SEB Estonia's 2019 annual profit up by €37 million
SEB Estonia earned a profit of €100.4 million in 2019, up from €63.7 million in 2018.
In 2019, SEB financed the plans of commercial enterprises with more than €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 percent and individuals' portfolios by 8.4 percent on year. Private individuals' deposits were also up 9.1 percent on year.
The bank's operating revenue totaled €173.5 million in 2019, up from €155.9 million on year, while operating expenditures reached €59.8 million, up from €57.2 million in 2018.
SEB Estonia reduced loan loss provision by €3.8 million. In 2018, the bank increased its provisions by €900,000.
SEB paid €17.1 million in income tax in 2019, nearly half the amount the bank paid in 2018.
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Editor: Aili Vahtla
