image credit: Freepik

SEB beats profit forecasts helped by trading income, hikes dividend

January 26, 2023

Swedish banking group SEB beat fourth-quarter net profit forecasts on Thursday on higher interest income after central bank rate hikes and trading gains, prompting it to boost its proposed dividend.

Surging inflation, in part due to the energy crisis stemming from the war in Ukraine, has seen central banks crank up rates while the financial pressure on households and businesses has yet to translate into painful loan losses.