SEB Reports Full-Year 2024 Net Profit of SEK 35.87 Billion as ROE Exceeds Target and Bank Announces SEK 11.50 Dividend Per Share

Sweden's SEB reported a full-year 2024 net profit of SEK 35.87 billion, down 6% from SEK 38.1 billion, on 29 January, as the bank surpassed its long-term return on equity target and proposed a combined dividend of SEK 11.50 per share alongside a SEK 10 billion share buyback programme. The results were published in the bank's annual accounts on its website.

Return on equity reached 16.2% for the year, clearing the bank's stated 15% threshold. Total operating income rose 2% year on year to SEK 81.9 billion, and total assets on the balance sheet stood at SEK 3.76 trillion at the end of the period.

INCOME AND CAPITAL

Sweden's central bank moved to ease monetary policy during 2024 as domestic inflation moderated.

The Common Equity Tier 1 ratio came in at 17.6%.

DIVIDEND AND BUYBACK PROGRAMME

The board proposed an ordinary dividend of SEK 8.50 per share for the 2024 financial year, supplemented by a special dividend of SEK 3.00 per share, bringing the total proposed distribution to SEK 11.50 per share.

In addition to the dividend, SEB said it had received approval from the Swedish Financial Supervisory Authority to buy back shares worth up to SEK 10 billion until the end of January 2026. The proposed dividends are subject to shareholder approval at the annual general meeting.