SEB's German subsidiary, BfG has clocked up over 150,000 e-bank customers - an increase of 131 per cent since its acquisition a year ago.
The German bank expects e-banking transactions to increase further through its online broker SEBdirect and through cooperation with two financial portals, wallstreet:online and the Gerling insurance group. Customers can already trade securities via wallstreet:online, says the company, with orders, account transfers and portfolio management handled by SEBdirect.
BfG will change its name to SEB in the beginning of the second quarter 2001, in line with the Scandinaivan bank's bid to build a well-branded pan-European online presence. SEB currently has more than 800,000 e-customers in Europe and plans to start e-banking in England and in Norway this year.