View source for Swedbank

{{Short description|Swedish banking group}}
{{Use dmy dates|date=October 2025}}
{{Infobox company
| name = Swedbank AB
| logo = Swedbank logo.svg
| image = Cirkusängen 6 September 2014 05.jpg
| image_size = 250px
| image_alt = 
| image_caption = Swedbank's global HQ in [[Sundbyberg]] ([[Stockholm]]), Sweden
| type = [[Public company|Publicly traded]] [[Aktiebolag]]
| traded_as = {{OMX|SSE120|SWED}}<br>[[OMX Stockholm 30]]
| ISIN =  SE0000242455<ref>{{cite web | title=SWED A, Swedbank A, (SE0000242455) | website=Nasdaq | url=https://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE120 | access-date=20 January 2024}}</ref>
| foundation = {{start date and age|df=yes|1820}}
| founder = 
| location = [[Sundbyberg]], Sweden
| locations = 
| area_served = Sweden, Estonia, Latvia, and Lithuania
| key_people = [[Göran Persson]]<br>{{small|(Chairman)}}<br>Jens Henriksson<br>{{small|(President and CEO)}}
| industry = [[Financial services]]
| products = [[Retail bank]]ing, [[mortgage loan]]s, corporate banking, [[Merchant services|merchant processing services]]
| services = 
| revenue = US$7.17&nbsp;billion <small>(2019)</small>
| operating_income = US$1.54&nbsp;billion <small>(end 2011)</small>
| net_income = US$2.28&nbsp;billion <small>(2016)</small>
| assets = US$376.01 Billion <small>(2019)</small>
| equity = US$98.133&nbsp;billion <small>(2011)</small>
| num_employees = 15,614 <small>([[full-time equivalent|FTE]], 2019)</small>
| divisions = 
| subsid = Swedbank Estonia, Swedbank Latvia and Swedbank Lithuania
| homepage = [http://www.swedbank.com/ www.swedbank.com]
}}

'''Swedbank AB''' is a Swedish [[Multinational corporation|multinational]] banking group headquartered in [[Stockholm]], Sweden. It operates primarily in the [[Nordic countries|Nordic]] and [[Baltic States|Baltic]] regions, offering services such as [[retail banking]], [[asset management]] and other financial services.<ref>{{cite web| title = Company Profile for Swedbank AB (SWEDA)| url = https://www.bloomberg.com/quote/SWEDA:SS/profile/| publisher = Bloomberg| access-date =1 November 2012}}</ref> Swedbank has extensive retail operations in Sweden, Estonia, Latvia, and Lithuania.
[[Image:Swedbank.png|thumb|210px|Swedbank alternative logo used in the past.]]
==History==
The first Swedish savings bank was founded in [[Gothenburg]] in 1820. In 1992, a number of local savings banks merged to create '''Sparbanken Sverige''' ("Savings Bank Sweden").  In 1995, this bank was listed on the [[Stockholm Stock Exchange]] and in 1997, it merged with [[Föreningsbanken]] under the combined name '''FöreningsSparbanken''' (abbreviated '''FSB''').  During the [[2008 financial crisis]], Swedbank accepted government assistance due to its losses from loans made to neighboring [[Baltics|Baltic]] economies.

On 8 September 2006, Föreningssparbanken AB changed its name to ''Swedbank AB''. The name change took place in the afternoon local time, after the Swedish Companies Registration Office registered the changes in the company's articles of association. On the same date, the subsidiary AB Spintab changed its name to ''Swedbank Hypotek AB'' ("Swedbank Mortgage AB") and FöreningsSparbanken Jordbrukskredit AB changed its name to ''Swedbank Jordbrukskredit AB'' ("Swedbank Agricultural Credit AB"). Other subsidiaries will change their names at later dates.

In 2013 Swedbank closed its operations in Russia and sold its Ukrainian subsidiary.<ref>{{cite web |title=Important events in Swedbank's history |url=https://www.swedbank.com/about-swedbank/our-history/our-history-in-brief.html |access-date=30 August 2023}}</ref>

In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60%  market share of Estonia's payments.<ref name="theguardian.com">[https://www.theguardian.com/business/2019/mar/28/swedbank-chief-sacked-birgitte-bonnesen-amid-money-laundering-scandal Swedbank chief sacked amid money laundering scandal] Guardian 28 March 2019</ref>

==Headquarters==
The current Swedbank Headquarters was inaugurated in 2014 in [[Sundbyberg Municipality]]. The building was designed by [[3XN]].<ref>{{cite web|url=http://www.worldarchitecturenews.com/project/2014/24337/3xn-architects/swedbank-headquarters-in-stockholm.html?q=3xn|title=45,000 sq m HQ opens in Stockholm|publisher=World Architecture News|access-date=10 December 2017}}</ref>

==Organisation==
[[File:Swedbank Automat.jpg|thumb|Swedbank sign above an [[automated teller machine]] in [[Karlskrona]].]]
{{multiple images
 | total_width = 280
 | border =
 | perrow = 1/1
 | caption_align = center
 | image_style = border:1;
 | image1 = Swedbank Headquarters in Vilnius, Lithuania by Augustas Didžgalvis.jpg
 | alt1 = Swedbank in [[Vilnius]], Lithuania
 | caption1 = Swedbank in [[Vilnius CBD]], Lithuania
 | image2 = Business center 3 Burės in Vilnius, Lithuania by Augustas Didžgalvis.jpg
 | alt2 = Swedbank in [[Vilnius]], Lithuania
 | caption2 = Swedbank in [[Vilnius CBD]], Lithuania
}}
[[File:FöreningsSparbanken (logo).jpg|thumb|The Swedbank logo (1997—2006). FöreningsSparbanken was created in 1997 through a merger between Sparbanken and Föreningsbanken. The unusual corporate name and logo were compromises of the merger of two different corporate cultures.]]

In 2023 Swedbank had 7.2&nbsp;million retail customers and 555,000 corporate customers in Sweden, Estonia, Latvia, and Lithuania.<ref name=":0">{{Cite web|title=Quick facts about Swedbank |url=https://www.swedbank.com/about-swedbank/quick-facts.html}}</ref>  The group has 226 branches in Sweden and in the Baltic countries.<ref name=":0" />  It also maintains a presence in [[Copenhagen]], Helsinki, New York City, [[Oslo]], Shanghai and [[Johannesburg|Johannesbourg]].

Swedbank has close cooperation with about 60 local, but still independent, savings banks who chose not to join during the 1992 merger. These banks use FSB logos and customers have the same access to independent banks and branches belonging to FSB. Two relatively large independent savings banks, including the one in [[Skåne]], have chosen not to cooperate with Swedbank and continue to use the logo used by Sparbanken before the merger with Föreningsbanken.

Together with the independent savings banks, Swedbank has branches all over Sweden. The bank has more than 16,000 employees across its operations in Sweden and abroad.<ref name=":0" /> Jens Henriksson is president and CEO, while former Swedish Prime Minister [[Göran Persson]] is chairman.<ref>{{cite web | title=Jens Henriksson | website=Swedbank | date=1 October 2019 | url=https://www.swedbank.com/about-swedbank/management-and-corporate-governance/ceo-and-group-executive-management/photos-and-cvs/jens-henriksson.html | archive-url=https://archive.today/20250612180825/https://www.swedbank.com/about-swedbank/management-and-corporate-governance/ceo-and-group-executive-management/photos-and-cvs/jens-henriksson.html | archive-date=12 June 2025 | url-status=live | access-date=12 June 2025}}</ref><ref>{{cite web | title=Göran Persson | website=Swedbank | date=20 May 2024 | url=https://www.swedbank.com/about-swedbank/management-and-corporate-governance/the-board-of-directors/photos-and-cvs/goran-persson.html | archive-url=https://archive.today/20250612180826/https://www.swedbank.com/about-swedbank/management-and-corporate-governance/the-board-of-directors/photos-and-cvs/goran-persson.html | archive-date=12 June 2025 | url-status=live | access-date=12 June 2025}}</ref>

==Market position==
Swedbank is one of the primary banks in Sweden, together with [[Nordea]], [[Handelsbanken]], and [[Skandinaviska Enskilda Banken|SEB]]. In 2001, a deal to merge Swedbank (then FSB) with SEB failed as the [[European Commission]] thought that the merged company would have had too dominant a position in the Swedish banking market. 

Swedbank is the largest bank in both Estonia and Latvia<ref>{{cite web |title=Swedbank in Estonia |url=https://www.swedbank.ee/about |access-date=30 August 2023}}</ref> and second largest in Lithuania.<ref>{{cite web | last=Šimelevičienė | first=Jurgita | title=Lietuvoje – naujas didžiausias bankas: ekspertai įvertino, ką tai reiškia | trans-title = New bank takes over as Lithuania's largest: experts assess what it means | website=[[15min]] | date=29 May 2025 | url=https://www.15min.lt/verslas/naujiena/finansai/didziausio-banko-lietuvoje-karuna-uzsidejo-revolut-kas-tai-leme-662-2459020 | archive-url=https://web.archive.org/web/20250609113108/https://www.15min.lt/verslas/naujiena/finansai/didziausio-banko-lietuvoje-karuna-uzsidejo-revolut-kas-tai-leme-662-2459020 | archive-date=9 June 2025 | url-status=live | language=lt | access-date=9 June 2025}}</ref> As of 2025, the bank has 7 million private customers and 555 000 corporate customers.<ref>{{cite web | title=Finansinspektionens beslut | website=Finansinspektionen | date=15 March 2023 | url=https://fi.se/contentassets/ee66531f570f4e738f897d4c15a4b257/beslut-anm-sanktion-swb-230314.pdf | archive-url=https://web.archive.org/web/20240119134912/https://fi.se/contentassets/ee66531f570f4e738f897d4c15a4b257/beslut-anm-sanktion-swb-230314.pdf | archive-date=19 January 2024 | url-status=dead | access-date=9 June 2025 | quote=Swedbank har omkring 7 miljoner privatkunder, varav cirka 4 miljoner i Sverige, och cirka 550 000 företagskunder, varav omkring 300 000 i Sverige. Det innebär att Swedbank är Sveriges största bankkoncern sett till antalet kunder. | trans-quote=Swedbank has around 7 million private customers, of which around 4 million are in Sweden, and around 550,000 corporate customers, of which around 300,000 are in Sweden. This means that Swedbank is Sweden's largest banking group in terms of number of customers.}}</ref> Swedbank has been plagued by low [[customer satisfaction]] for many years.<ref>{{cite web | last=Adin | first=Rebecka | title=Swedbanks recept för att bli omtyckta: Svara i telefon bättre | website=[[Göteborgs-Posten]] | date=4 February 2025 | url=https://www.gp.se/ekonomi/swedbank-begransar-oppettider-for-att-svara-i-telefon.24ab2b6b-b297-4540-a565-c6868a1f0d77 | archive-url=https://archive.today/20250612082738/https://www.gp.se/ekonomi/swedbank-begransar-oppettider-for-att-svara-i-telefon.24ab2b6b-b297-4540-a565-c6868a1f0d77 | archive-date=12 June 2025 | url-status=live | url-access=subscription | language=sv | access-date=12 June 2025 | quote={{Interlanguage link|Svenskt Kvalitetsindex|sv|Svenskt Kvalitetsindex, SKI}}, har mätt kundnöjdheten i bankbranschen sedan 1989. I senaste rapporten hamnade storbanken Swedbank långt ner på rankingen. I kundnöjdhet bland privatkunderna hamnar Swedbank på plats 10 av 11 och på sista plats bland företagskunderna. Anna-Karin Laurell, ny chef för Svensk bankverksamhet på Swedbank bekräftar för Di att de låga resultaten stämmer överens med Swedbanks egna mätningar ({{translation|i=yes|Svenskt Kvalitétsindex (Swedish Quality Index), has measured customer satisfaction in the banking industry since 1989. In the latest report, Swedbank ended up far down the ranking. In terms of customer satisfaction among private customers, Swedbank is in 10th place out of 11 and in last place among corporate customers. Anna-Karin Laurell, new head of Swedish banking at Swedbank confirms to [[Dagens industri|Di]] that the low results are consistent with Swedbank's own surveys}})}}</ref> The bank has consistently ranked in the bottom among Swedish banks for both private and corporate customers.<ref>{{cite web | last=Söderlund | first=Ola | title=Företagskunder ger Swedbank sämst betyg | trans-title = Corporate customers give Swedbank the worst rating | website={{Interlanguage link|Dagens PS|sv|Dagens PS}}  | date=19 September 2022 | url=https://www.dagensps.se/foretag/foretagskunder-ger-swedbank-samst-betyg/ | archive-url=https://web.archive.org/web/20250609115509/https://www.dagensps.se/foretag/foretagskunder-ger-swedbank-samst-betyg/ | archive-date=9 June 2025 | url-status=live | language=sv | access-date=9 June 2025 | quote=Både företagskunder och privatkunder ger Swedbank lägst betyg bland storbankerna i Svenskt kvalitetsindex nya undersökning. ({{translation|i=yes|Both corporate and private customers give Swedbank the lowest rating among the major banks in the new Swedish Quality Index survey.}})}}</ref> Swedbank has had low customer satisfaction for many years during 2010s and 2020s.<ref>{{cite web | last=Kronö | first=Simon | title=Kundernas dom – banken som är sämst på privatlån | trans-title = Customers' verdict – the worst bank for loans | website={{Interlanguage link| Realtid |sv|Realtid.se}} | date=3 December 2024 | url=https://www.realtid.se/bank-fintech/kundernas-dom-banken-som-ar-samst-pa-privatlan/ | archive-url=https://web.archive.org/web/20250609115340/https://www.realtid.se/bank-fintech/kundernas-dom-banken-som-ar-samst-pa-privatlan/ | archive-date=9 June 2025 | url-status=live | language=sv | access-date=9 June 2025 | quote= Swedbank och SEB hamnar återigen i botten när svenska kunder betygsätter sina banker. Det visar årets kundnöjdhetsmätning från {{Interlanguage link|Svenskt Kvalitetsindex|sv|Svenskt Kvalitetsindex (SKI)}}. Särskilt inom privatlån är missnöjet stort med Swedbank, som får lägst betyg av alla aktörer. ({{translation|i=yes|Swedbank and SEB are once again at the bottom when Swedish customers rate their banks. This is shown in this year's customer satisfaction survey from {{Interlanguage link|Svenskt Kvalitetsindex|sv|Svenskt Kvalitetsindex (SKI)}}. Dissatisfaction with Swedbank is particularly high in the area of personal loans, where it receives the lowest rating of all players.}})}}</ref><ref name="b292">{{cite web | last=Fagerlind | first=Anna de Lima | title=Bankerna med mest och minst nöjda kunder | trans-title = Banks with the most and least satisfied customers | website={{Interlanguage link|Finansliv|sv|Finansliv}}  | date=28 September 2022 | url=https://www.finansliv.se/artikel/bankerna-med-mest-och-minst-nojda-kunder/ | archive-url=https://web.archive.org/web/20250609113011/https://www.finansliv.se/artikel/bankerna-med-mest-och-minst-nojda-kunder/ | archive-date=9 June 2025 | url-status=live | language=sv | access-date=9 June 2025 | quote= I botten hamnar Swedbank, både bland företags- och privatkunder. ({{translation|i=yes|Swedbank is at the bottom, both among corporate and private customers.}})}}</ref>

== Regulatory issues ==

=== Money laundering ===
On 20 February 2019 Swedish broadcaster [[Sveriges Television|SVT]] revealed that Swedbank is under investigation for alleged link in [[money laundering]] scandal by Estonian authorities due to [[Danske Bank money laundering scandal|suspicious transactions through Danske Bank]] which is being investigated in Denmark, Estonia, Britain, France and the United States. Estonian authorities confirmed findings by SVT.<ref>{{cite news|url=https://www.reuters.com/article/us-danske-bank-moneylaundering-swedbank-idUSKCN1Q90RW|title=Estonia investigates alleged Swedbank link to money laundering scandal|newspaper=Reuters |date=20 February 2019|via=www.reuters.com}}</ref> At least 40&nbsp;billion Swedish crowns (£3.3&nbsp;billion) had been transferred between accounts at Swedbank and Danske in the Baltics between 2007 and 2015, SVT's [[Uppdrag Granskning]] investigative programme reported.<ref>{{Cite web|url=https://www.cnbc.com/2019/02/20/swedbank-linked-to-baltic-money-laundering-scandal-swedish-tv-says.html|title=Swedbank linked to Baltic money laundering scandal, Swedish TV says|last=CNBC|date=20 February 2019|website=www.cnbc.com|access-date=22 February 2019}}</ref> Chief executive Birgitte Bonnesen was fired in March 2019 during the money laundering scandal<ref name="theguardian.com"/> and her severance pay was cancelled. The bank's chairman Lars Idermark resigned the following month. Swedbank was subsequently fined a record 4bn SEK ($380m) by Swedish and Estonian regulators.<ref>{{Cite web|url=https://www.ft.com/content/86d4736a-6cd2-11ea-89df-41bea055720b|title=Swedbank failings on €37bn of transactions revealed in report|date=23 March 2020|website=Financial Times|access-date=6 April 2020}}</ref>
Swedish appeals court found in September 2024 former Swedbank CEO Birgitte Bonnesen guilty of gross fraud over her handling of anti-money laundering protocols in Estonia, sentencing her to 15 months in prison.<ref>{{Cite web|url=https://www.occrp.org/en/news/swedish-court-sends-ex-ceo-of-swedbank-to-prison|title=Swedish Court Sends Ex-CEO of Swedbank to Prison|date=14 September 2024|website=OCCRP|access-date=14 September 2024}}</ref>

=== Sanction breaches ===
Swedbank Latvia AS was charged by [[OFAC]] in the USA with 386 apparent violations, totalling $3,312,120, breaching sanctions in relation to sending payments to Crimea through US Correspondent banks in 2015 and 2016, Swedbank settled, by agreeing in 2023 to pay $3,430,900 in penalties.<ref>{{cite web |title=OFAC Settles with Swedbank Latvia for $3,430,900 Related to Apparent Violations of Sanctions on Crimea |url=https://ofac.treasury.gov/media/931911/download?inline |date=20 June 2023}}</ref>

== Patron of the University of Latvia ==
Swedbank is a gold patron of the University of Latvia Foundation. Cooperation and support has been received from Swedbank since 2005 to promote the development of education in Latvia by donating to student events and activities. Major projects – Open Mind Research Fellowships 2007/2008. and 2008/2009. as well as annual support for the LU student festival "Aristotelis".<ref>{{cite web | url=https://www.fonds.lv/lepojamies/mecenati/zelta-mecenati/as-swedbank/ | title=AS "Swedbank" }}</ref>

==References==
{{Portal|Banks}}
{{Reflist}}

==External links==
{{Commons category-inline}}
*{{Official website|http://www.swedbank.com/}}

{{OMX Stockholm 30 companies}}
{{OMX Nordic 40}}
{{Members of Euro Banking Association}}
{{Authority control}}

[[Category:Banks of Sweden]]
[[Category:Companies based in Stockholm]]
[[Category:Banks established in 1820]]
[[Category:Swedish brands]]
[[Category:Companies listed on Nasdaq Stockholm]]
[[Category:Companies in the OMX Stockholm 30]]
[[Category:Companies in the OMX Nordic 40]]
[[Category:Office buildings completed in 2014]]
[[Category:3XN buildings]]
[[Category:Primary dealers]]