A deal struck Tuesday will see high street commercial banks such as Swedbank and SEB, both Scandinavian-owned, escape a new bank tax proposed by the Social Democrats, (SDE), but by paying more dividends next year.

Source: https://news.err.ee/1609105835/isamaa-leader-slams-coalition-s-pact-with-the-major-banks

I also believe there are some company-specific attributes that will help SEB through this next phase.

Source: https://seekingalpha.com/article/4631555-seb-looks-undervalued-today-but-near-term-results-have-likely-peaked-and-challenges-are-mounting?source=feed_all_articles

Like many banks, including peers in the Nordic region, SEB has been benefiting from a healthy tailwind of higher earning yields on loans and securities, still-healthy loan demand, and very low credit losses.

Source: https://seekingalpha.com/article/4631555-seb-looks-undervalued-today-but-near-term-results-have-likely-peaked-and-challenges-are-mounting?source=feed_all_articles

SEB board chair Allan Parik said that in addition to interest rates, customer uptake was a factor – though this in effect is related to interest rates anyway if talking about savers.

Source: https://news.err.ee/1609037960/economist-estonian-banks-can-boost-their-profits-further-still

SEB offers a similar product and a rate of 1.8 percent.

Source: https://news.err.ee/1609092941/seb-plans-to-pay-interest-on-demand-deposits