Skandinaviska Enskilda Banken AB (SEB) is a Nordic financial services group founded in 1972, headquartered in Stockholm, Sweden. SEB provides comprehensive financial services in Sweden and the Baltic countries, while in Denmark, Finland, Norway, Germany, and the UK, the bank focuses on corporate and investment banking services for corporate and institutional clients. SEB was founded by the Swedish Wallenberg family, who, through the investment company Investor AB, remains SEB's largest shareholder.
In 1972, Stockholms Enskilda Bank (founded in 1856 by André Oscar Wallenberg) and Skandinaviska Banken (founded in 1864) merged to form SEB. SEB acquired the Swedish insurance company Trygg-Hansa in 1997 and integrated its life insurance business. Subsequently, in 1998, SEB purchased three banks in the Baltic region: Eesti Ühispank in Estonia, Latvijas Unibank in Latvia, and Vilniaus Bankas in Lithuania. In 2000, SEB further acquired the German Bank für Gemeinwirtschaft (BfG) and the remaining shares of the three Baltic banks.
From January 2022, SEB operates through six business divisions, including Large Corporates & Financial Institutions, Corporate & Private Customers, Private Wealth Management & Family Office, Baltic, Life Insurance, and Investment Management. SEB offers a wide range of services, including financing and investment banking, providing advisory and financing solutions such as venture capital and financial sponsorship. Additionally, SEB offers asset management, life insurance, and trading services, as well as investor services, cash management, and custody services.
In Sweden and the Baltic countries, SEB is a comprehensive bank, providing financial advice and a wide array of financial services to various customer groups. In Denmark, Finland, Norway, Germany, and the UK, the bank focuses on providing full services for corporate and institutional clients. Moreover, SEB has branches in 26 locations worldwide, including New York, São Paulo, London, Luxembourg, Geneva, Warsaw, Kyiv, Beijing, Shanghai, Hong Kong, Singapore, and New Delhi. SEB serves approximately 2,000 large corporations, 1,100 financial institutions, 400,000 small and medium-sized enterprises (SMEs), and about 4 million individuals.
In 2007 and 2008, SEB collaborated with the World Bank to develop the green bond concept and participated in formulating the Green Bond Principles in 2014. Additionally, SEB published a sustainability report in 2009 in compliance with the Global Reporting Initiative (GRI) standards.
SEB's founder and main shareholder is the Wallenberg family, a renowned Swedish family, whose members include numerous notable bankers, entrepreneurs, politicians, officials, and diplomats. The family has extensive involvement in Swedish industrial groups, such as Ericsson, Electrolux, ABB, SKF, AIK Football Club, and the Atlas Copco Group. In the 1970s, the Wallenberg family companies employed 40% of Sweden's industrial workforce, representing 40% of the Swedish stock market's total value.