STOCKHOLM (dpa-AFX) - Skandinaviska Enskilda Banken AB or SEB (SEBYF, SEBa.ST), a Swedish banking major, reported Thursday lower profit in its third quarter amid nearly flat total operating income, even as net interest income was higher.
Looking ahead, SEB said it continues cost management efforts through ongoing cost consolidation. The bank expects full-year 2026 costs to come in below its annual cost target by approximately SEK 500-600 million.
Separately, the company said its Board of Directors has decided to pause share buybacks effective as of December 31, 2026, citing the continued loan growth in combination with a temporary higher capital requirement from the Swedish FSA.
SEB's previously announced SEK 1.25 billion share buyback programme was ended on October 20.
The third-quarter 2026 net profit was SEK 7.498 billion, down 2 percent from SEK 7.677 billion in the prior year period.
Earnings per share declined to SEK 3.81 from SEK 3.83 last year. Operating profit for the third quarter reached SEK 9.41 billion, representing a 3 percent decrease from SEK 9.719 billion a year ago.
Total operating income fell slightly to SEK 18.626 billion from SEK 18.664 billion in the prior year quarter. Net interest income increased 3 percent to SEK 10.881 billion from SEK 10.540 billion last year. Net fee and commission income rose 7 percent to SEK 6.702 billion from SEK 6.287 billion a year ago.
Meanwhile, net financial income declined 36 percent to SEK 1.124 billion from SEK 1.767 billion in the prior year period. The bank attributed the decline to muted client activity and a challenging market-making environment for fixed income, foreign exchange, and commodities operations.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
