While its ROE target is optimistic, SEB has a stable business model with stellar asset quality.
On a comparable basis, SEB increased its operating profit for the first half of the year to SEK 11.2 billion, or by 18% from SEK 9.5 billion a year ago, bringing net income to SEK 8.8 billion for the period. In our view, the first-half numbers are good and the cost side is trending better than we expected. For this reason, we plan to raise our fair value estimate to SEK 92 per share from SEK 82. The revision includes the time value of money and our revision of the total cost estimate to SEK 25 b...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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