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Skandinaviska Enskilda Banken AB (publ) (SEB-A.ST)

Stockholm - Stockholm Real Time Price. Currency in SEK
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117.80+0.95 (+0.81%)
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Neutralpattern detected
Previous Close116.85
Open117.15
Bid117.70 x 0
Ask117.90 x 0
Day's Range116.55 - 117.95
52 Week Range75.56 - 118.70
Volume2,053,862
Avg. Volume3,093,770
Market Cap254.657B
Beta (5Y Monthly)1.11
PE Ratio (TTM)13.22
EPS (TTM)8.91
Earnings DateN/A
Forward Dividend & Yield4.10 (3.71%)
Ex-Dividend DateMar 31, 2021
1y Target Est101.13
  • ACCESSWIRE

    Skandinaviska Enskilda Banken AB to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / January 27, 2021 / Skandinaviska Enskilda Banken AB (OTCMKTS:SVKEF) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on January 27, 2021 at 9:00 AM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.

  • SEB's Nordic Outlook: COVID-19 holds the world in an iron grip
    GlobeNewswire

    SEB's Nordic Outlook: COVID-19 holds the world in an iron grip

    Press release Stockholm, 10 November, 2020 Nordic Outlook: COVID-19 holds the world in an iron gripSweden: Government and Riksbank respond with new stimulusA mixed picture is now emerging. After a surprisingly strong economic recovery in the third quarter of 2020, the second wave of the novel coronavirus is becoming significantly worse than expected. New restrictions will again lead to negative GDP growth during the fourth quarter, at the same time as stimulus measures are expanded. Because of the new overall growth curve, we are adjusting our forecast of  GDP growth in the advanced economies (the 37-country Organisation for Economic Cooperation and Development, or OECD) upward by one percentage point to minus 5.7 per cent. Instead we foresee a weaker GDP upturn in 2021 than we did previously: we have lowered our growth forecast from 4.6 per cent to 3.9 per cent. Although downside risks have increased, we do not expect the second wave of COVID-19 to have any crucial negative effects in the long term, and we believe that in 2022 GDP in the OECD countries will grow by 3.4 per cent, or well above trend. Meanwhile the historical disadvantages of stimulus measures will persist: wider economic gaps, reduced pressure for change, non-optimal allocation of capital and distortions in competition.   Sweden’s GDP decline in 2020 will be limited to 3.1 per cent – half of what we projected in May. New restrictions will dampen growth in the short term. We have lowered our GDP growth forecast for 2021 to 2.7 per cent, from the previous 4.2 per cent. Unemployment will peak next spring at 9.7 per cent (0.5 points higher than today). Unutilised crisis funds totalling more than SEK 100 billion can be used in the near term to help businesses and others in need. Meanwhile we expect the government’s SEK 105 billion stimulus budget for 2021 to be expanded by SEK 50-70 billion. Despite inflation that is well below the Riksbank’s 2 per cent target, due to a stronger krona and low contractual pay increases, the central bank will not cut its key interest rate. Instead it will expand its stimulative purchases of securities by SEK 100 billion to a total of SEK 600 billion. Growth surprises are offset by serious COVID-19 reversalsA very powerful second wave of the coronavirus has hit Europe and the United States especially hard. The economic growth curve for 2021-2022 will be determined by the degree and duration of new pandemic-related restrictions, future access to COVID-19 vaccines and the expanded stimulus policies of central banks and governments. Our main scenario assumes that these restrictions will be milder than those that were imposed last spring and that large-scale vaccinations will begin during the second quarter of 2021. The president-elect of the United States, Joe Biden, will open the way for a growth- and job-oriented fiscal policy that will interact with the Federal Reserve’s near-zero key interest rate and extensive securities purchases. GDP will fall by 4.0 per cent in the US this year. In 2021 it will grow by 3.6 per cent and in 2022 by 3.8 per cent. American unemployment (6.9 per cent today) will reach 4.5 per cent. The European Union’s new EUR 750 billion recovery fund will supplement both new national fiscal stimulus measures and the European Central Bank (ECB)’s expanded securities purchases, now totalling EUR 500 billion. The ECB will buy virtually all euro area government bonds that are issued during 2021. In the euro area, GDP will fall by 7.6 per cent in 2020, then climb by 4.0 per cent in 2021 and 4.3 per cent in 2022. Unemployment (8.5 per cent today) will increase to 10.5 per cent. Inflation in the US and in the euro area will not reach central bank targets.China will be a growth engine for Asia and the worldDespite a strong recovery in China, we have adjusted our forecast of 2020 GDP growth in emerging market (EM) economies to minus 3.3 per cent, mainly because India has been harder hit by the pandemic than expected. Our overall forecast of global GDP growth is largely unchanged at −4.4 per cent this year, 5.1 per cent in 2021 and 3.9 per cent in 2022. The mixed situation in the EM sphere is due to differences in export structure, fiscal manoeuvring room and how hard these economies have been hit by the COVID-19 crisis. China has managed to create a broad-based recovery for both production and consumption, despite pursuing a very cautious stimulus policy in order to avoid growing imbalances. The Chinese economy will grow by 2.0 per cent this year, 8.0 per cent in 2021 and 5.6 per cent in 2022. In the EM sphere as a whole, GDP will grow by 6.2 per cent in 2021 and 4.3 per cent in 2022. This forecast assumes that we will not see another clear wave of the coronavirus.Nordics and Baltics show signs of strength, but new challenges awaitSo far, all of the Nordic and Baltic economies have performed unexpectedly well. They will experience milder GDP declines in 2020 than the European Union average. Broad-based lockdowns were relatively brief in most of these countries, while their sectoral structure – for example more food processing and manufacturing – has benefited the Danish and Finnish economies, for example. There are many indications that these regions can also emerge relatively unscathed – in economic terms – during the second wave of COVID-19 compared to the rest of Europe (see the table below for GDP forecasts). In Norway, fiscal policy makers will provide continued support as the recovery slows. Although households look set to manage nicely, growth will be hampered by low capital spending. Norges Bank will be one of the few central banks to hike its key interest rates before the end of 2022, due to rising home prices. New pandemic-related restrictions in Denmark raise questions about short-term growth, but the country’s 2020 recovery has been impressive. Private consumption will be the engine of Danish growth in 2021-2022. In Finland, forward-looking indicators suggest a decline in economic resilience. Although growth will be fairly healthy, structural weaknesses – an ageing population and weak productivity growth – will hamper economic performance further ahead.   In Estonia, consumption will be an important driver of growth; it will be supported by an expansionary fiscal policy and a controversial pension reform. Despite somewhat looser COVID-related restrictions, the Latvian economy has been harder hit than its Baltic neighbours. Exports are driving the recovery. Meanwhile stimulus programmes have limited the upturn in unemployment and helped sustain households. In Lithuania, too, consumer confidence has been sustained, among other things, by an accelerating wage and salary growth: consumption is expected to lead the recovery in 2021 and 2022.  Strong Swedish recovery encounters setbacksAfter a strong third quarter of 2020, Sweden’s economic recovery will now lose momentum for the next six months due to new pandemic-related restrictions and fading growth elsewhere in Europe. This will mainly affect GDP growth in 2021, which we have revised downward to 2.7 per cent (from 4.2 per cent in Nordic Outlook, September 2020) after a GDP decline of 3.1 per cent this year (−3.8 per cent). Dismantling of restriction and further stimulus measures in 2021 will breathe new energy into the recovery during the second half of 2021. We expect GDP to grow by 4.4 per cent in 2022. GDP will nevertheless be 1-2 per cent below trend by the end of 2022. Residential construction will prop up total capital spending, and we expect home prices to remain flat or move slightly higher during both 2021 and 2022. Unemployment will increase this winter by 0.5 percentage points, peaking next spring at 9.7 per cent and then falling to 7.6 per cent at the end of 2022.Overall, households can count on a rapid rise in purchasing power in 2021 and 2022, mainly due to low inflation and yearly wage and salary growth of about 2.5 per cent, but also higher stock dividends.Government will expand 2021 stimulus and Riksbank will raise QE limit So far during 2020, fiscal stimulus has been utilised at less than the budgeted amount. This opens the way for further crisis and recovery programmes. The Social Democratic/Green minority government and the other two signatories of the “January Agreement” – the Centre and Liberal parties – are expected to expand the 2021 stimulus budget (today just over SEK 105 billion) by an additional SEK 50-70 billion. The budget for 2022, an election year, is also likely to include new unfinanced reforms. General government debt will climb from 35 per cent at the end of 2019 to 40 per cent at the end of 2022, which is still a low debt level. Sweden’s expansionary fiscal policy is reasonable and carefully considered, in light of low resource utilisation and the problems now facing the economy.The Riksbank is under great pressure to deliver new actions. CPIF inflation (the consumer price index excluding interest rate change) will be 1.1 per cent in 2021 and 1.4 per cent in 2022, compared to 0.4 per cent this year. We believe that the Riksbank will expand its stimulative securities purchases by SEK 100 billion to SEK 600 billion but that the central bank will abstain from going back to negative key interest rates, since the disadvantages (such as a weak krona, pressure on the retail sector and an increased risk of negative interest rates on bank deposit accounts) outweigh the advantages. At the end of 2021, a euro will be worth SEK 9.85 and a US dollar will be worth SEK 7.90. At the end of 2022, the EUR/SEK exchange rate will be 9.70 and the USD/SEK rate will be 7.60.  This Nordic Outlook report includes five theme articles. One discusses the medium- and long-term consequences of the processes that will now shift production resources from shrinking to growing economic sectors. Another describes the potential impact of increased remote work on the global labour market. Other theme articles analyse the key role of the US dollar in the global foreign exchange market and the varying ability of emerging market countries to deal with the pandemic. Finally there is a theme article about the interactions between the Riksbank and Sweden’s employer associations and labour unions, in light of this year’s new collective wage and salary agreements.  Key figures: International & Swedish economy (figures in brackets are from the September 2020 issue of Nordic Outlook)    International economy, GDP, year-on-year changes, % 2019 2020 2021 2022 United States 2.2 (2.2) -4.0 (-5.5) 3.6 (4.0) 3.8 (3.5) Euro area 1.3 (1.3) -7.6 (-8.8) 4.0 (6.6) 4.3 (3.4) United Kingdom 1.5 (1.4) -11.5 (-11.6) 4.7 (7.0)  6.6 (1.0) Japan 0.7 (0.7) -5.8 (-5.8) 2.4 (2.4)  0.7 (0.7) OECD 1.6 (1.6) -5.7 (-6.6) 3.9 (4.8) 3.4 (2.8) China 6.1 (6.1) 2.0 (2.0) 8.0 (8.0)  5.6 (5.6) Nordic countries 1.6 (1.4) -3.1 (-3.5) 3.7 (4.0) 3.1 (2.8) Baltic countries 3.7 (3.6) -2.9 (-2.9) 3.4 (3.7) 3.4 (3.4) The world (purchasing power parities, PPP) 2.8 (2.9) -4.4 (-4.3) 5.1 (5.3) 3.9 (4.0) Nordic and Baltic countries, GDP, year-on-year changes, %         Norway 1.2 (1.2) -1.9 (-2.6) 3.0 (3.4) 3.5 (3.5) Denmark 2.8 (2.3) -4.2 (-4.5) 4.3 (5.0) 3.5 (2.5) Finland 1.1 (1.1) -4.0 (-2.9) 2.8 (3.2) 2.5 (2.2) Estonia 5.0 (4.3) -3.8 (-4.7) 3.3 (4.0) 3.5 (3.5) Latvia 2.2 (2.2) -4.6 (-4.6) 4.3 (4.3) 3.5 (3.5) Lithuania 4.3 (3.9) -1.5 (-1.3) 3.0 (3.0) 3.3 (3.0) Swedish economy, year-on-year changes, %         GDP, actual 1.3 (1.2) -3.1 (-3.8) 2.7 (4.2) 4.4 (3.1) GDP, working day corrected 1.3 (1.3) -3.4 (-4.1) 2.6 (4.1) 4.4 (3.1) Unemployment, % (EU definition) 6.8 (6.8) 8.5 (9.0) 9.1 (9.6) 8.0 (8.4) CPI (consumer price index) 1.8 (1.8) 0.5 (0.6) 1.1 (1.2) 1.4 (1.5) CPIF (CPI minus interest rate changes) 1.7 (1.7) 0.4 (0.5) 1.1 (1.2) 1.4 (1.5) Government net lending (% of GDP) 0.4 (0.5) -3.5 (-5.0) -3.3 (-4.0) -2.0 (-3.0) Repo rate (December) 0.0 0.0 (0.0)  0.0 (0.0) 0.0 (0.0) Exchange rate, EUR/SEK (December) 10.46 10.20 (10.00)  9.85 (9.75) 9.70 (9.60)   For more information, please contact: Robert Bergqvist, +46 70 445 1404 Håkan Frisén, +46 70 763 8067 Daniel Bergvall, +46 73 523 5287 Per Hammarlund, +46 76 038 9605 Olle Holmgren, +46 70 763 8079 Elisabet Kopelman, +46 70 655 3017 Marcus Widén, +46 70 639 1057 Press contact: Niklas Magnusson, +46 70 763 8243         SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On September 30, 2020, the Group's total assets amounted to SEK 3,201 billion while its assets under management totalled SEK 2,054 billion. The Group has around 15,000 employees. Read more about SEB at https://www.sebgroup.com. Attachment * Nordic Outlook, November 2020

  • CFO Survey: Swedish CFOs more positive despite considerable uncertainty
    GlobeNewswire

    CFO Survey: Swedish CFOs more positive despite considerable uncertainty

    Press release Stockholm 28 October 2020 The financial outlook is showing a significant improvement since this past spring, and even though optimism about future business opportunities is lower than during last autumn’s survey, it is considerably higher than when it hit a low point during the spring. External uncertainty has risen to its highest level in four years, and it’s hardly surprising that companies’ top priority is to continue cutting costs. The CFO Survey is conducted twice a year and aims to highlight changes in sentiment among Swedish CFOs and compare these with the trend in the rest of Europe.This past spring we decided to not publish the period’s CFO survey, as it was conducted in the midst of the initial phase of the pandemic in March. As a result, the range of responses was extremely large between companies that had responded at the start of the survey period and those that responded at the end of the period.“Now looking back it is interesting to see how companies’ views of future business opportunities in early March were perceived as being somewhat better than in the autumn of 2019, while during the third week of March they fell to the lowest level we have ever measured,” says Marcus Widén, economist at SEB. “In other words, you could basically see in real time how the sentiment among large corporates developed when the pandemic took hold with full force.”Strong improvement compared with three months ago In this autumn’s survey we can see a strong turn towards the positive with respect to how CFOs view the financial outlook compared with three months ago. The upswing is strong in the sectors that were initially hardest hit by the crisis: Manufacturing and Business & Professional Services. The reversal seen in the Swedish market is considerably stronger than the general trend in the EU. Continued focus on cost-cutting “It is hardly surprising that cutting costs continues to be the top priority among companies, but at the same time we see that expectations for organic growth have grown in importance since last autumn’s survey,” says Henrik Nilsson, partner at Deloitte. Worries about a continued economic decline are great. The survey shows that the challenge that is decreasing most in importance is the shortage of qualified personnel, which can surely be explained by the many layoffs that have taken place during the pandemic. CFOs also indicate that their plans going forward are to continue looking over staffing, even though they indicate a slightly lower reduction than the average in the EU. Higher dividends in 2021 and investments in Sweden A full 48% of CFOs in the survey expect to increase the level of acquisitions and divestments in the coming 12 months, which is the highest percentage since 2014. The responses to how their companies plan to use their surplus liquidity are highly interesting. A full 58% responded that it will be used for investments in Sweden, while only 6% say they are planning on investments abroad. This is in contrast to the autumn of 2019, when 42% said they would be investing in Sweden and 24% said they would be investing abroad.“This clearly shows that companies have a more national focus at the moment,” says Nilsson. In addition, the share that say that they will be using their surplus liquidity for shareholder dividends doubled to 15%, compared with 6% last autumn. Covid-19 a source of continued strong concern for most companies in 2021 and 2022 This autumn’s survey included two specific questions about Covid-19. What is positive to note is that one in three CFOs already assess that their companies are back at the same level of profit generation as before the pandemic. “On the negative side, however, a full 60% believe that this will not be achieved until 2021 or 2022,” says SEB’s Marcus Widén.The survey also shows that, owing to Covid-19, their companies have increased their investment plans related to improvements in organisational and business processes as well as IT, but cut back on the same in land, real estate and equipment. About the Deloitte/SEB CFO Survey The Deloitte/SEB CFO Survey aims to highlight changes in sentiment among Swedish CFOs, various sectors, and compared with the general sentiment in the rest of Europe and thereby convey an understanding of economic and financial trends. It is published twice yearly and is conducted in Sweden and in 18 other European countries. For the complete report, visit www.cfosurvey.seFor more information, contact:  Marcus Widén, Economist, SEB +46 70 639 1057 marcus.widen@seb.seHenrik Nilsson, Partner, Deloitte                                                              +46 73 397 1102                                                                                                 henrik.nilsson@deloitte.se                                                                                                                      Press contact: Niklas Magnusson, Group Press Officer, SEB +46 70 763 8243 niklas.x.magnusson@seb.seChrister Ahlgren, Press Contact, Deloitte +46 70 814 23 20 christer.ahlgren@deloitte.se           SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On September 30, 2020, the Group's total assets amounted to SEK 3,201 billion while its assets under management totalled SEK 2,054 billion. The Group has around 15,000 employees. Read more about SEB at https://www.sebgroup.com.     Attachment * CFO Survey Autumn 2020