SEB is to open a Representative office in New Delhi, India during the autumn of 2007. SEB will there support its client activities, and further strengthen its position as the Nordic bank of choice for international business.
The Representative office will facilitate cross-border business transactions between SEB home markets and India, while further increasing SEB's understanding of client activities and needs in India.
SEB's office in New Delhi will also have the responsibility to build relationships with government agencies and business groups in India in addition to tending to local and home market clients.
"India's importance as a base for clients' production and sourcing is increasing significantly, evidenced by two Swedish companies establishing operations there every month. SEB's clients are expanding strongly in India with annual sales increasing by more than 20 per cent," says Magnus Carlsson, Executive Vice President and Head of Merchant Banking.
"New Delhi is the natural choice for SEB as the region holds the highest concentration of SEB clients, and as the capital city is home to embassies, government offices and other authorities", Carlsson concludes.
The SEB Group is a North European financial group for 400,000 corporate customers and institutions,
and 5 million private customers. SEB has local presence in the Nordic and Baltic countries, Germany, Poland, the Ukraine and Russia and has a global presence through its international network in another 10 countries.
On 31 December 2006, the Group's total assets amounted to SEK 1,934bn while its assets under management totalled SEK 1,262bn. The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com
For further information, please contact:
Oscar Lundberg, CRM, Merchant Banking, +46 8 763 91 13
Elisabeth Lennhede, Communications Manager, Merchant Banking, +46 8 763 99 16