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| Company name | Swedbank AB | | Company type | Publicly-traded Aktiebolag (OMX - SSE120SWED) | | Industry | Financial services | | Founded | 1820 | | Headquarters | Stockholm, Sweden | | Key people | Michael Wolf (President and CEO), Lars Idermark (Chairman) | | Products | Retail banking, mortgage loans, corporate banking, merchant processing services | | Revenue | SEK 34,782 million (2009) | | Operating income | (-) (SEK 9,461 million) (2009) | | Net income | (-) (SEK 10,511 million) (2009) | | Total assets | SEK 1,795 billion (2009) | | Total equity | SEK 89.97 billion (2009) | | Employees | 21,770 (2009) | | Subsidiary | Swedbank Luxemburg, Swedbank Russia, Hansabank Estonia, Swedbank Latvia, Swedbank Lithuania, Swedbank Ukraine |
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Swedbank AB (formerly called FöreningsSparbanken) is a leading Nordic-Baltic banking group with 9.5 million retail customers and 534,000 corporate customers in Sweden, Estonia, Latvia, and Lithuania. In Sweden, the group has 377 branches. In the Baltic countries, it has another 224 branches. Elsewhere, the group is present in Copenhagen, Helsinki, Kaliningrad, Kiev, Luxembourg, Moscow, Marbella, New York, Oslo, Shanghai, Saint Petersburg, and Tokyo.
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 registers 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 in English). At the same time, FöreningsSparbanken Jordbrukskredit AB changed its name to Swedbank Jordbrukskredit AB. Other subsidiaries will change their names at later dates.
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