Formerly known as AS Unibanka (Latvijas Universālā banka), in 2005 the bank was rebranded to SEB Unibanka as a result of cooperation with major investor Skandinaviska Enskilda Banken (SEB). The rebranding followed the acquisition of shares of SEB banka by SEB in June 2007, when the Scandinavian bank became the only one holder of SEB banka shares. From 7 April 2008, the bank works under the name SEB banka. Its subsidiaries SEB Wealth Management (SEB Funds), SEB Dzīvības apdrošināšana (life insurance company), SEB līzings (SEB leasing) and SEB atvērtais pensiju fonds (the public pension fund) provide full range of investment and financing services and products.
Another subsidiary of the bank, SEB Enskilda, is the Investment Banking arm of the SEB Group providing investment banking and corporate financial services to corporate customers. SEB Enskilda started operations in Baltic countries by taking over control of SEB VIlfilma, corporate finance arm of SEB Group in the Baltic countries. Now SEB Enskilda has offices in Riga, Tallinn and Vilnius, in addition to formerly opened offices in Stockholm, Helsinki, Copenhagen, Oslo, London, Frankfurt and New York. SEB Enskilda provides professional advice and assistance to companies in business expansion and restructuring (mergers and acquisitions), equity financing, raising capital and privatization, especially in transactions related to Nordic and Baltic region.
Together with the other banks of the SEB Group SEB banka forms one of the major financial institutions in the region, serving more than 4 million clients in 20 countries.