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Company Description

Contact Info

Kungsträdgårdsgatan 8

Stockholm, 106 40


Phone: 46 7 71 62 10 00


Skandinaviska Enskilda Banken AB provides corporate, retail, investment, and private banking services to corporate customers, institutions, and private individuals in Europe and internationally. It also provides asset management and life insurance services. As of December 31, 2008, the company operated approximately 660 branch offices: 172 in Sweden, 61 in Estonia, 63 in Latvia, 77 in Lithuania, 174 in Germany, and 109 in Ukraine. Divisions The company operates in four divisions: Merchant Banking, Retail Banking, Wealth Management, and Life. Merchant Banking The Merchant Banking Division offers its clients integrated investment and corporate banking solutions, including the investment banking activities under the brand name SEB Enskilda. Its main areas of activity include lending and debt capital markets; trading in equities, currencies, fixed income, derivatives and futures; advisory services, brokerage, research and trading strategies within equity, fixed income and foreign exchange markets; prime brokerage and securities related financing solutions; export, project and trade finance; corporate finance; acquisition finance; venture capital; cash management, liquidity management and payment services; custody and fund services; leasing and factoring products; and management of liquidity portfolio. The division services large and medium-sized companies, financial institutions, banks, and commercial real estate clients. Merchant Banking operates primarily in Sweden, Norway, Denmark, Finland, Germany, Poland and the Baltic countries. Retail Banking The Retail Banking Division serves five million private customers and 400,000 small and medium-sized corporate customers in Sweden, Germany and the Baltic countries. Customers have access to its range of financial services through approximately 550 branch offices, telephone and e-banking services. The business areas are Sweden with a network of 172 branch offices servicing 1.7 million customers, of whom 1 million use Internet services and 143,000 are small and medium-sized companies; Estonia with a network of 61 branch offices servicing 800,000 customers, of whom 540,000 use internet services and 71,000 are small and medium-sized companies; Latvia with a network of 63 branch offices servicing 900,000 customers, of whom 480,000 use internet services and 66,000 are small and medium-sized companies; Lithuania with a network of 77 branch offices servicing 1 million customers, of whom 800,000 use internet services and 63,000 are small and medium-sized companies; Germany with a network of 174 branch offices servicing 1 million customers, of whom 360,000 use internet services and 23,000 are small and medium-sized companies; and Card with 3,3 million charge, credit, debit and co-branded cards. The business area operates in Sweden, Denmark, Norway and Finland and includes trade marks like Eurocard and Diners Club. Card also has acquiring agreements with approximately 200,000 retailers. Wealth Management The Wealth Management Division has two business areas: Institutional Clients and Private Banking. The Division offers a spectrum of asset management and advisory services and its product range includes equity and fixed income, private equity, real estate and hedge fund management. Wealth Management has offices in the Nordic and Baltic countries, Luxembourg, Germany, the United Kingdom, Singapore, Switzerland, Poland, France and Spain. The division distributes its services mainly through its institutional client sales force, its retail network, its own private banking units and through third party distributors. Institutional Clients: This business area provides asset management services to institutions, foundations and life insurance companies and is responsible for the investment management, marketing and sales of the company’s mutual funds. Private Banking: This business area serves the higher end of the private individual segment with wealth management services and advisory services. Life The Life Division is responsible for the company’s life insurance operations. It consists of the business areas: SEB Trygg Liv (Sweden); SEB Pension (Denmark); and SEB Life & Pension International. The operations comprise insurance products within the area of investments and social security for private individuals and companies. The division has 1.8 million customers and is active in Sweden, Denmark, Finland, Ireland, Luxembourg, Estonia, Latvia, Lithuania and Ukraine. The main part of the traditional life insurance operations in Sweden is conducted through the mutually operated insurance company Gamla Livforsakringsaktiebolaget SEB Trygg Liv. Acquisitions During 2008, the company acquired KAM Group (Key Asset Management) and GMAC Commercial Finance, an independent factoring company in Poland. History Skandinaviska Enskilda Banken AB was founded in 1856.


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Valuation SEBC Industry Range
Price/Earnings 17.0x
Price/Sales 4.4x
Price/Book 1.4x
Price/Cash Flow 16.8x
TEV/Sales NM Not Meaningful

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