SEB
Press releases from SEB

• 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 discounting operation, GMAC CF Sp. z o.o. The acquisition is expected to be completed by 31 July, 2008.
• UPDATED: Invitation - SEB's second quarter 2008 results
  
• INVITATION - SEB's second quarter 2008 results
  
• SEB rated Best Asset Manager in Sweden
  SEB has been rated Best Asset Manager in Sweden in Thomson Reuters' annual ranking of asset managers in the Nordic Region.
• SEB Enskilda Equities rated No 1 for Equity Research in the Nordic Region
  SEB Enskilda Equities has been rated No 1 for equity research in the Nordic region in the annual European ranking Thomson Reuters Extel Survey.
• SEB rated Best Sub-Custodian Bank in the Nordic Region
  Global Finance magazine rates SEB Best Nordic Regional Sub-Custodian and Best Custodian in Sweden in its upcoming July/August issue.
• SEB Financial Officers' Index: Increased uncertainty amongst respondents - concerns regarding rising raw material costs may lead to higher prices
  Uncertainty amongst Swedish financial officers has increased. Compared to three months ago raw material costs have emerged as the greatest concern while falling demand still dampens earnings growth expectations. Despite these concerns, financial officers still expect higher profits in 2008. However, a greater percentage of financial officers now believe earnings growth will be driven by cost reductions rather than volume increases.
• SEB ranked Best Bank in Sweden, Latvia, and Lithuania
  SEB is ranked number one for Sweden in the category "World's Best Developed Market Banks 2008", and also number one bank for Latvia and Lithuania in the category "World's Best Emerging Market Banks in Central and Eastern Europe 2008" in surveys done by Global Finance Magazine
• Jan Erik Back New Chief Financial Officer of SEB
  
• Bo Carlsson new Branch Office Manager at SEB in Singapore
  Bo Carlsson has been appointed manager of SEB's branch office and Head of Merchant Banking division at SEB in Singapore and takes on his new position 1 August 2008. Carlsson joined SEB in 1989 and has been Head of Client Relationship Management (CRM) and for Merchant Banking in