SEB Divests Ukrainian Retail Business to Eurobank Group
SEB has signed an agreement to sell its retail banking operations in Ukraine to Eurobank Group. SEB’s business in Ukraine is limited: at mid-year 2011, loan volumes amounted to less than SEK2bn. SEB will remain in Ukraine as a corporate bank, continuing to serve its Nordic, Baltic and German corporate and institutional customers.
The completion of the sale is conditional upon regulatory approvals and is expected to be finalised by mid-2012.