Skandinaviska Enskilda Banken AB chief executive Annika Falkengren said the bank is keen to continue buying banks in Russia and the Ukraine, but added it is "hard" to find suitable targets, newspaper Dagens Industri reported, according to Thompson Financial.

"We would (also) very much like to continue growing our corporate business in Germany. We are looking to see if there are any acquisitions we can do to speed this up," Falkengren said.

She said it will be difficult for SEB AB`s German retail operations to reach the same level of profitability as the wider group, which leaves the bank with two alternatives -- either to complement them with acquisitions or to sell them.