SEB reaps rewards from savings focus

The drop in operating profit is due to the mutual funds unit not being able to replicate the "exceptionally strong" level of performance fees it reached in Q1. But the underlying business is still strong, CEO Javiera Ragnartz tells AMWatch.

Javiera Ragnartz, CEO of SEB IM | Photo: Pressebillede, AMF

Yesterday's second quarter report from SEB showed that the bank’s mutual fund division, SEB Investment Management, had a 17 percent drop in operating profit from the first quarter. After Q1 it amounted to SEK 565m (EUR 55m) and has dropped to SEK 466m (EUR 45m) at the end of Q2.

Exceptional performance fees in Q1

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