In Line With Our Expectations, SEB’s Third-Quarter Results See Improving Asset Quality Metrics
SEB's third-quarter profitability confirms that our expectations of a 10% return on equity for the full year isreasonable. Net income came in at SEK 4.2 billion, indicating an 8% decline from last quarter but a 22% increase over last year. The quarterly decline was mainly due to a one-off item booked in the second quarter (gain from Visa Europe of SEK 520 million). Year-to-date net income was SEK 6.4 billion, and reported return on equity stood at 6.9%, which declined 500 basis points versus a y...Skandinaviska Enskilda Banken provides corporate, retail, investment and private banking services, as well as asset management and life insurance services. Merchant Banking provides wholesale and investment banking services to corporations and institutions. Retail Banking provides products mainly to private customers and small and medium-sized corporate. Wealth Management performs asset management and private banking activities and Life provides life, care and pension insurance. Division Baltic provides retail, asset management and private banking services in the Baltic countries. As of Dec 31 2013, Co. had total assets of SEK1,904.16 billion and total deposits of SEK821.47 billion.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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