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23November
2011

SEB sells retail business in Ukraine to Eurobank group

Swedish SEB (Skandinaviska Enskilda Banken) signed an agreement to sell its retail banking business in Ukraine to a local group of Eurobank. It was reported at the website of Ukrainian financial institution.

SEB has signed an agreement to sell its retail banking business in Ukraine … SEB in Ukraine will be presented to the corporate bank and will continue to serve its corporate and institutional clients in the Nordic and Baltic countries and Germany, “- the report says.

According to the bank, the completion of the sale will take place after approval by regulatory authorities and is expected in mid 2012.

 According to the Swedish bank, it goes on sale 60 branches and loan portfolio of 1.5 billion Swedish crowns: the transaction would reduce operating profit by 250 million kronor, as well as reduce the risk weighted assets of 1.5 billion sh.k .. In this case, according to the SEB, his subsequent work in Ukraine will continue through the newly established bank, which already has the necessary banking license: continue services 100 Scandinavian, Baltic and German corporate clients with a total loan portfolio of 500 million Sh.K.

 As reported in May 2011 the Antimonopoly Committee of Ukraine allowed SEB to gain control of “Acceptance Bank” (Kiev), which was founded in early 2011.

 Reference:

 SEB Bank (formerly – “Agio”) was founded in 1991. On October 1, 2011 SEB share in its authorized capital was 99%. According to the National Bank of Ukraine, on July 1, 2011 by total assets SEB Bank took 49th place (3.197 billion USD) among 176 banks operating in the country.

 Ukrainian Eurobank started work in 2005. Its largest shareholders on October 1, 2011 is OOO “Consulting Firm” Marketing Technology “(50%) and OOO” Consulting Firm “Analyt Finance Service” (50%).

 Terms of total assets at October 1, 2011 (767 million USD) Eurobank occupied 109th among 176 Ukrainian banks. According to previously posted information on its website, the bank is a member of a large financial-industrial group, whose name is not called, combines asset management company, leasing company, developing and organizing a group of food industry.

 On its partnership with the EBRD said the financial group, which previously was at the same address with the bank. The group consists of company “Sparta Capital”, CJSC “Asset Management” Sparta “, which manages six funds. The press also reported the purchase of group insurance company” Investservice. “


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