How it started
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 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.
In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share of Estonia's payments.
From Wikipedia’s article on Swedbank, shared under CC BY-SA 4.0.3