Closing the Baltic loop
Skandinaviska Enskilda Banken AB (SEB) has announced plans to open its first branch in Poland. The decision came following the sale of SEB's shares in Poland's Bank Ochrony rodowiska conducted at the end of 2005. The company plans to open one office in Warsaw, which will employ 75 staff.
"By opening the SEB office in Poland we are closing the loop around the Baltic Sea, as we are now fully represented in all Baltic countries," said Veine Svensson, head of SEB in Poland.
The bank already knows its target group - some 2,000 companies from Scandinavia, Germany and the Baltic states which operate in Poland and which are already SEB's clients in different countries. Thus, SEB Polska does not plan to offer its entire range of services. Instead the company will focus only on products that will be helpful to its customer's needs in Poland. "We will continue supporting our customers and we will help them develop and extend their operations in the Baltic region," said Svensson.
Another part of SEB's strategy for Poland will be a focus on private banking for wealthy Poles and expatriates who are in Poland on a long-term basis. However, SEB announced that it won't be offering retail banking products to Polish customers.
