SEB says that their profit for the third quarter reached over SEK 3.9 billion. Operating profit for the third quarter amounted to SEK 3,862 million, an increase of 28 percent compared with the corresponding quarter of 2005 and in line with the previous quarter. Net profit increased to SEK 3,059 million.
Operating profit from January-September 2006 increased by 32 per cent, to SEK 11,438 million. Net profit rose by 36 percent, to SEK 8,833 million. Return on equity was 19.9 percent, and cost/income ratio improved to 0.59.
“SEB’s quarterly net profit exceeded SEK 3 billion for the first time,” says Annika Falkengren, the President of SEB. “Return on equity was close to 20 percent and profit growth remained strong. Even though costs were higher than last year they were down for the third consecutive quarter, our efforts to improve operational efficiency continue.”