SEB first Nordic bank to offer cross-border trade settlement and
off-shore account services in Chine

(Thomson Reuters ONE) - SEB is the first Nordic bank to provide cross-border trade relatedsettlement and account services including cross-border payments andforeign exchange transactions in Chinese currency Renminbi (RMB) toall corporate customers for settlement of eligible trade transactionsoutside China. All SEB sites can now offer their clients theseservices through SEB in Singapore. In addition, SEB's corporateclients based in China can execute all their financial needs in RMBand foreign currency via SEB's branch in Shanghai."This new service allows all SEB clients to take advantage of thepossibility to use RMB for cross border trade and cross-borderpayments between China and Singapore under the pilot programmelaunched by the Chinese authorities ", says Bo Carlsson Head of SEBSingapore.The pilot programme is seen as a first step in developing the RMBinto an international settlement currency for Chinese exports andimports."With the RMB license that SEB received earlier in the year, we canoffer a complete corporate banking solution within Cash Management,Trade Finance, Foreign Currency Trading and Lending for Chinese basedclients through the Shanghai Branch", Carl Christensson, Head of SEBShanghai continues. SEB is a North European financial group serving some 400,000corporate customers and institutions and five million privateindividuals. SEB offers universal banking services in Sweden, Germanyand the Baltic countries - Estonia, Latvia and Lithuania. It also haslocal presence in the other Nordic countries, Ukraine and Russia anda global presence through its international network in majorfinancial centres. On 30 September 2009, the Group's total assetsamounted to SEK 2,233bn (~EUR 219bn) while its assets undermanagement totalled SEK 1,295bn (~EUR 127bn).The Group has about20,000 employees. Read more about SEB at www.sebgroup.com._____________________________________________For further information, please contact:Bo Carlsson, Head of SEB in Singapore, +65 97248550,bo.carlsson(at)seb.seCarl Christensson, Head of SEB in Shanghai, +86 123 7889 12393,carl.christensson(at)seb.sePress contact: Elisabeth Lennhede, +46 70 763 9916,elisabeth.lennhede(at)seb.sehttp://hugin.info/1208/R/1356932/329931.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 25.11.2009 - 08:00 Uhr
Sprache: Deutsch
News-ID 8812
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