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Swedish bank serving large corporates and institutions alongside retail/private banking, with a strong Nordic and Baltic corporate franchise.
Swedish bank serving large corporates and institutions alongside retail/private banking, with a strong Nordic and Baltic corporate franchise.
Earns from lending to large companies and from fees on capital-markets deals, trading, cash management and asset management; savings and life products add recurring fees. Investor AB, the Wallenberg family's holding company, is its largest shareholder.
In one line: A Swedish Goldman Sachs/Wells Fargo hybrid for corporates.
Moat: narrow (scale, brand, customer qualification). Deep, long-standing relationships with Nordic large-cap corporates built over a century of corporate banking.
Headquarters: Stockholm, Sweden · Founded: 1856 · Employees: 19,922
Size Skandinaviska Enskilda Banken (SEB-A.ST) is a Sweden Financials company (Major Banks) with a market value of $42.9B, the 7th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 214.80 on 6 Nov 2026.
Performance Over six months the shares gained 19.8%, against +4.8% for the median peer and +8.2% for the Sweden market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 7.7% over the last twelve months (peer median +6.4%); the operating margin is 46.0% (peer median 38.2%).
Valuation It trades at 1.80× book value against a peer median of 1.58× (6th most expensive of 21).
Price implies The share price implies a return on equity of about 9.5%; Skandinaviska Enskilda Banken delivers 13.5%, so the price asks less than the business earns today.
Credit Skandinaviska Enskilda Banken has 36 bonds outstanding ($31.9B), rated A by the agencies and trading like A at a weighted spread of 82 bp.
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 155B | SEK 160B | SEK 194B | SEK 174B | SEK 95.0B |
| Revenue growth | — | -18% | +11% | +83% | — |
| Net income | SEK 31.0B | SEK 31.1B | SEK 35.9B | SEK 38.1B | SEK 27.0B |
| Free cash flow | n/a | SEK 31.9B | SEK 22.3B | SEK 37.8B | SEK 63.9B |
| Capital expenditure | SEK 0 | SEK 1.35B | SEK 1.19B | SEK 1.04B | SEK 1.03B |
| Total debt | SEK 1.25T | SEK 984B | SEK 1.08T | SEK 1.06T | SEK 908B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Skandinaviska Enskilda Banken SEB-A.ST | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% |
| Svenska Handelsbanken SHB-A.ST | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% |
| Swedbank SWED-A.ST | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% |
| Danske Bank A/S DANSKE.CO | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% |
| DNB Bank DNB.OL | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SEB-A.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.9% | +0.5% | 6th lowest of 21 |
| 6-month return | +19.8% | +4.8% | 5th highest of 21 |
| Return on equity | 13.5% | 14.0% | 10th lowest of 21 |
| Price / book | 1.80× | 1.58× | 6th most expensive of 21 |
| Trailing P/E | 13.7× | 12.0× | 5th most expensive of 21 |
| ROE the price implies | 9.5% | 12.2% | 8th least demanding of 21 |
| ROE delivered | 13.5% | 14.1% | 9th lowest of 20 |
| Bond spread | 82 bp | 81 bp | 7th widest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| National Bank of Canada NA.TO | Canada | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% | 14.3% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| Standard Chartered STAN.L | United Kingdom | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% | 12.8% |
| Nordea Bank Abp NDA-FI.HE | Finland | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% | 14.9% |
| NatWest NWG.L | United Kingdom | $62.3B | +4% | +3% | 16% | 1.21× | 15.8% | 15.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
| Sumitomo Mitsui Trust Gp 8309.T | Japan | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% | 10.9% |
Skandinaviska Enskilda Banken has 36 bonds outstanding with $31.9B face value. The agencies rate it A; its bonds trade like A. Weighted yield 4.08%, a spread of 82 bp over government bonds.