DSK Deutsch-Skandinavische Verwaltungs GmbH (formerly SEB AG and DSK Hyp AG) is the
German
German(s) may refer to:
* Germany, the country of the Germans and German things
**Germania (Roman era)
* Germans, citizens of Germany, people of German ancestry, or native speakers of the German language
** For citizenship in Germany, see also Ge ...
subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...
of one of the largest
Swedish bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
s, the
Skandinaviska Enskilda Banken
Skandinaviska Enskilda Banken AB (; lit. "Scandinavian Private Bank"), abbreviated SEB, is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Nor ...
(SEB).
History
In Germany, the bank began its business activities in 1976 with its own subsidiary (''Deutsch-Skandinavische Bank'', later ''Skandinaviska Enskilda Banken AG''). In the year 2000 the SEB group acquired the former ''Bank für Gemeinwirtschaft'' (BfG), which was renamed SEB AG in 2001. In the private customer business, the SEB had 174 branches and one million customers in Germany. At the end of January 2011, the SEB sold its private customer business in Germany to the
Spanish Santander Consumer Bank. Since then, the bank has concentrated in Germany on its core activities, business with companies and institutional clients. As part of this strategy, the SEB AG sold its subsidiary SEB Asset Management AG at the end of August 2015, including its significant holding SEB Investment GmbH. At the beginning of 2018, the SEB transferred its main business activities – the collaboration with companies, institutional clients and international real estate investors - to a branch (SEB AG Frankfurt Branch) of the Skandinaviska Enskilda Banken AG (publ). The SEB's head office in Germany is in Frankfurt am Main, and the bank also has a location in
Munich
Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...
.
On 4 December 2018, SEB AG changed its name to DSK Hyp AG.
Business
In Germany, the company was active in the fields of corporate clients, institutional clients and structured
real estate finance. In 2005, it became the first commercial bank to issue
mortgage bonds. The former ''SEB Hypothekenbank'' was therefore incorporated as a mortgage and bonds bank in the SEB AG. The bonds business of SEB in Germany continues to be operated by the SEB AG.
Solvency
SEB AG was rated A2 by the
Credit rating agency
A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of default. An agency may ra ...
Moody's
Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its histo ...
. Moody's rates SEB AG's public sector bonds and
mortgage bonds Aaa. (As of: July 2015)
Subsidiaries
* SEB Leasing GmbH (leasing services)
* ''Frankfurter Vermögens Holding GmbH'' (FVH)
References
External links
Official Website DSK Hyp AG
{{Authority control
Banks based in Frankfurt
Mortgage lenders
1976 establishments in West Germany