Excluding communicated items of a one-time character (22 January),
operating
profit amounted to SEK 4.0bn (SEK 3.3 bn in the fourth quarter of
2011) and the
full year operating profit was SEK 15.4bn (15.0)

"Operating
income in the quarter exceeded SEK 10bn which reflected a strong fee
generation
capacity. For the full year, profit before credit losses increased by
7 per
cent, excluding one-off items by 15 per cent." says Annika Falkengren,
SEB's
President and CEO, commenting on the Annual Accounts 2012.

"As we close the
former 3-year plan, SEB's platform is considerably stronger. We
have attracted
close to 300 large corporate clients in Merchant Banking and for
the first time
been recognised as the leading corporate bank in the Nordic
region. We have
clearly strengthened our position in the Swedish SME business
with strong
improvements of customer satisfaction."

"Going forward, the long-term
financial targets reflect our higher ambition of
having the most satisfied
customers and closing the financial performance gap to
peers. On the cost side,
we lower the cost-cap to SEK 22.5bn for 2013 and 2014."

Excluding communicated
items of a one-time character (22 January), profit before
credit losses
amounted to SEK 4.3bn (SEK 3.3 bn in the fourth quarter of 2011).
Operating
income amounted to SEK 10.0bn, up 8 per cent compared to the fourth
quarter
2011. Operating expenses, at SEK 5.8bn, were 4 per cent higher than the
fourth
quarter 2011. Operating profit amounted to SEK 4.0bn.

Including one-off items,
operating income amounted to SEK 9.6bn and operating
expenses SEK 6.5bn.
Operating profit was SEK 2.8bn. Net profit amounted to SEK
3.2bn corresponding
to a return on equity of 11.9 per cent.

Provisions for credit losses amounted
to SEK 0.3bn, corresponding to a net
credit loss level of 8 bps.

The liquidity
coverage ratio was 113 per cent, the core liquidity reserve
amounted to
SEK 373bn and the total liquid resources were SEK 632bn.

The Core Tier 1
capital ratio was 15.1 per cent (13.7 at year-end) according to
current
regulation. According to Basel III, the Common Equity Tier 1 ratio was
13.1 per
cent.

The Board proposes a dividend per share of SEK 2.75 corresponding to a
pay-out
ratio of 52 per cent of earnings per share at SEK 5.31 for the full
year.

Download Annika Falkengren's presentation

Download Factbook



 For
further information, please contact
 Jan Erik Back, CFO, +46 8 22 19 00
 Ulf
Grunnesjö, Head of Investor Relations,
 +46 8 763 85 01; +46 70 763 85 01

Viveka Hirdman-Ryrberg, Head of Corporate
 Communication, +46 8 763 85 77, +46
70 550 35
     00


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SEB is a leading Nordic financial services group. As a relationship bank, SEB

in Sweden and the Baltic countries offers financial advice and a wide range of

financial services. In Denmark, Finland, Norway and Germany the bank's

operations have a strong focus on corporate and investment banking based on a

full-service offering to corporate and institutional clients. The

international nature of SEB's business is reflected in its presence in some
 20
countries worldwide. At 31 December 2012, the Group's total assets amounted
 to
SEK 2,453 billion while its assets under management totalled SEK 1,328

billion. The Group has around 16,500 employees. Read more about SEB at

http://www.sebgroup.com.
 

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