Global Research ab 15 July 2026 SEB Group Too soon to extrapolate strong Q2 trends. Neutral. EPS upgrades on higher NII and fee income SEB reported Q2 2026 earnings that were low double-digit % ahead of consensus expectations (EPS) with beats across the board, with strength in NII and fees alongside lower costs. While we are cautious to not extrapolate too much of this strength through the rest of FY26 given management called out some temporary strength in NII as well as seasonality and ramping investments ...