Interim Report Jan-March 2003

    Interim Report January-March 2003

Result supported by lowest cost level since 1999
*    Operating result* SEK 1,792 M, 5 per cent lower than Q1 2002 on
     comparable basis
*    Total income SEK 6,579 M, a decrease of 5 per cent on comparable
     basis
*    Total costs SEK 4,551 M, down by 5 per cent on comparable basis
*    Annualised costs further reduced to SEK 19.5 billion
*    Credit losses remained at low level
*    Return on equity 10.9 per cent (12.4) and earnings per share SEK
     1.81 (1.98)
*    Strong sales in the Group's retail divisions.

* Includes pension compensation of SEK 161 M (294). Statutory operating
profit (excluding pension compensation) amounted to SEK 1,631 M (1,722).

Stockholm, 8 May 2003

Lars H Thunell
President and Group Chief Executive

More detailed information is presented on www.seb.net. The "Additional
information" includes:
Appendix 1     SEB Trygg Liv
Appendix 2     Credit exposure
Appendix 3     Capital base for the SEB financial group of undertakings
Appendix 4     Market risk

Operational Profit & Loss Account quarterly performance nine quarters
- The SEB Group
- Bridge between present and previous accounting principles
- The Divisions and business areas
- Revenue split
- One-off items

Statutory Profit & Loss Account etc
- The SEB Group
- Skandinaviska Enskilda Banken

Further information is available from:
Gunilla Wikman, Head of Group Communications, [phone], mobile
[phone]
Per Anders Fasth, Head of Group Investor Relations, [phone]

Financial information during 2003:
13 February 2003         Annual Accounts 2002
9 April 2003             Annual General Meeting
8 May 2003               Interim Report January-March
14 August 2003           Interim Report January-June
22 October 2003          Interim Report January-September

This interim report has not been reviewed by the Auditors of the Bank.