Banks in Sweden

Handelsbanken Nordea, Denmark Skandinaviska Enskilda Banken Swedbank, Riga
Handelsbanken Nordea SEB Swedbank

The Sweden’s banking system includes commercial banks, savings banks, co-operative banks and foreign banks. There are about 120 banks and other credit institutions in the country. The banking sector is dominated by four biggest banks which account for nearly 80% of all lending. The major Swedish banks have a lower cost/income ratio than other banks in Europe. According to Moody’s Investors Service, the outlook for the banking system in Sweden is stable due to strong asset quality, solid capital ratios, low interest rates and large volume of deposits.

Carnegie Investment Bank AB – A financial services group with activities in securities brokerage, investment banking and private banking. It was founded in 1803 and is headquartered in Stockholm with branches throughout the Nordic region. In 2010, Carnegie acquired HQ Bank and HQ Fonder to create the clear Nordic leader in investment banking.

Ikano Bank – An internet bank providing financial services in Sweden, Norway, the UK, Denmark, Finland, Germany, Austria and Poland. It has total assets of about SEK 42 billion. The company operates as a subsidiary of Ikano Group.

Forex Bank AB – A financial services company with locations in Sweden, Denmark, Finland, and Norway. It is one of the world’s largest foreign exchange providers. The company is wholly owned by the Friberg family.

Handelsbanken – One of the largest banks in Sweden with a presence in over 20 countries, which makes it the most international bank in the Nordic region. Handelsbanken has the most satisfied customers among the major Nordic banks according to SKI (Swedish Quality Index). Sweden, Denmark, Finland, Norway, Great Britain and the Netherlands are the Bank’s home markets.

Nordea – The leading financial institution in the Nordic and Baltic region with market capitalization of over US$43 billion at May 10, 2018. Nordea is number one or two in the most Nordic markets with about 11 million customers and 600 branches. For the third year in a row, Nordea won in the category of Best Bank in the Nordic region (Global Finance).

Skandinaviska Enskilda Banken – One of Northern Europe’s leading financial groups with more than 4 million customers in Sweden, Denmark, Norway, Finland and the Baltic countries. The Bank’s operations have a strong focus on corporate and investment banking.

Skandiabanken – An internet bank owned by Skandia and based in Sweden. It has one branch office in Stockholm and conducts the rest of its business over the internet and telephone. It is the largest internet-based bank in Scandinavia.

Swedbank – A leading Nordic-Baltic banking group with approximately 8 million private and corporate customers. It has more than 400 branches in its home markets of Sweden, Estonia, Latvia and Lithuania.

Sveriges Riksbank (Bank of Sweden) is Sweden’s central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for monetary policy with the objective to maintain price stability. The bank has also been given the task to promote a safe and efficient payment system. The Riksbank was founded in 1668 and is considered to be the oldest central bank in the world.

Westra Wermlands Sparbank – An independent savings bank in Värmland County in west central Sweden.

 Top Banks in Sweden

 Total assets (SEK billion)

Rank Company 03/2018 12/2017 12/2016 12/2015 12/2014 12/2013 12/2012 12/2011
1 Nordea Bank 5,976 5,719 5,901 5,926 6,344 5,579 5,730 6,387
2 Svenska Handelsbanken 2,964 2,767 2,628 2,522 2,817 2,485 2,384 2,454
3 Skandinaviska Enskilda Banken 2,903 2,560 2,621 2,496 2,641 2,485 2,453 2,359
4 Swedbank 2,469 2,213 2,154 2,149 2,121 1,824 1,847 1,857