Acquisition Expands SEB’s Business Card Position in the Nordics
SEB Kort, the credit card arm of Swedish banking group SEB, has signed an agreement with Nets to acquire Nets’ Business Eurocard business in Finland.
Operations will be transferred from Nets to SEB Kort on 1 April . With the acquisition SEB Kort, which has offices in Stockholm, Oslo, Copenhagen and Helsinki, becomes market leader for business credit cards throughout the Nordics.
“For decades, Eurocard has developed leading payment solutions for companies. Through this acquisition, we can incorporate Nets’ Business Eurocard operation in Finland into our Nordic business card operations and thereby further develop our already strong business card offering,” says Lennart Erlandson, head of SEB Kort.
“We welcome our new Finnish Business Eurocard customers, who, starting in 2015, will gradually gain access to our full range of services,”
“SEB has extensive experience in international corporate card business. They also know the Finnish market and have existing organization in Finland,” added Mikko Pilkama, senior vice president (SVP) of Nets, issuing services. “Therefore we are convinced that SEB will ensure smooth business continuity for our clients.
“We also believe that they will provide a good home and a successful development path for the employees moving from Nets to SEB.”