SEB Group: Difference between revisions
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[[Other shareholders]] (60.4%) |
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| num_employees = 15,716 <small>([[full-time equivalent|FTE]], end 2021)</small><ref name="AA14" /> |
| num_employees = 15,716 <small>([[full-time equivalent|FTE]], end 2021)</small><ref name="AA14" /> |
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| subsid = |
| subsid = SEB A/S (Denmark)<br /> |
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[[SEB Pank]] (Estonia)<br /> |
[[SEB Pank]] (Estonia)<br /> |
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[[DSK Hyp]] (Germany)<br /> |
[[DSK Hyp]] (Germany)<br /> |
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[[SEB banka]] (Latvia)<br /> |
[[SEB banka]] (Latvia)<br /> |
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[[SEB bankas]] (Lithuania)<br /> |
[[SEB bankas]] (Lithuania)<br /> |
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SEB Corporate Bank (Ukraine)<br /> |
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SEB Bank (Russia)<br /> |
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SEB SA (Luxembourg) |
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| homepage = [http://www.sebgroup.com www.sebgroup.com]<br />[https://seb.se/ seb.se] |
| homepage = [http://www.sebgroup.com www.sebgroup.com]<br />[https://seb.se/ seb.se] |
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Revision as of 08:55, 19 February 2023
Company type | Publicly traded Aktiebolag |
---|---|
Nasdaq Stockholm: SEB A | |
ISIN | |
Industry | Financial services |
Predecessor | Stockholms Enskilda Bank (established in 1856) Skandinaviska Banken (established in 1864) |
Founded | 1972 |
Headquarters | Stockholm, Sweden |
Key people | Johan Torgeby (President and CEO), Marcus Wallenberg (Chairman) |
Products | Corporate and Institutional Banking Retail banking, wealth management, life insurance, pensions |
Revenue | SEK 54.61 billion (2021)[3] |
SEK 30.86 billion (2021)[3] | |
SEK 25.42 billion (2021)[3] | |
AUM | SEK 2.682 trillion (end 2021)[3] |
Total assets | SEK 3.304 trillion (end 2021)[3] |
Total equity | SEK 193.23 billion (end 2021)[3] |
Owner | Investor AB (20.8%) Alecta Pension Insurance (5.7%) |
Number of employees | 15,716 (FTE, end 2021)[3] |
Subsidiaries | SEB A/S (Denmark) SEB Pank (Estonia) |
Website | www.sebgroup.com seb.se |
Skandinaviska Enskilda Banken AB (Swedish pronunciation: [skandɪˈnɑ̌ːvɪska ˈêːnˌɧɪlːda ˈbǎŋːkɛn], abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded by the Swedish Wallenberg family, which is still SEB's largest shareholder through investment company Investor AB.
History
In 1972, Stockholms Enskilda Bank (established in 1856 by André Oscar Wallenberg) and Skandinaviska Banken (established in 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.
SEB acquired Swedish insurance company Trygg-Hansa in 1997, and integrated its life insurance activities. The property and casualty insurance portion of Trygg-Hansa was later sold.
In 1998, the company changed its logo and brand name from SE-Banken to SEB. At the end of that same year, SEB bought its first shares of the three Baltic banks Eesti Ühispank (Estonia), Latvijas Unibank (Latvia) and Vilniaus Bankas (Lithuania).[4] In 2000, SEB acquired Germany’s Bank für Gemeinwirtschaft (BfG) and the remaining parts of the three Baltic banks.[5]
In early 2001, the company announced plans for a merger with the FöreningsSparbanken (now Swedbank), which was called off when the European Commission demanded major concessions for its approval.
In 2007/2008, SEB developed the green bond concept together with the World Bank.[6]
After several years of weak profitability, SEB sold its German retail banking operations to Spain's Banco Santander in January 2011.[7]
SEB sold its retail banking operations in Ukraine to Eurobank Group in June 2012.[8]
Business
In Sweden and the Baltic countries, SEB is a universal bank, offering financial advice and a wide range of financial services to all customer segments. In Denmark, Finland, Norway, Germany and the United Kingdom the bank’s operations have a strong focus on a full-service offering to corporate and institutional clients. SEB also has a presence in another 26 locations worldwide including New York, São Paulo, London, Luxembourg, Geneva, Warsaw, Kyiv, Beijing, Shanghai, Hong Kong, Singapore and New Delhi.[citation needed]
SEB serves 2,000 large corporations and 1,100 financial institutions, 400,000 small and medium-sized enterprises (SMEs) and some 4 million private individuals.[9]
Since January 2022, the company is operating through six business divisions; Large Corporates & Financial Institutions, Corporate & Private Customers, Private Wealth Management & Family Office, Baltic, Life and Investment Management.[10]
Sustainability
SEB signed the UN Global Compact 2004 and has since then committed to several global initiatives and international codes of conduct. Among them are the UN Universal Declaration of Human Rights, the UN Guiding Principles on Business and Human Rights, the UNEP FI Principles for Responsible Banking, the Net-Zero Banking Alliance, the Principles for Responsible Investments and Net Zero Asset Managers initiative.[11]
SEB has developed ten sector policies for agriculture, arms & defence, forestry, fossil fuel, gambling, mining & metals, renewable energy, shipping, tobacco and transportation. In addition, the company has thematic policies on environment (including climate change, freshwater and biodiversity) and social and human rights.[12]
In addition to having developed the green bond concept together with the World Bank in 2007/2008 SEB was in 2014 also part of the creation of Green Bond Principles.[13]
In 2009 SEB published its first sustainability report in line with Global Reporting Initiative (GRI) guidelines. Since 2017 the sustainability report is integrated in the Annual Report and is aligned with reporting frameworks such as Task Force on Climate-Related Financial Disclosures, TCFD and the Principles for Responsible Banking.[14][15]
Subsidiaries
- Skandinaviska Enskilda Banken A/S (Denmark)
- SEB Pank (Estonia)
- DSK Hyp (formerly SEB AG) (Germany)
- SEB banka (Latvia)
- SEB bankas (Lithuania)
- SEB Corporate Bank (Ukraine)
- SEB Bank (Russia)
- SEB SA (Luxembourg)
References
- ^ http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE281
- ^ http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE282
- ^ a b c d e f g "Annual Accounts 2021" (PDF). SEB. Retrieved 24 May 2022.
- ^ "Annual Report 1998" (PDF). SEB's annual report 1998. Skandinaviska Enskilda Banken AB. Retrieved 20 January 2015.
- ^ "Annual Report 2000" (PDF). SEB's annual report 2000. Skandinaviska Enskilda Banken AB. Retrieved 20 January 2015.
- ^ "10 Years of Green Bonds: Creating the Blueprint for Sustainability Across Capital Markets". World Bank. Retrieved 2022-05-27.
- ^ "SEB completes sale of German retail banking business to Banco Santander". SEB Press release Jan 31, 2011. Skandinaviska Enskilda Banken. Retrieved 4 April 2014.
- ^ "SEB completes sale of Ukrainian retail business". SEB press release June 8, 2012. Skandinaviska Enskilda Banken AB. Retrieved 4 April 2014.
- ^ "Annual report 2021". sebgroup.com. Retrieved 2022-05-27.
- ^ "SEB Divisions". sebgroup.com. Retrieved 2022-05-27.
- ^ "Our commitments". sebgroup.com. Retrieved 2022-06-09.
- ^ "Our sustainability policies". sebgroup.com. Retrieved 2022-06-09.
- ^ "Joint Press Release" (PDF).
- ^ "Sustainability reporting". sebgroup.com. Retrieved 2022-06-09.
- ^ "Annual and Sustainability Report 2021" (PDF).
External links
- Media related to Skandinaviska Enskilda Banken at Wikimedia Commons
Data
- 1972 establishments in Sweden
- Banks of Denmark
- Banks of Germany
- Banks of Sweden
- Companies based in Stockholm
- Companies listed on Nasdaq Stockholm
- Companies related to the Wallenberg family
- Financial services companies established in 1972
- Banks established in 1972
- Financial services companies of Sweden
- Swedish brands