SEB reported a mixed set of Q320 results. Both total income and expenses were better than expected but loan losses were above expectations underlying an increase in stage 3 loans (and stage 3 impairments). Given Swedbank and SHB’s better results, the market will be disappointed.
More surprisingly, SEB mentioned that some authorities including the US authorities has asked the bank to provide information concerning measures against money laundering.
22 Oct 2020
A cautious tone...
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A cautious tone...
Skandinaviska Enskilda Banken AB Class A (SEB.A:OME), 0 | Skandinaviska Enskilda Banken AB Class A (SVKEF:OTC), 0 | Skandinaviska Enskilda Banken AB Class A (SEBA:FRA), 0 | Skandinaviska Enskilda Banken AB Class A (0HBY:LON), 0
- Published:
22 Oct 2020 -
Author:
Farhad Moshiri -
Pages:
3
SEB reported a mixed set of Q320 results. Both total income and expenses were better than expected but loan losses were above expectations underlying an increase in stage 3 loans (and stage 3 impairments). Given Swedbank and SHB’s better results, the market will be disappointed.
More surprisingly, SEB mentioned that some authorities including the US authorities has asked the bank to provide information concerning measures against money laundering.