SEB divests its Ukrainian retail business to Eurobank Group
SEB has signed an agreement to sell its retail banking operations in Ukraine to
Eurobank Group. SEB's business in Ukraine is limited: at mid-year 2011, loan
volumes amounted to less than SEK 2bn.
SEB will remain in Ukraine as a corporate  bank, continuing to serve its Nordic,
Baltic and German corporate and institutional customers.
The completion of the sale is conditional upon regulatory approvals and is
expected to be finalised by mid-2012.
For further information, please contact
Viveka Hirdman-Ryrberg, Head of Corporate
Communication,
+46-8-763 85 77, +46-70-550 35 00
Ulf Grunnesjö, Head of Investor Relations,
+46 8-763 85 01,
+46 70-763 85 01
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SEB is a leading Nordic financial services group. As a relationship bank, SEB
in Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The
international nature of SEB's business is reflected in its presence in some
20 countries worldwide. On September 30, 2011, the Group's total assets
amounted to SEK 2,359 billion while its assets under management totalled SEK
1,241 billion. The Group has about 17,600 employees. Read more about SEB at
www.sebgroup.com.
Press release PDF:
http://hugin.info/1208/R/1564881/485572.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SEB via Thomson Reuters ONE
[HUG#1564881]
