Swedbank

Management

Michael Wolf

Swedbank AB (formerly Föreningssparbanken, short FSB) is a Swedish institution and one of the largest banks in Northern Europe and the Baltic states. President of the Bank is Michael Wolf.

Swedbank has cooperation agreements with about 80 small and medium-sized privately owned savings banks. Only two savings banks are not entered into any contracts, savings banks and savings banks Finn Gripen. Swedbank has around eight million retail customers and 400,000 corporate customers in Sweden, Latvia, Lithuania (Hansa Bankas ) and Estonia. In the Baltic countries, the Bank changed its name until 2009, under the name Hansa Bank, where it has about 250 stores. In Sweden there are 750 times as many.

History

The story is always traversed by mergers and name changes. The most comprehensive merger took place in 1997 when savings banks Sverige and Föreningsbanken merged. The common history of the two banks filed but back to the year 1820 when the first savings bank was founded in Gothenburg. With the merger in 1997 savings banks Sverige bought the smaller Föreningsbanken.

In the Swedish banking crisis, the savings banks faced ruin because the depreciation exceeded the equity on bad loans. The bad loans were transferred to a bad bank, for which adhered to the state. In order to ensure the survival of the bank, the Swedish government had to give a guarantee for all deposits of these savings.

In the Baltic countries, the real estate business of Swedbank during the financial crisis fell since 2008 because of many evictions in the criticism. This would not have been possible in this form in Sweden. In addition, in the mother country, the risk-taking business practices of the foreign bank was criticized in total. The credit losses in the Baltics led there to change the well-established name Hansa Bank .. in Swedbank

In December 2011, a run took place on the bench. About 10,000 Latvians lifted on December 11, a total of more than ten million lats from their accounts from after rumors of a bankruptcy of the bank had been spread on Twitter.

Since 2008 (and then again since 2012 ) Swedbank is investing heavily on franchise subsidiaries in the Spanish real estate market.

In 2013 Swedbank presented their activities in Russia and Ukraine. The branch in the Ukraine was sold to the owner of the main ( owned by the U.S. group Cargill in part ) Delta Bank in Kiev, Mykola Lahun in April 2013.

From 2008 to 2012 about 40 percent in the workforce was reduced.