sales revenues have been in decline as Altria struggles to cope with higher state tobacco tariffs and the tobacco industry's negative image in the US, international sales continue to grow for PMI. More on http://long-term-investments.blogspot.de/2012/11/divided-stock-idea-of-week-philip.html
EU to save banks but abandon state if Greece rejects austeritySEBgroup
The EU will save its banks but abandon the state if Greece rejects austerity in the upcoming vote on 17 June, SEB’s chief strategist Johan Javeus projects in a presentation where he outlines what might lie ahead for the recession-hit country. Recent opinion polls suggest the country will get a pro-austerity government, but the final outcome is far from certain and since Greek law does not allow more polls until the election, Europe will be flying blind for a couple of weeks.
Economic growth has led to lower employment and combined with earnings from abroad and remittances this has added a significant amount of funds to households’ disposable income in all three Baltic countries, SEB’s latest Baltic Household Outlook shows.
SEB sees 25 per cent chance of Riksbank cutSEBgroup
SEB’s experts see a 25 per cent chance the Riksbank will cut its repo rate by 25 basis points to 1.25 per cent at Wednesday’s rate decision. An investor survey done by SEB shows only 8 per cent of respondents foresee a rate cut and in an internal survey among SEB’s own fixed income traders and experts, 18 per cent says they believe the rate will be cut. The alternative to a cut is an unchanged repo rate.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
2. A challenging start of the year!
Itraxx 5-year senior finacials index spread development
GDP 2008
Per cent USA Euro-zone Sweden
3,50
3,00
2,50
2,00
1,50
1,00
jan mar maj jul sep nov jan
2007 2008
Source: Datastream
Source: Consensus Economics
MSCI World index
MSCI World Index (EUR)
130
120
110
100
90
80
2006-12-31 2007-03-31 2007-06-30 2007-09-30 2007-12-31 2008-03-31
2
3. Highlights Q1 2008
Operating profit SEK 2.4bn
More cautious customer sentiment Operating profit
SEKbn
Growing net interest income 4.6 4.6
4.2
despite higher funding costs 3.7
Fee income down 3.8
– Retail and Private Banking 2.4
– Capital markets
MtM valuation losses SEK 0.9bn
Cost control
Increased credit losses in Estonia Q1-07 Q2-07 Q3-07 Q4-07 Q1-08
3
4. Business mix and income development
SEKbn
4.2
4.3 3.8
3.8
Net fee and Net interest
commission income
Q1-07 Q1-08
Q1-07 Q1-08 42% 40%
1.3
Net life Net
0.7
0.7 insurance financial
income 7% income 8%
-0.2
Q1-07 Q1-08 Q1-07 Q1-08
4
5. Continued stable volume growth
SEKbn
Corporate lending Lithuania Residential mortgages
SEB Group Private and Corporate lending Sweden
564
541 538
532
501
204
199
192
186
179
60
59
54
50
46
Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08
Q1 07 Q2 07 Q3 07 Q4 07 Q1 08
Net inflows Net fee and commissions
Swedish mutual funds Q1, SEKm Custody and mutual funds Payments, cards, etc.
1,542
1,804
1,746
1,742
1,692
-3,091
-4,445 -5,079
-6,312
Q1-07 Q1-08 Q1-07 Q1-08
Robur SHB Nordea SEB Others
5
6. Net interest income
Group, SEK m Lending to the public
SEKbn Q1 +8% yoy
1,200
1,000
4,223
+12% 800
3,767
Total NII 600
3,809 400
Customer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
3,369 +13% 2005 2006 2007 2008
driven*
Deposits from the public
SEKbn Q1 +14% yoy
800
700
600
500
400
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2005 2006 2007 2008
Q1 2007 Q1 2008
* volumes and margins on lending and deposits
6
7. Income deceleration in some areas
Estonia and Latvia Trading and Capital Markets, Operating profit
SEKbn
79 78 77
74
68
+ corp fin intäkter I
marknaden?
FX Equities Capital Structured CPM
Markets sales etc.
Q1 - 07 Q4 - 07 Q1 - 08
Q1 07 Q2 07 Q3 07 Q4 07 Q1 08
Retail Sweden
OMX Stockholm Average turnover by value
SEKbn No of securities transactions
Monthly turnover Average daily turnover
600 30
500 25
Q1 2008 – Q1 2007 Q1 2008 – Q4 2007
400 20
300 15
-30% -34%
200 10
100 5
0 0
Jan-07 Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar-08
7
8. Bond investment portfolio
Status and actions Portfolio valuations, SEKm
Q4 07 Q1 08
Limited rating actions (10 of 740)
-990 -872
Income
Mark- to-market prices applied
-407 -1,630
Equity
Reduction of income volatility Total -1,397 -2,502
Q4 07 Q1 08
SEK bn
Held for trading
37%
(MTM over income)
46% 54% 63%
Available for sale
(MTM over equity)
8
9. Cost development
Flat costs on a comparable basis
4% total cost growth due to acquisitions, pensions and investments in IT
Cost management program 2007 - 2009
Achieved Target
SEK -625m SEK 1.5 – 2.0bn
*
2007 2008 2009 2010
*
9
10. Net credit losses
Estonia and Latvia entering next stage
Retail sales Credit growth in Estonia
Year-on-year percentage change Loan growth, % mom
Estonia Latvia Mortgages, % growth mom
6,0%
40
5,0%
30
4,0%
20 3,0%
2,0%
10
1,0%
0
0,0%
Jan- Mar- May- Jul- Sep- Nov- Jan- Mar-
-10
01 02 03 04 05 06 07 08 07 07 07 07 07 07 08 08
Collective provisions drive net credit losses, %
Baltics SEB Group
0,80
0,60
0,40
0,20
0,00
2006 2007 Q1 2008 *
* annualised
10
12. Key figures
Change Excluding
Q1 Q1 Q4 portfolios
SEKm 2008 2007 2007 Q1 – Q1
Operating income 8,802 -14% -12% -5%
Operating expenses -6,027 4% 2%
-20%
Operating profit 2,410 -42% -47%
Net profit 1,848 -43% -51%
Return on Equity, % 9.6 19.0 20.2 13.2
Cost / income ratio 0.69 0.57 0.59 0.62
Credit loss level, % 0.13 0.10 0.13
RWA, Basel I, SEKbn 909 796 892
Core capital ratio, Basel II 8.85 8.33 8.63
12
13. The jury is still out…
● Continued financial turbulence?
● Slowdown in real economy?
● Falling capital expenditure?
● Hard landing in Baltic countries?
● Transparency renews trust?
● Resilience among consumers?
● Alignment of risk and pricing?
● Acquisition opportunities?
13
14. Strong balance sheet
Core capital Net liquidity position across maturities
SEKbn 31 March, SEKbn
300
72,4
62,7 10.9
7.7
Hybrid
200
capital
+9.7
quot;Book
55.0 61.6
equity quot;
100
0
1 week
2 weeks
4 weeks
2 months
3 months
4 months
5 months
6 months
9 months
12 months
Mar 2007 Mar 2008
Core
8.3% 8.9%
capital
ratio
14
15. Operational excellence (SEB Way)
SEB Way – since launch 2006
38 % of all staff
180 transformations
100 navigators
550
Private Banking private clients Stockholm
Net New Money (SEKm)
1 280
+130%
550
Q1 2007 Q1 2008
15
16. Investments – the long-term view
Add-on acquisitions
One IT
Roadmap
IT
Product Customer
innovation acquisition
16
17. Long-term objectives
Customer Sustainable profit
satisfaction: No 1 growth
in chosen
markets
AA-rating
Highest Return
on Equity
The leading bank in Northern Europe
17