The Pfandbrief 2011 | 2012
The Pfandbrief 2011 | 2012
The Pfandbrief 2011 | 2012
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In 2000, SEB AG became the German subsidiary of one of Northern Europe’s most pre-eminent financial<br />
services groups which is based in Sweden. <strong>The</strong> core business lies in the field of banking, financial and<br />
insurance services for companies, institutions and real estate clients. Across Europe, SEB Group has more<br />
than 4 million customers and runs the banking business in more than 375 branches.<br />
In 2005 SEB harnessed the business opportunities that had opened up under the new <strong>Pfandbrief</strong> Act. It<br />
was the first German commercial bank to be granted a <strong>Pfandbrief</strong> license from BaFin (Federal Financial<br />
Supervisory Authority). In this context, a merger between former subsidiary SEB Hypothekenbank AG and<br />
its parent SEB AG took place, thus effectively aggregating both banks’ respective commercial real estate<br />
financing, private real estate finance as well as their respective activities in the field of public sector loans.<br />
This also led to a widening of the basis for funding by means of SEB <strong>Pfandbrief</strong>e.<br />
Rating: Public Mortgage Short-term Long-term<br />
<strong>Pfandbrief</strong>e <strong>Pfandbrief</strong>e liabilities liabilities<br />
Moody‘s Aa1 Aa1 P-2 Baa1<br />
Standard & Poor‘s – – A-2 A-<br />
Selected key figures<br />
2010<br />
€ million<br />
2009*<br />
€ million<br />
Total assets<br />
49,082<br />
52,743<br />
Real estate financings<br />
11,370<br />
12,108<br />
Residential loans<br />
7,794<br />
8,167<br />
Commercial loans<br />
3,547<br />
3,941<br />
140<br />
of which cross-border<br />
New mortgage loans<br />
802<br />
1,052<br />
744<br />
704<br />
Residential loans<br />
416<br />
479<br />
Commercial loans<br />
636<br />
225<br />
of which cross-border<br />
3<br />
4<br />
Public-sector loan portfolio<br />
3,441<br />
4,475<br />
of which cross-border<br />
96<br />
180<br />
New public-sector loans<br />
210<br />
227<br />
of which cross-border<br />
1<br />
0<br />
Total funds outstanding (registered and bearer bonds)<br />
Mortgage <strong>Pfandbrief</strong>e<br />
3,526<br />
3,764<br />
Public <strong>Pfandbrief</strong>e<br />
5,756<br />
9,177<br />
Jumbo issues outstanding<br />
2,000<br />
5,125<br />
<strong>Pfandbrief</strong>e issued<br />
Mortgage <strong>Pfandbrief</strong>e<br />
434<br />
1,604<br />
Public <strong>Pfandbrief</strong>e<br />
750<br />
0<br />
Own funds as shown in the balance sheet – total –<br />
Core capital (without net income)<br />
2,321<br />
2,409<br />
Profit-sharing capital<br />
35<br />
52<br />
Subordinated liabilities<br />
16<br />
23<br />
Net interest income<br />
252<br />
224<br />
Administrative expenditure<br />
183<br />
156<br />
Operating result before provisions for risks<br />
48<br />
76<br />
Provisions for risks<br />
15<br />
30<br />
Operating result after provisions for risks<br />
33<br />
46<br />
Result from discontinued operation<br />
-119<br />
-61<br />
Income for the year<br />
-86<br />
-15<br />
Profit transfer<br />
0<br />
-74<br />
* According to IFRS 5 discontinued Operations<br />
Presence in electronic media: Reuters, Bloomberg<br />
Contact:<br />
Karl Borgmeyer Tel.: + 49 69 258 6772 E-Mail: Karl.Borgmeyer@seb.de
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