SEB AG is one of the largest foreign banks in Germany, operating as the German subsidiary of one of Sweden’s largest banks Skandinaviska Enskilda Banken (SEB).
In Germany, SEB commenced operations in 1976 with its own subsidiary (German-Scandinavian Bank, Skandinaviska Enskilda Banken AG later). In 2000, the SEB Group acquired the former Bank for Social Economy (BfG), which they renamed SEB AG in 2001.
In retail banking, SEB decreed in Germany over 174 branches, one million customers and had the top in customer satisfaction. End of January 2011, SEB sold its retail banking business in Germany to Spain’s Banco Santander and since then, it concentrates in Germany on corporate, real estate, institutional clients and asset management.
SEB Germany subsidiaries:
- SEB Asset Management – Fund Business
- SEB Leasing GmbH – leasing services
- Frankfurt Assets Holding GmbH (FVH)
- Total assets: 33,445.5 million euros
- Deposits: 17390.5 million euros
- Customer loans: 16410.5 million euros
- Employees: 872