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Additional Information January-March 2010
STOCKHOLM 28 APRIL 2010
Appendix 1 The Life division
qÜÉ=Çáîáëáçå=áë=êÉëéçåëáÄäÉ=Ñçê=pb_Ûë=äáÑÉ=áåëìê~åÅÉ=
çéÉê~íáçåë=~åÇ=áë=çåÉ=çÑ=íÜÉ=äÉ~ÇáåÖ=kçêÇáÅ=äáÑÉ=áåëìê~åÅÉ=
ÖêçìéëK=qÜÉ=Çáîáëáçå=áë=çêÖ~åáëÉÇ=áå=íÜêÉÉ=ÄìëáåÉëë=~êÉ~ëW=
√= pb_=qêóÖÖ=iáî=EpïÉÇÉåF=
√= pb_=mÉåëáçå=EaÉåã~êâF=
√= pb_=iáÑÉ=C=mÉåëáçå=fåíÉêå~íáçå~ä=
qÜÉ=çéÉê~íáçåë=ÅçãéêáëÉ=áåëìê~åÅÉ=éêçÇìÅíë=áå=íÜÉ=~êÉ~=çÑ=
áåîÉëíãÉåíë=~åÇ=ëçÅá~ä=ëÉÅìêáíó=Ñçê=éêáî~íÉ=áåÇáîáÇì~äë=~åÇ=
Åçãé~åáÉëK=qÜÉ=Çáîáëáçå=Ü~ë=NKU=ãáääáçå=ÅìëíçãÉêë=~åÇ=áë=
~ÅíáîÉ=áå=pïÉÇÉåI=aÉåã~êâI=cáåä~åÇI=fêÉä~åÇI=iìñÉãÄçìêÖI=
bëíçåá~I=i~íîá~I=iáíÜì~åá~=~åÇ=râê~áåÉK=qÜÉ=ã~áå=é~êí=çÑ=
íÜÉ=íê~Çáíáçå~ä=äáÑÉ=áåëìê~åÅÉ=çéÉê~íáçåë=áå=pïÉÇÉå=áë=
ÅçåÇìÅíÉÇ=íÜêçìÖÜ=íÜÉ=ãìíì~ääó=çéÉê~íÉÇ=áåëìê~åÅÉ=
Åçãé~åó=d~ãä~=iáîÑ∏êë®âêáåÖë~âíáÉÄçä~ÖÉí=pb_=qêóÖÖ=iáî=
~åÇ=íÜÉêÉÑçêÉ=åçí=ÅçåëçäáÇ~íÉÇ=ïáíÜ=íÜÉ=ÇáîáëáçåÛë=êÉëìäíK=
d~ãä~=iáî=áë=ÅäçëÉÇ=Ñçê=åÉï=ÄìëáåÉëëK=qÜÉ=íê~Çáíáçå~ä=
áåëìê~åÅÉ=ÄìëáåÉëë=ÅçåÇìÅíÉÇ=áå=kó~=
iáîÑ∏êë®âêáåÖë~âíáÉÄçä~ÖÉí=pb_=qêóÖÖ=iáî=Ekó~=iáîF=ï~ë=
ãÉêÖÉÇ=ïáíÜ=íÜÉ=ìåáíJäáåâÉÇ=Åçãé~åó=
cçåÇÑ∏êë®âêáåÖë~âíáÉÄçä~ÖÉí=pb_=qêóÖÖ=iáî=áå=lÅíçÄÉê=
OMMTK=^ÑíÉê=íÜÉ=ãÉêÖÉêI=íÜÉ=êÉëìäí=çÑ=íÜáë=ÄìëáåÉëë=Ó=ïáíÜ=
êÉëéÉÅí=íç=áåîÉëíãÉåí=áåÅçãÉ=~åÇ=áåëìê~åÅÉ=êáëâ=Ó=áë=ëíáää=
~ääçÅ~íÉÇ=íç=íÜÉ=éçäáÅóÜçäÇÉêëK=eçïÉîÉêI=pb_=qêóÖÖ=iáî=
Öì~ê~åíÉÉë=íÜÉ=Åçåíê~Åíì~ä=ÄÉåÉÑáíë=íç=íÜÉ=éçäáÅóÜçäÇÉêë=áå=
íÜáë=ÄìëáåÉëëK=
Comments on the first quarter 2010
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léÉê~íáåÖ=áåÅçãÉ=~ãçìåíÉÇ=íç=pbh=NINUQã=ïÜáÅÜ=ï~ë=
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ÅçããáíãÉåíë=áå=pïÉÇáëÜ=íê~Çáíáçå~ä=áåëìê~åÅÉI=íÜÉ=
áåÅêÉ~ëÉ=áå=áåÅçãÉ=ï~ë=pbh=OPPã=çê=OR=éÉê=ÅÉåíK=qÜÉ=ìåáíJ
äáåâÉÇ=áåÅçãÉ=êçëÉ=Äó=pbh=NQUã=çê=PQ=éÉê=ÅÉåíK=qÜÉ=ÑìåÇ=
î~äìÉë=~ë=ïÉää=~ë=íÜÉ=êÉä~íáîÉ=ëÜ~êÉ=çÑ=Éèìáíó=êÉä~íÉÇ=ÑìåÇëI=
ÅçåíáåìÉÇ=íç=áåÅêÉ~ëÉK=fåÅçãÉ=Ñêçã=çíÜÉê=áåëìê~åÅÉI=ã~áåäó=
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~åÇ=ÜÉ~äíÜ=áåëìê~åÅÉI=ÇÉÅêÉ~ëÉÇ=Äó=pbh=ONãK=oÉÅçîÉêáÉë=çÑ=
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~ãçìåíÉÇ=íç=pbh=OQã=Åçãé~êÉÇ=ïáíÜ=pbh=NMS=ä~ëí=óÉ~êK=
qÜÉ=êÉã~áåáåÖ=Öì~ê~åíÉÉ=éêçîáëáçåë=~ãçìåí=íç=pbh=UNã=áå=
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Ñêçã=çíÜÉê=áåëìê~åÅÉ=áåÅêÉ~ëÉÇ=Äó=pbh=SNã=~åÇ=ï~ë=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
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qçí~ä=ÉñéÉåëÉë=áåÅêÉ~ëÉÇ=Äó=pbh=ONã=çê=Q=éÉê=ÅÉåíK=fÑ=
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ÅÉåíê~ä=ÑìåÅíáçåëI=áåÅêÉ~ëÉÇ=Äó=pbh=NORã=íç=pbh=PUUãK=
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qçí~ä=~ëëÉíë=ìåÇÉê=ã~å~ÖÉãÉåí=~ãçìåíÉÇ=íç=
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SEB Trygg Liv, Sweden
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Ä~åâ=~ëëìê~åÅÉ=ÅçåÅÉéí=~åÇ=é~êíäó=íÜêçìÖÜ=ÇáëíêáÄìíáçå=îá~=
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ë~îáåÖë=êÉéêÉëÉåí=~=ÖêçïáåÖ=ëÜ~êÉ=çÑ=íÜÉ=pïÉÇáëÜ=
ÜçìëÉÜçäÇëÛ=Ñáå~åÅá~ä=~ëëÉíëK=^ÅÅçêÇáåÖ=íç=íÜÉ=pb_=
“pé~êÄ~êçãÉíÉêåÒI=íÜáë=ëÜ~êÉ=ï~ë=QU=éÉê=ÅÉåí=çå=PN=
aÉÅÉãÄÉê=OMMVK=
=
Market position
p~äÉë=ÑçÅìë=áë=çå=ìåáíJäáåâÉÇI=ïÜáÅÜ=êÉéêÉëÉåíë=ëçãÉ=VR=éÉê=
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Ñìää=óÉ~ê=OMMV=ï~ë=OSKT=éÉê=ÅÉåí=EOQKPFK=
=
Significant occupational pension business
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ÇÉÅêÉ~ëÉÇ=Ñêçã=TO=íç=RT=éÉê=ÅÉåíK=qÜÉ=ïÉ~â=ÉÅçåçãó=
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ÅÉåíK=pb_=qêóÖÖ=iáî=áë=íÜÉ=ã~êâÉí=äÉ~ÇÉê=ïáíÜáå=åÉï=
ÄìëáåÉëë=ìåáíJäáåâÉÇ=çÅÅìé~íáçå~ä=éÉåëáçåK=qÜÉ=ã~êâÉí=
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ÑçìåÇ~íáçåëK=
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Strong also in the private market
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SEB Pension, Denmark
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SEB Pension’s products
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ã~êâÉíK=pçãÉ=ÅçääÉÅíáîÉ=~ÖêÉÉãÉåíë=Çç=åçí=~ääçï=ëçäÉ=ìåáíJ
äáåâÉÇ=áåëìê~åÅÉ=ëçäìíáçåë=áå=çÅÅìé~íáçå~ä=éÉåëáçå=éä~åëK=
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áåëìê~åÅÉ=ëìÅÜ=~ë=ìåáíJäáåâÉÇ=áë=Éñé~åÇáåÖK=qÜÉ=ÖêçïíÜ=áë=
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Growing occupational pension market
páåÅÉ=óÉ~ê=OMMMI=áí=áë=ã~áåäó=íÜÉ=a~åáëÜ=çÅÅìé~íáçå~ä=
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PM=éÉê=ÅÉåíI=êÉëéÉÅíáîÉäó=EéêÉäáãáå~êó=ÑáÖìêÉë=Ñçê=OMMVFK=
=
Distribution
jçëí=áåëìê~åÅÉ=Åçãé~åáÉëI=áåÅäìÇáåÖ=pb_=mÉåëáçåI=Ü~îÉ=
ÇÉîÉäçéÉÇ=ëéÉÅá~äáëÉÇ=éêáî~íÉ=éÉåëáçå=ë~äÉë=ìåáíë=íÜ~í=
éêáã~êáäó=ÅçåÅÉåíê~íÉ=çå=ÜáÖÜJë~ä~êó=Öêçìéë=~åÇ=ÅìëíçãÉêë=
ïáíÜ=èì~äáÑáÉÇ=~Çîáëçêó=êÉèìáêÉãÉåíëK=
fåëìê~åÅÉ=ãÉÇá~íçêë=~åÇ=íÜÉ=áåëìê~åÅÉ=Åçãé~åáÉëÛ=
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SEB Life & Pension International
pb_=iáÑÉ=C=mÉåëáçå=fåíÉêå~íáçå~ä=áåÅäìÇÉë=ëìÄëáÇá~êáÉë=áå=
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~êÉ=ÑçÅìëÉÇ=éêáã~êáäó=çå=ë~äÉë=çÑ=mçêíÑçäáç=_çåÇ=EÇÉéçí=
ÉåÇçïãÉåí=áåëìê~åÅÉFK=p~äÉë=~êÉ=éêáã~êáäó=ÅçåÅÉåíê~íÉÇ=çå=
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Risk
qÜÉ=ëìéÉêîáëçêó=~ìíÜçêáíáÉë=áå=pïÉÇÉå=~åÇ=aÉåã~êâ=~êÉ=
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Income statement
Q1
2010
Q4
2009
Q3
2009
Q2
2009
Q1
2009
Full year
2009
585
427
172
1 184
584
395
165
1 144
536
373
196
1 105
491
448
204
1 143
437
448
148
1 033
2 048
1 664
713
4 425
-652
-1
67
-586
-651
0
77
-574
-550
-3
4
-549
-620
-23
21
-622
-627
-1
63
-565
-2 448
-27
165
-2 310
Operating profit
598
570
556
521
468
2 115
Change in surplus value, net
229
170
224
395
111
900
827
740
780
916
579
3 015
292
12
517
-459
652
35
1 132
-253
-282
-32
2 019
-709
Total result
1 131
798
1 467
1 795
265
4 325
Business equity
4)
Return on business equity
based on operating profit, %
based on business result, %
Premium income, gross
Expense ratio, % 5)
6 000
6 800
6 800
6 800
6 800
6 800
35,1
48,5
8 527
7,6
29,5
38,3
8 751
7,4
28,8
40,4
6 588
8,3
27,0
47,4
7 347
8,4
24,2
30,0
7 919
7,9
27,4
39,0
30 605
8,0
391
151
59
-3
598
412
127
52
-21
570
387
120
68
-19
556
403
147
3
-32
521
277
180
25
-14
468
1 479
574
148
-86
2 115
34
-44
103
-59
44
59
106
8
-8
286
-107
107
SEKm
Income unit-linked
1)
Income other insurance
2)
Other income
Total operating income
Operating expenses
Other expenses
Change in deferred acquisition costs
Total expenses
Business result
Financial effects due to market fluctuations
3)
Change in assumptions
3)
Operating profit by business area
SEB Trygg Liv, Sweden
SEB Pension, Denmark
SEB Life & Pension, International
Other including central functions etc
1)
Effect of guarantee commitments in
traditional insurance in Sweden
24
43
-12
Reclassification compared to previous reporting
2)
Reclassification compared to previous reporting
12
3)
Effect on surplus values
4)
Annual basis after 12 per cent tax which reflects the divisions effective tax rate
5)
Operating expenses as percentage of premium income
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
P
Sales volume insurance (weighted)
SEKm
Total
Traditional life and sickness/health insurance
Unit-linked insurance
Q1
2010
Q4
2009
Q3
2009
Q2
2009
Q1
2009
Full year
2009
13 507
13 444
11 042
13 268
12 912
50 666
1 871
2 326
2 507
2 771
2 663
10 267
11 636
11 118
8 535
10 497
10 249
40 399
60%
55%
65%
61%
64%
61%
8 067
8 697
6 452
7 987
8 086
31 222
Corporate as per cent of total
SEB Trygg Liv Sweden
Traditional life and sickness/health insurance
Unit-linked insurance
341
407
252
280
401
1 340
7 726
8 290
6 200
7 707
7 685
29 882
58%
53%
60%
53%
63%
57%
14 105
Corporate as per cent of total
SEB Pension Denmark
3 882
3 289
3 586
3 771
3 459
Traditional life and sickness insurance
1 399
1 677
2 087
2 245
2 080
8 089
Unit-linked insurance
2 483
1 612
1 499
1 526
1 379
6 016
79%
78%
88%
88%
83%
84%
1 558
1 458
1 004
1 510
1 367
5 339
131
242
168
246
182
838
1 427
1 216
836
1 264
1 185
4 501
22%
15%
14%
30%
21%
21%
Corporate as per cent of total
SEB Life & Pension International
Traditional life and sickness insurance
Unit-linked insurance
Corporate as per cent of total
=
Premium income and Assets under management
SEKm
Q1
2010
Q4
2009
Q3
2009
Q2
2009
Q1
2009
Full year
2009
Premium income: Total
8 527
8 751
6 588
7 347
7 919
30 605
Traditional life and sickness/health insurance
Unit-linked insurance
1 993
6 534
2 913
5 838
1 905
4 683
1 975
5 372
2 309
5 610
9 102
21 503
SEB Trygg Liv Sweden
Traditional life and sickness/health insurance
Unit-linked insurance
4 809
673
4 136
4 670
943
3 727
3 938
643
3 295
4 179
655
3 524
4 508
777
3 731
17 295
3 018
14 277
SEB Pension Denmark
Traditional life and sickness/health insurance
Unit-linked insurance
2 152
1 235
917
2 807
1 859
948
1 778
1 167
611
1 804
1 220
584
2 071
1 436
635
8 460
5 682
2 778
SEB Life & Pension International
Traditional life and sickness/health insurance
Unit-linked insurance
1 566
85
1 481
1 274
111
1 163
872
95
777
1 364
100
1 264
1 340
96
1 244
4 850
402
4 448
Assets under management:* Total
410 700
401 700
392 100
371 800
347 000
401 700
Traditional life and sickness/health insurance
Unit-linked insurance
246 200
164 500
245 300
156 400
247 000
145 100
237 900
133 900
230 600
116 400
245 300
156 400
SEB Trygg Liv Sweden
Traditional life and sickness/health insurance
Unit-linked insurance
290 100
164 300
125 800
282 400
162 100
120 300
273 700
161 500
112 200
255 200
151 300
103 900
235 800
145 000
90 800
282 400
162 100
120 300
SEB Pension Denmark
Traditional life and sickness/health insurance
Unit-linked insurance
94 500
80 800
13 700
95 000
82 100
12 900
96 100
84 400
11 700
96 300
85 500
10 800
94 000
84 500
9 500
95 000
82 100
12 900
SEB Life & Pension International
Traditional life and sickness/health insurance
Unit-linked insurance
26 100
1 100
25 000
24 300
1 100
23 200
22 300
1 100
21 200
20 300
1 100
19 200
17 200
1 100
16 100
24 300
1 100
23 200
* rounded to whole 100 millions. From Q4 2009 investments for own account are excluded. Previously this was included in
traditional insurance. By year-end 2009 this amount was 5 200 (Sweden 1 800, Denmark 2 800 and International 600).
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
Q
Surplus value accounting
Excluding traditional insurance in Denmark
Q1
2010
Q1
2009
Full year
2009
Q1
2010
Q1
2009
Full year
2009
13 656 13 423 12 538 11 266 11 549
11 549
1 272
1 111
1 111
SEKm
Surplus values, opening balance
1)
Adjustment opening balance
Q4
2009
Q3
2009
Q2
2009
Traditional insurance
Denmark*
203
1
11
4
-81
-65
Present value of new sales 2)
412
433
350
371
402
1 556
17
34
112
Return/realised value on policies from previous
periods
3)
Actual outcome compared to assumptions
-103
-13
-86
-100
-78
-44
-62
107
-61
-167
-287
-204
-34
-16
-40
177
-150
205
Change in surplus values ongoing business,
gross
296
247
228
416
174
1 065
-33
171
167
Capitalisation of acquisition costs for the period
-231
-233
-153
-173
-217
-776
Amortisation of capitalised acquisition costs
164
156
149
152
154
611
229
170
224
395
111
900
-33
171
167
fluctuations 5)
6)
Change in assumptions
292
12
517
-459
652
35
1 132
-253
-282
-32
2 019
-709
4
12
-29
72
64
5
Total change in surplus values
533
228
911
1 274
-203
2 210
-17
214
236
-29
4
-37
-6
1
-38
-65
3
-75
14 363 13 656 13 423 12 538 11 266
13 656
1 190
1 328
1 272
Change in surplus values ongoing business,
net
4)
Financial effects due to short term market
Exchange rate differences etc
Surplus values, closing balance
7)
Most important assumptions (Swedish customer base - which represent 96 per cent of the surplus value), per cent.
Discount rate
7,5
7,5
Surrender of endowment insurance contracts:
contracts signed within 1 year / 1-4 years
1/8/
1/8/
/ 5 years / thereafter
15 / 9
15 / 9
Lapse rate of regular premiums, unit-linked
11
11
Growth in fund units, gross before fees and taxes
5,5
5,5
Inflation CPI / Inflation expenses
2/3
2/3
Expected return on solvency margin
4
4
Right to transfer policy, unit-linked
2
2
Mortality
The Group's experience
The Group's experience
Sensitivity to changes in assumptions (total division).
Change in discount rate
+1 per cent
-1 564
"
-1 per cent
1 791
Change in value growth
+1 per cent
1 564
of investment assets
-1 per cent
-1 389
-1 493
1 716
1 492
-1 329
* Not included in the total figures for the division.
Effects from adjustments of the calculation method.
1)
2)
Sales defined as new contracts and extra premiums in existing contracts.
3)
The reported actual outcome of contracts signed can be placed in relation to the operative assumptions that were made. Thus, the value
of the deviations can be estimated. The most important components consist of extensions of contracts as well as cancellations. However,
the actual income and administrative expenses are included in full in the operating result.
4)
Deferred acquisition costs are capitalised in the accounts and amortised according to plan. The reported change in surplus values is
therefore adjusted by the net result of the capitalisation and amortisation during the period.
5)
Assumed unit growth is 5.5 per cent gross (before fees and taxes). Actual growth results in positive or negative financial effects.
6)
The negative effect during Q4 2009 was mainly due to assumed higher frequency of transfer of policies. Assumed lower administration
costs per policy had a positive effect. The negative effect during Q2 2009 was due to more conservative assumptions for the Baltic
business.
7)
Estimated surplus value according to the above are not included in the SEB Group's consolidated accounts. The closing balance is shown
after the deduction of capitalised acquisition costs (SEK 3,556m at March 31, 2010).
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
R
Surplus values
pìêéäìë=î~äìÉë=~êÉ=íÜÉ=éêÉëÉåí=î~äìÉë=çÑ=ÑìíìêÉ=éêçÑáíë=Ñêçã=
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`çëíëI=çå=íÜÉ=çíÜÉê=Ü~åÇI=ã~áåäó=~êáëÉ=~í=íÜÉ=éçáåí=çÑ=ë~äÉI=
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çå=ÇáÑÑÉêÉåí=~ëëìãéíáçåëI=ïÜáÅÜ=~êÉ=~ÇàìëíÉÇ=~ë=êÉèìáêÉÇ=íç=
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Ñêçã=U=íç=TKR=éÉê=ÅÉåíK=
New business profit
låÉ=ï~ó=çÑ=ãÉ~ëìêáåÖ=éêçÑáí~Äáäáíó=çÑ=ë~äÉë=áë=íç=Å~äÅìä~íÉ=íÜÉ=åÉï=ÄìëáåÉëë=éêçÑáíK=mêçÑáí=Ñêçã=åÉï=ÄìëáåÉëëI=íÜÉ=åÉí=çÑ=éêÉëÉåí=
î~äìÉ=çÑ=åÉï=ë~äÉë=~åÇ=ë~äÉë=ÉñéÉåëÉëI=áë=ãÉ~ëìêÉÇ=áå=êÉä~íáçå=íç=íÜÉ=ïÉáÖÜíÉÇ=ë~äÉë=îçäìãÉK=
=
SEKm
Apr 2009-Mar 2010
Jan-Dec 2009
Jan-Dec 2008
Jan-Dec 2007
Sales volume weighted (regular + single/10)
4 178
4 026
3 858
3 689
Present value of new sales
Sales expenses
Profit from new business
1 497
-875
622
1 492
-916
576
1 598
-879
719
1 775
-901
874
Sales margin new business
14,9%
14,3%
18,6%
23,7%
The traditional insurance in Denmark is not included.
=
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éêçÇìÅí=ãáñ=íÜáë=Ü~ë=~ÇîÉêëÉäó=~ÑÑÉÅíÉÇ=íÜÉ=åÉï=ÄìëáåÉëë=éêçÑáíK=
=
Embedded value
SEKm
31 Mar 2010
31 Dec 2009
31 Dec 2008
31 Dec 2007
8 752
14 363
8 594
13 656
8 827
11 549
8 836
14 496
0
-1 850
-1 275
-1 150
Equity 1)
Surplus values
1)
Dividend paid to the parent company during the period
The traditional insurance in Denmark is not included in the surplus values.
=
Gamla Livförsäkringsaktiebolaget
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S
Appendix 2 Credit portfolio, loan portfolio and impaired loans by industry
and geography
Credit portfolio by industry and geography*
SEB Group, 31 March 2010
SEK m
Sweden
Banks
146 093
Denmark
Norway
Finland
Estonia
14 000 11 456
1 665
696
Latvia Lithuania
555
553
Other
Total
62 434 16 655
254 107
Germany
Finance and insurance
46 206
711
2 830
692
215
392
317
19 639
5 319
76 321
Wholesale and retail
30 714
971
1 814
258
2 358
3 763
8 483
14 985
3 548
66 894
42 706
Transportation
26 027
256
1 210
166
1 133
1 907
3 698
7 900
409
Shipping
30 966
23
1 771
129
710
227
288
35
4 468
38 617
Business and household services
79 721
731
2 394
280
2 519
1 638
2 806
18 095
2 120
110 304
Construction
Manufacturing
Agriculture, forestry and fishing
Mining and quarrying
9 414
86
304
554
1 236
1 692
1 725
4 141
223
19 375
123 232
867
3 799
4 876
3 584
2 345
7 843
29 151
7 133
182 830
3 776
214
12 795
11
33
949
1 836
610
209
17
7 655
2 282
323
88
108
91
382
33
16 102
49 455
Electricity, gas and water supply
28 762
185
972
4 670
2 595
1 048
2 149
8 966
108
Other
20 515
3 257
3 407
139
275
335
532
3 926
3 810
36 196
7 301 20 794 12 120 15 662 15 291
28 542
107 429 27 188
646 455
Corporates
412 128
Commercial
65 260
183
5 508
Multi-family
66 205
1
8
131 465
184
5 516
560
19 783
90
246
818
Property Management
Public Administration
Household mortgage
Other
Households
Credit portfolio
273 317
40 293
313 610
1 023 079
560
3 423
5 862
29 439
6 874
4 063
12 714
51 317
2 437
25
27 854
6 500
12 739
79 171
682
147 161
682
243 691
96 530
2 097
190
2 302
64 155
104
89 785
15 878
9 804
21 400
67 931
2 151
393 904
3 379
3 316
2 216
23 782
3 558
113 294
1 449 19 257 13 120
23 616
91 713
5 709
507 198
27 437 70 874 16 612 44 586 35 656
67 752
404 902 50 338
1 741 236
5 862 32 862
1 449
6 874
* The geographical distribution is based on where the loan is booked. Amounts before provisions for credit losses.
SEB Group, 31 December 2009
SEK m
Sweden
Denmark
Norway
Finland
Estonia
Banks
178 418
24 663
8 873
1 596
169
Latvia Lithuania
685
411
Other
Total
78 964 15 931
309 710
Germany
Finance and insurance
44 884
554
2 381
616
258
633
334
19 396
4 581
73 637
Wholesale and retail
31 563
1 668
1 741
215
3 135
4 975
9 482
13 962
4 532
71 273
46 066
Transportation
28 478
406
1 046
167
1 319
2 118
4 384
7 716
432
Shipping
29 178
302
1 515
135
923
236
292
37
4 515
37 133
Business and household services
82 473
650
3 407
196
2 498
1 820
2 973
17 560
1 044
112 621
Construction
Manufacturing
Agriculture, forestry and fishing
Mining and quarrying
9 473
79
411
427
1 392
1 814
1 970
4 381
238
20 185
129 165
1 764
3 730
5 151
4 126
2 624
8 583
26 572
6 593
188 308
3 496
206
12 696
1 102
2 042
655
143
18
7 710
2 323
346
93
123
112
387
12
16 092
49 466
48
Electricity, gas and water supply
28 878
207
1 112
4 950
2 947
1 064
2 467
7 722
119
Other
16 252
3 135
4 096
126
367
367
584
3 787
4 595
33 309
8 971 21 810 12 329 18 160 17 816
31 836
101 663 26 679
655 800
Corporates
416 536
Commercial
63 189
142
5 480
Multi-family
65 020
1
8
128 209
143
5 488
545
23 254
105
272
660
5 951
29 771
Property Management
Public Administration
Household mortgage
Other
Households
Credit portfolio
306 258
1 052 675
7 213
149 477
4 460
13 634
54 132
682
2 570
30
29 636
9
97 274
7 213
7 030
13 664
83 768
691
246 751
2 238
287
2 445
65 378
64
94 703
16 821
10 448
22 784
72 472
2 189
394 302
3 652
3 586
2 517
24 973
2 974
115 163
1 541 20 473 14 034
25 301
97 445
5 163
509 465
39 833 69 742 16 671 48 253 39 852
73 657
427 218 48 528
1 816 429
266 060
40 198
545
3 528
5 951 33 299
1 541
* The geographical distribution is based on where the loan is booked. Amounts before provisions for credit losses.
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
T=
Loan portfolio by industry and geography*
SEB Group, 31 March 2010
SEK m
Sweden
Denmark
Norway
Finland
Estonia
Banks
86 969
9 641
2 954
534
158
Finance and insurance
20 906
442
971
209
48
Wholesale and retail
16 311
255
604
159
1 946
Transportation
21 013
56
635
7
1 005
Shipping
21 911
24
1 196
129
596
Business and household services
47 312
451
722
107
2 235
4 368
74
77
180
613
50 903
414
928
3 632
2 821
Agriculture, forestry and fishing
2 758
52
Mining and quarrying
7 804
Construction
Manufacturing
Electricity, gas and water supply
Other
12 432
8
35 521
1 741
3 330
1 580
342
29 709
222
286
29
3 629
28 022
1 504
2 043
13 069
1 681
69 124
1 284
1 095
1 858
51
9 600
1 938
6 221
9 212
2 474
78 543
6 173
534
166
8
88
7
1
8 441
66
4 637
1 866
844
1 077
4 320
32
25 282
82
260
330
513
3 544
3 360
29 031
9 498 12 374 13 131
21 983
51 649 17 840
360 149
55 467
183
3 311
59 290
1
114 757
184
3 311
551
9 552
90
185
818
2 948
11 652
681
128 456
70 148
681
215 026
1 772
62 691
104
77 137
9 801
21 077
63 267
2 151
369 031
2 684
1 758
8 388
3 436
57 840
822 18 584 12 485
22 835
71 655
5 587
426 871
15 531 30 013 12 223 39 634 32 600
59 314
301 282 34 190
1 235 463
253 450
551
3 423
23 430
710 676
40 703
1 198
95
Multi-family
Loan portfolio
5 064
5 230
1 722
Commercial
276 880
12 634
85
3 250
Households
41
6 755
899
8 488
Other
388
3 063
33
892
Household mortgage
156 280
323
2 668
Public Administration
Total
9 978
1
16 800
Property Management
Other
45 139
524
38
222 518
Corporates
Germany
383
Latvia Lithuania
2 948 15 075
822
6 759
4 002
12 318
45 184
2 292
23
24 964
6 759
6 294
12 341
1 759
166
15 862
2 722
86 570
Repos, credit institutions
42 300
Repos, general public
102 781
Debt instruments reclassified
114 156
Reserves
-18 625
Total lending
1 476 075
* The geographical distribution is based on where the loan is booked.
SEB Group, 31 December 2009
SEK m
Banks
Sweden
Denmark
Norway
Finland
Estonia
118 428
20 797
1 464
422
163
Latvia Lithuania
655
241
Other
Total
60 762 11 409
214 341
Germany
Finance and insurance
20 303
249
622
109
53
628
42
12 973
4 043
39 022
Wholesale and retail
17 211
779
483
136
2 556
3 787
7 377
5 508
1 168
39 005
Transportation
22 153
153
621
2
1 171
1 867
3 929
1 393
379
31 668
Shipping
21 545
302
948
135
807
229
287
32
3 338
27 623
Business and household services
47 725
372
1 747
15
2 283
1 651
2 245
13 269
687
69 994
4 309
73
159
40
718
1 382
1 220
1 999
56
9 956
52 461
946
1 096
3 819
3 070
2 204
6 931
9 250
2 273
82 050
Agriculture, forestry and fishing
2 613
36
6 390
Mining and quarrying
7 870
Construction
Manufacturing
Electricity, gas and water supply
Other
12 099
1 053
1 924
619
98
9
38
346
89
106
102
8
1
8 560
75
4 901
1 758
901
1 236
3 723
44
24 759
79
355
362
565
3 866
3 713
26 469
9 582 13 913 15 041
24 553
52 119 15 711
365 496
38
22
12 785
760
3 984
221 074
3 692
9 811
Commercial
55 130
142
3 142
Multi-family
57 756
1
Property Management
112 886
143
3 142
535
Public Administration
12 184
105
241
660
2 685
11 779
Corporates
Household mortgage
Other
4 388
13 131
47 530
681
2 421
25
26 755
9
86 967
7 033
6 809
13 156
74 285
690
218 679
1 873
258
1 936
63 632
64
80 953
16 803
10 443
22 383
67 264
2 189
369 988
2 938
2 901
2 014
8 741
2 957
58 660
836 19 741 13 344
24 397
76 005
5 146
428 648
27 422 29 965 12 035 42 723 36 107
64 283
326 803 33 020
1 308 117
247 378
3 528
23 809
Households
271 187
Loan portfolio
735 759
535
2 685 15 307
Repos, credit institutions
131 712
42 324
Repos, general public
61 594
Debt instruments reclassified
125 339
Reserves
-18 077
Total lending
1 519 297
=
* The geographical distribution is based on where the loan is booked.
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
836
7 033
=
U
Impaired loans by industry and geography*
(Individually assessed loans)
=
SEB Group, 31 March 2010
SEK m
Sweden
Denmark
Banks
343
1
Finance and insurance
Norway
74
Transportation
50
Estonia
Latvia Lithuania
3
5
Construction
Manufacturing
Agriculture, forestry and fishing
4
1
346
26
36
590
357
3
1 435
22
120
923
8
47
1 174
5
1 245
7
168
119
20
16
191
Total
283
7
72
113
635
133
1
64
373
224
114
31
843
12
415
150
966
390
201
2 325
17
76
39
10
168
26
Mining and quarrying
25
25
10
Electricity, gas and water supply
Other
228
21
57
Corporates
758
156
77
Commercial
145
Multi-family
93
Property Management
Other
128
Shipping
Business and household services
Germany
2
1
Wholesale and retail
Finland
5
3
1
92
387
818
729
1 172
3 385
1 123
684
8 089
996
1 673
4 233
2 058
495
238
13
32
996
2 168
4 233
9
270
88
9 105
368
956
2 426
10 061
Public Administration
Bostadskrediter
2
28
Övrig utlåning
Hushåll
Impaired loans
3
571
154
2
3
182
1 341
160
259
5
601
524
9
270
88
571
1 734
3 610
7 706
4 122
684
19 621
1 125
Latvia Lithuania
Germany
Other
Total
* The geographical distribution is based on where the loan is booked. Amounts before provisions for credit losses.
SEB Group, 31 December 2009
SEK m
Sweden
Denmark
Banks
339
2
Finance and insurance
Wholesale and retail
Transportation
Norway
Finland
Estonia
1
2
3
5
1
28
39
100
150
212
757
367
1 586
43
54
123
1 074
3
1 297
1 309
Shipping
Business and household services
Construction
Manufacturing
Agriculture, forestry and fishing
Mining and quarrying
8
165
124
31
16
8
92
97
699
132
87
390
247
121
176
369
322
808
415
30
29
95
42
1
197
1
1
26
4
13
43
10
66
1
96
420
891
796
1 308
3 640
1 173
851
8 838
1 119
1 743
4 746
2 530
9
10 260
9
11 127
Electricity, gas and water supply
Other
189
22
163
Corporates
737
162
166
Commercial
113
Multi-family
48
Property Management
342
5
369
161
892
431
32
450
1 119
2 112
4 746
2 521
2 980
867
Public Administration
Household mortgage
12
Other
Households
Impaired loans
41
649
702
70
649
1 016
8 456
4 803
11
92
9
132
70
12
11
133
9
132
1 249
175
299
1 924
3 552
5
314
860
21 323
* The geographical distribution is based on where the loan is booked. Amounts before provisions for credit losses.
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
=
V
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
=
NM
Portfolio assessed loans*
(Loans past due > 60 days)
=
SEB Group, 31 March 2010
Sweden
SEK m
Corporates
Denmark Norway Finland Estonia
28
Latvia Lithuania
12
88
5
228
276
Germany
282
Household mortgage
308
669
1 492
986
Other
565
339
416
90
126
400
190
Households
873
339
416
90
795 1 892
1 176
Past due > 60 days
901
351
504
95
1 023 2 168
114
Other
Total
15
934
191
3 760
328
2 454
114
519
6 214
1 458
114
534
7 148
Latvia Lithuania
Germany
Other
Total
177
1 060
* The geographical distribution is based on where the loan is booked.
SEB Group, 31 December 2009
Sweden
SEK m
Corporates
Denmark Norway Finland Estonia
30
12
91
4
210
268
268
Household mortgage
320
701
1 527
776
Other
528
343
398
96
129
387
174
Households
848
343
398
96
830 1 914
950
135
363
5 877
Past due > 60 days
878
355
489
100
1 040 2 182
1 218
135
540
6 937
135
363
3 822
2 055
=
* The geographical distribution is based on where the loan is booked.
=
Portfolio assessed loans*
(Restructured loans)
SEB Group, 31 March 2010
SEK m
=
Sweden
Denmark Norway Finland Estonia
Latvia Lithuania
Germany
Other
Total
Corporates
Household mortgage
16
Other
174
259
449
1
1
Households
16
175
259
450
Restructured loans
16
175
259
450
* The geographical distribution is based on where the loan is booked.
SEB Group, 31 December 2009
SEK m
Sweden
Denmark Norway Finland Estonia
Latvia Lithuania
Germany
Other
Total
Corporates
Household mortgage
19
Other
122
170
311
1
1
Households
19
123
170
312
Restructured loans
19
123
170
312
=
* The geographical distribution is based on where the loan is booked.
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
=
NN
Credit portfolio by industry and geography*
SEB Group, 31 March 2010
SEK m
Sweden
Denmark
Norway
Finland
Estonia
Other
Total
Banks
143 934
14 492
12 811
1 977
696
555
553
62 434 16 655
254 107
Corporates
318 890
17 898
56 852 35 165 15 662 15 291
28 542
108 771 49 384
646 455
Property Management
117 433
184
12 424
7 582
6 874
6 500
12 739
79 172
783
243 691
Public Administration
19 783
90
246
818
2 097
190
2 302
64 155
104
89 785
Households
313 610
5 862
32 862
1 449 19 257 13 120
23 616
91 713
5 709
507 198
Credit portfolio
913 650
38 526
115 195 46 991 44 586 35 656
67 752
406 245 72 635
1 741 236
Latvia Lithuania
Germany
* Geography distribution is based on SEB's operations. Amounts before provisions for credit losses
SEB Group, 31 December 2009
SEK m
Sweden
Denmark
Norway
Finland
Estonia
Other
Total
Banks
175 915
25 286
10 424
1 925
169
685
411
78 964 15 931
309 710
Corporates
321 612
19 389
58 473 35 774 18 159 17 817
31 836
103 411 49 329
655 800
Property Management
113 672
143
12 567
7 896
7 213
7 030
13 664
83 768
798
246 751
Public Administration
23 253
105
272
660
2 238
287
2 445
65 378
64
94 702
Households
306 258
5 951
33 299
1 541 20 472 14 034
25 301
97 445
5 164
509 465
Credit portfolio
940 710
50 874
115 035 47 796 48 251 39 853
73 657
428 966 71 286
1 816 428
* Geography distribution is based on SEB's operations. Amounts before provisions for credit losses
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
=
Latvia Lithuania
Germany
=
NO
Appendix 3 Market risk
qÜÉ=dêçìéÛë=êáëâ=í~âáåÖ=áå=íê~ÇáåÖ=çéÉê~íáçåë=áë=éêáã~êáäó=
ãÉ~ëìêÉÇ=Äó=î~äìÉ=~í=êáëâI=s~oK=qÜÉ=dêçìé=Ü~ë=ÅÜçëÉå=~=
äÉîÉä=çÑ=VV=éÉê=ÅÉåí=éêçÄ~Äáäáíó=~åÇ=~=íÉåJÇ~ó=íáãÉJÜçêáòçå=
Ñçê=êÉéçêíáåÖK=få=íÜÉ=Ç~óJíçJÇ~ó=êáëâ=ã~å~ÖÉãÉåí=çÑ=
íê~ÇáåÖ=éçëáíáçåëI=pb_=Ñçääçïë=ìé=äáãáíë=ïáíÜ=~=çåÉJÇ~ó=
íáãÉ=ÜçêáòçåK==
qÜÉ=í~ÄäÉ=ÄÉäçï=ëÜçïë=íÜÉ=êáëâ=ÉñéçëìêÉë=Äó=êáëâ=íóéÉK=
^ää=êáëâ=ÉñéçëìêÉë=~êÉ=ïÉää=ïáíÜáå=íÜÉ=_ç~êÇÛë=ÇÉÅáÇÉÇ=
äáãáíëK=aìêáåÖ=íÜÉ=Ñáêëí=èì~êíÉê=çÑ=OMNMI=íÜÉ=dêçìéÛë=s~äìÉ=
~í=oáëâ=áå=íÜÉ=íê~ÇáåÖ=çéÉê~íáçåë=~îÉê~ÖÉÇ=pbh=OMSãK=qÜáë=
ãÉ~åë=íÜ~í=íÜÉ=dêçìéI=çå=~îÉê~ÖÉI=ïáíÜ=VV=éÉê=ÅÉåí=
éêçÄ~ÄáäáíóI=ëÜçìäÇ=åçí=ÉñéÉÅí=íç=äçëÉ=ãçêÉ=íÜ~å=íÜáë=
~ãçìåí=ÇìêáåÖ=~=íÉåJÇ~ó=éÉêáçÇK=
qÜÉ=~îÉê~ÖÉ=åìãÄÉêë=~êÉ=åçí=Ñìääó=Åçãé~ê~ÄäÉ=ÇìÉ=íç=
íÜÉ=ÅÜ~åÖÉ=çÑ=êáëâ=ãçÇÉä=ÇìêáåÖ=ä~íÉê=Ü~äÑ=çÑ=OMMVK=qÜÉ=êáëâ=
í~âáåÖ=~ÅíáîáíáÉë=çå=~=éçëáíáçå=ëáòÉ=Ä~ëáë=Ü~ë=áåÅêÉ~ëÉÇ=
ëçãÉïÜ~í=ÇìêáåÖ=OMNMK=eçïÉîÉêI=~ë=íÜÉ=ÜáÖÜÉê=îçä~íáäáíáÉë==
~ÑíÉê=íÜÉ=Ä~åâêìéíÅó=çÑ=iÉÜã~å=_êçíÜÉêë=Ü~îÉ=Ñ~ÇÉÇ=çìíI=
s~äìÉ=~í=oáëâ=Ü~ë=ÇÉÅêÉ~ëÉÇK=
=
Value at Risk (99 per cent, ten days)
SEKm
Min
Max
31 Mar 2010
Average 2010
Average 2009
Interest rate risk
96
257
99
125
152
Credit spread risk
52
232
232
121
111
Foreign exchange rate risk
24
136
36
50
60
Equity price risk
20
112
94
40
50
Commodities risk
0
4
0
1
1
-201
-131
-212
260
206
162
Diversification
Total
133
289
=
=
=
=
=
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~åì~êóJj~êÅÜ=OMNM=
=
NP
Appendix 4 Profit and loss accounts by division, business area and
quarter
=
SEB Group
Total
=
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net life insurance income
Net other income
Total operating income
4 223
3 801
- 161
713
222
8 798
4 421
3 909
1 161
642
266
10 399
4 553
3 754
247
504
154
9 212
5 513
3 790
1 723
516
1 153
12 695
5 904
3 215
1 133
862
316
11 430
5 370
3 802
1 471
946
1 585
13 174
4 519
3 566
946
857
- 153
9 735
3 697
3 877
935
932
433
9 874
3 875
3 483
950
879
185
9 372
19 490
14 460
4 485
3 597
2 181
44 213
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-3 899
-1 756
-3 993
-2 098
-3 752
-1 820
-4 597
-1 968
-4 391
-1 838
-4 262
-1 918
-3 735
-1 899
-3 186
-2 473
-3 865
-2 090
-15 574
-8 128
- 372
-6 027
- 354
-6 445
- 398
-5 970
- 400
-6 965
-1 015
-7 244
-2 832
-9 012
- 381
-6 015
- 467
-6 126
- 412
-6 367
-4 695
-28 397
SEK m
Profit before credit losses
2 771
3 954
3 242
5 730
4 186
4 162
3 720
3 748
3 005
15 816
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
3
- 364
2 410
1
- 448
3 507
- 716
2 526
1
-1 703
4 028
2
-2 386
1 802
23
-3 567
618
3
-3 335
388
- 24
-3 160
564
-4
-1 926
1 075
4
-12 448
3 372
Income tax expense
Net profit from continuing operations
- 562
1 848
- 699
2 808
- 641
1 885
- 519
3 509
- 781
1 021
- 792
- 174
- 350
38
- 277
287
- 386
689
-2 200
1 172
Gains less losses from assets held for sale
Net profit
1 848
1
2 809
1
1 886
-2
3 507
6
1 027
4
- 170
-1
37
-3
284
689
6
1 178
Attributable to minority interests
1
3
4
1
2
23
12
27
15
64
Attributable to equity holders
1 847
2 806
1 882
3 506
1 025
- 193
25
257
674
1 114
=
=
=
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
NQ
=
Merchant Banking
Total
=
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
=
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
1 525
1 241
119
42
2 927
1 538
1 470
936
66
4 010
1 738
1 374
757
77
3 946
2 613
1 163
1 813
341
5 930
2 919
1 172
1 186
115
5 392
2 683
1 618
1 498
-8
5 791
2 402
1 326
981
40
4 749
1 978
1 531
712
- 101
4 120
2 014
1 083
1 017
50
4 164
9 982
5 647
4 377
46
20 052
- 964
- 909
-1 105
- 937
- 867
- 830
- 954
- 918
-1 092
- 949
-1 106
-1 014
- 775
- 942
- 556
- 958
- 993
- 974
-3 529
-3 863
- 22
-1 895
- 21
-2 063
- 22
-1 719
- 30
-1 902
- 25
-2 066
- 34
-2 154
- 35
-1 752
- 61
-1 575
- 27
-1 994
-155
-7 547
1 032
1 947
2 227
4 028
3 326
3 637
2 997
2 545
2 170
12 505
3
- 27
- 21
1
- 249
1
- 592
- 279
- 367
- 107
-1
- 52
- 104
-1
-805
1 008
1 926
1 979
3 437
3 047
3 270
2 890
2 492
2 066
11 699
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
290
528
80
10
908
253
782
889
14
1 938
315
594
873
8
1 790
976
372
2 003
- 48
3 303
1 452
354
1 319
73
3 198
1 251
552
1 552
- 70
3 285
977
416
1 055
2
2 450
583
451
760
- 87
1 707
611
316
1 041
3
1 971
4 263
1 773
4 686
-82
10 640
- 430
- 414
- 508
- 414
- 380
- 369
- 422
- 432
- 473
- 410
- 478
- 435
- 322
- 413
- 312
- 418
- 430
- 438
-1 585
-1 676
-6
- 850
-7
- 929
-8
- 757
- 10
- 864
-8
- 891
-8
- 921
-8
- 743
-9
- 739
-7
- 875
-33
-3 294
58
1 009
1 033
2 439
2 307
2 364
1 707
968
1 096
7 346
-1
- 20
- 13
- 68
- 196
- 62
-1
5
-1
196
1
-1
138
37
996
965
2 243
2 245
2 363
1 712
1 163
1 097
7 483
=
=
=
=
Merchant Banking
Trading and Capital Markets
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
=
=
=
=
=
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
NR
Merchant Banking
Corporate Banking
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
871
316
22
26
1 235
884
279
29
50
1 242
1 031
395
-126
67
1 367
1 269
402
-207
386
1 850
1 094
397
-140
24
1 375
1 082
624
-64
49
1 691
1 146
456
-86
30
1 546
1 117
647
-59
-24
1 681
1 053
371
-35
33
1 422
4 439
2 124
-349
79
6 293
-427
-170
-482
-185
-384
-152
-420
-158
-436
-190
-447
-208
-299
-188
-134
-220
-401
-220
-1 316
-806
-13
-610
-13
-680
-13
-549
-16
-594
-12
-638
-12
-667
-12
-499
-19
-373
-17
-638
-55
-2 177
625
562
818
1 256
737
1 024
1 047
1 308
784
4 116
4
-7
-8
1
-174
-396
-167
-336
-109
-178
-98
-790
622
554
645
860
570
688
938
1 130
686
3 326
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
364
397
17
5
783
400
409
18
3
830
394
384
10
3
791
368
389
18
2
777
373
421
7
19
820
350
441
11
12
814
279
455
12
7
753
278
433
10
10
731
350
396
11
14
771
1 280
1 750
40
48
3 118
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-106
-325
-115
-338
-105
-308
-111
-330
-183
-350
-180
-370
-155
-340
-110
-321
-162
-316
-628
-1 381
-3
-434
-1
-454
-2
-415
-2
-443
-5
-538
-15
-565
-15
-510
-31
-462
-3
-481
-66
-2 075
349
376
376
334
282
249
243
269
290
1 043
-50
-30
-3
-70
-7
-153
232
219
240
199
283
890
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
=
=
=
=
=
Merchant Banking
Global Transaction Services
SEK m
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
-7
349
376
369
334
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
NS
Retail Banking
Total
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
1 655
1 209
60
13
2 937
1 747
1 183
70
17
3 017
1 864
1 134
47
14
3 059
1 929
1 165
71
48
3 213
1 882
1 057
72
22
3 033
1 704
1 124
81
13
2 922
1 651
1 089
55
26
2 821
1 642
1 158
82
22
2 904
1 537
1 076
65
21
2 699
6 879
4 428
290
83
11 680
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-955
-1 038
-959
-1 049
-941
-1 040
-973
-1 156
-1 069
-1 078
-1 050
-1 140
-1 022
-1 088
-911
-1 127
-985
-1 047
-4 052
-4 433
-55
-2 048
-55
-2 063
-54
-2 035
-58
-2 187
-44
-2 191
-52
-2 242
-43
-2 153
-41
-2 079
-38
-2 070
-180
-8 665
889
954
1 024
1 026
842
680
668
825
629
3 015
-88
-159
-163
2
-240
-260
-363
-1
-364
-1
-382
-312
-2
-1 369
801
795
861
788
582
317
303
442
317
1 644
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
1 085
393
58
10
1 546
1 135
364
69
-1
1 567
1 233
349
49
5
1 636
1 273
384
74
4
1 735
1 235
369
72
5
1 681
1 109
357
80
4
1 550
1 068
352
57
5
1 482
1 017
393
84
5
1 499
948
385
65
4
1 402
4 429
1 471
293
19
6 212
-449
-511
-447
-537
-443
-494
-435
-565
-488
-487
-486
-548
-442
-490
-424
-526
-458
-490
-1 840
-2 051
-3
-963
-4
-988
-11
-948
-17
-1 017
-9
-984
-16
-1 050
-12
-944
-11
-961
-11
-959
-48
-3 939
583
579
688
718
697
500
538
538
443
2 273
-9
-23
-53
-105
-95
-90
-92
-118
-105
-395
574
556
635
613
602
410
446
420
338
1 878
SEK m
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Retail Banking
Retail Sweden
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
=
=
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
NT
Retail Banking
Retail Germany
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
480
340
3
1
824
469
307
1
12
789
500
313
-3
11
821
514
270
-3
35
816
426
267
321
298
-2
8
625
365
297
-2
3
663
336
287
3
696
345
313
1
4
663
12
635
1 457
1 175
-3
18
2 647
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-327
-390
-326
-363
-329
-397
-351
-431
-394
-435
-376
-427
-400
-443
-339
-461
-330
-409
-1 509
-1 766
-42
-759
-41
-730
-32
-758
-31
-813
-24
-853
-24
-827
-19
-862
-20
-820
-17
-756
-87
-3 362
SEK m
Profit before credit losses
65
59
63
3
-157
-164
-237
-157
-121
-715
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
-27
-23
-17
2
9
-55
-150
-1
-165
-1
-159
-116
-2
-529
Operating profit
38
36
46
14
-212
-314
-403
-317
-237
-1 246
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net other income
Total operating income
90
469
8
567
142
508
13
663
132
468
4
604
141
510
13
664
220
415
21
656
250
451
11
712
263
429
18
710
261
468
20
749
253
397
15
665
994
1 763
70
2 827
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-179
-138
-187
-150
-170
-150
-187
-162
-187
-157
-187
-168
-181
-151
-148
-146
-196
-152
-703
-622
-10
-327
-10
-347
-10
-330
-10
-359
-11
-355
-12
-367
-11
-343
-11
-305
-10
-358
-45
-1 370
240
316
274
305
301
345
367
444
307
1 457
-51
-112
-94
-144
-110
-124
-107
-104
-91
-445
189
204
180
161
191
221
260
340
216
1 012
=
=
=
=
=
Retail Banking
Cards
SEK m
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
=
NU
Wealth Management
Total
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
242
958
20
9
1 229
200
820
7
27
1 054
237
784
14
3
1 038
213
1 118
26
11
1 368
190
659
20
1
870
159
713
16
12
900
133
730
17
1
881
116
853
23
3
995
111
868
18
997
598
2 955
76
17
3 646
-383
-288
-366
-270
-331
-249
-347
-325
-340
-286
-337
-292
-302
-272
-250
-310
-314
-302
-1 229
-1 160
-24
-695
-23
-659
-25
-605
-29
-701
-30
-656
-33
-662
-29
-603
-24
-584
-20
-636
-116
-2 505
534
395
433
667
214
238
278
411
361
1 141
22
-15
-8
29
-12
1
-25
-1
-8
-1
29
-28
509
417
433
652
206
255
279
402
360
1 142
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
56
770
4
7
837
62
638
65
613
-2
23
507
1
-3
697
676
54
933
22
2
1 011
531
11
529
2
4
546
13
542
4
2
561
13
621
8
3
645
8
641
3
-1
651
60
2 199
15
9
2 283
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-242
-161
-230
-160
-203
-144
-218
-197
-228
-173
-217
-186
-178
-184
-153
-201
-225
-207
-776
-744
-17
-420
-16
-406
-18
-365
-22
-437
-23
-424
-26
-429
-23
-385
-20
-374
-14
-446
-92
-1 612
417
291
311
574
107
117
176
271
205
671
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Wealth Management
Institutional Clients
SEK m
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
34
417
291
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
311
574
107
151
-1
176
270
33
205
704
NV
Wealth Management
Private Banking
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
185
188
16
2
391
138
181
8
31
358
172
173
15
167
151
19
1
338
148
184
15
7
354
121
193
12
360
158
184
4
9
355
326
103
228
15
2
348
102
228
15
2
347
539
756
61
10
1 366
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-140
-127
-137
-111
-128
-103
-129
-127
-111
-113
-121
-106
-124
-93
-96
-106
-89
-96
-452
-418
-7
-274
-6
-254
-6
-237
-7
-263
-7
-231
-6
-233
-6
-223
-6
-208
-6
-191
-25
-895
123
92
107
121
103
140
156
471
-15
-8
-5
-12
-8
-1
-5
-28
SEK m
117
104
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Profit before credit losses
-25
22
Operating profit
92
126
123
77
99
104
103
132
155
438
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
-16
954
-13
883
-3
720
-4
739
-10
1 043
-5
1 148
-2
1 107
-1
1 145
-2
1 186
-18
4 443
938
870
717
735
1 033
1 143
1 105
1 144
1 184
4 425
-262
-148
-285
-132
-266
-126
-292
-117
-274
-126
-299
-146
-271
-120
-263
-144
-282
-131
-1 107
-536
-160
-570
-145
-562
-149
-541
-115
-524
-165
-565
-177
-622
-158
-549
-167
-574
-173
-586
-667
-2 310
368
308
176
211
468
521
556
570
598
2 115
368
308
176
211
468
521
556
570
598
2 115
=
=
=
=
Life
Total
SEK m
Net interest income
Net life insurance income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit *
Change in surplus values
250
227
132
380
111
395
224
170
229
900
Business result
618
535
308
591
579
916
780
740
827
3 015
* Consolidated in the Group accounts
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
OM
Baltic
Total
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
897
221
35
8
1 161
846
248
32
69
1 195
889
237
38
12
1 176
923
242
45
41
1 251
778
238
37
12
1 065
751
248
23
-8
1 014
628
227
35
-6
884
522
221
31
57
831
490
209
26
4
729
2 679
934
126
55
3 794
-185
-281
-193
-316
-191
-301
-174
-330
-220
-336
-197
-345
-176
-307
-137
-464
-179
-304
-730
-1 452
-21
-487
-21
-530
-21
-513
-23
-527
-25
-581
-2 328
-2 870
-15
-498
-21
-622
-20
-503
-2 389
-4 571
Profit before credit losses
674
665
663
724
484
-1 856
386
209
226
-777
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
-220
-283
-353
-853
2
-1 702
-6
-2 641
3
-2 642
-16
-2 584
-1 431
-17
-9 569
Operating profit
454
382
310
-129
-1 216
-4 503
-2 253
-2 391
-1 205
-10 363
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
211
86
9
3
309
224
90
8
61
383
250
78
9
2
339
254
75
13
22
364
252
78
9
6
345
238
83
-4
-12
305
226
79
7
-6
306
200
75
18
45
338
154
72
9
3
238
916
315
30
33
1 294
-56
-75
-51
-93
-55
-81
-54
-91
-61
-100
-57
-90
-56
-92
-35
-210
-64
-108
-209
-492
-5
-136
-5
-149
-5
-141
-5
-150
-5
-166
-679
-826
-2
-150
-7
-252
-4
-176
-693
-1 394
Profit before credit losses
173
234
198
214
179
-521
156
86
62
-100
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
-166
-202
-60
-79
-232
-454
-212
-297
-151
-1 195
7
32
138
135
-53
-975
-56
-211
-89
-1 295
=
Baltic
Baltic Estonia
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Operating profit
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
ON
Baltic
Baltic Latvia
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
273
44
10
327
241
49
7
2
299
240
49
10
1
300
269
60
12
6
347
242
56
11
-1
308
256
53
11
-2
318
212
55
8
-5
270
140
48
2
6
196
151
46
6
2
205
850
212
32
-2
1 092
-50
-92
-54
-102
-47
-93
-57
-96
-62
-109
-56
-102
-49
-93
-44
-101
-48
-80
-211
-405
-8
-150
-8
-164
-8
-148
-9
-162
-10
-181
-415
-573
-8
-150
-9
-154
-8
-136
-442
-1 058
177
135
152
185
127
-255
120
42
69
34
-37
-46
-159
-250
-684
-917
-941
-1
-586
-574
-1
-3 128
140
89
-7
-65
-557
-1 172
-821
-545
-505
-3 095
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
412
92
16
6
526
381
110
16
6
513
400
109
18
10
537
399
107
20
14
540
283
104
17
7
411
257
112
16
6
391
190
93
19
6
308
184
97
12
5
298
185
91
11
-1
286
914
406
64
24
1 408
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
-80
-114
-88
-121
-89
-127
-62
-143
-97
-126
-84
-153
-70
-123
-60
-152
-67
-116
-311
-554
-8
-202
-8
-217
-8
-224
-9
-214
-10
-233
-1 234
-1 471
-4
-197
-6
-218
-8
-191
-1 254
-2 119
324
296
313
326
178
-1 080
111
80
95
-711
-17
-34
-134
-524
2
-786
-5
-1 270
3
-1 489
-16
-1 701
-706
-16
-5 246
307
262
179
-198
-606
-2 355
-1 375
-1 637
-611
-5 973
SEK m
Net interest income
Net fee and commission income
Net financial income
Net other income
Total operating income
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Baltic
Baltic Lithuania
SEK m
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
OO
Other and eliminations
Total
SEK m
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Net interest income
Net fee and commission income
Net financial income
Net life insurance income
Net other income
Total operating income
-80
172
-395
-241
150
-394
103
188
116
-241
87
253
-172
225
-609
-216
48
-724
-161
102
-232
-223
712
198
145
89
-182
-181
166
37
78
99
-147
-202
1 576
1 404
-293
194
-142
-250
-214
-705
-560
114
87
-213
452
-120
-275
247
-176
-307
110
-401
-630
496
-384
-846
1 980
616
-1 150
908
-1 085
606
-1 156
726
-1 857
878
-1 396
937
-1 273
1 019
-1 189
830
-1 069
530
-1 112
668
-4 927
3 316
-90
-332
-89
-568
-127
-557
-145
-1 124
-726
-1 185
-208
-462
-101
-460
-153
-692
-134
-578
-1 188
-2 799
-726
-315
-1 281
-926
-1 148
942
-1 165
-812
-979
-2 183
-4
1
-7
-1
49
-2
-3
-137
-184
-222
-5
-134
-4
-78
-5
-677
-730
-321
-1 233
-931
-1 285
758
-1 387
-951
-1 061
-2 865
Staff costs
Other expenses
Depreciation, amortisation and impairment of
tangible and intangible assets
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
OP
The SEB Group
Net interest income
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full year
2009
24 091
-19 868
23 965
-19 544
24 069
-19 516
25 156
-19 643
19 966
-14 062
16 276
-10 906
14 147
-9 628
12 790
-9 093
12 271
-8 396
63 179
-43 689
4 223
4 421
4 553
5 513
5 904
5 370
4 519
3 697
3 875
19 490
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Issue of securities
Secondary market
Custody and mutual funds
Securities commissions
7
758
1 804
2 569
91
913
1 664
2 668
47
654
1 623
2 324
27
444
1 931
2 402
35
559
1 345
1 939
167
732
1 445
2 344
99
594
1 504
2 197
200
580
1 674
2 454
45
503
1 739
2 287
501
2 465
5 968
8 934
Payments
Card fees
Payment commissions
439
1 032
1 471
464
1 108
1 572
447
1 066
1 513
494
1 094
1 588
457
1 037
1 494
465
1 090
1 555
458
1 047
1 505
478
1 074
1 552
451
998
1 449
1 858
4 248
6 106
289
185
23
67
113
176
853
173
270
24
71
116
180
834
329
258
25
78
175
168
1 033
327
291
26
85
197
124
1 050
177
335
28
95
159
171
965
293
352
27
99
153
179
1 103
266
357
27
115
131
161
1 057
301
339
26
107
115
199
1 087
143
341
26
112
134
149
905
1 037
1 383
108
416
558
710
4 212
4 893
5 074
4 870
5 040
4 398
5 002
4 759
5 093
4 641
19 252
Securities commissions
Payment commissions
Other commissions
Commission expense
- 241
- 585
- 266
-1 092
- 275
- 631
- 259
-1 165
- 226
- 593
- 297
-1 116
- 228
- 641
- 381
-1 250
- 233
- 639
- 311
-1 183
- 190
- 597
- 413
-1 200
- 249
- 591
- 353
-1 193
- 202
- 615
- 399
-1 216
- 295
- 592
- 271
-1 158
-874
-2 442
-1 476
-4 792
Securities commissions
Payment commissions
Other commissions
2 328
886
587
2 393
941
575
2 098
920
736
2 174
947
669
1 706
855
654
2 154
958
690
1 948
914
704
2 252
937
688
1 992
857
634
8 060
3 664
2 736
Net fee and commission income
3 801
3 909
3 754
3 790
3 215
3 802
3 566
3 877
3 483
14 460
Q1
2008
Q2
2008
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Q1
2010
Full Year
2009
Equity instruments and related derivatives
Debt instruments and related derivatives
Currency related
Other financial instruments
Impairments
171
-1 164
832
306
108
747
489
- 114
270
-9
- 389
449
111
1 227
21
- 85
95
58
1 041
3
- 64
- 166
568
1 127
-2
- 56
- 40
- 33
1 060
- 12
- 29
46
211
683
7
- 12
138
468
354
2
- 12
-65
804
3 911
-4
-161
Net financial income
- 161
1 161
247
1 723
1 133
1 471
946
935
950
4 485
SEK m
Interest income
Interest expense
Net interest income
=
=
=
=
The SEB Group
Net fee and commission income
SEK m
Advisory
Lending
Deposits
Guarantees
Derivatives
Other
Other commissions
Total commission income
The SEB Group
Net financial income
SEK m
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
OQ
Appendix 5 Profit and loss accounts by geography and quarter
=
Sweden
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Q1
2008
5 096
-3 384
1 712
Q2
2008
4 850
-3 643
1 207
Q3
2008
5 144
-3 276
1 868
Q4
2008
7 417
-3 372
4 045
Q1
2009
5 663
-4 447
1 216
Q2
2009
7 536
-4 849
2 687
Q3
2009
4 993
-3 027
1 966
Q4
2009
4 891
-2 949
1 942
Q1
2010
4 824
-3 492
1 332
Full year
2009
23 083
-15 272
7 811
- 19
1 693
- 38
1 169
- 162
1 706
- 269
3 776
- 285
931
- 451
2 236
- 139
1 827
- 260
1 682
- 192
1 140
-1 135
6 676
Goodwill impairments for holdings in the Baltic region, Russia and Ukraine affect operating expenses and profit by SEK 1.5bn in Q2 and 0.6bn
in Q1 2009. Centralisation of bond portfolios from U.S. to Sweden affected operating income and profit by SEK 1.8bn in Q4 2008.
Norway
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Q1
2008
560
- 323
237
Q2
2008
729
- 390
339
Q3
2008
624
- 350
274
Q4
2008
989
- 401
588
Q1
2009
937
- 306
631
Q2
2009
966
- 372
594
Q3
2009
896
- 393
503
Q4
2009
850
- 236
614
Q1
2010
726
- 335
391
Full year
2009
3 649
-1 307
2 342
- 60
177
- 61
278
- 39
235
- 106
482
- 72
559
- 73
521
- 44
459
- 28
586
- 51
340
- 217
2 125
Q1
2008
604
- 356
248
Q2
2008
492
- 385
107
Q3
2008
521
- 332
189
Q4
2008
615
- 334
281
Q1
2009
801
- 399
402
Q2
2009
798
- 453
345
Q3
2009
752
- 368
384
Q4
2009
785
- 323
462
Q1
2010
724
- 380
344
Full year
2009
3 136
-1 543
1 593
- 23
225
- 24
83
- 30
159
- 192
89
- 45
357
- 36
309
- 30
354
- 70
392
- 26
318
- 181
1 412
Q1
2008
281
- 152
129
Q2
2008
348
- 176
172
Q3
2008
303
- 161
142
Q4
2008
302
- 180
122
Q1
2009
372
- 99
273
Q2
2009
201
- 159
42
Q3
2009
246
- 120
126
Q4
2009
374
- 196
178
Q1
2010
254
- 101
153
Full year
2009
1 193
- 574
619
-2
127
-4
168
-2
140
-3
119
- 12
261
-5
37
-8
118
-2
176
-3
150
- 27
592
Q1
2008
1 353
-1 210
143
2
Q2
2008
1 919
-1 155
764
Q3
2008
1 135
-1 185
- 50
Q4
2008
1 540
-1 417
123
2
Q1
2009
1 649
-1 366
283
Q2
2009
1 750
-1 286
464
Q3
2009
1 140
-1 343
- 203
-1
Q4
2009
1 415
-1 330
85
-3
Q1
2010
1 331
-1 235
96
Full year
2009
5 954
-5 325
629
-4
- 37
108
- 29
735
- 105
- 155
- 59
66
- 101
182
- 214
250
- 219
- 423
- 186
- 104
- 154
- 58
Denmark
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Finland
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Germany
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
=
=
=
=
=
=
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
- 720
- 95 =
OR
Estonia
Q1
Q2
Q3
SEK m
2008
2008
2008
Total operating income
328
503
399
Total operating expenses
- 137
- 215
- 171
Profit before credit losses
191
288
228
Gains less losses on disposals of tangible and
intangible assets
- 60
Net credit losses
- 166
- 202
Operating profit
25
86
168
Goodwill impairment affected operating expenses and profit by SEK 0.3bn in Q2 2009.
Q4
2008
301
- 192
109
Q1
2009
370
- 202
168
Q2
2009
319
- 439
- 120
-1
Q3
2009
343
- 167
176
1
Q4
2009
388
- 267
121
Q1
2010
315
- 197
118
Full year
2009
1 420
-1 075
345
- 79
30
- 232
- 64
- 454
- 575
- 212
- 35
- 297
- 176
- 151
- 33
-1 195
- 850
Latvia
Q1
2008
409
- 176
233
Q2
2008
388
- 187
201
Q3
2008
392
- 171
221
Q4
2008
443
- 200
243
Q1
2009
467
- 209
258
Q2
2009
453
- 208
245
-1
Q3
2009
436
- 168
268
Q4
2009
313
- 180
133
Q1
2010
297
- 141
156
Full year
2009
1 669
- 765
904
-1
- 38
195
- 47
154
- 170
51
- 252
-9
- 684
- 426
- 917
- 673
- 941
- 673
- 586
- 453
- 574
- 418
-3 128
-2 225
Q1
Q2
Q3
SEK m
2008
2008
2008
Total operating income
597
631
657
Total operating expenses
- 232
- 264
- 268
Profit before credit losses
365
367
389
Gains less losses on disposals of tangible and
intangible assets
- 137
Net credit losses
- 17
- 34
Operating profit
348
333
252
Goodwill impairment affected operating expenses and profit by SEK 0.6bn in Q2 2009.
Q4
2008
595
- 266
329
1
Q1
2009
545
- 265
280
2
Q2
2009
430
- 839
- 409
-5
Q3
2009
393
- 225
168
2
Q4
2009
313
- 292
21
- 16
Q1
2010
322
- 211
111
Full year
2009
1 681
-1 621
60
- 17
- 546
- 216
- 786
- 504
-1 270
-1 684
-1 489
-1 319
-1 705
-1 700
- 706
- 595
-5 250
-5 207
Q2
2009
721
- 407
314
Q3
2009
536
- 204
332
Q4
2009
545
- 353
192
Q1
2010
579
- 275
304
Full year
2009
2 428
- 915
1 513
26
30
- 147
197
1
- 253
80
-5
- 26
161
-4
- 69
231
SEK m
Total operating income
Total operating expenses
Profit before credit losses
Gains less losses on disposals of tangible and
intangible assets
Net credit losses
Operating profit
Lithuania
Other countries and eliminations
Q1
Q2
Q3
Q4
Q1
SEK m
2008
2008
2008
2008
2009
Total operating income
- 430
539
37
493
626
Total operating expenses
- 57
- 30
- 56
- 603
49
Profit before credit losses
- 487
509
- 19
- 110
675
Gains less losses on disposals of tangible and
1
1
intangible assets
-2
- 11
- 197
- 169
Net credit losses
-2
-9
Operating profit
- 488
501
- 30
- 309
506
Centralisation of bond portfolios from U.S. to Sweden affected operating income and profit by SEK 1.8bn in Q4 2008.
pb_=^ÇÇáíáçå~ä=fåÑçêã~íáçå=g~ì~êóJj~êÅÜ=OMNM=
- 595
944
=
OS