1323 GMT - The SEB earnings consensus is unlikely to change much after an unexciting fourth quarter and as the new 2025-2027 business plan is in line with expectations, JPMorgan analysts write. SEB reported fourth quarter net income that was 1% below consensus, while net interest income was 3% ahead, the analysts say. Fees and costs were in line with expectations. Despite better-than-expected net interest income, JPMorgan expects limited changes to consensus as it believes some of the beat is due to timing issues. SEB's new 2025 cost guidance is also in line. "Overall we would expect a muted share price reaction for SEB post these results given current valuation, slightly lower than expected CET1 and lack of upgrades coming." Shares trade 4.8% lower at 156.75 Swedish kronor. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 08:23 ET (13:23 GMT)
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