Skandinaviska Enskilda Banken
Encyclopedia
Skandinaviska Enskilda Banken AB (SEB) is a Swedish
financial group for corporate customers, institutions and private individuals with headquarters in Stockholm
, Sweden. Its activities comprise mainly bank
ing services, but SEB also carries out significant life insurance
operations and also owns Eurocard
. The bank was founded by and is controlled by the powerful Swedish Wallenberg family
through their investment company Investor AB
.
More than half of SEB’s approximately 20,000 employees are located outside Sweden. On 31 December 2009, the Group's total assets amounted to SEK 2,308bn (~EUR 225bn) while its assets under management totalled SEK 1,356bn (~EUR 132bn).
(established 1856) and Skandinaviska Banken
(established 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.
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
financial group for corporate customers, institutions and private individuals with headquarters in Stockholm
Stockholm
Stockholm is the capital and the largest city of Sweden and constitutes the most populated urban area in Scandinavia. Stockholm is the most populous city in Sweden, with a population of 851,155 in the municipality , 1.37 million in the urban area , and around 2.1 million in the metropolitan area...
, Sweden. Its activities comprise mainly bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
ing services, but SEB also carries out significant life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
operations and also owns Eurocard
EUROCARD (payment card)
Eurocard was a credit card, introduced in 1964 by a Swedish banker in the Wallenberg family as an alternative to American Express.-History:In 1965, Eurocard International N.V. was established, based in Brussels, as a not-for-profit membership association of European banks. Its operational entity...
. The bank was founded by and is controlled by the powerful Swedish Wallenberg family
Wallenberg family
The Wallenberg family is a prominent Swedish banking family, renowned as bankers, industrialists, politicians, diplomats and philanthropists. The most famous of the Wallenbergs, Raoul Wallenberg, a diplomat, worked in Budapest, Hungary, during World War II to rescue Jews from the Holocaust...
through their investment company Investor AB
Investor AB
Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family through their foundation asset management company FAM. The company owns a controlling stake in several large Swedish companies with smaller positions in a number of other firms. In 2006 it had...
.
Overview
SEB serves more than 400,000 corporate customers and institutions and more than five million customers in the Nordic and Baltic countries, Poland, Russia and Ukraine and strategic presence through its international network in another ten countries.More than half of SEB’s approximately 20,000 employees are located outside Sweden. On 31 December 2009, the Group's total assets amounted to SEK 2,308bn (~EUR 225bn) while its assets under management totalled SEK 1,356bn (~EUR 132bn).
History
In 1972, Stockholms Enskilda BankStockholms 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...
(established 1856) and Skandinaviska Banken
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 into a single kingdom...
(established 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.
Subsidiaries
- SEB A/S http://www.seb.dk (DenmarkDenmarkDenmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
) - SEB Pank (EstoniaEstoniaEstonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
) - SEB UnibankaSEB UnibankaSEB banka , owned by SEB, is one of the largest banks in Latvia. The bank was established after regaining independence from USSR by consolidating earlier financial structures, such as Bank of Agricultural Industry. Nowadays its main rivals in the Latvian banking market are Hansabanka and Parex bank....
(LatviaLatviaLatvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
) - SEB Bankas (LithuaniaLithuaniaLithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
) - SEB Bank (former AGIO)SEB Bank (Ukraine)Public Joint Stock Company SEB Bank is a Ukrainian bank in the Swedish SEB Group. It was registered at the National Bank of Ukraine on October 2, 1991 under the name AGIO Bank . This bank was acquired by SEB Vilniaus bankas in January 2005 and later renamed SEB Bank. In late 2007 SEB acquired...
(UkraineUkraineUkraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
) - SEB NY est. 1982 (United States of America)
- SEB Bank http://www.sebbank.ru (RussiaRussiaRussia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
) - SEB SA (LuxembourgLuxembourgLuxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
)