Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded by the

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 ...

Wallenberg family The Wallenberg family is a prominent Swedish family, Europe's most powerful business dynasty. Wallenbergs are noted as bankers, industrialists, politicians, bureaucrats, diplomats and military. The Wallenberg sphere's holdings employ about 60 ...

, which is still SEB's largest shareholder through investment company

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

History

In 1972,

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the f ...

(established in 1856 by

André Oscar Wallenberg André Oscar Wallenberg (19 November 1816 – 12 January 1886) was a Swedish banker, industrialist, naval officer, newspaper tycoon, politician and a patriarch of the Wallenberg family. In 1856 Wallenberg founded the Stockholms Enskilda Bank, t ...

) and

Skandinaviska Banken Skandinaviska Banken, literally the ''Scandinavian Bank'', was a Swedish bank founded in Gothenburg, 1864. Its foundation coincided with the political aspirations of the Scandinavian movement, which sought to unite Sweden, Norway and Denmark int ...

(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). In 2000, SEB acquired Germany’s Bank für Gemeinwirtschaft (BfG) and the remaining parts of the three Baltic banks. In early 2001, the company announced plans for a merger with the FöreningsSparbanken (now

Swedbank Swedbank AB () is a Nordic- Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share o ...

), which was called off when the European Commission demanded major concessions for its approval. In 2007/2008, SEB developed the green bond concept together with the World Bank. After several years of weak profitability, SEB sold its German retail banking operations to Spain's

Banco Santander Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centr ...

in January 2011. SEB sold its retail banking operations in Ukraine to Eurobank Group in June 2012.

Business

In Sweden and the Baltic countries, SEB is a

universal bank A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance.Global Reporting Initiative The Global Reporting Initiative (known as GRI) is an international independent standards organization that helps businesses, governments and other organizations understand and communicate their impacts on issues such as climate change, human righ ...

(GRI) guidelines. Since 2017 the sustainability report is integrated in the Annual Report and is aligned with reporting frameworks such as Task Force on Climate-Related Financial Disclosures, TCFD and the Principles for Responsible Banking.

Subsidiaries

Skandinaviska Enskilda Banken A/S
(

Denmark ) , song = ( en, "King Christian stood by the lofty mast") , song_type = National and royal anthem , image_map = EU-Denmark.svg , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of Denmark , establish ...

) * SEB Pankbr>
(

Estonia Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, an ...

) * DSK Hyp (formerl
SEB AG
(

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwee ...

) * SEB bankabr>

Latvia Latvia ( or ; lv, Latvija ; ltg, Latveja; liv, Leţmō), officially the Republic of Latvia ( lv, Latvijas Republika, links=no, ltg, Latvejas Republika, links=no, liv, Leţmō Vabāmō, links=no), is a country in the Baltic region of ...

) * SEB bankasbr>
(

Lithuania Lithuania (; lt, Lietuva ), officially the Republic of Lithuania ( lt, Lietuvos Respublika, links=no ), is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea. Lithuania ...

) * SEB Corporate Bank (

Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inva ...

)
SEB Bank
(

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-ei ...

)
SEB SA
(

Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...

)

References

External links

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Data

Yahoo! - Skandinaviska Enskilda Banken AB Company Profile
{{Authority control 1972 establishments in Sweden Banks of Denmark SEB Banks of Sweden Companies based in Stockholm Companies listed on Nasdaq Stockholm Companies related to the Wallenberg family Financial services companies established in 1972 Banks established in 1972 Financial services companies of Sweden Swedish brands