SEB Vilniaus dabbles in rubles

  • 2005-08-03
  • From wire reports
VILNIUS - SEB Vilniaus Bankas has announced that it launched trade in Ukraine and Russia's national currencies, making it the only major Lithuanian bank to exchange the hrinva and ruble at all customer service units.

"We are well aware of the situation on the markets in Ukraine and Russia, which are attracting a growing number of our customers. More and more Lithuanian companies are setting up their representative offices and expanding their business in those countries," Vykintas Misiunas, director of the bank's finance department, said in a press release.

"We have decided to offer them a new, convenient possibility to buy and sell cash money in our bank before departing to those countries or upon arrival," he said.

SEB Vilniaus Bankas entered the East European markets in January with the purchase of Ukraine's Agio bank. According to the bank's data, over 6,000 companies from the markets where SEB banks are present, including 652 Lithuanian manufacturing, trade and service companies, have entered the Ukrainian market.

Nordic finance group SEB, which owns 97.9 percent of SEB Vilniaus Bankas, offers banking services in Sweden, Germany, the Baltic countries and Poland via 670 branches.