Stockholm - Swedish banking group SEB on Thursday said fourth-quarter 2008 operating profit declined 12 per cent year-on-year to 4 billion kronor (481 million dollars).
The bank, one of four major groups in Sweden, also said it was to make a 15-billion-kronor rights issue.
Operating income in the quarter increased 27 per cent year-on-year to 12.7 billion kronor, SEB said in its report, released a week earlier than scheduled.
The group, which also has operations in the neighbouring Baltic states and Germany, said its net credit losses were 1.7 billion kronor, mainly over provisions in the Baltic countries.