SEB 1Q18 Results: Slide in Trading Gains Causes Profitability to Decline Year Over Year
Skandinaviska Enskilda Banken booked net income of SEK 4.0 billion in the first quarter, indicating a 6% decline year over year. As it stands, current earnings trend in line with our full-year net income estimate of SEK 16 billion. Although net interest income posted decent 6% growth, fees remained flattish, and a 29% slide in trading income was the main cause of a 4% decline in total revenue year over year. While declining and volatile stock markets resulted in less corporate activity and in tu...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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