Through a sponsorship request, the BSM group was able to visit the Singapore branch office of Swedish bank Skandinaviska Enskilda Banken (SEB). The group was briefed on the various business functions within SEB Singapore which strong emphasis placed on its strengths – trade financing, cash management and multi-currency facilities.
SEB Singapore was established in 1979 mainly to support its home customer franchises such as Electrolux, Tetrapak and Ericsson. Through long lasting customer relationships, SEB has increased its presence in ten countries with half of its revenues generated outside Sweden. Through its private banking arm, SEB plans to reach out to the Nordics and Germans. In addition, SEB is planning to increase its presence in Asia over the next few years, serving selected MNCs with Swedish roots.