The rating agency Standard & Poor's has upgraded SEB's long-term rating to 'A+'
with stable outlook from the previous 'A'. Standard and Poor's highlights the
bank's position as the Nordic market leader in capital markets and investment
banking and its strong position in other diverse business areas such as cards,
wealth management, life insurance, and retail mortgage lending.
"It is with satisfaction we note that Standard & Poor's confirm the financial
stability we have built over the years. The strength of our customer relations
as the leading Nordic corporate bank has rendered a stability in earnings and
asset quality which supports the bank's strong capital and liquidity situation",
says Jan Erik Back, SEB's CFO.
"In this highly challenging environment, credibility as a financial partner and
counterpart cannot be underestimated. Banking is all about taking a long-term
perspective, creating trust and building relationships. In Standard & Poor's
assessment the Swedish banking system is considered one of strongest
internationally. It gives comfort for investors in Swedish banks which supports
our financial system."
Standard and Poor's rating rationale includes an assessment of SEB's business
position, capital and earnings, risk position, funding and liquidity, which all
are regarded as well-balanced. The stable outlook reflects its expectation that
SEB will continue to benefit from the stability of its diverse revenue sources
and maintain its capital base.
For further information, please contact
Ulf Grunnesjö, Head of Investor Relations,
+46 8-763 85 01,
+46 70-763 85 01
Viveka Hirdman-Ryrberg, Head of Corporate
Communication,
+46-8-763 85 77, +46-70-550 35 00
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SEB is a leading Nordic financial services group. As a relationship bank, SEB
in Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The
international nature of SEB's business is reflected in its presence in some
20 countries worldwide. On September 30, 2011, the Group's total assets
amounted to SEK 2,359 billion while its assets under management totalled SEK
1,241 billion. The Group has about 17,600 employees. Read more about SEB at
www.sebgroup.com.
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