Swedbank AB (formerly Föreningssparbanken)
is a leading Nordic-Baltic banking group with 9.5 million retail
customers and 622,000 corporate customers in Sweden, Estonia,Latvia,
and Lithuania. In Sweden, the group has 317 branches. In the Baltic
countries, it has over 200 branches. Elsewhere, the group is presentin Copenhagen, Helsinki,Kaliningrad, Kiev, Luxembourg, Moscow, Marbella, NewYork, Oslo, Shanghai, Saint
Petersburg, and Tokyo.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 registers 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 in
English). At the same time, Föreningssparbanken Jordbrukskredit AB changed its
name to Swedbank Jordbrukskredit AB. Other subsidiaries will change their names
at later dates.The first Swedish saving bank was founded in Gothenburg in
1820. In 1992 a number of local savings banks merged to create Sparbanken
Sverige ("Savings Bank Sweden"), which was known simply
as Sparbanken ("The Savings Bank"). In 1995 this
bank was listed on the stock exchange. In 1997 the bank merged
with Föreningsbanken and the names were combined to create FöreningsSparbanken.
During the late 2000s global financial crisis, Swedbank accepted
government assistance due to its losses from loans made to
neighboring Baltic economies.Swedbank has a close cooperation with
about 60 local, and still independent, saving banks who chose not to join in at
the time of the merger 1992. 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.Michael Wolf is
the Chief Executive Officer and Lars
Idermark is Chairman.
Net
income SEK 11.744 billion (2011)
Total
assets SEK 1.857 trillion (2011)