SEB (SEB Kort) Completes Acquisition of AirPlus International

SEB Group’s subsidiary SEB Kort Bank AB completed the acquisition of AirPlus International GmbH, effective 1 August 2024, following receipt of regulatory approvals. The agreed cash purchase price is approximately EUR 450 million; SEB said the deal will initially reduce its CET1 ratio by ~45–50 basis points and is expected to be EPS accretive in year one (ex. implementation costs).