Entering text into the input field will update the search result below

Skandinaviska Enskilda Banken AB (publ.) (SKVKY) Management on Q1 2020 Results - Earnings Call Transcript

SA Transcripts profile picture
SA Transcripts

Skandinaviska Enskilda Banken AB (publ.) (OTCPK:SKVKY) Q1 2020 Earnings Conference Call April 29, 2020 3:30 AM ET

Company Participants

Johan Torgeby - President & Chief Executive Officer

Masih Yazdi - Chief Financial Officer

Conference Call Participants

Magnus Andersson - ABG

Chris Hartley - Redburn

Andreas Hakansson - Danske Bank

Sofie Peterzens - JPMorgan

Nicolas McBeath - DNB Markets

Martin Leitgeb - Goldman Sachs

Johan Torgeby

Thank you very much. And I'd like to extend a warm welcome to everyone in these extraordinary times and say that this is the first phone and web-based PowerPoint presentation that we have done in many years, but thank you everyone for joining.

A practical comment. If you haven't seen the presentation that we will refer to on this call, you can go into sebgroup.com and under the tab Investor Relations we have posted the PowerPoint presentation, which we will refer to on this call.

Starting on page 2, the macroeconomic backdrop is not a surprise to anyone, but at least some reflections. We have seen a sharp fall in share prices. However, year-to-date they are still not anywhere close to the largest falls we've seen in history associated with traditional stock market crashes. However, volatility is exceptional and the speed and magnitude of the fall was very unusual.

Credit spreads have widened significantly and come in about a quarter or so since quarter end, but we can see a massive spread widening both for high yield and investment grade. And as always we also include SEB, which shows the same pattern but to a less magnitude. The credit spreads are a key component to understand the context of this quarter's result as it affects many areas of the bank. Lastly, interest rates are modestly down, highly volatile so they go down and up during the quarter and has less of an

Recommended For You


To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.