Skandinaviska Enskilda Banken

Skandinaviska Enskilda Banken AB

Type	Publicly traded Aktiebolag
Traded as	OMX: SEB A
Industry	Financial services
Predecessor	Stockholms Enskilda Bank (established in 1856) Skandinaviska Banken (established in 1864)
Founded	1972 (1972)
Headquarters	Stockholm, Sweden
Key people	Annika Falkengren (President and CEO), Marcus Wallenberg (Chairman)
Products	Retail banking, merchant banking, wealth management, life insurance, pensions
Revenue	SEK 46.94 billion (2014)[1]
Operating income	SEK 23.35 billion (2014)[1]
Profit	SEK 19.219 billion (2014)[1]
AUM	SEK 1.708 trillion (end 2014)[1]
Total assets	SEK 2.614 trillion (end 2014)[1]
Total equity	SEK 134.54 billion (end 2014)[1]
Owner	Investor AB (20%)
Number of employees	15,714 (FTE, end 2014)[1]
Website	www.sebgroup.com

SEB's corporate headquarters at Kungsträdgården 8 in Stockholm

Skandinaviska Enskilda Banken AB (Swedish pronunciation: [skandɪˈnɑːvɪska ˈeːnˈɧɪlda ˈbaŋːkən], Scandinavian Individual Bank), abbreviated SEB, is a Swedish financial group for corporate customers, institutions and private individuals with headquarters in Stockholm, Sweden. Its activities comprise mainly banking services, but SEB also carries out significant life insurance operations and also owns Eurocard. The bank was founded and is controlled by the Swedish Wallenberg family through their investment company Investor AB.

History

In 1972, Stockholms Enskilda Bank (established in 1856 by André Oscar Wallenberg) and Skandinaviska Banken (established in 1864) merged to form SEB. Reasons for the merger included creating a bank better positioned to serve corporate clients and to fend off competition from major international banks.

SEB acquired Swedish insurance company Trygg-Hansa in 1997, and integrated its life insurance activities. The property and casualty insurance portion of Trygg-Hansa was later sold.

In 1998, the company changed its logo and brand name from SE-Banken to SEB. At the end of that same year, SEB bought its first shares of the three Baltic banks Eesti Ühispank (Estonia), Latvijas Unibank (Latvia) and Vilniaus Bankas (Lithuania).^[2] In 2000, SEB acquired Germany’s Bank für Gemeinwirtschaft (BfG) and the remaining parts of the three Baltic banks.^[3]

In early 2001, the company announced plans for a merger with the FöreningsSparbanken (now Swedbank), which was called off when the European Commission demanded major concessions for its approval.

After several years of weak profitability, SEB sold its German retail banking operations to Spain's Banco Santander in January 2011.^[4]

SEB sold its retail banking operations in Ukraine to Eurobank Group in June 2012.^[5]

Business

In Sweden and the Baltic countries, SEB is a universal bank, offering financial advice and a wide range of financial services to all customer segments. In Denmark, Finland, Norway and Germany the bank’s operations have a strong focus on a full-service offering to corporate and institutional clients. SEB also have branches or representative offices in New York, São Paulo, London, Luxembourg, Geneva, Warsaw, Moscow, St Petersburg, Kiev, Beijing, Shanghai, Hong Kong, Singapore and New Delhi.

SEB serves 3,000 corporate and institutional customers, 400,000 small and medium-sized enterprises (SMEs) and more than 4 million individuals.^[6]

Since January 2016, the company is operating through four business divisions; Large Corporates & Financial Institutions, Corporate & Private Customers, Life & Investment Management and Baltic.^[6]

Corporate social responsibility

Since 2009, SEB has published a separate corporate sustainability report in line with Global Reporting Initiative (GRI) guidelines.^[7] SEB is also committed to global initiatives such as the United Nation’s Global Compact, the principles for responsible investments, and the Equator principles.^[8]

Since 2011, SEB has published sector policies for the renewable energy, arms & defence, shipping, mining & metals, fossil fuel and forestry industries. In addition, the company has position statements regarding climate change, freshwater and child labour.^[6]

Subsidiaries

• Skandinaviska Enskilda Banken A/S (Denmark)
• SEB Pank (Estonia)
• SEB AG (Germany)
• SEB Banka (Latvia)
• SEB bankas (Lithuania)
• SEB Corporate Bank (Ukraine)
• SEB Bank (Russia)
• SEB SA (Luxembourg)

References

External links

• Official website

Data

• Yahoo! - Skandinaviska Enskilda Banken AB Company Profile

OMX Stockholm 30 companies of Sweden ABB Alfa Laval Assa Abloy AstraZeneca Atlas Copco Boliden Electrolux Ericsson Getinge Hennes & Mauritz Investor AB Kinnevik Lundin Petroleum Modern Times Group Nokia Nordea Sandvik SCA SEB Securitas Skanska SKF SSAB Svenska Handelsbanken Swedbank Swedish Match Tele2 TeliaSonera Volvo

Members of Euro Banking Association Austria Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol Aktiengesellschaft Steiermärkische Bank und Sparkassen AG Belgium Dexia Bank NV KBC Bank NV Bank van De Post Cyprus Bank of Cyprus Hellenic Bank Denmark Amagerbanken A/S Arbejdernes Landsbank A/S Danske Andelskassers Bank A/S Danske Bank A/S DiBa Bank A/S Djurslands Bank A/S Jyske Bank A/S Nordjyske Bank A/S Nørresundby Bank Østjydsk Bank A/S Ringkøbing Landbobank Roskilde Bank A/S Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank A/S Vestfyns Bank A/S Vestjysk Bank Finland Aktia Bank PLC Bank of Åland PLC Pohjola Bank PLC S-Bank LTD. Tapiola Bank LTD France Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas SA BPCE BRED Banque Populaire Crédit Agricole SA Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale Germany Berenberg Bank BHF Bank Bremer Landesbank Commerzbank AG Deutsche Bank AG Deutsche Bundesbank Deutsche Postbank DZ Bank AG Europe Arab Bank Frankfurt Hamburger Sparkasse AG J.P. Morgan Chase Bank AG Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss EURO CLEARING Bank GmbH The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland) AG Greece Alpha Bank SA Eurobank Ergasias SA National Bank of Greece SA Piraeus Bank SA Hungary Magyar Nemzeti Bank OTP Bank FHB Mortgage Bank Merkantil Bank Kereskedelmi és Hitelbank Magyar Takarékszövetkezeti Bank MKB Bank Porsche Bank Hungaria Kinizsi Bank MagNet Bank Hanwha Bank Budapest Hitel- és Fejlesztési Bank Ireland Allied Irish Banks Bank of Ireland Italy Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banca Tercas Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca Luxembourg Banque et Caisse d'Épargne de l'État Banque Raiffeisen Dexia Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust Netherlands ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland Poland Bank BPH SA Narodowy Bank Polski Portugal Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco Slovenia Banka Slovenije Spain Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A. Sweden Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB United Kingdom Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DNB Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA Non-EU Bank of China (CHN)