3. SEB – the key to
North-European markets
SEB has…
an attractive platform
high customer satisfaction
stable profit growth
several leading positions
...a strong customer base
2,500 customers are large
companies and financial institutions
400,000 SME customers
5 million private customers
3
4. SEB's organisation
President & CEO
Annika Falkengren
Group Credits & Internal Audit
Group Risk Control
Johan Andersson Agneta Brevenhag
Merchant Banking Retail Banking Wealth Life
Management
Magnus Carlsson Bo Magnusson Anders Mossberg
Fredrik Boheman
Business Support/Group Staff
Jan Erik Back / Ingrid Engström / Hans Larsson
4
5. Share of operating profit
Jan – Jun 2008
Wealth Merchant
Germany Life
Management
Sweden Banking
10%
14%
13%
Lithuania 12%
42%
48%
Latvia 6%
35%
2%
5%
Estonia 5% 8%
Finland
Denmark
Retail Banking
Norway
Geography - Adjusted for Other
Divisions - Adjusted for Other
5
6. Ratings of
Skandinaviska Enskilda Banken AB
Rating target set by SEB Board at AA
Moody’s S&P Fitch DBRS
Bank Senior Rating
Short Term P-1 A-1 F-1 R-1
(middle)
Long Term Aa2 A+ A+ AA (low)
Outlook Positive Stable Stable Stable
Last Action Outlook change Upgrade Outlook change Initial
rating
Date Jul-07 Oct-06 Jul-08 Dec-06
6
8. Profit and loss account
Q2 2008 vs. Q2 2007
SEKm Q2 Q2 Change Excluding
2008 2007 % portfolios
Net interest income 4,421 3,939 12
Net fee and commissions 3,909 4,544 -14
Net financial income 1,161 1,345 -14
Net life insurance income 642 642 -
Net other income 270 249 8
Total operating income 10,403 10,719 -3 -2%
Staff costs -3,993 -3,774 6
Other expenses -2,098 -1,768 19
Depreciation of assets -354 -342 4
Total operating expenses -6,445 -5,884 10
Gain/loss tangible/intangible assets 1 -1
Net credit losses etc -452 -280 61
Operating profit 3,507 4,554 -23 -22%
Net profit 2,809 3,522 -20
8
9. Profit and loss account
Q2 2008 vs. Q1 2008
SEKm Q2 Q1 Change Excluding
2008 2008 % portfolios
Net interest income 4,421 4,223 5
Net fee and commissions 3,909 3,801 3
Net financial income 1,161 -161 -
Net life insurance income 642 713 -10
Net other income 270 226 19
Total operating income 10,403 8,802 18 9%
Staff costs -3,993 -3,899 2
Other expenses -2,098 -1,756 19
Depreciation of assets -354 -372 -5
Total operating expenses -6,445 -6,027 7
Gain/loss tangible/intangible assets 1 3 -67
Net credit losses etc -452 -368 23
Operating profit 3,507 2,410 46 12%
Net profit 2,809 1,848 52 8%
9
10. Profit and loss account
Jan – Jun 2008 vs. Jan – Jun 2007
SEKm Jan – Jun Jan – Jun Change Excluding Jan – Dec
2008 2007 % portfolios 2007
Net interest income 8,644 7,706 12 15,998
Net fee and commissions 7,710 8,821 -13 17,051
Net financial income 1,000 2,656 -62 3,239
Net life insurance income 1,355 1,385 -2 2,933
Net other income 496 344 44 1,219
Total operating income 19,205 20,912 -8 -8 40,440
Staff costs -7,892 -7,570 4 -14,921
Other expenses -3,854 -3,446 12 -6,919
Depreciations/amortisations -726 -670 8 -1,354
Total operating expenses -12,472 -11,686 7 -23,194
Gain/loss
tangible/intangible assets 4 -1 788
Net credit losses etc -820 -514 60 -1,016
Operating profit 5,917 8,711 -32 -31 17,018
Net Profit 4,657 6,784 -31 -30 13,642
10
12. Net interest income analysis
SEB Group Q2 2008 vs. Q2 2007
SEKm
242
72
49
132
-13
4,421
3,939
Q2 2007 Lending Lending Deposit Deposit Funding & Q2 2008
margin volume margin volume other
12
13. Net interest income analysis
SEB Group Q2 2008 vs. Q1 2008
SEKm
128
15
13
77
-35
4,421
4,223
Q1 2008 Lending Lending Deposit Deposit Funding & Q2 2008
margin volume margin volume other
13
14. Net interest income analysis
SEB Group Jan – Jun 2008 vs. Jan – Jun 2007
SEKm
258
218
127
483
8,644
-148
7,706
Jan – Jun Lending Lending Deposit Deposit Funding & Jan – Jun
2007 margin volume margin volume other 2008
14
15. Net interest and Net fee and
commission income
SEB Group, SEKm
5,000
4,000
3,000
2,000
1,000
0
Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2-
04 04 04 04 05 05 05 05 06 06 06 06 07 07 07 07 08 08
Net interest income Net fee and commissions
15
16. Fee and commission income
Gross quarterly development Q1 2004 – Q2 2008 SEB Group, SEKm
Capital market driven
Value driven –
2,500
performance
Non-capital
driven
market driven
2,000 Securities
transaction
driven *
1,500
1,000 Deal
driven
500
0
New issues & Secondary Custody & Payment, cards, Other
advisory market & mutual funds structured
derivatives lending,
deposits,
* Q2 2006 adjusted for gross
commission on security lending, guarantees
SEK 200m
16
17. Net financial, Life and Other
insurance income
Quarterly development Q1 2004 – Q2 2008 SEB Group, SEKm
1,600
1,400
1,200
1,000
800
600
400
200
0
Net financial income Net life insurance income Net other income
-200
-400
17
18. Cost development per quarter
Quarterly development Q1 2004 – Q2 2008* SEB Group, SEKm
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000 **
500
0
Staff costs Other expenses Restructuring costs
* Include capitalisation of acquisition cost in Life from Q1 2005 – onwards
** One-off charges of SEK 890m in Q4 2005
18
19. Cost management
Total expenses, Jan – Jun 2008 vs. Jan – Jun 2007
SEK 748m
SEKm from the start
of 2007
56
840
39
493 440 202
12,635 12,472
11,686
Organic* Depreciation
Jan-June Inflation Variable Cost before Efficiency Redundancy Jan-June
2007 growth + salaries efficiency gains cost 2008
Acq gains
* • Investments for operational excellence of SEK 370m included
• Organic growth of SEK 362m
• Acquisitions of KAM, Factorial of SEK 108m
19
20. Return on equity
SEB Group, per cent
Excluding portfolios
21.1 Return on Equity
20.8
19.3
15.8 * 15.5
14.7
13.2 15.2
9.6
2004 2005 2006 2007 Q1 2008 Q2 2008
* 17.0 excluding one-off charges of SEK 890m in Q4 2005
20
21. Cost/income ratio
SEB Group
C/I ratio Excluding portfolio losses
0.69
0.65 *
0.65
0.62
0.58 0.57
0.62 0.62
0.55
2004 2005 2006 2007 Q1 2008 Q2 2008
* 0.62 excluding one-off charges of SEK 890m in Q4 2005
21
24. Assets under management
SEB Group, SEKbn
Assets under management year-end 2007 1,370
Inflow 141 (10%)
Outflow -121 (-9%)
Acquisition/disposal net 17
Change in value -112 (-8%)
Assets under management June 2008 1,295 *
* Of which:
Retail Banking 87
Wealth Management 1,217
Life 408
24
25. SEB Group net inflow AuM
Jan – June 2008, SEKbn
0.4
0.6
5.6
20.0
-3.1
16.5
Sweden Other Germany Baltic Other & Group
Nordic countries Elim
& Poland
25
26. Balance sheet
Jun 2008 Mar 2008 Jun 2007
Cash and balances with central banks 27,557 17,728 26,063
Loans to credit institutions 219,111 308,822 224,899
Loans to the public 1,132,374 1,098,597 1,047,546
Financial assets at fair value 597,723 694,111 682,881
Available-for-sale financial assets 247,245 196,848 134,115
Held-to-maturity investments 2,266 1,868 2,051
Investment in associates 1,361 1,314 1,122
Tangible and intangible assets 26,177 25,452 23,076
Other assets 50,335 53,823 45,955
Total assets 2,304,149 2,398,563 2,187,708
Deposits by credit institutions 397,601 455,707 413,283
Deposits and borrowings from the public 757,904 764,567 715,037
Liabilities to policyholders 211,938 213,046 218,958
Debt securities 506,564 499,622 454,651
Financial liabilities at fair value 229,285 256,961 198,920
Other liabilities 83,129 87,273 75,717
Provisions 1,265 1,338 1,747
Subordinated liabilities 41,664 42,990 39,094
Total equity 74,799 77,059 70,301
Total liabilities and equity 2,304,149 2,398,563 2,187,708
26
27. Relationship Deposits from and
Lending to the public 2001 – 2008
Deposits to loans ratio
100%
90%
80%
70%
60%
50%
40%
30%
2001 2002 2003 2004 2005 2006 2007 Q2
2008
27
28. Funding structure
SEB Group, June 2008
SEK 1,605bn
Mortgage covered
Schuldscheins and bonds, Sweden
Reg Bonds CPs/CDs 9%
3% 9% Mortgage covered
bonds, Germany
2%
Deposits – General Public covered
Public bonds, Germany
42% 8%
Senior debt
4%
Subordinated debt
3%
Deposits –
Interbank
20%
* Over collateral within covered pools SEK 78bn
28
29. Net liquidity position across maturities
30 June, SEKbn
250,000
SEB is match-
funded approx.
200,000
one year
150,000
100,000
50,000
0
1 week
2 weeks
4 weeks
2 months
3 months
4 months
5 months
6 months
9 months
12 months
-50,000
29
30. Capital adequacy
SEB Group
Core capital ratio, % Total capital ratio, %
Basel II
Basel I
11.5
11.0
10.8 10.8
10.5 9.6%
10.3
10.2
Basel I
8.6
8.6
8.2
8.0
7.9 7.8 7.5 7.7%
Dec Dec Dec Dec Dec Dec Jun
2002 2003 2004 2005 2006 2007 2008
SEKbn
Capital base 52.7 54.7 58.7 76.2 85.8 93.0 93.8
Basel I
Risk-w. Assets 503 535 570 704 741 842 871
972
30
39. Credit losses and
build up of reserves
SEKm
Sum Average/ Jan – Jun Jan – Jun Change
8 quarters quarter 2007 2008
Net credit losses, quarterly 2006 – 2008
Provisions
Net collective provisions -368 -46 - 334 -101 233
Specific provisions -1,832 -229 - 322 -599 -278
Reversals of specific
provisions no longer required 835 104 162 123 -39
Net provisions for contingent liabilities 22 3 24 3 -21
Net provisions (build-up of reserve) -1,344 -168 - 470 -574 -104
Write-offs
Total write-offs -2,835 -354 - 483 -699 -179
Reversal of specific provisions
utilized for write-offs 1,509 189 255 418 126
Write-offs not previously provided for -1,326 -166 - 228 -281 -53
Recovered from previous write-offs 479 60 178 43 -135
Net write-offs -847 -106 -50 -238 -188
Total credit losses net -2,191 -274 -520 -812 -292
39
40. Credit losses and build up of
reserves quarterly development
SEKm
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Net credit losses, quarterly 2006 2006 2007 2007 2007 2007 2008 2008
Provisions
Net collective provisions -89 212 -114 -220 -71 15 -112 11
Specific provisions --124 -455 -245 -77 -100 -231 -190 -409
Reversals of specific provisions
no longer required 133 173 75 87 80 163 44 79
Net provisions for contingent liabilities 1 10 31 -7 8 -24 1 2
Net provisions (build-up of reserve) -80 -60 -253 -217 -83 -77 -257 -317
Write-offs
Total write-offs -334 -444 -243 -240 -350 -562 -332 -367
Reversal of specific provisions
utilized for write-offs 196 221 124 131 214 242 201 217
Write-offs not previously provided for -138 -223 -119 -109 -136 -320 -131 -150
Recovered from previous write-offs 81 62 135 43 30 85 24 19
Net write-offs -57 -161 16 -66 -106 -235 -107 -131
Total credit losses net -137 -221 -237 -283 -189 -312 -364 -448
40
42. SEB Bond Portfolio*
30 June, 2008, SEKbn
ABS
18%
Cover pool
24%
Merchant Banking 193
Group Treasury 135
Other divisions 10 Corp,
Financials
Gov't etc
27%
10%
Total 338
Covered
bonds
21%
*Net of short and fully matched positions;
excluding holdings in the insurance business
42
46. Bond investment portfolio – strategy
Limit P/L volatility by increasing AFS portfolios and reducing HFT portfolios
Reduce subprime holdings, primarily in the HFT portfolio
Reduce the credit spread risk through partial hedging (ITRAXX)
Held for trading Available for sale
SEK bn
(MTM over income) (MTM over equity)
Q1 08 Q2 08
Q4 07
51 49
43
41
30 29 26 29
26
20
10
11 11
5
4
3 1
0
Structured Financial Covered Structured Financial Covered Structured Financial Covered
credits institutions bonds etc. credits institutions bonds etc. credits institutions bonds etc.
46
47. Distribution of Investment portfolio
30 June, 2008
Structured credits Financial institutions
SEK 61bn SEK 53bn
Direct and
indirect
RMBS
exposure DE 3%
36% IT 6% SE 3%
FI 1%
NL 7%
Other 9%
Sub
prime 3%
FR 14%
ABS
17%
CMO US 25%
13%
ES 19%
CDO 7%
CMBS
UK 13%
7% CLO
17%
47
48. Main characteristics of structured
credits portfolio (ABS portfolio)
30 June, 2008 (31 December, 2007)
A high quality investment portfolio initiated 1998 with fixed
income securities eligible as central bank collateral
Total volume SEK 61bn (71) - # of positions 695 (740)
97.2% of the portfolio is rated Aaa/AAA
– 23 rating actions in our tranches since summer 2007
(H1 08: #20) by Moody’s and Standard & Poor’s
– Well diversified across products, asset classes and
geographies
– Cash-flow based – only one synthetic transaction ($10.5m)
Mark-to-market prices applied to all 695 positions
– No level 3 assets
Current average remaining maturity ~4 years.
Current annual amortisation rate is SEK ~10bn
48
49. Please note:
A restatement of the divisional financial reporting has
been carried out in conjunction with the Q1 2008
report as previously announced.
Please consult www.sebgroup.com for more
information.
Divisions
49
50. Operating profit per division
Jan – Jun 2008 vs. Jan – Jun 2007 Excl.
SEKm portfolio
ROE
Change
losses
vs. Jan-Jun 2007 Jan-Jun 2008
Merchant
-31% (-8%) 15.6% (20.7%)
Banking
-17% 14.7%
Retail Banking
Wealth -32% 20.2%
Jan-Jun 2008
Management
Jan-Jun 2007
-18% 15.9%
Life
0 1,000 2,000 3,000 4,000
50
54. Summary per division
Jan – Jun 2008
Merchant Retail Wealth
Banking Banking Management Life Other Group
Operating profit, SEKm 2,934 2,432 926 676 -1051 5,917
Business equity, SEKbn 27.0 25.3 ** 6.6 7.5 75.2 *
Return on equity, % 15.6 14.7 20.2 15.9 12.4
Cost / income ratio 0.57 0.62 0.59 0.63 0.65
RWA, SEKbn, Basel II 423 372 37 39 871
RWA, SEKbn, Basel I 488 414 23 47 972
Tax Rate 28% 23% 28% 12%
* Average shareholders' equity
** Where of Sweden 7.4bn Estonia 3.3bn, Latvia 3.1bn, Lithuania 4.4bn, Germany 4.5bn and Cards 2.6bn.
54
55. RoE and Cost/Income ratio per division
Return on Equity per division, per cent
50
40
30
20
10
0
Merchant Retail Banking Wealth Life* Group
Banking Management
Jan- Jun 2007 Jan- Jun 2008
Cost/income ratio per division
1.00
0.80
0.60
0.40
0.20
0.00
Merchant Retail Banking Wealth Life Group
Banking Management
Jan- Jun 2007 Jan- Jun 2008
* Based on operating profit
55
56. Merchant Banking
Highlights
Magnus Carlsson
Head of
Strong customer revenues despite
Merchant Banking
financial turmoil
Second quarter income in excess of
Jan – Jun 2008 Δ 2007
SEKm SEK 4bn
Total income 6,945 -18% Stable development of underlying
costs
Interest, net 3,063 13%
Commission, net 2,711 -16%
Opportunities from demand for
Financial, net 1,055 -55% credit and improved risk pricing
Total expenses -3,958 -2% Top rankings in equities, M&A
advisory, cash management and
Credit losses, net -56 -75%
custody
Operating profit 2,934 -31%
RoE, % 15.6 23.0
C/I 0.57 0.48
56
58. Share of income and result by area
Jan – Jun 2008, per cent of total
Income Operating profit
Global transaction Trading and Global transaction Trading and
services Capital Markets services Capital Markets
21% 19%
48%
29% 52%
31%
Corporate Corporate
Banking Banking
58
60. Developing products to meet
customer needs
Trading and Capital Markets income
by main product cluster, excl.
investment portfolios ● Focus on customer flows
ensures continued strong
5%
11%
8% 7%
revenues
11%
3% 8%
15% 4%
22%
● Increased profits in FX
6%
46% ● Strong revenues and
49%
64% 49%
46% increased market share in
44%
Equities
● Lower profits in fixed
38% 36%
41%
28% 33%
26% income related units due to
ongoing uncertainty in
credit markets
Q1 - Q2 Q3 Q4 Q1 - Q2
07 08
Equities FX
Capital Markets Structured Derivatives and other TCM
60
63. Custody volume development
Assets under custody, SEKbn No of transactions/day
7,000 160,000
140,000
6,000
120,000
5,000
100,000
4,000
80,000
3,000
60,000
2,000
40,000
1,000 20,000
0
0
2004 2005 2006 2007 2008
63
64. Merchant Banking
Investment banking rankings
Market Shares Nordic Stock Exchanges * Nordic M&A**
H1 2008 H1 2008 (EURm)
SEB 8,9% 9 Deals
Credit Suisse 10,008
Morgan
5.6% 20 Deals
SEB 8 462
Stanley
Carnegie 5.4% 7 Deals
UBS 6,663
Morgan
Glitnir 5.2% 4 Deals 6,418
Stanley
Lenner Corp.
SHB 4.7% 5 Deals 6 197
Fin.
*Source: The Nordic Stock exchanges
**Rank based on completed deals. All Nordic involvement. Source: Thomson Financial
64
65. Merchant Banking
Syndicated loans, 12-months rolling
Swedish syndicated loans league Nordic syndicated loans league
(and bookrunner %) (and bookrunner %)
Jul 2007 – Jun 2008 Jul 2007 – Jun 2008
EUR
EUR 0 4 8 12 16
0 2 4
bn
bn
17.9%
Nordea
17.6%
SEB
6,3%
DnB NOR
12.4%
SHB
6,0%
Citi
5.6%
Calyon
4,7%
SEB
3.5%
RBS
3.8%
3.0% RBS
ABN AMRO
Source: Dealogic Analytics
65
66. Merchant Banking– Recent rankings
Best for Cash Management in Nordic & Baltic region
July 2008
Euromoney Best Equities House in Nordic & Baltic region
Best M&A House in the Nordic & Baltic region
Risk Magazine July 2008 Best derivatives dealer in Sweden
Thomson Rueters
June 2008 Best research house in the Nordic countries
Extel
Global Finance July 2008 Best sub-custodian in the Nordic region
April 2008 World’s Best Developed Market Banks 2008 (No. 1 in Sweden); World’s Best Emerging
Market Banks 2008 (no. 1 in Latvia and Lithuania)
Söderberg &
February 2008 Best Arranger Structured Products, Sweden
Partners
Euroweek February 2008 Best Arranger Nordic Loans, Syndicated Loans and Leveraged Finance Awards 2007
Prospera January 2008 No.1 stockbroker in the Nordic region
Global Finance Best Bank for Cash, Liquidity and Risk Management, Nordic Region
January 2008 Best Trade Finance bank, Nordic Region, Sweden and Lithuania
Best Foreign Exchange Bank and Provider in the Nordic countries and Lithuania
TMI Best bank for Cash Management, Nordic Region
January 2008
Best Bank for supply Chain Finance, Nordic Region
FX Week January 2008 Best bank for international currency forecasts in 2007
Global Custodian November 2007 Top rated in Central and Eastern Europe (2007 Emerging Markets Agent Bank Review)
October 2007 Top rated in all four Nordic markets (2007 Major Market Agent Bank Review )
Euromoney No. 1 for Overall Customer Satisfaction in Europe (No.2 globally)
October 2007 No. 1 Globally in level of commitment to Cash Management Business
No. 9 Globally in market share for International Cash Management
Euromoney Best at commercial real estate banking, Nordic and Baltic region
September 2007
Best at commercial real estate investment banking, Nordic and Baltic region
Prospera September 2007 No.1 for corporate finance in the Nordic region
66
67. Retail Banking
Highlights
Bo Magnusson
Head of
Continued strong income, in particular
Retail Banking
net interest income (NII)
– NII +9% vs. 2007 offsets lower
security related fees - income +3%
Jan – Jun 2008 Δ 2007
SEKm – Q2 strongest quarter in terms of NII,
2nd strongest in terms of total income
Total income 8,310 3%
Interest, net 5,144 9% Baltic cost growth affected by sale of
real estate, inflation and 2007 sales
Commission, net 2,861 -7%
expansion; higher pension cost in
Sweden
Total expenses -5,127 6%
Credit losses, net -751 165% Profit before credit losses stable
Operating profit 2,432 -17%
Decrease in operating profit due to
higher credit losses, mainly driven by
RoE, % 14.7 18.3
increased provisions in Estonia
C/I 0.62 0.60
67
69. Share of income and result by area
Jan – Jun 2008, per cent of total
Income Operating profit
Cards Cards
Sweden
Sweden
16%
15%
Lithuania
38%
12% Lithuania 47%
Latvia 23%
8%
8% 9% 2%
19% 3%
Estonia Latvia
Germany
Estonia Germany
69
70. Business volume development by area
SEKbn Q2 2008 change vs. Q2 2007 (local currency)
Other lending Deposits
Mortgages
60 149 7%
Sweden 235 12% 14%
22 46
Germany 10%
61 0% 5%
22
29
Estonia 4%
15 12% 7%
18
26 1%
Latvia 10 7% 2%
28
51 5%
Lithuania 14 49% 21%
Note: Figures for Estonia, Latvia and Lithuania include SEB:s large corporate business volumes
70
71. Deposit breakdown Transaction account private
Percent of total deposits Transaction account corporate & public
13%
25%
41%21%
Savings account private
Savings account corporate & public
Retail Total Sweden Germany
2%
9% 9%
17%
26%
38%
56%
22%
43%
52%
22%
4%
Estonia Latvia Lithuania
6%
17%
20% 20% 22% 26%
33%
20% 27%
34%
40% 35%
71
72. Development of lending market SEB
Swedbank
shares – Baltics DnB Nord
Parex Banka
Per cent, Dec 2004 – May 2008 Sampo
Nordea
Estonia* Latvia Lithuania
50% 50%
50%
40% 40%
40%
30% 30%
30%
20% 20% 20%
10% 10% 10%
0% 0% 0%
* Swedbank & Sampo as per Q1 2008
72
73. Retail Sweden
Δ 2007
SEKm Jan – Jun 2008 Highlights
Total income 3,112 2% Solid net interest income growth, Q2
strongest quarter to date (+5% vs. Q1)
Interest, net 2,220 10%
– Mortgages: volume growth,
Commission, net 757 -14%
stable margins
– Deposits: volume growth,
Total expenses -1,950 5%
increased margins
Credit losses, net -33 -26%
Decreased commission income due to
Operating profit 1,129 -2%
brokerage and structured products
RoE, % 22.0 23.0 Insurance sales +30% vs. first half 2007
C/I 0.63 0.61
Strong SME growth: 5,200 new SME
customers (3,500 first half 2007)
Total lending 302,800 +15%
Total deposits 149,100 +7% Cost affected by higher pension cost
73
79. Retail Germany
Δ 2007 Highlights
SEKm Jan – Jun 2008
Total income 1,613 -4% Reduced profitability due to lower
customer activity within securities-
Interest, net 949 1%
related-areas
Commission, net 647 -11%
Higher sales of insurance (+8%),
Total expenses -1,489 -1% mortgages (+40%) and consumer
lending (+11%) vs. 2007
Credit losses, net -50 6%
Operating profit 74 -46% Successful campaign for custody
account attracting 8,800 new accounts
RoE, % 2.6 5.1 Stable cost level
C/I 0.92 0.89
Total lending 82,300 +1%
Total deposits 47,300 +3%
79
80. Business volume development
Retail Germany, EURbn
Other lending
Mortgages* Deposits
8 8 8
7 7 7
6 6 6
5 5 5
4 4 4
3
3 3
2
2 2
1
1 1
0
0 0
Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08
05 06 07 08 05 06 07 08
Figures above present Mortgage, lending and deposits from private individuals and SME
* Effected by amortizations on large historical sales volumes, partly sold through external sales organizations
80
82. Retail Estonia
Δ 2007
SEKm Jan – Jun 2008 Highlights
Lower business activity than
Total income 692 10%
precedent quarters
Interest, net 435 3%
Higher loan losses due to credit
Commission, net 176 2%
provisions
Strong focus on credit quality,
Total expenses -284 26%
including increase of loans overdue
Credit losses, net -368 -
Increased savings focus - new mutual
Operating profit 40 -89%
funds launched
Cost increase affected by real estate
RoE, % 2.0 24.0
sale Q4 2007, investments in sales
C/I 0.41 0.36
capacity during 2007, and high salary
inflation
Total lending 43,100 +11%
Non recurring income from sale of
Total deposits 21,600 +6% PKK – card processing company
82
83. Business volume development
Retail Estonia, EURbn Corporate
Private
Other lending
Mortgages Deposits
3 3 3
2 2 2
1 1 1
0
0 0
Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08
05 06 07 08 05 06 07 08
Mortgages defined as home loans to
private individuals
Note: Figures include SEB:s large corporate business volumes
83
84. Market share development
Retail Estonia May, per cent Corporate
Private
Mortgages Deposits
35 35
30
30
25 25
20 20
15 15
10
10
5 5
0
0
Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08
05 06 07 08
Mortgage market share for home loans
to private individuals
84
85. Retail Latvia
Δ 2007
SEKm Jan – Jun 2008 Highlights
Total income 626 -1% Lower business activity than precedent
quarters
Interest, net 514 10%
Commission, net 92 -44% Strong focus on credit quality, including
increase of loans overdue
Total expenses -314 23% Increased savings focus - new mutual
funds launched
Credit losses, net -85 118%
Operating profit 228 -32% Cost increase affected by real estate
sale Q4 2007, investments in sales
capacity during 2007, and high salary
RoE, % 12.5 17.8
inflation
C/I 0.50 0.41
SEB awarded Best Bank in Latvia by
Global Finance
Total lending 36,100 +4%
Total deposits 17,600 +2%
85
86. Business volume development
Corporate
Retail Latvia, EURbn
Private
Other lending
Mortgages Deposits
3 3 3
2 2 2
1 1 1
0 0
0
Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08 05 06 07 08
05 06 07 08
Mortgages defined as home loans to
private individuals
Note: Figures include SEB:s large corporate business volumes
86
87. Market share development
Retail Latvia May, per cent Corporate
Private
Mortgages Deposits
20 20
15 15
10 10
5
5
0
0
Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08
05 06 07 08
Mortgage market share for home loans
to private individuals
87
88. Retail Lithuania
Δ 2007 Highlights
SEKm Jan – Jun 2008
Total income 1,038 11% Controlled credit growth continued
Interest, net 793 14% Continued expansion of distribution
Commission, net 201 3% capacity
Cost increase affected by real estate
Total expenses -418 20% sale Q4 2007, continued investments
Credit losses, net -51 -14% in sales capacity, and high salary
inflation
Operating profit 569 7%
SEB awarded Best Bank in Lithuania
RoE, % 22.0 20.0 by Global Finance; 10th consecutive
year
C/I 0.40 0.37
Total lending 64,000 +27%
Total deposits 28,100 +8%
88
89. Business volume development
Retail Lithuania, EURbn Corporate
Private
Mortgages Other lending Deposits
6 6
6
5 5
5
4 4
4
3 3
3
2 2
2
1 1
1
0 0
0
Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q2 Q4 Q2 Q4 Q2 Q4 Q2
Q2 Q4 Q2 Q4 Q2 Q4 Q2
05 06 07 08 05 06 07 08
05 06 07 08
Mortgages defined as home loans to private individuals
Note: Figures include SEB:s large corporate business volumes
89
91. Cards
Highlights
Δ 2007
SEKm Jan – Jun 2008
Total income 1,230 11% Continued underlying business
growth, turnover +7%
Interest, net 232 40%
Several new large customers gained
Commission, net 977 6%
across countries, e.g. H&M
SEB's consumer finance business in
Total expenses -674 2%
Norway transferred to Cards as of Q2
Credit losses, net -163 147%
Continued strong cost discipline, cost
Operating profit 393 1%
for comparable units unchanged
Increased losses due to consumer
RoE, % 21.8 26.6
finance transfer and higher fraud
C/I 0.55 0.59
Eurocard launched in Finland
Several new customer offerings
launched, e.g. Eurocard Platinum
91
93. Wealth Management
Fredrik Boheman Highlights
Head of
Stable base revenues given the market
Wealth Management
Strong net sales in Institutional Clients
in May (approx SEK 8bn) and Private
Banking continued showing good sales
Jan – Jun 2008 Δ 2007
SEKm Assets under management
SEK 1,217bn, -5% since year end
Total income 2,282 -11%
SEB kept capturing volumes, incl. shift
Interest, net 441 15%
to alternative products, on a continued
Commission, net 1,778 -16% weak net sales market for Swedish
mutual funds, SEK +3,8bn vs. total
Total expenses -1,354 14% market of SEK -28bn.
Cost increased due to consolidation of
Operating profit 926 -32% Key Asset Management and sales
initiatives
RoE, % 20.2 35.5 SEB's consumer finance business in
Norway transferred to Cards as of Q2
C/I 0.59 0.47
93
94. Share of income and result by area
Jan – Jun 2008; percent of total
Income Operating result
Institutional Private Institutional Private
Clients Banking Clients Banking
24%
33%
67% 76%
94
