Skandinaviska Enskilda Banken Earnings: Corporates' Wait-And-See Approach Could Weigh on Demand

Skandinaviska Enskilda Banken reported first-quarter operating profits of SEK 9.954 billion, down 19% versus the same period last year. Lower interest rates dragged net interest income down 11% to SEK 10.469 billion. However, higher client activity in the corporate and investment banking segment offset some of this weaker but expected performance. Net payment and card fees also contributed strongly. Net credit losses of 9 basis points were above levels through last year, driven by a few single exposures.