Skandinaviska Enskilda Banken's Efficiency May Have Peaked; Well-Run Bank With Growth Opportunities

Skandinaviska Enskilda Banken's focus on corporate lending and advisory banking services results in a healthy diversification between spread- and fee-based income streams. The bank runs a very efficient banking operation that has been supported by higher central bank interest rates over the last couple of years. Investments into a branch reduction and digitzation of offerings have paid off. With central bank rates normalizing again, we expect effiiency to revert to a longer-term historical average, as well.