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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.
Swedbank AB is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. [2]
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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]
SEB is one of the largest banks in Estonia, Latvia, and Lithuania, where Swedbank, another of Sweden's big four banks, is amongst its primary rivals. The SEB Group also has operations in most other Nordic countries , as well as larger foreign markets like Germany and the United Kingdom .
The bank is subject to the Bank Act and is independent, but has a close coroparation with Swedbank. Its business area includes Arvika (headquarters), Eda and Årjäng municipalities serving via seven offices. The bank has over 100 employees and is an active member of the Savings Banks Association.
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 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]