Currently, there are more than 150 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:
According to Moody’s, the outlook for Sweden’s banking system is stable, due to strong operating conditions and low interest rates. High asset quality, solid capital adequacy, and profitability ratios limit the probability of an event risk.
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.
The Top Banks in Sweden are:
Founded in 1856, 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 15,515 individuals and serves 400,000 small and medium-sized enterprises (SMEs), 3,000 corporate and institutional customers, and more than four million individuals.
Net income: SEK 15.75 billion (2020)
Total assets: SEK 3.44 trillion (3/2021)
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, Svenska operates approximately 376 branches in Sweden, 204 in the United Kingdom, 45 in Norway, 43 in Denmark, 27 in Finland, and 29 in the Netherlands, as well as eight branches in other countries. it currently employs 12,396 staff.
Net income: SEK 15.59 billion (2020)
Total assets: SEK 3.49 trillion (3/2021)
Founded in 1820, 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 16,306 staff.
Headquartered in Sundbyberg, Swedbank oversees 159 branches in Sweden, 18 branches in Estonia, 22 in Latvia, and 42 in Lithuania. It also operates in Norway, Finland, Denmark, China, the United States, and South Africa. It serves four million customers and 266,000 corporate clients.
Net income: SEK 12.93 billion (2020)
Total assets: SEK 2.83 trillion (3/2021)
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 provides investments, savings, loans, and pension 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 around 500 individuals. It is also present in Norway, Denmark, and Finland.
Net income: SEK 377 million (2019)
Total assets: SEK 115.6 billion (2019)
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, Ikano Bank employs 932 staff. It is also present in the UK, Norway, Denmark, Finland, Germany, Austria, and Poland.
Net income: SEK -167 million (2020)
Total assets: SEK 42.97 billion (3/2021)
Founded in 1999, Avanza Bank provides banking services to individuals and corporations. Headquartered in Stockholm, the bank currently employs around 340 staff. The Avanza Group consists of the parent company, Avanza Bank Holding AB, and four wholly-owned subsidiaries.
Net income: SEK 1.34 billion (2020)
Total assets: SEK 166.88 billion (2020)
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 450 individuals.
Net income: USD 12.7 million (2016)
Total assets: USD 5.12 billion (2016)
Founded in 1977, Resursbank provides retail financing services. The bank employs 679 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.