Top Banks in Sweden

An overview of leading Swedish financial institutions

Overview of Banks in Sweden

Currently, there are more than 114 banks in Sweden. The four biggest banks in Sweden account for more than 80% of the industry’s total assets. The Swedish banking system comprises four categories. They are:

  • Commercial banks
  • Foreign banks
  • Savings banks
  • Co-operative banks

According to Moody’s, the outlook for Sweden’s banking system is stable, due to strong operating conditions and low interest rates, resulting in more solid profitability and asset quality.

For anyone considering a career in banking in Sweden, this list of the top banks in Sweden is a helpful guide on where to start.  To learn more, see our lists of financial institutions.


Banks in Sweden


The top banks in Sweden are:


Nordea Bank AB

Founded in 2000, Nordea Bank is the largest financial group in the Nordic region. The bank employs around 31,596 staff and is present in 19 countries. Headquartered in Stockholm, the bank operates through 1,400 branches in Sweden, Denmark, Norway, Finland, Estonia, Latvia, and Lithuania.

Nordea Bank offers a range of services such as personal banking, commercial and business banking, wholesale banking, and wealth management. In 2016, the bank posted a total income of US$11,732 million and reported total assets of US$728 billion.


SEB Bank

Founded in 1972, Skandinaviska Enskilda Banken AB (SEB) is headquartered in Stockholm. The bank offers financial, life insurance, and Eurocard services. It also operates in Baltic countries, New York, São Paulo, London, Luxembourg, Geneva, Warsaw, Moscow, St Petersburg, Kiev, Beijing, Shanghai, Hong Kong, Singapore, and New Delhi.

The bank currently employs 16,000 individuals and serves 400,000 small and medium-sized enterprises (SMEs), 3,000 corporate and institutional customers, and more than four million individuals. As of 2016, the bank’s total income was US$51,728 million and total assets were US$3,097 billion.


Svenska Handelsbanken AB

Established in 1871, making it one of the oldest banks in Sweden, Svenska Handelsbanken offers banking products and services to individuals and corporate customers. The bank provides services in the areas of asset management and cash management, bank relations, debt capital markets, asset finance international trade, corporate finance, research, advisory, securities, sales and execution, and pension and advisory services.

Headquartered in Stockholm, the bank manages 800 offices in 20 countries, including the United Kingdom, Denmark, Finland, Norway, and the Netherlands.

Svenska currently employs 11,759 staff. In 2016, the bank posted a total income US$5,029.8 million and reported total assets of US$324.2 billion.


Swedbank AB

Founded in 1997, Swedbank AB provides banking services in the Nordic-Baltic region. They are active in areas such as loans, payments, and savings. The bank currently employs 7,714 staff. Headquartered in Vienna, it is also present in Sweden, Estonia, Latvia, and Lithuania. Swedbank serves four million customers and 266,000 corporate clients through its 248 branches in Sweden and abroad.

In 2016, the bank’s total income reached US$5,137 million and total assets amounted to US$265.8 billion.


Forex Bank

Founded in 1927, Forex Bank specializes in currency exchange services. The bank currently employs 1,238 staff and manages 110 branches. It is present in four countries: Sweden, Denmark, Finland, and Norway.

In 2003, Forex Bank formally started providing banking services through current and savings accounts, which also included internet and mobile banking, loans, debit and credit cards, cash handling, money transfers, and payments.


Nordnet Bank

Nordnet Bank provides investments, savings, loans, and pensions services. The bank is a fund retailer, starting as a broker and now operating as one of the banks in Sweden. Headquartered in Sweden, it currently employs 400 individuals. The bank is also present in Norway, Denmark, and Finland.

In 2016, it reported a total income of US$147.6 million and total assets of US$8.7 billion.


Ikano Bank

Ikano Bank is part of Ikano Group, which develops, owns, and manages companies in the finance, real estate, insurance, and retail industries. Founded in 1995, the bank provides consumer finance. Headquartered in Malmo, it employs 3,800 staff. Ikano Bank is also present in the UK, Norway, Denmark, Finland, Germany, Austria, and Poland.

As of 2016, the bank’s total income was US$341 million and total assets were US$5,125 million.


Avanza Bank

Founded in 1999, Avanza Bank provides banking services to individuals and corporations. Headquartered in Stockholm, the bank currently employs around 343 staff. The Avanza Group consists of the parent company, Avanza Bank Holding AB, and four wholly owned subsidiaries.

In 2016, the total income of the bank reached US$113.4 million and total assets amounted to US$12.4 billion.


ICA Banken

Established in 2001, ICA Branden operates as one of the regional banks in Sweden and provides private and commercial banking services. In 2015, the bank began offering insurance services through its subsidiary, ICA Insurance.

Headquartered in Solna, ICA Branken currently serves approximately 713,000 customers and employs around 356 individuals. In 2016, the bank reported a total income US$12,790 million and total assets of US$5,116 million.



Founded in 1927, Resursbank provides retail financing services. The bank employs 926 individuals and operates through two segments: Consumer Loans and Payment Solutions. The Consumer Loans segment provides unsecured loans directly to consumers to finance investments in home, travel, or other consumer goods. The Payment Solutions segment offers sales-driving finance, loyalty, and payment solutions to retailers, as well as credit cards to the public.

Headquartered in Helsingborg, the bank is present in Sweden, Denmark, Norway, and Finland. As of 2016, the bank’s total income was US$345.02 million and total assets were US$3,678 million.


Careers in investment banking

To break into investment banking, there are several important things to focus on.  These include networking, resume, experience, and financial modeling skills.  To learn more, explore our interactive career map

investment banking careers

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Additional resources

This has been CFI’s guide to the top banks in Sweden.  For anyone looking for a career in banking, this list is a great place to start your networking.  Please also see these additional resources:

  • Accounting firms in Canada
  • Top 10 banks in Canada
  • Investment banking interview questions
  • Walk me through a DCF
  • Financial modeling guide

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