SEB has issued a statement which says that, while several Nordic banks have scaled back their international operations, that does not apply to their situation.
“Our customers can trust that our strategy remains firm and that our international presence will be stable over the long term”, said Carl Christensson, head of the bank’s international network.
The statement notes that the changed competitive situation creates business opportunities for SEB. The bank's ambition is to broaden relations with existing clients as well as bring in new customers.
“Our strategy is to be the leading Nordic corporate bank with the best capacity to meet the needs of our home market customers around the world," explained Christensson. "In Asia we are the undisputed leader in terms of size, resources, product breadth and geographical presence.”
Asia accounts for about half of SEB’s international business. The bank is represented in five locations and have a good customer flow in the corporate business. Since opening in Hong Kong in 2011 SEB has also expanded the business with financial institutions.
“In recent years we have strengthened our export credit business, and soon in Shanghai we will be launching a new foreign exchange offering and improving our cash management offering with a cash pool solution in China," said Christensson.
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