Swedish financial group SEB’s (OMX: SEB A, STO: SEB C) (Skandinaviska Enskilda Banken AB) net profit including discontinued operations turned out to be 3.6 billion Swedish kronor on Q2. The bank says that customers have been more active and have done more business with SEB.
Lending to corporate customers and households was up 4%. Compared to Q1, Q2 operating income was down one percent where as operating costs were up the same amount. The stock is trading down over 4% a little more than half an hour after the release of the report.
Banks Core Tier 1 capital ratio was 13.5 per cent (compared to Basel III 6 per cent requirement.) and liquidity buffers have been increased so that liquidity reserve at the end of the quarter amounted to 283 billion SEK and total liquid resources 467 billion. These are discussed in detail in the investor Fact Book that the bank released simultaneously with the quarterly report.
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