SEB Bank’s Financial Performance and Market Report in Estonia

SEB’s operating income in the first nine months of this year in Estonia reached 263.2 million euros, while operational costs were 57 million euros. In January-September 2022, these indicators were 140.6 million euros and 48.1 million euros, respectively.

Allan Pariks, chairman of the board of “SEB Pank”, stated that the amount paid to customers as deposit interest has increased. In the first nine months of last year, it was 1.1 million euros, but this year, almost 35 million euros have already been paid out to clients as interest on deposits. 30% of private clients’ funds are deposited in term deposits.

Lending to businesses has shrunk by 2.9% over the year, as companies cut back on new investment and use savings amid tough economic conditions.

This year, SEB has financed the purchase of almost 2,900 homes in Estonia, with the bank’s total loan portfolio growing by 3%.

At the end of September, the amount of deposits of individuals in “SEB Pank” increased by 0.8% year-on-year. In the bank’s assessment, the general financial situation of households is strong, which is confirmed by the fact that there are almost no delays in loan payments.

The Estonian “SEB Pank” group is part of the Swedish financial services group “Skandinaviska Enskilda Banken” (SEB).

2023-10-25 09:08:00
#SEBs #profit #Estonia #doubled #months #year