January 19, 2018 / 7:10 AM / in 5 months

BRIEF-SEB writes down shareholders equity by SEK 8.2 bln due to new accounting principles, German business transformation

* REG-SEB: DISCLOSURE OF IMPACT OF CHANGES IN ACCOUNTING PRINCIPLES, IMPAIRMENT AND OTHER ITEMS AFFECTING COMPARABILITY

* SEB AB SAYS ‍ON APPLICATION OF NEW ACCOUNTING PRINCIPLES, TECHNICAL EFFECT ON SEB LEADS TO AN OVERALL REDUCTION IN GROUP’S SHAREHOLDERS EQUITY OF SEK 6.0BN​

* SEB AB SAYS ‍OTHER ITEMS AFFECTING COMPARABILITY IN Q4 2017 RESULTS WILL AMOUNT TO SEK -1.9BN BEFORE TAX AND SEK -1.7BN AFTER TAX​

* SEB AB SAYS ‍IN TOTAL, ABOVE MENTIONED EFFECTS WILL LOWER EQUITY WITH SEK 8.2BN, CAPITAL BASE WITH SEK 4.3BN AND DECREASE CAPITAL BUFFER BY AROUND 50 BASIS POINTS​

* SEB AB SAYS ‍BUSINESS OUTLOOK REMAINS UNCHANGED AND SEB REMAINS COMMITTED TO FINANCIAL TARGETS INCLUDING A CAPITAL BUFFER OF AROUND 150 BASIS POINTS, AND COST CAP OF SEK 22BN FOR 2018.​

* SEB AB SAYS ‍IFRS-RELATED CHANGES OF SEK 6.0BN WILL TAKE EFFECT IN Q1 OPENING BALANCE 2018, AND REMAINING SEK 1.7BN IN Q4 RESULTS 2017​ Source text for Eikon: Further company coverage: (Reporting By Johan Ahlander)

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