SE Banken To Open In Tokyo; Will Trade Nordic Currencies

Skandinaviska Enskilda Banken has announced plans to open a branch in Tokyo to trade in the foreign exchange and money markets. The bank, which is awaiting permission from Japanese authorities, would be the first Nordic bank to open in Japan, according to bank officials.

"There are more than 200 Scandinavian companies with subsidiaries in Japan," says Einar Thodal, who is slated to be treasury director for the new branch. "They form a natural market for us. We do business with many of them