SEB Pank
SEB’s operating result in Estonia amounted to EEK -40m for the first quarter in 2009

SEB Pank / 

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Tallinn, 24 April 2009
Announcement

SEB Group operating profit for the first quarter 2009: SEK 1.8bn
SEB's operating result in Estonia amounted to EEK -40m for the first quarter in
2009 

SEB Estonia
	Operating result for the first quarter 2009 was EEK -40m (EEK 13m in Q1
2008). 
	Operating income for Q1 2009 was EEK 530m (EEK 605m), a decrease of 12 per
cent. 
	Operating costs in Q1 2009 was EEK 279m (EEK 299m), a decreased of 6 per cent.
	Provisions for additional potential credit losses in Q1 2009 were EEK 281m
(EEK 295m). 
	Lending volumes decreased 3 per cent, deposits volumes were in the same level
of Q1 2008. 
	The client base of SEB grew by 6 117 clients in Q1 and reached 811 909
clients. 
	The success of SEB Packages continued - the total number of clients who use
package-based pricing increased by more than a half in 2009 and reached 87,000.
SEB Packages won the title of Most Innovative Marketing Deed of 2008 awarded
within the framework of the Year of Innovation. 
	The number of people who have joined the SEB Pension Plan doubled in Q1 and
as many as 20,000 clients are now using the new systematic approach in saving
for their retirement. 
	SEB started offering Cash Management consultations also to SMEs in Q1.

Ahti Asmann, Head of SEB in Estonia, comments on the result: As forecasted,
Estonian macro environment continued to deteriorate in Q1. Despite of the
decrease of loan portfolio due to very low demand, customer activity remained
high. We have increased general provision, since we think that macro
environment will deteriorate even further. SEB will continue to focus on loan
portfolio quality, customer relationships and cost base. 

SEB Group

	Operating profit before provisions for credit losses amounted to SEK 4,186m
(2,771). Operating profit was SEK 1,802m (2,410) 
	Operating income rose by 30 per cent and operating expenses by 10 per cent
compared with the first quarter of 2008. 
	Provisions for credit losses increased, to SEK 2,386m (364).
	Return on equity was 4.9 per cent (9.6) and earnings per share SEK 1.03
(1.92). 
	SEB's rights issue of SEK 15.1bn was successfully completed. Tier I capital
ratio was 12.0 per cent (9.7). 

Annika Falkengren, President and CEO: SEB's underlying business has started
the year on a strong note. Continued high earnings capacity going forward and
the increased capital strength after the rights issue will provide a
substantial buffer to withstand further expected deterioration of overall
business conditions. 


SEB is a North European financial group serving some 400,000 corporate
customers and institutions and five million private individuals. SEB offers
universal banking services in Sweden, Germany and the Baltic countries -
Estonia, Latvia and Lithuania. It also has local presence in the other Nordic
countries, Poland, Ukraine and Russia and a global presence through its
international network in major financial centers. On 31 December 2008, the
Group's total assets amounted to SEK 2,511bn (~EUR 230bn) while its assets
under management totalled SEK 1,201bn (~EUR 110bn). The Group has about 22,000
employees. Read more about SEB at www.sebgroup.com. 


Further information information, please contact:
Ahti Asmann, Head of SEB in Estonia tel. + 372 66 55 300
Silver Vohu,. Head of Communication in Estonia, tel. + 372 66 55 393
Ulf Grunnesjö, Head of Group Investor Relations, +46 8 763 85 01; +46 70 763 85
01 

News Source: NASDAQ OMX

24.04.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       SEB Pank
              
               
              Estonia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         EE3300091073
WKN:          
 
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