Due to the unsatisfactory profitability of its German retail banking business, SEB is reviewing different alternatives to resolve this situation. The bank has a diversified German business comprising a profitable corporate banking and asset management business, as well as a country-wide retail banking business. SEB has received third party interest for acquiring the retail business and it is now pursuing a dialogue with several parties regarding a possible divestment.
“Germany is an important market for SEB and our customers and we will continue to develop and invest in the corporate business there,” affirmed the bank in a press statement.
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.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.