Skandinaviska Enskilda Banken AB (SEB) has demonstrated strong earnings capacity during the pandemic, supporting our view of the bank's overall credit profile. Furthermore, the bank has been steadfast in building bail-in-able debt buffers that reinforce our view of its additional loss-absorbing capacity (ALAC). As such, we have affirmed our 'A+/A-1' ratings on the bank. The outlook is stable because we anticipate that SEB's earnings will remain robust and support its credit profile. On July 11, 2022, S&P Global Ratings affirmed its 'A+/A-1' long- and short-term issuer credit ratings on SEB. The outlook is stable. At the same time, we affirmed our 'AA-'/'A-1+' resolution counterparty ratings. Our stable outlook reflects our view that SEB's earnings will remain robust and support their
