Although the revenue of Swedish financial group SEB increased 10.9 percent on year in the first quarter of 2017, the group's Estonian units earned a total of €12.5 million of net profit in the first quarter, 2.3 percent less than during the first quarter of 2016.
In the first quarter of 2017, SEB Estonia paid a total of €30 million in dividends to the parent company, €7.5 million of which was paid as income tax to public revenues. SEB's dividend payments to the parent company have increased year over year, the bank reported.
Last year, SEB Estonia paid dividends in the sum of €20 million and in 2015 in the sum of €10 million. It also paid a total of €67.7 million into the state treasury in taxes last year, including withheld taxes from employees.
SEB's operating income in the first quarter was €35.3 million and operating expenses totaled €15.3 million. The bank reduced loan loss provisions by €100,000 in the first quarter.
Editor: Aili Vahtla