SEB releases final quarterly report

One of Sweden’s largest banks SEB reported a solid profit for the fourth quarter of 2011, Swedish Radio News reports.

Although the US$ 475 profit was lower than last year it was in line with analysts’ expectations and a sign that the bank is doing well.

CEO Annika Falkengren was positive but also said that global economic instability and new rules and regulations will increase the costs for Swedish banks in the coming year.