SEB has signed an agreement to acquire 97.25% of Factorial Bank, Ukraine. The agreement implies a maximum consideration of US$120m (approximately SEK 780m) at a 100% holding. The bank says that the acquisition is in line with its strategy to expand its footprint in eastern Europe through organic growth and add-on acquisitions. By acquiring Factorial Bank, with its 53 branches, SEB will strengthen its regional presence in the eastern part of Ukraine and the city of Kharkiv. Following the acquisition, SEB in Ukraine will have about 13,000 corporate customers and 100,000 private clients. Total assets will amount to US$452m as of 30 September 2007. The European Bank for Reconstruction and Development (EBRD) will acquire a minority ownership of maximum 9.95% in SEB Bank (Ukraine). The acquisition is subject to regulatory approvals. The integration of Factorial Bank including rebranding will commence during 2008. SEB Enskilda and HSBC are SEB’s financial advisers in the transaction.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more