SEB
Press releases from SEB

• SEB welcomes initiatives to support Latvia's financial system
  SEB welcomes the initiatives discussed by the Latvian Government and the National Bank of Latvia together with the European Union and the International Monetary Fund to support the Latvian financial system and to ensure confidence in the Latvian economy.
  
• SEB awarded title Best Trade Finance Bank in the Nordic Region
  SEB has won the title The Best Trade Finance Bank in The Nordic Region in the annual Trade Finance customer poll from the Global Trade Review (GTR) publication.
• SEB Enskilda Equities - Best Stock broker in Sweden 2008 in the Prospera survey
  SEB Enskilda Equities has regained the position as sole No 1 in the annual Prospera survey as most appreciated and largest stock broker in Sweden ahead of Handelsbanken as No 2, Carnegie as No 3, ABG Sundal Collier as No 4 and Öhman as No 5. Last year, the No 1 position was shared by Carnegie, Handelsbanken and SEB Enskilda Equities.
• SEB Financial Officers' Index: Growing pessimism - Weakening demand triggers cost cutting
  Swedish financial officers have become much more pessimistic since our last survey in September. Respondents are obviously concerned by evidence showing increasing business cycle weakness, citing lower demand as their main cause for concern. A significant number of officers also foresee lower profits next year compared to 2008. Any potential profitability improvements are expected to be driven by cost cutting and greater efficiency rather than volume increases and higher prices.
• New Nordic Outlook: Deeper recession - despite aggressive stimulus policies
  The most acute phase of the financial crisis is probably past, but the situation remains strained. The crisis is now having very potent contagious effects on the real economy. The world economic downturn is becoming more and more synchronised. Gross Domestic Product in the OECD countries will fall by more than 1 per cent in 2009 - the weakest performance since the Second World War. Meanwhile powerful, synchronised global stimulus policies are taking shape. Interest rates are being cut significantly as the threat scenarios of central banks are increasingly dominated by recession, financial crisis and deflation worries. In addition, fiscal policy is being used on a broad front to soften the downturn. Stimulus packages will contribute to a slight recovery in 2010, a year that will still be dominated by the economic slump.
• SEB launches The Benche - the Web Based Internet Community for Trade Finance specialists
  www.thebenche.com is a dynamic web based internet community open for all Trade Finance professionals and others active in international trade. The Benche offers a unique opportunity to gather and share knowledge and experience, and discuss and network amongst professionals.
• Reclassification of fixed-income securities - IAS 39/IFRS 7
  
• World Bank and SEB partner with Scandinavian Institutional Investors to Finance "Green" Projects
  The World Bank today announced a partnership with SEB and several key Scandinavian institutional investors to introduce a "World Bank green bond" to raise funds for projects seeking to mitigate climate change or help affected people adapt to it.
• Operating result for the third quarter 2008: SEK 2.0bn. Operating profit for January-September 2008: SEK 7.9bn
  
• REMINDER - Invitation - SEB's third quarter 2008 results
  
• Invitation - SEB's third quarter 2008 results
  
• Eastern European Outlook: Resilience is eroding - lengthy recession in Estonia and Latvia
  The resilience of Central and Eastern European in the face of global economic slowdown is on its way towards eroding. Until now, many countries have maintained their growth thanks to vibrant domestic economies. Today, however, pressure on the region's economies has greatly increased as the euro zone has stagnated and the repercussions of the international financial and credit market crisis intensify. SEB's October 2008 issue of Eastern European Outlook adjusts earlier overall growth forecasts downward.
• Information on SEB's exposure to Icelandic banking groups
  
• Nomination Committee for SEB appointed
  
• SEB's exposure towards Lehman Brothers
  
• SEB Launches Organisational Change within its German Operations
  
• Peter Branner new Head of SEB Investment Management
  SEB has recruited Peter Branner as new Head of SEB Investment Management. Branner will continue to develop the SEB mutual funds offering and build on the bank's leading position within alternative investments.
• SEB Financial Officers' Index: Business confidence weakens but does not collapse -investments could decline as banks reduce lending
  Swedish financial officers are more pessimistic. The latest survey shows respondents increasingly worried about the weakening business cycle with lower demand seen as the main cause for concern. At the same time officers were significantly less bothered by the threat of rising raw material costs. All participating financial officers were confident that profits will rise in 2008 driven mainly by price hikes and volume increases.
• Nordic Outlook: On the cusp of a global recession - sharp interest rate cuts in Europe
  The ongoing credit crisis will continue to dominate the global economy, as tighter credit conditions and falling home prices hamper growth. Next year, growth in the OECD will be the lowest since the early 1990s. Looking ahead, emerging economies will also be affected to a greater degree by secondary effects from the slowdown in industrialised countries. Overall, the world economy will grow by 3 per cent in 2009, which is close to a recession at the global level. Inflation will gradually turn downward, and combined with ever weaker economic conditions this will open the door for interest rate cuts in Europe on a broad front in 2009.
  
  The Swedish economy is now rapidly weakening. This year GDP growth will be 1.4 per cent and next year 0.9 per cent. Job growth will decelerate and unemployment will climb to 7.3 per cent in 2010. The labour market slowdown, combined with declining inflation next year, will enable the Riksbank to begin cutting its key interest rate in February 2009. By the end of next year, the repo rate will stand at 3.50 per cent. Sustained by strong finances, the government will implement fiscal stimulus measures of around SEK 40 billion in both 2009 and 2010. By 2010, public finances will have swung into a deficit of nearly 1½ per cent of GDP.
• SEB adopts the Principles for Responsible Investments
  SEB has - through its Wealth Management Division - adopted the United Nations Principles for Responsible Investments (PRI) within the category Investment Managers. SEB views this commitment as an important step in contributing to the good corporate citizenship and sustainable development in global economy.
• Operating result for the second quarter 2008: SEK 3.5bn. Operating profit for January-June 2008: SEK 5.9bn
  
• SEB top ranked by Euromoney - winner of nine categories
  In the financial publication Euromoney's Awards for Excellence 2008 SEB has won nine awards - three awards for the Nordic and Baltic region and six country awards.
  
• REMINDER - Invitation - SEB's second quarter 2008 results
  
• SEB acquires GMAC Commercial Finance in Poland
  SEB has reached an agreement with GMAC Commercial Finance (GMAC CF) to acquire its Polish factoring and promissory note disc