Sweden's SEB bank dumps German operations

Spanish and Italian financial institutions are interested in taking over SEB's German activities. 

• Speculations by experts at Dow Jones believe that a deal will be reached by the end of July between the Swedish bank, SEB (formerly Skandinaviska Enskilda Banken, and SE-Banken) to sell off its interesting in the German banking market, which last year accounted for 14% of it operating revenues. SEB entered the German market at the turn of the millennium, and following a decade of operations, has deemed that the market delivers unsatisfactory business results.

• Both the Santander financial concern of Spain and the Italian major bank, Unicredit, are reported to be offering separate bids for SEB's activities in Germany. Some industry authorities say these figures have already been submitted to review by SEB, who said that they were "reviewing different alternatives to resolve this situation."

• SEB's German operations were slated to go onto the market back in 2008, but the global financial crisis postponed the move.