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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. Today, Swedbank has 7 million private customers and 555 000 corporate customers. Swedbank is the largest bank in both Estonia and Latvia. [7]
Latvia's four largest banks are Swedbank, SEB Group, Citadele Banka and Luminor. [2] In 2023, Swedish Swedbank and SEB Group held more than half of Latvia's banking market. [3] [4] The largest banks and financial institutions in Lithuania, Latvia and Estonia are largely the same and mostly dominated by Swedish companies. [5] [6] [7]
This is a list of banks in Sweden, updated from official Swedish financial regulator Finansinspektionen on 2008-03-11.. At the end of 2023, there were 123 banks in Sweden. They can be divided into four groups: Swedish corporate banks, foreign banks, savings banks and member banks.
BankID is an electronic identification system in Sweden.With a usage rate of 94% among smartphone users, it is the single largest such service in Sweden by a large margin, and is administered by Finansiell ID-Teknik BID AB that is owned by several Swedish and Scandinavian banks.
In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family , which is still SEB's largest shareholder through major investment company Investor AB .
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
Nowadays, its main rivals in the Latvian banking market are Swedbank, Luminor and Citadele bank. [2] SEB banka has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. [3] [4]
The accounts do not generate as much revenue as traditional private banking, but given the number of customers, can provide sizeable revenue to the bank. In 2016, Credit Suisse and UBS replaced the phrase "private banking" with "wealth management"; private banking has faced reputational risk as an area for tax avoidance or even tax evasion. [9]