Accelerating into the FutureJohan Torgeby, President & CEO
A Well-Diversified Business
2
2,300Large
Corporations
700Financial
Institutions
400kSmall & Medium-Sized Companies
4mPrivate
Individuals
66%
31%
3% Corporate Customers &Institutions
Private Customers
Non-Customer Driven
SEB Operating Profit 2017Based on Customer Segment
56%
10%
9%
8%5%
5%4%3%
SwedenBalticsDenmarkNorwayFinlandGreat BritainGermanyOther
SEB Operating Profit 2017 Based on Geography
39%
36%
9%
16%Large Corporates &Financial Institutions
Corporate & PrivateCustomers
Baltic
Life & InvestmentManagement
SEB Operating Profit 2017Based on Organisational Structure
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
3
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
4
1 Operating profit and RoE before items affecting comparability.
2014 2015 2016 2017 2018 (ann.)
SEB Operating Profit (SEKbn) 1
20.4 21.8 20.322.7 22.8
11.4
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
5
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
6
1 Operating profit and RoE before items affecting comparability.
13.1% 12.9%
11.3%
12.9%13.9%
2014 2015 2016 2017 2018 H1
SEB Return on Equity 1
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
7
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
8
1 Operating profit and RoE before items affecting comparability.
0.50 0.49 0.50 0.48 0.48
2014 2015 2016 2017 2018 H1
SEB Cost/Income
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
9
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
10
1 Operating profit and RoE before items affecting comparability.
16.3%
18.8% 18.8% 19.4% 19.3%
2014 2015 2016 2017 2018 H1
SEB CET1
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
11
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
12
1 Operating profit and RoE before items affecting comparability.
1.708 1.700 1.781 1.830 1.838
2014 2015 2016 2017 2018 H1
SEB Assets under Management (SEKbn)
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
13
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
14
1 Operating profit and RoE before items affecting comparability.
6.763 7.196 6.859
8.046 8.169
2014 2015 2016 2017 2018 H1
SEB Assets under Custody (SEKbn)
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
15
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
16
1 Operating profit and RoE before items affecting comparability.
1.356 1.3531.453 1.485
1.654
2014 2015 2016 2017 2018 H1
SEB Loans to the Public (SEKbn)
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
17
1 Operating profit and RoE before items affecting comparability.
SEB During First Six Months 2018
Operating Profit (SEKbn)1
RoE (%)1
C/I CET1 (%)
Assets under Management
(SEKbn)
Assets under Custody(SEKbn)
Loansto the Public
(SEKbn)
1,838 8,169 1,654
11.4 13.9 0.48 19.3
Deposits from the Public
(SEKbn)
1,202
18
1 Operating profit and RoE before items affecting comparability.
943884
962 1,005
1,202
2014 2015 2016 2017 2018 H1
SEB Deposits from the Public (SEKbn)
SEB Corporate Activity Picking Up
19
0
200
400
600
800
1,000
1,200
dec/09dec/10dec/11dec/12dec/13dec/14dec/15dec/16dec/17
SEK
bn
Corporates including Public Administration
Real Estate Management
Households including Housing Co-Ops
Growth in Swedish Corporate Lending Volumes Development of SEB Credit Portfolio by Sector
-10%
-5%
0%
5%
10%
15%
20%
jan/00 jan/02 jan/04 jan/06 jan/08 jan/10 jan/12 jan/14 jan/16 jan/18
SEB Growth (YoY, 12m rolling avg.)
Total Market Growth (YoY, 12m rolling avg.)
Source: Statistics Sweden (SCB).
+11%YoY
+4%YoY
+5%YoY
7.2%
5.8%
-15
-10
-5
0
5
10
60
65
70
75
80
85
jan/05 jan/07 jan/09 jan/11 jan/13 jan/15 jan/17
Capacity Utilisation in Manufacturing Industry 1
Capacity Utilisation in Manufacturing Industry (%, LHS)
Investments (Annual % Change, RHS)
Indicators of Continued Positive Business Cycle
20
-10
0
10
20
30
40
jan/05 jan/07 jan/09 jan/11 jan/13 jan/15 jan/17
Capital Expenditure Plans Next 3 to 6 Months
Hiring Plans Next 3 Months (Net)
Capital Spending and HiringUS
Capacity Utilisation and Investments EMU
0
10
20
30
40
50
2016 H1 2016 H2 2017 H1 2017 H2 2018 H1
Sweden CAPEX Plans
EMU CAPEX Plans
Investment Optimism EMU and Sweden
Source: National Federation of Independent Business. Source: Eurostat. Source: SEB/Deloitte CFO Survey.
SEB Profitable, Efficient and Well-Capitalised
21
0.0
0.2
0.4
0.6
0.8
1.0
0 5 10 15 20
C/I1
RoE (%)1
Predominantly Retail and SME Banks Universal Banks with Retail and Investment Banking
0.0
0.2
0.4
0.6
0.8
1.0
0 5 10 15
C/I1
RoE (%)1
1 Data as of H1 2018; SEB excluding items affecting comparability, remaining banks as reported.
Size of Bubble = CET 1 Ratio Size of Bubble = CET 1 Ratio
Speed of Transformation Is Accelerating
Client-centricorganisation Micro finance fund
6th launch
Green mortgages
MiFID IIIFRS 9
Innovation Lab
Data lake
Robo advisor
Digital onboarding & signing
Digital mortgages
Experience Centre
Agile all in
2016
P27
22
SEBx
Developerportal
RPDs
2017 2018
…and Customers Like It
Corporate & Private CustomersCustomer Satisfaction (NPS)
Large Corporates & Financial InstitutionsCustomer Satisfaction (Prospera, Ranking)
23
2015 2016 2017 2018
Large Corporates
Sweden 1 1 1 N/A
Nordics 2 2 3 N/A
Financial Institutions
Sweden 2 1 1 N/A
Nordics 4 1 2 N/A
2015 2016 2017 2018 YTD 1
Corporate Customers
Advisory 43 49 43 51
Teller 13 2 10 20
Private Customers
Advisory 33 40 44 48
Teller 17 21 22 28
1 Data as of August 2018.
The Journey Towards…
…World-Class Service to Our Customers Continues