Skandinaviska Enskilda Banken's focus on corporate lending and advisory banking services results in a healthy diversification between spread- and fee-based income streams. We like the group’s achievements in its efficiency programmes, keeping costs virtually flat for almost a decade.
More than half of SEB’s operating profit comes from Sweden, which we consider to be one of the most economically stable banking systems in our coverage.
Although the Baltic operations only contribute about 8% to SEB's income, the region has resulted in elevated levels of bad loans on SEB's balance sheet in the past and could do so again in future.
|
Metric
|
SEB A
|
NDA SE
|
SHB A
|
|---|---|---|---|
Price/Earnings (Normalized) | 6.78 | 7.25 | 7.19 |
Price/Book Value | 1.21 | 1.21 | 0.96 |
Price/Sales | 3.41 | 3.17 | 3.26 |
Price/Cash Flow | — | 6.73 | 6.80 |
|
Metric
|
SEB A
|
NDA SE
|
SHB A
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
|
Metric
|
SEB A
|
NDA SE
|
SHB A
|
|---|---|---|---|
Return on Assets (Normalized) | 0.96% | 0.84% | 0.74% |
Return on Equity (Normalized) | 18.36% | 17.39% | 13.93% |
Return on Invested Capital (Normalized) | — | — | — |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|
BNPQY
| BNP Paribas ADR | Hmhg | $71.9 Bil | |
USB
| U.S. Bancorp | Slt | $58.8 Bil | |
ITUB
| Itau Unibanco Holding SA ADR | Rnchb | $57.9 Bil | |
ISNPY
| Intesa Sanpaolo ADR | Pyqq | $53.1 Bil | |
PNC
| PNC Financial Services Group Inc | Ldngcpq | $52.7 Bil | |
TFC
| Truist Financial Corp | Rkgngg | $42.9 Bil | |
MFG
| Mizuho Financial Group Inc ADR | Gqwh | $42.8 Bil | |
LYG
| Lloyds Banking Group PLC ADR | Qyzbcd | $35.1 Bil | |
BBD
| Bank Bradesco SA ADR | Rnyf | $33.1 Bil | |
DB
| Deutsche Bank AG | Vql | $24.9 Bil |
