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Article: SEB net profit melts to SEK37m Q3 '09.(Skandinaviska Enskilda Banken AB)(Financial report)(Brief article)
- Article from:
- Nordic Business Report
- Article date:
- October 21, 2009
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NORDIC BUSINESS REPORT-21 October 2009-SEB net profit melts to SEK37m Q3 '09(C)1994-2009 M2 COMMUNICATIONS http://www.m2.com
21 October 2009 - Swedish bank Skandinaviska Enskilda Banken AB (STO: SEB A), or SEB, saw its net profit diminish to SEK37m in the third quarter of 2009 from SEK1.886bn a year earlier.
Profit before provisions for credit losses rose by 15% year-on-year to SEK3.72bn. Provisions for credit losses amounted to SEK3.335bn, of which the Baltic countries accounted for SEK2.642bn or 79%. The net credit loss level was 0.98%, up from 0.27%.
Total operating income increased 6% to SEK9.735bn.
Operating profit slumped to ...