As SEB has previously communicated, the German public prosecutor has an ongoing investigation regarding so-called cum-ex transactions, in which the purpose is to recover tax that was not paid. In this investigation, a number of individuals previously employed by SEB’s German subsidiary DSK Hyp AG are mentioned.
To the best of our knowledge, SEB in Germany has not offered or conducted transactions where the purpose is to recover tax that was not paid. We distance ourselves from that type of arrangement.
As part of this investigation, the public prosecutor has on 14 and 15 December 2021 visited the bank’s office in Frankfurt and requested information. SEB is cooperating with the authorities.
As this is an ongoing investigation, we cannot provide any further comments at this moment in time.
For further information, contact:
Frank Hojem, Head of Corporate Communication
+46 70 763 9947
Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
SEB is a leading northern European financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. We take a long-term perspective and support our customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in our presence in more than 20 countries worldwide, with around 15,500 employees. On 30 September 2021, the Group's total assets amounted to SEK 3,585bn while its assets under management totaled SEK 2,422bn. Read more about SEB at https://www.sebgroup.com