1st Quarter Results - Part 2
09 Mai 2001 - 9:01AM
UK Regulatory
RNS Number:2271D
Skandinaviska Enskilda Banken
4 May 2001
PART 2
Personal Banking Sweden
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 812 701 16
Net commission income 541 876 -38
Net result of financial transactions 17 16 6
Other operating income 45 5
Total income 1 415 1 598 -11
Staff costs -454 -531 -15
Pension compensation 105 73 44
Other operating costs -513 -475 8
Depreciation's -10 -11 -9
Total costs -872 -944 -8
Net credit losses -17 -39 -56
Operating result 526 615 -14
Personal Banking International
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 73 111 -34
Net commission income 409 446 -8
Net result of financial transactions 22 25 -12
Other operating income 7 12 -42
Total income 511 594 -14
Staff costs -171 -167 2
Pension compensation 3 8 -63
Other operating costs -275 -244 13
Depreciation's -15 -14 7
Total costs -458 -417 10
Net credit losses -24 -10 140
Net result from associated companies -17 -48 -65
Operating result 12 119 -90
SEB Kort
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 23 37 -38
Net commission income 293 273 7
Net result of financial transactions
Other operating income 3 7 -57
Total income 319 317 1
Staff costs -91 -84 8
Pension compensation 3 8 -63
Other operating costs -118 -107 10
Depreciation's -8 -9 -11
Total costs -214 -192 11
Net credit losses -24 -10 140
Operating result 81 115 -30
Personal Banking International excl SEB Kort
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 50 74 -32
Net commission income 116 173 -33
Net result of financial transactions 22 25 -12
Other operating income 4 5 -20
Total income 192 277 -31
Staff costs -80 -83 -4
Pension compensation
Other operating costs -157 -137 15
Depreciations -7 -5 40
Total costs -244 -225 8
Net credit losses -17 -48 -65
Operating result -69 4
SEB Germany
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 1 027 1 003 2
Net commission income 347 490 -29
Net result of financial transactions 1) 13 -11
Other operating income 276 99 179
Total income 1 663 1 581 5
Staff costs -680 -663 2
Other operating costs -447 -446
Depreciations -92 -88 5
Total costs -1 219 -1 197 2
Net credit losses -100 -310 -65
Net result from associated companies 20 50 -60
Operating result 364 124 194
Corporate & Institutions
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 1 100 1 182 -7
Net commission income 1 001 1 435 -30
Net result of financial transactions 915 706 30
Other operating income 54 41 32
Total income 3 070 3 364 -9
Staff costs -944 -1 221 -23
Pension compensation 70 46 52
Other operating costs -655 -574 14
Depreciations -50 -43 16
Total costs -1 579 -1 792 -12
Net credit losses 20 2
Operating result 1 511 1 574 -4
Merchant Banking
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 634 716 -11
Net commission income 324 318 2
Net result of financial transactions 640 381 68
Other operating income 39 24 63
Total income 1 637 1 439 14
Staff costs -488 -499 -2
Pension compensation 45 30 50
Other operating costs -281 -293 -4
Depreciations -19 -19 0
Total costs -743 -781 -5
Net credit losses 23 13 77
Operating result 917 671 37
Mid Corporate
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 466 443 5
Net commission income 72 99 -27
Net result of financial transactions 20 20 0
Other operating income 9 10 -10
Total income 567 572 -1
Staff costs -118 -107 10
Pension compensation 17 11 55
Other operating costs -125 -117 7
Depreciations -2 -2 0
Total costs -228 -215 6
Net credit losses -8 -19 -58
Operating result 331 338 -2
Enskilda Securities
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income -48 -31 55
Net commission income 422 843 -50
Net result of financial transactions 245 289 -15
Other operating income 3 3 0
Total income 622 1 104 -44
Staff costs -294 -577 -49
Other operating costs -155 -118 31
Depreciation's -28 -21 33
Total costs -477 -716 -33
Net credit losses 5 8 -38
Operating result 150 396 -62
SEB Securities Services
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 51 57 -11
Net commission income 183 175 5
Net result of financial transactions 10 16 -38
Other operating income 3 4 -25
Total income 247 252 -2
Staff costs -41 -35 17
Pension compensation 7 5 40
Other operating costs -87 -48 81
Depreciation's -1 -1 0
Total costs -122 -79 54
Operating result 125 173 -28
Investment Management & Life
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 19 14 36
Net commission income 556 554 0
Net result of financial transactions -7
Other operating income 206 204 1
Total income 774 772 0
Staff costs -274 -255 7
Pension compensation 13 8 63
Other operating costs -368 -359 3
Depreciations -24 -19 26
Total costs -653 -625 4
Net result from associated companies -3 -2 50
Operating result 118 145 -19
Change in surplus value in life insurance operations -251 473 -153
Total result -133 618 -122
SEB Invest
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 6 1
Net commission income 401 379 6
Net result of financial transactions 1 -4 -125
Other operating income 1 4 -75
Total income 409 380 8
Staff costs -135 -123 10
Pension compensation 13 8 63
Other operating costs -111 -98 13
Depreciations -9 -5 80
Total costs -242 -218 11
Net credit losses
Operating result 167 162 3
SEB Trygg Liv
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 13 13 0
Net commission income 12 17 -29
Net result of financial transactions -8 4
Other operating income 348 358 -3
Total income 365 392 -7
Staff costs -139 -132 5
Other operating costs -257 -261 -2
Depreciations -15 -14 7
Total costs -411 -407 1
0
Net result from associated companies -3 -2 50
Operating result -49 -17 188
Change in surplus value in life insurance operations -251 473 -153
Total result -300 456 -166
The Baltic & Poland
SEK M January- January- Change
March March per
2001 2000 cent
Net interest income 278 121 130
Net commission income 124 64 94
Net result of financial transactions 71 26 173
Other operating income 66 13
Total income 539 224 141
Staff costs -161 -72 124
Pension compensation 1
Other operating costs -93 -54 72
Depreciations -84 -43 95
Total costs -337 -169 99
Net credit losses -78 -1
Net result from associated companies 1 18 -94
Operating result 125 72 74
The SEB Group
Balance sheet
31 March 31 March 31 December
SEK M 2001 2000 2000
Lending to credit institutions 153 258 197 250 164 673
Lending to the public 612 967 582 512 605 759
Interest-bearing securities 167 051 133 716 158 047
- Financial fixed assets 4 988 7 705 4 736
- Financial current assets 162 063 126 011 153 311
Shares and participations 17 581 21 700 8 688
Assets used in the insurance operations 64 029 74 669 71 749
Other assets 132 059 130 706 113 894
Total assets 1 146 945 1 140 553 1 122 810
Liabilities to credit institutions 205 126 229 938 217 364
Deposits and borrowing from the public 439 591 407 093 419 887
Securities issued, etc. 200 861 205 685 199 103
Liabilities of the insurance operations 63 070 71 133 66 932
Other liabilities and provisions 164 670 155 526 146 505
Subordinated liabilities 29 882 31 682 31 410
Shareholders' equity 1) 43 745 39 496 41 609
Total liabilities and shareholders' equity 1 146 945 1 140 553 1 122 810
1) Change in shareholders' equity
31 mars 31 mars 31 december
Mkr 2001 2000 2000
Opening balance 41 609 33 006 33 006
New share issue 4 067 4 067
Dividend to shareholders -2 466
Result, holding of own shares 21
Translation difference 176 -1 339
Net profit for the period 1 960 2 424 6 642
Closing balance 43 745 39 496 41 609
The SEB Group
Problem loans and seized assets
31 March 31 March 31 December
SEK M 2001 2000 2000
Doubtful claims 16 774 15 398 16 437
Provision for possible lending losses -8 178 -7 964 -8 072
Doubtful claims, net 8 596 7 434 8 365
Claims subject to interest reduction 436 321 308
Total volume of problem loans 9 032 7 755 8 673
Level of doubtful claims 1.39 1.09 1.35
(Doubtful claims (net) in relation to
lending and leasing (net) at end of period,
per cent)
Provision ratio for doubtful claims 48.8 51.7 49,1
(Reserve for possible lending losses in
relation to doubtful claims (gross),
per cent)
Pledges taken over
Buildings and land 47 94 104
Shares and participations 114 516 109
Total volume of pledges taken over 161 610 213
The soft loans of the Group are included among claims subject to interest
reduction.
The shortfall in income due to interest deferments was SEK 1 M (SEK 2 M), while
unpaid interest on non-performing loans amounted to SEK 59 M (SEK 129 M).
On 31 March 2001, the Group had SEK 122 M (SEK 169 M) in non-performing loans in
Sweden on which interest income was reported. These loans are not included among
the problem loans, since the corresponding collateral covers both interest and
principal.
The SEB Group
Derivative contracts
31 March 2001 Contracts on the asset side Contracts on the liability side
SEK M Book value Market value Book value Market value
Interest-related 22 334 22 334 23 114 23 114
Currency-related 53 355 55 718 47 559 50 831
Equity-related 1 859 1 859 1 065 1 065
Other 5 5
Total 77 553 79 916 71 738 75 010
On 31 March 2001 the notional value of the Group's derivatives contracts
amounted to SEK 4 828 billion (SEK 3 878 billion on 31 March 2000).
The book value of derivatives instruments forming part of trading operations is
identical with the market value.
Those deviations between actual and book values which are reported in the above
table are matched by opposite deviations between market and book values in the
part of the Group's operations which is the object of hedge accounting.
The SEB Group
Cash flow analysis
SEK M January- January- Full year
March 2001 March 2000 2000
Cash flow before changes in lending and
deposits -12 020 4 502 10 795
Increase in lending to the public -7 503 -17 893 -36 262
Increase in deposits from the public 19 704 22 959 27 113
Cash flow, current operations 181 9 568 1 646
Cash flow, investment activities -2 414 38 470 41 291
Cash flow, financing activities 230 -10 657 -20 630
Cash flow for the period -2 003 37 381 22 307
Liquid funds at beginning of year 46 532 24 225 24 225
Cash flow for the period -2 003 37 381 22 307
Liquid funds at end of period 44 529 61 606 46 532
The SEB Group
Statutory Profit and Loss Account
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Income
Interest income 13 853 12 350 12 51 196
Interest costs -10 794 -9 482 14 -39 640
Net interest income 3 059 2 868 7 11 556
Dividends received *) 221 18 877
Commission income 3 356 4 066 -17 15 132
Commission costs -512 -426 20 -1 669
Net commission income 1) 2 844 3 640 -22 13 463
Net result of financial transactions 2) 850 895 -5 3 544
Other operating income 989 1 145 -14 2 208
Income from banking operations 7 963 8 566 -7 31 648
Costs
Staff costs -2 902 -3 092 -6 -12 234
General administrative costs -1 572 -1 390 13 -5 985
Depreciation and write-downs of
tangible and intangible fixed assets -440 -412 7 -1 703
Other operating costs -565 -445 27 -2 360
Costs from banking operations -5 479 -5 339 3 -22 282
Profit/loss from banking operations
before credit losses 2 484 3 227 -23 9 366
Net credit losses 3) -149 -332 -55 -858
Change in value of seized assets 15 54 -72 43
Write-down of financial fixed assets -48 -3 -75
Net result from associated companies 2 32 -94 104
Operating profit from banking operations 2 304 2 978 -23 8 580
Operating profit from insurance
operations 4) 187 37 220
Operating profit 2 491 3 015 -17 8 800
Pension compensation 298 171 74 943
Taxes -800 -638 25 -2 856
Minority interests -29 -124 -77 -245
Net profit for the period **) 1 960 2 424 -19 6 642
*) In 2001 dividend on shares in trading portfolio amounts to SEK 193 M. In 2000
SEK 134 M was reported in second quarter
**) Earnings per share, SEK 2.78 3.44 9.43
Number of shares 704 557 680 704 557 680 704 557 680
1) Net commission income
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Payment commissions 658 493 33 2 424
Securities commissions 1 647 1 968 -16 8 137
Other commissions 539 1 179 -54 2 902
Total 2 844 3 640 -22 13 463
2) Net result of financial transactions
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Shares/participations 487 420 16 - 44
Interest-bearing securities 176 190 -7 413
Other financial instruments 47 216 -78 1 693
Realised result 710 826 -14 2 062
Shares/participations -599 -72 -451
Interest-bearing securities 26 -123 -121 105
Other financial instruments 361 -96 0 493
Unrealised value changes -212 -291 -27 147
Subtotal 498 535 -7 2 209
Exchange rate fluctuations 352 363 -3 1 360
Redemption of bonds -3 -100 -25
Total 850 895 -5 3 544
3) Net credit losses
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
A. Individually appraised receivables:
Reported write-down,
incurred losses -293 -217 35 -3 496
Reversal of previous provisions
for possible losses, reported
as incurred losses in current
years accounts 194 67 190 2 569
Reported provision for
possible losses -284 -426 -33 -1 552
Recovered from losses incurred
in previous years 106 83 28 612
Reversal of previous provisions
for possible losses 122 131 -7 638
Reported net cost for individually
appraised receivables -155 -362 -57 -1 229
B. Receivables appraised by category:
Reported write-down, incurred losses - 27 - 18 50 - 57
Reported provision for possible losses - 5 - 1 - 8
Recovered from losses incurred
in previous years 7 9 -22 24
Withdrawal from reserve for
lending losses
Reported net cost for receivables
appraised by category - 25 - 10 150 - 41
C. Allocation to/withdrawal from
reserve for political risks abroad 42 61 -31 363
D. Contingent liabilities - 11 - 21 -48 49
Total - 149 - 332 -55 - 858
4) Operating profit from insurance operations
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Non-life operations 242 52 212
Life operations - 55 - 15 8
Total 187 37 220
Skandinaviska Enskilda Banken
Profit and Loss Account
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Income
Interest income 7 240 6 066 19 27 250
Leasing income 147 110 34 459
Interest costs -6 203 -4 922 26 -22 879
Net interest income 1)
Dividends received *) 228 22 2 157
Commission income 1 371 1 874 -27 6 958
Commission costs - 191 - 256 -25 -1 000
Net commission income 2) 1 180 1 618 -27 5 958
Net result of financial transactions 3) 561 373 50 2 298
Other operating income 774 838 -8 1 990
Total income 3 927 4 105 -4 17 233
Costs
Staff costs -1 278 -1 544 -17 -6 470
Other administrative expenses -1 189 - 924 29 -3 985
Depreciation and write-downs of
tangible and intangible fixed assets - 76 - 75 1 - 317
Other operating costs - 340 - 235 45 -1 282
Total costs -2 883 -2 778 4 -12 054
Profit/loss before credit losses 1 044 1 327 -21 5 179
Net credit losses 4) 32 31 3 144
Change in value of seized assets - 8
Write-down of financial fixed assets - 658
Operating profit 1 076 1 358 -21 4 657
Pension provision 288 171 68 943
Other appropriations**) - 561 - 539 4 -2 307
Taxes *) - 183 - 162 13 - 472
Net profit for the period 620 828 -25 2 821
*) In 2001 dividend on shares in trading portfolio amounts to SEK 193 M. In 2000
SEK 134 M was reported in second quarter.
**) Group contributions reported directly against equity
1) Net interest income
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Interest income 7 240 6 066 19 27 250
Leasing income 147 110 34 459
Interest costs -6 203 -4 922 26 -22 879
Leasing depreciation - 44 - 33 33 - 148
Total 1 140 1 221 -7 4 682
2) Net commission income
SEK M January- January- Change Full year
March 2001 March 2000 per cent 2000
Payment commissions 190 356 -47 1 416
Securities commissions 767 1 009 -24 3 580
Other commissions 223 253 -12 962
Total 1 180 1 618 -27 5 958
3) Net result of financial
transactions
January- January- Change Full year
SEK M March 2001 March 2000 per cent 2000
Shares/participations 65
Interest-bearing securities 181 74 145 394
Other financial instruments 65 186 -65 725
Realised result 246 260 -5 1 184
Shares/participations -4 -106 -96 -15
Interest-bearing securities -9 -77 -88 -199
Other financial instruments 43 -4 211
Unrealised value changes 30 -187 -116 -3
Exchange rate fluctuations 285 300 -5 1 117
Total 561 373 50 2 298
4) Net credit losses
January- January- Change Full year
SEK M March 2001 March 2000 per cent 2000
A. Individually appraised
receivables
Reported write-down, incurred
losses -48 -42 14 -1 420
Reversal of previous provisions
for possible losses reported
as incurred losses in current
period's accounts 34 34 1 295
Reported provision for possible
losses -72 -138 -48 -520
Recovered from losses incurred
in previous years 53 36 47 372
Reversal of previous provisions
for possible losses 23 83 -72 164
Reported net cost for individually
appraised receivables -10 -27 -63 -109
B. Receivables appraised by category
Reported write-down, incurred losses -8 -100 -52
Reported provision for possible
losses -4
Recovered from losses incurred in
previous years 6 -100 22
Withdrawal from provision for lending
losses
Reported net cost for receivables
appraised by category - 2 -100 -34
C. Allocation to/withdrawal from
reserve for political risks abroad 42 60 -30 279
D. Contingent liabilities 8
Total 32 31 3 144
Skandinaviska Enskilda Banken
Cash flow analysis
January- January- Full year
SEK M March 2001 March 2000 2000
Cash flow before changes in lending
and deposits -22 945 2 028 7 813
Increase in lending to the public 7 121 -15 681 -31 782
Increase in deposits from the public 13 235 24 188 15 923
Cash flow, current operations -2 589 10 535 -8 046
Cash flow, investment activities -167 -17 325 -19 546
Cash flow, financing activities -4 372 -1 270 -3 598
Cash flow for the period -7 128 -8 060 -31 190
Liquid funds at beginning of year 45 261 76 451 76 451
Cash flow for the period -7 128 -8 060 -31 190
Liquid funds at end of period 38 133 68 391 45 261
Balance sheet
31 March 31 March 31 December
SEK M 2001 2000 2000
Lending to credit institutions 171 147 206 083 184 849
Lending to the public 213 393 204 981 220 493
Interest-bearing securities 132 439 91 832 118 418
-Financial fixed assets 3 567 2 449 2 962
-Financial current assets 128 872 89 383 115 456
Shares and participations 55 319 58 112 44 485
Other assets 108 221 98 957 94 112
Total assets 680 519 659 965 662 357
Liabilities to credit institutions 190 296 183 273 198 618
Deposits and borrowing from the public 247 885 242 915 234 650
Securities issued, etc. 49 762 51 443 52 518
Other liabilities and provisions 136 777 125 715 120 194
Subordinated liabilities 26 591 29 144 28 207
Shareholders' equity (1) 29 208 27 475 28 170
Total liabilities and shareholders' equity 680 519 659 965 662 357
1) Change in shareholders' equity
31 mars 31 mars 31 december
SEK M 2001 2000 2000
Opening balance 28 170 22 294 22 294
New share issue 4 067 4 067
Dividend to shareholders -2 466
Group contributions, net 416 287 1 436
Result, holding of own shares 21
Translation difference 2 -1 -3
Net profit for the period 620 828 2 821
Closing balance 29 208 27 475 28 170
The SEB Group Internal
trans-
Statutory Profit and Loss Account January- SEB actions
March Trygg bank- Reclassi-
SEK M 2001 Liv insurance fication
Net interest income 3 059 11
Dividends received 221 -221
Net commission income 2 844 89
Net result of financial transactions 850 -8 193
Other operating income 989 347 -209 28
Income from banking operations 7 963 350 -120 0
Staff costs -2 902 -137 3
298
General administrative costs -1 572 -194 1 391
Depreciation and write-downs of
tangible and intangible fixed assets -440 -15
Other operating costs -565 -55 117 -1 391
Costs from banking operations -5 479 -401 120 298
Profit/loss from banking operations
before credit losses 2 484
Net credit losses -149 -48
Change in value of seized assets 15
Write-down of financial fixed assets -48 48
Net result from associated companies 2 -3
Operating profit from banking
operations 2 304
Operating profit from insurance
operations 187 54
Operating profit 2 491 0 0 298
-251
Pension compensation 298 -298
Taxes -800
70
Minority interests -29
Net profit for the period 1 960 0 0 -181
Statutory Profit and Loss Account Operational Profit and Loss Account
January-
SEK M March
2001 SEK M
Net interest income 3 070 Net interest income
Dividends received
Net commission income 2 933 Net commission
Net result of financial transactions 1 035 Net result of financial
transactions
Other operating income 1 155 Other operating income
Income from banking operations 8 193 Total income
Staff costs -3 036 Staff costs
298 Pension compensation
General administrative costs
Depreciation and write-downs of
tangible and intangible fixed assets -455 Depreciations
Other operating costs -2 269 Other operating costs
Costs from banking operations -5 462 Total costs
Profit/loss from banking operations
before credit losses
Net credit losses -182 Net credit losses etc
Change in value of seized assets
Write-down of financial fixed assets
Net result from associated companies -1 Net result from
associated companies
Operating profit from banking
operations
Operating profit from insurance 241 Operating profit from
operations non-life insurance
operations
Operating profit 2 789 Operating result
-251 Change in surplus value
in life insurance
operations
2 538 Total result
Pension compensation
Taxes -800 Taxes
70 Taxes on change in
surplus values
Minority interests -29 Minority interests
Net profit for the period 1 779 Total result after tax
MORE TO FOLLOW
QRFUWRARAKRVRAR
Solar12-1 3.61% (LSE:16LO)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Solar12-1 3.61% (LSE:16LO)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Solar12-1 3.61% (London Stock Exchange): 0 recent articles
Plus d'articles sur Skandinaviska