At the same time, SEB is bringing good news to its owners in the form of a new share buyback programme - a form of dividend.
"The board of directors has decided to use the authorization from the general meeting on March 24, 2026 to initiate a new programme to repurchase A shares for SEK 1.25 billion," the bank writes in a press release.
High activity
SEB reports a profit before items affecting comparability of SEK 10.8 billion for the second quarter of the year. This compares with a profit of SEK 10.4 billion in the corresponding quarter last year.
According to Bloomberg, analysts had on average expected a profit of SEK 10.5 billion.
"The positive momentum in revenue is a result of our long-term focus on being close to our customers, which has enabled us to seize business opportunities in a market with high activity," Johan Torgeby writes in the report.
Net interest income - what SEB earned from the difference between deposit and lending rates during the quarter - rose marginally to SEK 10.7 billion. A year earlier, net interest income was SEK 10.6 billion and analysts had on average expected it to fall to SEK 10.5 billion.
May change
Net commission income rose to SEK 7.2 billion, from SEK 6.7 billion. Expectations were SEK 6.8 billion.
Uncertainty and higher energy prices globally due to developments in the Middle East were in focus during the quarter, Torgeby notes.
"Towards the end of the quarter, sentiment improved following signals of a ceasefire and continued negotiations. However, geopolitical developments remain highly uncertain and conditions can change rapidly," Torgeby writes.
