SEB sells Ukraine retail operations, keeps sub-custody
SEB Bank has announced it is divesting retail operations in Ukraine to Eurobank but will continue to provide sub-custody services in the country. The deal is expected to be completed in mid 2012.
"This will allow us to focus on serving our home market corporate customers from the Nordic countries, Germany, and the Baltic countries operating in Ukraine," said SEB in a client note.
The divestment of the retail operations will not affect custody services, SEB noted.
