DSK Deutsch-Skandinavische Verwaltungs GmbH (formerly SEB AG and DSK Hyp AG) is the Germany subsidiary of one of the largest Sweden , the SEB Group (SEB).
History
In Germany, the bank began its business activities in 1976 with its own subsidiary (
Deutsch-Skandinavische Bank, later
Skandinaviska Enskilda Banken AG). In the year 2000 the SEB group acquired the former
Bank für Gemeinwirtschaft (BfG), which was renamed SEB AG in 2001.
In the private customer business, the SEB had 174 branches and one million customers in Germany. At the end of January 2011, the SEB sold its private customer business in Germany to the
Banco Santander.
Since then, the bank has concentrated in Germany on its core activities, business with companies and institutional clients. As part of this strategy, the SEB AG sold its subsidiary SEB Asset Management AG at the end of August 2015, including its significant holding SEB Investment GmbH. At the beginning of 2018, the SEB transferred its main business activities – the collaboration with companies, institutional clients and international real estate investors - to a branch (SEB AG Frankfurt Branch) of the Skandinaviska Enskilda Banken AG (publ). The SEB's head office in Germany is in Frankfurt am Main,
and the bank also has a location in
Munich.
On 4 December 2018, SEB AG changed its name to DSK Hyp AG.SEB AG Zentrale Ulmestrasse Frankfurt.jpg|Head office 2001-2013, Ulmenstraße 30, Frankfurt
Business
In Germany, the company was active in the fields of corporate clients, institutional clients and structured
real estate finance. In 2005,
it became the first commercial bank to issue
Covered bond. The former
SEB Hypothekenbank was therefore incorporated as a mortgage and bonds bank in the SEB AG. The bonds business of SEB in Germany continues to be operated by the SEB AG.
Solvency
SEB AG was rated A2 by the Credit rating agency Moody's. Moody's rates SEB AG's public sector bonds and mortgage bonds Aaa. (As of: July 2015)
Subsidiaries
-
SEB Leasing GmbH (leasing services)
-
Frankfurter Vermögens Holding GmbH (FVH)
External links
