Interim Results - Part 2
24 Agosto 2001 - 1:16PM
UK Regulatory
RNS Number:9859I
Skandinaviska Enskilda Banken
23 August 2001
PART 2
Operational Profit and Loss Account by division
January- Personal Personal SEB Corporate Invest- The Other SEB
June 2001 Banking Banking Germ- & ment Baltic incl. Group
SEK M Sweden Inter- any Instit- Management elimin-
national utions & Life ations
Net interest 1 613 150 1 990 2 325 30 569 -443 6 234
income
Net 1 034 803 693 2 346 1 090 271 -279 5 958
commission
income
Net result 28 44 80 1 120 -12 124 125 1 509
of financial
transactions
Other 53 59 377 77 405 93 612 1 676
income
Total income 2 728 1 056 3 140 5 868 1 513 1 057 15 15 377
Staff costs -989 -366 -1 371 -1 983 -572 -327 -628 -6 236
Pension
compensation 210 12 139 27 1 140 529
Other
operating
costs -1 010 -606 -854 -1 349 -712 -196 207 -4 520
Depreciation -18 -29 -187 -107 -49 -168 -358 -916
Total costs -1 807 -989 -2 412 -3 300 -1 306 -690 -639 -11 143
Net credit
losses etc -33 -46 -212 129 -115 29 -248
Net result
from
associated
companies -21 27 -8 1 17 16
Operating
profit
from
non-life
insurance
operations 243 243
Operating
Result 888 0 543 2 697 199 253 -335 4 245
Change in
surplus
value in
life
insurance
operations 113 113
Total
Result 888 0 543 2 697 312 253 -335 4 358
Personal Banking Sweden
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 801 780 3 1 613 1 481 9
income
Net commission 493 721 -32 1 034 1 597 -35
income
Net result of 11 4 175 28 20 40
financial
transactions
Other 8 4 100 53 9
operating
income
Total income 1 313 1 509 -13 2 728 3 107 -12
Staff costs -535 -536 0 -989 -1067 -7
Pension 105 116 -9 210 189 11
compensation
Other -497 -473 5 -1 010 -948 7
operating
costs
Depreciation -8 -19 -58 -18 -30 -40
Total costs -935 -912 3 -1 807 -1 856 -3
Net credit -16 -58 -72 -33 -97 -66
losses
Operating 362 539 -33 888 1 154 -23
result
Personal Banking International
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 77 86 -10 150 197 -24
income
Net 394 469 -16 803 915 -12
commission
income
Net result of 22 68 -68 44 93 -53
financial
transactions
Other 52 10 59 22 168
operating
income
Total income 545 633 -14 1 056 1 227 -14
Staff costs -195 -181 8 -366 -348 5
Pension 9 11 -18 12 19 -37
compensation
Other -331 -301 10 -606 -545 11
operating
costs
Depreciation -14 -14 -29 -28 4
Total costs -531 -485 9 -989 -902 10
Net credit -22 7 -46 -3
losses
Net result -4 -60 -93 -21 -108 -81
from
associated
companies
Operating -12 95 -113 214 -100
result
SEB Kort
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 44 29 52 67 66 2
income
Net 312 319 -2 605 592 2
commission
income
Other 40 10 43 17 153
operating
income
Total income 396 358 11 715 675 6
Staff costs -93 -89 4 -184 -173 6
Pension 9 11 -18 12 19 -37
compensation
Other -159 -164 -3 -277 -271 2
operating
costs
Depreciation -8 -9 -11 -16 -18 -11
Total costs -251 -251 -465 -443 5
Net credit -20 -21 -5 -44 -31 42
losses
Operating 125 86 45 206 201 2
result
Personal Banking International excl SEB Kort
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per cent 2001 2000 per cent
Net interest 33 57 -42 83 131 -37
income
Net commission 82 150 -45 198 323 -39
income
Net result of 22 68 -68 44 93 -53
financial
transactions
Other 12 16 5
operating
income
Total income 149 275 -46 341 552 -38
Staff costs -102 -92 11 -182 -175 4
Other -172 -137 26 -329 -274 20
operating
costs
Depreciation -6 -5 20 -13 -10 30
Total costs -280 -234 20 -524 -459 14
Net credit -2 28 -2 28
losses
Net result -4 -60 -93 -21 -108 -81
from
associated
companies
Operating result -137 9 -206 13
Corporate & Institutions
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per cent 2001 2000 per cent
Net
interest
income 1 225 1 113 10 2 325 2 295 1
Net
commission
income 1 221 1 153 6 2 346 2 588 -9
Net result
of financial
transactions 329 390 -16 1 120 1 096 2
Other 23 256 -91 77 297 -74
operating
income
Total 2 798 2 912 -4 5 868 6 276 -7
income
Staff -1 039 1 012 3 -1 983 -2 233 -11
costs
Pension
compensation 69 71 -3 139 117 19
Other -694 -590 18 -1 349 -1 164 16
operating
costs
Depreciation -57 -52 10 -107 -95 13
Total costs -1 721 -1 583 9 -3 300 -3 375 -2
Net credit
losses 109 -23 129 -21
Operating
result 1 186 1 306 -9 2 697 2 880 -6
Merchant Banking
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 643 627 3 1 277 1 343 -5
income
Net
commission 363 235 54 687 553 24
income
Net result
of 261 275 -5 901 656 37
financial
transactions
Other 7 130 -95 46 154 -70
operating
income
Total income 1 274 1 267 1 2 911 2 706 8
Staff costs -504 -433 16 -992 -932 6
Pension 45 47 -4 90 77 17
compensation
Other -335 -300 12 -616 -593 4
operating
costs
Depreciation -22 -27 -19 -41 -46 -11
Total costs -816 -713 14 -1 559 -1 494 4
Recoveries 153 7 176 20
Operating result 611 561 9 1 528 1 232 24
Mid Corporate
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 457 481 -5 923 924 0
income
Net 70 80 -13 142 179 -21
commission
income
Net result 23 23 43 43
of financial
transactions
Other 4 8 -50 13 18 -28
operating
income
Total income 554 592 -6 1 121 1 164 -4
Staff costs -127 -114 11 -245 -221 11
Pension 16 17 -6 33 28 18
compensation
Other -130 -118 10 -255 -235 9
operating
costs
Depreciation -2 -1 100 -4 -3 33
Total costs -243 -216 13 -471 -431 9
Net credit -45 -30 50 -53 -49 8
losses
Operating 266 346 -23 597 684 -13
result
Enskilda
Securities
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 53 -64 5 -95
income
Net 617 664 -7 1 163 1 507 -23
commission
income
Net result 32 84 -62 153 373 -59
of financial
transactions
Other 8 112 -93 11 115 -90
operating
income
Total income 710 796 -11 1 332 1 900 -30
Staff costs -362 -421 -14 -656 -998 -34
Other -162 -117 38 -317 -235 35
operating
costs
Depreciation -32 -24 33 -60 -45 33
Total costs -556 -562 -1 -1 033 -1 278 -19
Recoveries 1 6 8 -25
Operating 155 234 -34 305 630 -52
result
SEB Securities Services
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 75 72 4 126 129 -2
income
Net 171 174 -2 354 349 1
commission
income
Net result 13 8 63 23 24 -4
of financial
transactions
Other 4 6 -33 7 10 -30
operating
income
Total income 263 260 1 510 512 0
Staff costs -44 -38 16 -85 -73 16
Pension 8 7 14 15 12 25
compensation
Other -66 -58 14 -153 -106 44
operating
costs
Depreciation -1 -2 -1 100
Total costs -103 -89 16 -225 -168 34
Operating result 160 171 -6 285 344 -17
SEB Germany
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 963 1 110 -13 1990 2 113 -6
income
Net 346 355 -3 693 845 -18
commission
income
Net result 67 135 -50 80 124 -35
of financial
transactions
Other 101 59 71 377 158 139
operating
income
Total 1 477 1 659 -11 3 140 3 240 -3
income
Staff costs -691 -689 0 -1 371 -1 352 1
Other -407 -501 -19 -854 -947 -10
operating
costs
Depreciation -95 -86 10 -187 -174 7
Total costs -1 193 -1 276 -7 -2 412 -2 473 -2
Net credit -112 -129 -13 -212 -439 -52
losses
Net result 7 57 -88 27 107 -75
from
associated
companies
Operating 179 311 -42 543 435 25
result
Investment Management & Life
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 11 14 -21 30 28 7
income
Net commission 534 562 -5 1 090 1 116 -2
income
Net result -5 4 -12 4
of financial
transactions
Other 199 204 -2 405 408 -1
operating
income
Total income 739 784 -6 1 513 1 556 -3
Staff costs -298 -266 12 -572 -521 10
Pension 14 13 8 27 21 29
compensation
Other -344 -330 4 -712 -689 3
operating
costs
Depreciation -25 -22 14 -49 -41 20
Total costs -653 -605 8 -1 306 -1 230 6
Net result -5 -4 25 -8 -6 33
from
associated
companies
Operating 81 175 -54 199 320 -38
result
Change in
surplus
value in
life
insurance 364 -46 113 427 -74
operations
Total 445 129 312 747 -58
result
SEB Invest
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest -3 -1 200 3
income
Net 372 395 -6 773 774 0
commission
income
Net result 5 4 25 6
of financial
transactions
Other -2 -100 1 2 -50
operating
income
Total income 374 396 -6 783 776 1
Staff costs -156 -137 14 -291 -260 12
Pension 14 13 8 27 21 29
compensation
Other -104 -115 -10 -215 -213 1
operating
costs
Depreciation -8 -7 14 -17 -12 42
Total costs -254 -246 3 -496 -464 7
Operating 120 150 -20 287 312 -8
result
SEB Trygg Liv
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 14 15 -7 27 28 -4
income
Net 17 16 6 29 33 -12
commission
income
Net result -10 -18 4
of financial
transactions
Other 344 357 -4 692 715 -3
operating
income
Total income 365 388 -6 730 780 -6
Staff costs -142 -129 10 -281 -261 8
Other -240 -215 12 -497 -476 4
operating
costs
Depreciation -17 -15 13 -32 -29 10
Total costs -399 -359 11 -810 -766 6
Net result -5 -4 25 -8 -6 33
from
associated
companies
Operating -39 25 -88 8
result
Change in
surplus value
in life
insurance 364 -46 113 427 -74
operations
Total result 325 -21 25 435 -94
The Baltic
SEK M Q2 Q2 Change January-June January-June Change
2001 2000 per 2001 2000 per
cent cent
Net interest 291 123 137 569 244 133
income
Net commission 147 66 123 271 130 108
income
Net result of 53 35 51 124 61 103
financial
transactions
Other 27 20 35 93 33 182
operating
income
Total income 518 244 112 1 057 468 126
Staff costs -166 -75 121 -327 -147 122
Pension
compensation 1
Other
operating
costs -103 -59 75 -196 -113 73
Depreciation -84 -40 110 -168 -83 102
Total costs -353 -174 103 -690 -343 101
Net credit -37 -32 16 -115 -33
losses
Net result from 15 -100 1 33 -97
associated companies
Operating 128 53 142 253 125 102
result
Statutory Profit and Loss Account
SEK M Q2 Q2 Change January January- Change Full
2001 2000 per cent -June June per cent year
2001 2000 2000
Income
Interest 14 006 12 763 10 27 859 25 113 11 51 196
income
Interest -10 852 -9 795 11 -21 646 -19 277 12 -39 640
costs
Net 3 154 2 968 6 6 213 5 836 6 11 556
interest
income
Dividends
received(*) 1 144 839 36 1 365 857 59 877
Commission 3 314 3 542 -6 6 730 7 608 -12 15 132
income(***)
Commission -450 -402 12 -962 -828 16 -1 669
costs
Net
commission
income(1) 2 864 3 140 -9 5 768 6 780 -15 13 463
Net result of -554 573 -197 236 1 468 -84 3 544
financial
transactions
(2)(***)
Other 326 391 -17 1 315 1 536 -14 2 208
operating
income
Income from 6 934 7 911 -12 14 897 16 477 -10 31 648
banking
operations
Costs
Staff costs -3 061 -2 961 3 -5 963 -6 053 -1 -12 234
General -1 494 -1 515 -1 -3 066 -2 905 6 -5 985
administrative
costs
Depreciation and -445 -405 10 -885 -817 8 -1 703
write-downs of
tangible and
intangible fixed
assets
Other operating -604 -496 22 -1 169 -941 24 -2 360
costs
Costs from -5 604 -5 377 4 -11 083 -10 716 3 -22 282
banking
operations
Profit/loss from 1 330 2 534 -48 3 814 5 761 -34 9 366
banking
operations before
credit losses
Net credit -58 -222 -74 -207 -554 -63 -858
losses(3)
Change in value -8 -14 -43 7 40 -83 43
of seized assets
Write-down of -14 -100 -48 -17 182 -75
financial fixed
assets
Net result from 22 26 -15 24 58 -59 104
associated
companies
Operating profit 1 286 2 310 -44 3 590 5 288 -32 8 580
from banking
operations
Operating profit -61 104 -159 126 141 -11 220
from insurance
operations(4)
Operating profit 1 225 2 414 -49 3 716 5 429 -32 8 800
Pension 231 319 -28 529 490 8 943
compensation
Profit before 1 456 2 733 -47 4 245 5 919 -28 9 743
tax and minority
interests
Taxes -565 -886 -36 -1 365 -1 524 -10 -2 856
Minority interests -38 -21 81 -67 -145 -54 -245
Net profit for 853 1 826 -53 2 813 4 250 -34 6 642
the period(**)
(*) In 2001 dividend on shares in Merchant Banking's trading portfolio amounts
to SEK 1 291 M (Q2 2001: 1 098, Q2 2000: 134). 2000 included an extra
ordinary dividend of SEK 440 M.
(**) Earnings per 1,21 2,59 3,99 6,03 9,43
share, SEK
Number of 704 557 680 704 557 680 704 557 680 704 557 680 704 557 680
shares
(**) A reclassification of Ql has been done between Net commission income SEK
+60 M and Net result of financial transactions SEK -60 M
1) Net commission income
SEK M Q2 Q2 Change January January- Change Full
2001 2000 per cent -June June per cent year
2001 2000 2000
Payment 662 674 -2 1 320 1 167 13 2 424
commissions
Securities 1 524 2 008 -24 3 171 4 283 -26 8 137
commissions
Other 678 458 48 1 277 1 330 -4 2 902
commissions
Net commission 2 864 3 140 -9 5 768 6 780 -15 13 463
income
2) Net result of financial transactions
SEK M Q2 Q2 Change January January- Change Full
2001 2000 per cent -June June per cent year
2001 2000 2000
Shares / -133 -148 -10 354 272 30 -44
participations
Interest-bearing 358 104 534 294 82 413
securities
Other financial -801 391 -754 607 1 693
instruments
Realised result -576 347 134 1 173 -89 2 062
Shares / 439 -408 -160 -480 -67 -451
participations
Interest-bearing -129 -42 -100 -165 -39 105
securities
Other financial -676 421 -375 325 493
instruments
Unrealised value -366 -29 -635 -320 98 147
changes
Exchange rate 391 267 46 740 630 17 1 360
fluctuations
Redemption of -3 -12 -75 -3 -15 -80 -25
bonds
Net result of -554 573 -197 236 1 468 -84 3 544
financial
transactions
3) Net credit losses
SEK M Q2 Q2 Change January January- Change Full
2001 2000 per cent -June June per cent year
2001 2000 2000
Individually
appraised
receivables:
Reported -1 034 -738 40 -1 327 -955 39 -3 496
write-down,
incurred
losses
Reversal of 881 547 61 1 075 614 75 2 569
previous
provisions
for possible
losses, reported
as incurred
losses in
current years
accounts
Reported -280 -305 -8 -564 -731 -23 -1 552
provision
for possible
losses
Recovered 109 65 68 215 148 45 612
from losses
incurred in
previous years
Reversal of 257 122 111 379 253 50 638
previous
provisions
for possible
losses
Reported net -67 -309 -78 -222 -671 -67 -1 229
cost for
individually
appraised
receivables
Receivables
appraised by
category:
Reported -23 -24 -4 -50 -42 19 -57
write-down,
incurred losses
Reported -3 -5 -40 -8 -6 33 -8
provision for
possible losses
Recovered from 7 7 14 16 -13 24
losses incurred
in previous years
Withdrawal from
reserve for
lending losses
Reported net -19 -22 -14 -44 -32 38 -41
cost for
receivables
appraised by
category
Allocation
to/withdrawal
from
reserve for 7 121 -94 49 182 -73 363
political
risks abroad
Contingent 21 -12 10 -33 -130 49
liabilities
Net credit -58 -222 -74 -207 -554 -63 -858
losses
4) Operating profit from insurance operations
SEK M Q2 Q2 Change January- January- Change Full year
2001 2000 per cent June June per cent 2000
2001 2000
Non-life 1 81 -99 243 133 83 212
operations
Life -62 23 -117 8 8
operations
Operating
profit from
insurance
operations -61 104 -159 126 141 -11 220
Cash flow analysis
SEK M January-June 2001 Full year January-June
2000 2000
Cash flow before 2 544 10 795 18 873
changes in lending and
deposits
Increase in
lending to the public -16 308 -36 262 - 2 256
Increase in deposits
from the public 40 625 27 113 26 701
Cash flow, current 26 861 1 646 43 318
operations
Cash flow, investment -2 761 41 291 40 568
activities
Cash flow, financing -6 623 -20 630 -18 815
activities
Cash flow for the 17 477 22 307 65 071
period
Liquid funds at 46 532 24 225 24 225
beginning of year
Cash flow for the 17 477 22 307 65 071
period
Liquid funds at end 64 009 46 532 89 296
of period
Balance Sheet
SEK M 30 June 31 December 30 June
2001 2000 2000
Lending to credit institutions 166 393 164 673 195 850
Lending to the public 621 572 605 759 566 471
Interest-bearing securities 182 199 158 047 119 352
- Financial fixed assets 5 070 4 736 5 492
- Financial current assets 177 129 153 311 113 860
Shares and participations 11 982 8 688 11 508
Assets used in the insurance
operations 68 927 71 749 74 963
Other assets 136 588 113 894 131 117
Total assets 1 187 661 1 122 810 1 099 261
Liabilities to credit institutions 225 346 217 364 196 211
Deposits and borrowing from the
public 460 512 419 887 410 835
Securities issued, etc. 195 806 199 103 199 761
Liabilities of the insurance
operations 66 314 66 932 71 930
Other liabilities and provisions 167 073 146 505 149 840
Subordinated liabilities 30 902 31 410 31 915
Shareholders' equity(1) 41 708 41 609 38 769
Total liabilities and shareholders'
equity 1 187 661 1 122 810 1 099 261
1) Change in shareholders' equity
SEK M 30 June 31 December 30 June
2001 2000 2000
Opening balance 41 609 33 006 33 006
New share issue 4 067 4 067
Dividend to shareholders -2 818 -2 466 -2 466
Result, holding of own shares 21
Translation difference 104 339 -88
Net profit for the period 2 813 6 642 4 250
Closing balance 41 708 41 609 38 769
MORE TO FOLLOW
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