SEB’s wholesale funding doubles following reporting error
Front-loading of 2023 funding plan contributes to Skr500 billion increase in H1
Skandinaviska Enskilda Banken (SEB) doubled its reliance on wholesale funding in the six months to end-June, increasing obligations by Skr500.8 billion ($48.9 billion), or 101%.
The Swedish lender ended the second quarter with Skr994.7 billion of wholesale funds outstanding, the highest since the bank started disclosing net stable funding ratio (NSFR) figures in Q2 2021. Following the latest increase, wholesale funding makes up more than 56% of the bank’s available stable funding (AFS) of Skr1
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