Vilniaus Bankas, the Lithuanian subsidiary of SEB, has signed agreements giving it the right to acquire more than 90 percent of the shares of the Ukrainian bank, Bank Agio. The total investment is approximately SEK 200 million. The agreements are subject to approval from the national authorities in Lithuania and the Ukraine. Bank Agio was established in 1991 and has 12 branches. More than 70 per cent of its customer base are small and medium-sized corporate clients. SEB says that the acquisition is in line with its ambitions to strengthen its position in northern Europe and sees the acquisition as a means of responding to increased corporate clients business in Eastern Europe. Vilniaus Bankas is Lithuania’s leading bank with a market share of about 40 percent and more than 530,000 customers. On 30 June 2004, its total assets amounted to EUR 2.7 billion.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.