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Swedish bank SEB buys main bank stake in Ukraine

Swedish banking group Skandinaviska Enskilda Banken (SEB) on Friday said it has agreed to buy a 97 percent stake in Factorial Bank in Ukraine for around $124 million.

The buy will help it boost its presence in Eastern Europe, it said. Integration is expected to start next year, pending regulatory approvals. SEB Chief Executive Annika Falkengren said the "consolidation within one of the fastest-growing banking markets in Europe offers SEB continued opportunities for growth in the region."

SEB, the core holding of the powerful Swedish Wallenberg family, was one of the first Nordic banks to establish a presence in the Eastern European country with the acquisition of small Ukrainian Bank Agio in 2005. Its expansion in the region, starting in the Baltics in the late 1990's, has mainly been driven by the growing business of SEB's corporate customers in the Nordic home markets, the Baltic countries and in Germany.

Source: Herald Tribune
Date: 20.11.2007 [143]

Financial and Banking News
 Trump blasts Bitcoin, Libra, demands they face banking regulations

U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank." 11.07.2019 | Source: Reuters

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: MEGA

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

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