18 Nov 2011 07:30

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
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.