Diversified revenue base and entrenched franchise in core business areas Improving cost efficiency and risk-adjusted pricing Low provisioning requirements and stable asset quality Still-significant exposure to the weak German banking market, where SEB is underperforming relative to group financial targets Despite considerable progress, the group still has a higher cost base than regional peers Low interest rates will continue to be a challenge for revenue generation in the short term The ratings on Sweden-based Skandinaviska Enskilda Banken AB (SEB) reflect the successful defence of the group's core franchise in corporate banking, as well as the group's heightened attention to risk-adjusted earnings. Moreover, the retail business in Sweden is developing strongly and is contributing positively to group performance, along with asset
