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Swedbank AB is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. [2]
Sweden's largest banks regardless of measurement type (employees, revenue, capitalisation, assets) is typically a list of four – Swedbank, Nordea, SEB and Handelsbanken. [2] [3] Swedish banks and financial institutions dominate the financial market in the Baltic states – Lithuania, Latvia and Estonia. [4] [5] [6]
In December 2007, the company was headed by a new foreign investor from the Swedbank Group and the bank was renamed as Swedbank Invest. [8] [9] In 2009, the form of ownership and the name of the bank was changed to PJSC Swedbank. [10] [11] In 2013, the Swedbank Group decided to exit the financial market of Ukraine.
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]
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 March 2017, Smart-ID was added as an authentication option to SEB bank and Swedbank's online banking in all three Baltic States. [8] Dokobit, previously known as DigiDoc, began offering its clients the ability to use e-services using Smart-ID in April 2017. [9]
The three banks were – Swedbank, SEB Group and Luminor, all three with Scandianvian roots. [2] The largest banks and financial institutions in Lithuania, Latvia and Estonia are largely the same and mostly dominated by Swedish companies. [3] [4] [5]
In 2005 Swedbank made a buy-out offer to the minority shareholders and as of today Hansabank is a fully owned subsidiary of Swedbank Group. In July 1999, Hansabank's Lithuanian subsidiary Hansabankas opened its doors to clients in Vilnius, adding commercial banking to the services provided by Hansabank Group in Lithuania.