Swedish bank SEB posts SEK 8,664M net profit for Q2, beating year-ago levels amid income growth and reduced loan-loss provisions.
SEB SA reported a 16% year-over-year increase in Q2 net profit to SEK 8,664M, driven by a 9% rise in total operating income to SEK 20,055M. Operating expenses grew 5% to SEK 8,014M, while net expected credit losses fell 37% to SEK 345M.
Operating profit before items affecting comparability reached SEK 10,774M, up 14% from the same period last year. Earnings per share rose to SEK 4.44 from SEK 3.83, aligning with the net profit growth.
The results reflect improved revenue streams and disciplined cost management, offsetting higher operating expenses.