SEB SA said its first-half normalized net income amounted to 99 euro cents per share, a gain from 47 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €49.2 million, a gain from €22.9 million in the year-earlier period.

Total revenue rose 15.7% on an annual basis to €2.11 billion from €1.83 billion, and total operating expenses increased 13.1% on an annual basis to €1.98 billion from €1.75 billion.

Reported net income rose from the prior-year period to €54.2 million, or €1.09 per share, from €22.9 million, or 47 cents per share.