trending Market Intelligence /marketintelligence/en/news-insights/trending/xl0RfhpgDUUwDCKWXFMQJQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

SEB sees 'broad based' corporate loan growth in Q3

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

SEB sees 'broad based' corporate loan growth in Q3

Skandinaviska Enskilda Banken AB recorded strong growth across its corporate loan book in the first three quarters of 2019, largely driven by credit demand from existing customers, Finance Director Masih Yazdi said.

The Swedish bank's corporate loan book grew by 15 billion Swedish kronor between the end of 2018 and the end of the third quarter to 257 billion kronor.

"When you look at the 40 largest customers we have in the bank, 30 of those have increased lending in last 12 months," he said during an Oct. 23 analyst call.

These 30 clients are ones that the bank has been doing business with for a long time and knows "very, very well," Yazdi said.

The financial and insurance sector was a particularly strong area of credit expansion for SEB in the third quarter, he said, adding that much of this was short-term and bridging loans.

Lending growth combined with lower funding costs helped to power the bank's increase in net interest income, which increased to 5.98 billion kronor in the third quarter compared with 5.32 billion kronor during the same period in 2018.

AML spending

On the subject of what SEB is spending on boosting its anti-money laundering capabilities, Yazdi said that the bank had not broken this figure out separately in the report. SEB continues to focus on strengthening AML activities but spending is not likely to increase materially this year.

"Maybe some people in the bank had been working more on AML rather than other things, but we don't anticipate large additional costs at this point," he said.

Several of SEB's Nordic peers have been embroiled in money-laundering scandals in which vast amounts of illicit money passed through their Baltic businesses. SEB has been the subject of a probe by both the regulators in Sweden and the Baltic countries, with the results due to be published sometime in early 2020.

International focus remains

Yazdi also said that the bank had no plans of exiting any of its international businesses.

"We have very international customers we help across the globe, and it's been very good for us to be able to help them in other jurisdictions than only the Nordic countries. So the branches we have and the offices that we have across globe, have been very beneficial to us in serving our customers. That's how we look at it," he said.

SEB has operations in several countries outside the core Nordic region, including the Ukraine, Germany, Latvia, Lithuania and Estonia.

On the same day, Svenska Handelsbanken AB (publ) said that it was shutting its operations in Germany and Asia.

As of Oct. 22, US$1 was equivalent to 9.63 Swedish kronor.