The DSK Hyp AG (formerly SEB AG) is the
German
German(s) may refer to:
* Germany (of or related to)
** Germania (historical use)
* Germans, citizens of Germany, people of German ancestry, or native speakers of the German language
** For citizens of Germany, see also German nationality law
**Ge ...
subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...
of one of the largest
Swedish
Swedish or ' may refer to:
Anything from or related to Sweden, a country in Northern Europe. Or, specifically:
* Swedish language, a North Germanic language spoken primarily in Sweden and Finland
** Swedish alphabet, the official alphabet used by ...
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
s, the
Skandinaviska Enskilda Banken (SEB).
History
In Germany, the bank began its business activities in 1976 with its own subsidiary (''Deutsch-Skandinavische Bank'', later ''Skandinaviska Enskilda Banken AG''). In the year 2000 the SEB group acquired the former ''Bank für Gemeinwirtschaft'' (BfG), which was renamed SEB AG in 2001. In the private customer business, the SEB had 174 branches and one million customers in Germany. At the end of January 2011, the SEB sold its private customer business in Germany to the
Spanish Santander Consumer Bank. Since then, the bank has concentrated in Germany on its core activities, business with companies and institutional clients. As part of this strategy, the SEB AG sold its subsidiary SEB Asset Management AG at the end of August 2015, including its significant holding SEB Investment GmbH. At the beginning of 2018, the SEB transferred its main business activities – the collaboration with companies, institutional clients and international real estate investors - to a branch (SEB AG Frankfurt Branch) of the Skandinaviska Enskilda Banken AG (publ). The SEB's head office in Germany is in Frankfurt am Main, and the bank also has a location in
Munich
Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the States of Germany, German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the List of cities in Germany by popu ...
.
On 4 December 2018, SEB AG changed its name to DSK Hyp AG.
Business
In Germany, the company was active in the fields of corporate clients, institutional clients and structured
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
finance. In 2005, it became the first commercial bank to issue
mortgage bonds. The former ''SEB Hypothekenbank'' was therefore incorporated as a mortgage and bonds bank in the SEB AG. The bonds business of SEB in Germany continues to be operated by the SEB AG.
Solvency
The SEB AG is rated A2 by the
Credit rating agency
A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of Default (finance), default ...
Moody's
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international ...
. Moody's rates SEB AG's public sector bonds and
mortgage bonds Aaa. (As of: July 2015)
Subsidiaries
* SEB Leasing GmbH (leasing services)
* ''Frankfurter Vermögens Holding GmbH'' (FVH)
References
External links
Official Website DSK Hyp AG
{{Authority control
Banks based in Frankfurt
Mortgage lenders
1976 establishments in Germany