Swedbank

Swedbank AB (ˈsvɛ̌d(ː)baŋk, ˈsvɛ̌d(ː)bæŋk, ˈswɛ̌d(ː)bæŋk) is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share of Estonia’s payments. 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 late 2000s global financial crisis, Swedbank accepted government assistance due to its losses from loans made to neighboring 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. The current Swedbank Headquarters was inaugurated in 2014 in Sundbyberg Municipality . The building was designed by 3XM. Swedbank has 7.25 million retail customers and 544,000 corporate customers in Sweden, Estonia, Latvia, and Lithuania. The group has 252 branches in Sweden and in the Baltic countries. It also maintains a presence in Copenhagen, Helsinki, New York City, Oslo, Shanghai and 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.