SEB Q1 Net Profit Declines

(RTTNews) - SEB reported first quarter net profit of 7.82 billion Swedish kronor, down 18% from a year ago. Basic earnings per share was 3.89 kroner compared to 4.60 kroner. Total operating profit was 9.95 billion kronor, down 19%.

The company noted that the announcement of new trade tariffs led to notable market turbulence at the beginning of the second quarter.

"SEB is one of the most well-capitalised banks in Europe, with a strong liquidity position. This makes us well-positioned against unforeseen events and enables us to continue supporting our customers and the economy at large," said Johan Torgeby.

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