1972- Merger with Skandinaviska Banken
On 1 January 1972, Skandinaviska Banken and Stockholms Enskilda Bank merged to form Skandinaviska Enskilda Banken, with the aim of creating a bank which could meet the competition from the major international banks. The new bank had 6,730 employees, 393 branches, a well-established customer base and good relationships with many of Sweden's biggest companies.
In 1974, the subsidiary Aktiv Placering was established for investment advice and fund administration. Deutsch-Skandinavische Bank was opened in 1976 in Frankfurt, the subsidiary Scandinavian Securities Corporation was formed in New York, and Finansskandic was purchased. The international network expanded in 1977 with a subsidiary bank in Luxemburg. The general meeting of shareholders approved a profit-sharing system for the staff for a trial period of three years.
The representative branch in Singapore was replaced in 1979 by a wholly-owned subsidiary bank, thus becoming the first Swedish bank in Asia.