SEB Estonia earned a profit of EUR 100.4 million in 2019, up from EUR 63.7 million in 2018.
In 2019, SEB financed the plans of commercial enterprises with more than EUR 1 billion and individuals with more than half a billion euros. Last year, SEB assisted in the purchase of more than 5,000 new homes.
Businesses’ loan portfolios grew by 12.6% and individuals’ portfolios by 8.4%. Private individuals’ deposits were up by 9.1%.
The bank’s operating revenue totaled EUR 173.5 million in 2019, up from EUR 155.9 million a year earlier, while operating expenditures reached EUR 59.8 million, up from EUR 57.2 million in 2018.
SEB Estonia reduced loan loss provision by EUR 3.8 million. In 2018, the bank increased its provisions by EUR 900,000.
SEB paid EUR 17.1 million in income tax in 2019, nearly half the amount the bank paid in 2018. (ERR/Business World Magazine)