Q4 2025 pre-close call addressed macro environment, P&L, risk exposure, and capital, with a Q&A session following prepared remarks.
Swedish central bank cut policy rate by 25bps effective October 1, leading to changes in lending and deposit rates.
Entering silent period on January 1; Q4 2025 interim report to be published January 29, 2026.
Average three-month STIBOR declined in Q4; three-month Euribor remained flat, impacting Swedish and Baltic operations respectively.
Net interest income (NII) increased slightly at group level in Q3, aided by higher day count, FX, lower deposit insurance fees, and short-term funding costs.
Business and retail banking NII declined by SEK 100m due to lower deposit margins; Baltic NII stable as higher volumes offset lower rates.
Treasury NII benefited from yield curve and favorable short-term funding.
Net fee and commission income correlated to stock market; marginally positive quarter-on-quarter impact expected.
Advisory and securities-related fees seasonally softer in Q3; no major Q4 transactions.
Stronger SEK marginally reduced income and costs in Q4 compared to Q3.
Cost target for 2025 is SEK 33bn ± SEK 300m, FX adjusted as of Q3 at SEK 32.6bn.
Potential for accelerated AirPlus implementation may affect costs in Q4.
Net expected credit losses reported at three basis points in Q3, with SEK 100m extra in portfolio overlays.
Imposed levies, including Riksbank's interest-free deposits, guided at SEK 3.6bn.
Tax rate proxy for forecasting set at 21%.
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Skandinaviska Enskilda Banken (SEB), headquartered in Stockholm, Sweden, is a prominent financial institution in Northern Europe, providing a comprehensive range of banking services to individuals, corporations, and institutions. With a history dating back to 1856, SEB has built a strong reputation for stability and expertise in financial operations, and they're known for its comprehensive solutions for small and medium-sized businesses. Today, SEB plays a crucial role in the Nordic economy, serving as a significant conduit for investments and financial transactions both within the region and internationally.
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