Sweden’s second-largest bank by assets, SEB,
plans to sell its retail banking operations in Ukraine to
Eurobank.

The sale is expected to be finalised by
mid-2012.

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SEB’s business in Ukraine is limited, the
lender has said in a statement.

SEB has said that the lender will remain in
Ukraine as a corporate bank and continue to “serve its Nordic,
Baltic and German corporate and institutional customers”.

The completion of sale of SEB’s Ukranian
retail unit is conditional upon regulatory approvals.

SEB’s total assets amounted to SEK2,359bn
($346.97bn), as of 30 September, 2011, and the group has over
17,500 employees.

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