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# SEB Reports Q1 2025 Net Profit of SEK 7.824 Billion as Lower Deposit Margins Weigh on Income
- URL: https://www.theglobalbanker.com/seb-q1-2025-net-profit-sek-7824-billion-deposit-margins/
- Published: 2025-04-29T15:59:00.000Z
- Updated: 2026-10-02T14:36:05.000Z
- Description: SEB posted Q1 2025 net profit of SEK 7.824 billion, down 18% year-on-year, as net interest income fell 11% on lower deposit margins, though fee income rose 19%.
- Author: TGB Editorial Team
- Tags: Banking News, Europe, #archive

Skandinaviska Enskilda Banken reported net profit of SEK 7.824 billion for the first quarter of 2025, an 18% decline year-on-year, as narrowing deposit margins weighed on net interest income and pushed operating profit lower. 

Operating profit for the quarter came in at SEK 9.95 billion, down 19% compared with Q1 2024, while return on equity stood at 13.4%. The Common Equity Tier 1 ratio was 17.5%. Earnings per share were SEK 3.89 for the period, and net profit rose 4% quarter-on-quarter.

#### NET INTEREST INCOME FALLS ON MARGIN PRESSURE

Net interest income declined 11% year-on-year to SEK 10.5 billion, the primary driver of the overall earnings decline. The contraction reflected lower deposit margins. Total operating income fell 4% year-on-year to SEK 19.8 billion.

Despite the pressure on interest income, net fee and commission income grew 19% year-on-year, helped by the consolidation of AirPlus, higher card and payment activity and record equity capital markets activity. 

Net expected credit losses reached SEK 663 million in Q1 2025, an increase from SEK 73 million recorded in Q1 2024\. SEB said the increase related to a few counterparties in different industries and countries, and that overall asset quality was stable.