UBS Starts CarTrade Tech With Buy Rating, Sees Strong Earnings Growth and ₹4,000 Target 
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business 
Muji Owner Ryohin Keikaku Stock Soars After Raising Full-Year Earnings Forecast 
Australia Flags Child Safety Gaps at Apple, Meta, Google Over Online Sexual Extortion 
Richemont Q1 Sales Beat Forecast as Cartier Demand Drives Strong Growth 
Mastercard Explores Sale of Majority Stake in UK Payments Firm Vocalink: Report 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
BHP Faces Major Port Hedland Strike as Labor Talks Stall Ahead of Production Report 
Nvidia Tightens AI Chip Sales in Asia With Stricter Customer Approval Process 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
ASML Raises 2026 Outlook as AI Chip Demand Lifts Q2 Earnings 
DBS Targets S$1 Trillion Wealth AUM by 2030 Amid Asia Wealth Boom 
SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
Taiwan Mangoes Head to Europe as Premium Fruit Exports Expand 
Genesis Minerals to Acquire Vault in A$5.6 Billion Deal After Regis Withdraws 
Swedish bank Skandinaviska Enskilda Banken (SEB) reported stronger second-quarter 2026 earnings, supported by robust client activity, higher corporate lending, and record fee income, while unveiling a new share buyback program to return capital to shareholders.
SEB posted operating profit of 10.77 billion Swedish crowns ($1.12 billion) for the April-June quarter, up 4% from the same period a year earlier. Net profit increased 5% to 8.66 billion crowns, reflecting steady business growth and resilient customer demand.
Total operating income rose 3% year-over-year to 20.06 billion crowns, driven by record net fee and commission income of 7.19 billion crowns alongside higher net financial income. Net interest income also improved 1% to 10.69 billion crowns, benefiting from stronger lending volumes and stable to higher policy interest rates, despite ongoing pressure on mortgage lending margins in Sweden.
Customer lending expanded 4% from the previous quarter to 2.41 trillion crowns, fueled by increased borrowing from large corporate clients. Customer deposits also climbed to 2.03 trillion crowns, highlighting continued confidence in the bank. Meanwhile, assets under management reached a record 3.07 trillion crowns, supported by favorable market performance and net inflows totaling 11 billion crowns.
SEB also reported improving credit quality during the quarter. Net expected credit losses declined to 345 million crowns from 546 million crowns in the previous quarter, underscoring the resilience of its loan portfolio despite an uncertain economic environment.
The bank maintained its 2026 cost target of approximately 33.3 billion crowns, plus or minus 250 million crowns at current exchange rates, while continuing to invest in technology upgrades and artificial intelligence initiatives aimed at strengthening long-term efficiency and customer services.
In addition, SEB's board approved a new quarterly share buyback program worth 1.25 billion crowns after successfully completing its previous repurchase plan, reinforcing the bank's commitment to delivering shareholder value while maintaining a solid financial position.
