Skandinaviska Enskilda Banken AB (publ) Stock

Skandinaviska Enskilda Banken AB (publ) (SEB) provides corporate, retail, investment and private banking services. The company also provides asset management and life insurance services.

Divisions

The company serves its customers through the following divisions:

Large Corporates & Financial Institutions offers commercial and investment banking services to large corporate and institutional clients.

Corporate & Private Customers offers banking and advisory services to private customers and small and medium-sized corporates.

Private Wealth Management & Family Office offers banking infrastructure, access to capital markets, financing solutions and individually advisory services to entrepreneurs, high net worth individuals, foundations and family offices.

Division Baltic offers products mainly to retail customers (private customers and small and medium-sized corporates) and private banking services in the Baltic countries.

Division Life offers life, sickness, healthcare and pension insurance.

Investment Management performs asset management. Group functions consists of business support units, treasury and staff units and German run-off operations.

Core banking consists of loan, leasing, card and payment related products. Capital market consists of trading and issues on financial markets. Asset management consists of advisory, custody and fund management. Life insurance and pension consists of unit-linked and traditional life insurance products. Other consists of income from treasury operations and other activities.

Large Corporates & Financial Institutions: Commercial and investment banking services for large corporate and institutional customers in the Nordic region, Germany and the United Kingdom, as well as in the company's international network.

Corporate & Private Customers: Full banking and advisory services for private individuals and small and medium-sized corporate customers in Sweden, as well as card services in four Nordic countries.

Private Wealth Management & Family Office: Leading private banking services with global reach for Nordic high-net-worth individuals.

Baltic: Full banking and advisory services for private individuals and small and medium-sized corporate customers in Estonia, Latvia and Lithuania.

Life: Life insurance solutions for private, as well as corporate and institutional customers mainly in the Nordic and Baltic countries.

Investment Management: Management and distribution of mandates, SEB-labelled and external funds for customers channeled via the company's divisions.

Home Markets

The company serves customers with a wide range of products Sweden, Norway, Denmark, Finland, Estonia, Latvia, Lithuania, Germany, and the United Kingdom.

Geographical Expansion

The company expands its business for large corporate customers, such as the Netherlands, Switzerland, and Austria.

International Network

The company supports its home market customers around the world, such as Beijing, Hong Kong, Kyiv, Luxembourg, New Delhi, New York, Nice, São Paulo, Shanghai, Singapore, and St. Petersburg), and Warsaw.

Strategy

The company's strategies include strengthening its customer offering by continuing to build on existing strengths through extra focus and resources targeted at already established areas; evaluating the need for strategic change and transforming the way the company does business in already established areas; collaborating and partnering with external stakeholders and re-evaluating how the company produces and distributes its products and services; and increasing its focus on areas, including automation, digitalization, and technology development.

The company's strategy is to be a leading catalyst in the transition towards a more sustainable society. The company's target is to be the most attractive employer in the financial sector, particularly within banking.

Partnerships

During 2022, the company established a partnership with Ringkjøbing Landbobank in Denmark. This was in line with its intention of expanding its range of private banking services on the Danish market and increasing its reach in the family office segment. The company has entered into a strategic partnership with Insurely, a Swedish insurtech company that intends to digitalize the insurance industry. The company's intention is to investigate the opportunities for increasing the level of digitalization and efficiency of its insurance offering.

Customer Segments

All customers have individual needs, but smart digital solutions and personal relationships are key building blocks within the company's four main customer segments. The company's customers are looking for a partner who is proactive, offers responsible advice and takes a long-term perspective.

Large Corporates

The company has enduring and uniquely strong relationships with its large corporate customers in Sweden and other Nordic countries. The company supports them in their business and their international expansion and stays with them as a partner through good times and bad. The company serves some 2,000 large corporations across a broad spectrum of industries. Many of them are global market leaders and most have extensive international operations. In the Nordic region, the company's customers are among the largest in their respective industries while in Germany and the United Kingdom, large companies with an international profile are in focus.

Financial Institutions

The company has a strong position among financial institutions in the Nordic markets and also serves customers internationally with capital market access, custody services and advice on capital, sustainability and asset management matters. The company serves approximately 1,100 financial institutions and acts as an intermediary between Nordic and global financial markets. The company offers its services to pension funds, asset managers, hedge funds, insurance companies, and state-owned investment funds, as well as other banks and SSAs (sovereigns, supranationals, and agencies).

Small and Medium-sized Companies

The company has an established position as the bank for entrepreneurs and small business owners and serves some 400,000 small and medium-sized companies. Of these, some 188,000 are home bank customers in Sweden and 103,000 in the Baltic countries. The segment includes around 620 mid-corps - many with international operations - as well as customers in the real estate and public sectors in Sweden, such as government agencies, state-owned companies, and municipalities.

Private Individuals

The company is one of the major banks in Sweden, Estonia, Latvia and Lithuania. The company has a strong position, and the bank is one of the market leaders in private banking in the Nordic countries. The company provides a comprehensive range of products and services to private customers through its three distribution channels (digital, remote, and physical), as well as private-banking services with global reach to Nordic high-net-worth individuals. The company has approximately four million private customers in Sweden and the Baltic countries. Of these, around 500,000 are home bank customers in Sweden and approximately one million in the Baltic countries. The company has around 32,000 private banking customers.

Divisions and Group Functions

Large Corporates & Financial Institutions

Business Offering

The division serves 2,000 large corporate customers and 1,100 financial institutions and offers advisory-driven commercial and investment banking services in the Nordic region, Germany, the United Kingdom and through international presence. The division has a full-service offering supporting enterprises with capital and offering investment opportunities for pension funds and other investors. Customers are offered capital markets transaction services (equity and debt); financing and advice relating to investment banking activities (mergers and acquisitions, etc.); products and services for cash management and trade finance; brokerage and trading services; post trade investor services, such as custody, risk and valuation services and collateral management; and macroeconomic analysis and securities research.

Corporate & Private Customers

Business Offering

The division serves some 498,000 private and 188,000 corporate home bank customers in Sweden with universal banking services through digital meeting points, about 80 physical meeting places and a contact centre with 24/7 accessibility. The division has a broad offering for both private and corporate customers, ranging from everyday banking services to private individuals and smaller companies, to Private Banking services with global reach for high-net-worth individuals in Sweden. In addition, complex banking and advisory services are provided to medium-sized companies. The division also issues cards in the Nordic countries under the company's own brand, as well as for Eurocard and several other partner brands.

Private Wealth Management & Family Office

Business offering

The division serves 17,400 high net worth individuals, entrepreneurs, foundations and professional family offices and their families and businesses in the Nordic region, Germany, and United Kingdom; and has presence in France, Luxembourg, and Singapore. Customers are offered individually tailored financing and investment products and services, including analysis, primary market transactions, and alternative investments. The offering also includes holistic family office services, comprehensive banking infrastructure, philanthropy advice, foundation services, and non-financial services, such as accounting services, insurance solutions, and legal advisory related to company and family law. The division also serves professional family offices with the full range of products.

Baltic

Business Offering

The division provides universal banking, including advisory services to private individuals and all corporate customer segments in Estonia, Latvia and Lithuania, with significant market shares across key segments and products in all three countries. The division has branch offices in the three Baltic countries and serves more than 1 million private home bank customers and 103,000 home bank customers among small and medium sized companies. Digital services, such as mobile applications, electronic document signing and remote video advice, are increasingly used by customers.

Life

Business Offering

The division provides life insurance solutions to about 805,000 private and 97,000 corporate customers with 402,000 policyholders. Operations are carried out mainly in the Nordic and Baltic countries through digital and remote meeting points, physical meeting places and contact centres. The offering includes unit-linked, portfolio bond and traditional insurance, as well as health and sickness insurance. The division intends to serve customers throughout life with long-term advice and solutions in order to provide companies and individuals with the right insurance coverage.

Investment Management

Business Offering

The division offers asset management services through a broad range of funds and tailored portfolio mandates to institutional investors, as well as retail and private banking customers. The operations are carried out in the Nordics, Germany, and Luxembourg. Assets are managed across equities, fixed income, alternative investments, and multi-strategy management. Products are distributed primarily through the division's institutional channel, the company's other divisions, as well as external channels.

History

Skandinaviska Enskilda Banken AB (publ.) was founded in 1856. The company was incorporated in 1971.