Allan Parik on SEB’s financial results: private individuals are active, while businesses remain cautious

Today, the SEB Group published its financial results for the first quarter of 2026, which can be found at www.sebgroup.com/ir

Allan Parik, Chairman of the Board of SEB Pank, commented on the results of SEB units in Estonia as follows:

Business activity has picked up at the beginning of 2026, which also supported SEB’s strong financial results. SEB’s focus in recent years has been on building an efficient and sustainable business model for the bank. We have done a good job developing investment products for private customers as well as supporting the growth ambitions of business customers. The effectiveness of our work is confirmed by the customer satisfaction indicator, which was the highest in SEB’s history in the first quarter.

SEB’s loan portfolio grew 7.6 per cent year-on-year in Estonia and now amounts to 7.8 billion euros. We issued new loans and leases in the amount of 197 million euros to private customers in the first quarter of the year, which is 13 per cent more than in the first quarter of last year. The car leasing market, which shows signs of recovery, contributed to the result of the new sales to private customers. The demand for loans from business customers was twice as high as a year ago, but the environment remains tense. Transactions continue to be dominated by real estate, energy, and corporate acquisitions.

Deposits at SEB grew by 1.2 per cent over the year, reaching nearly 6.5 billion euros. Growth is being driven by private customers, whose deposits at SEB increased by 4.9 per cent over the year. In the field of savings, savings deposits are popular, the volume of which has grown by 34.7 per cent over the past year. It is good to see that people in Estonia are thinking about securing their future and making active decisions to that end. This is supported by SEB’s attractive pricing of investment products, which brings new customers. In the first quarter, we gained 1,000 new investors, and 2,100 people opted for our innovative third-pillar pension solution. We are continuing to promote investing, and the biggest investment game in Estonia is currently underway, with more than 8,500 participants investing 10,000 euros in virtual money to gain the experience that there is never a bad time to start investing.

SEB Pank Grupp (‘the Group’) ended the first quarter of 2026 with a profit of 39.3 million euros (compared to 43.3 million euros in the first quarter of 2025). The operating income of the Group reached 70.4 million euros (74.9 million euros in the first quarter of 2025) and operating expenses 22.9 million euros (22.1 million euros in the first quarter of 2025). The Group increased its net expected credit losses by 0.3 million euros (there was an increase of 0.9 million euros in the first quarter of 2025). Income tax was calculated at 7.9 million euros (8.6 million euros in the first quarter of 2025).

Additional information:

Kristi Jänes
Communications Manager
Marketing and Communications Division
SEB

Tornimäe 2, 15010, Tallinn
Phone +372 665 5399
Mobile +372 5569 0616
Email kristi.janes@seb.ee