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Stockholms Enskilda Bank was the house bank of the Wallenberg family dynasty, founded by André Oscar Wallenberg in 1856. By 1876, it was one of the most commercially aggressive private banks in Sweden, issuing its own notes in direct competition with the Riksbank at a time when Sweden's transition toward a centralized note-issuing monopoly was already underway. Private bank note issuance was being systematically curtailed through this period; the Riksbank would ultimately consolidate that monopoly by 1904.

Notes from this bank are scarcer than their Riksbank contemporaries — private issuance volumes were modest, redemption rates high, and surviving examples rarely escaped the bank's own vaults intact.