Swedbank Annual review 2008

2008 in brief

The year was dominated by turbulence and dramatic events in the financial markets, which adversely impacted the entire economy. Swedbank was affected by the rapidly changing macroeconomic conditions, particularly in the Baltic countries. Nonetheless, Swedbank reported good profitability in all business areas.

  • Profit for the year amounted to SEK 10 887m (11 996), excluding impairment of goodwill SEK 12 290m.
  • In autumn 2008, Swedbank implemented a SEK 12.4bn rights issue, which was finalized in January 2009.
  • The Swedish National Debt Office granted Swedbank’s application to participate in the Swedish state’s guarantee programme
  • Swedbank appointed Michael Wolf as President and CEO. He takes up his new position on 1 March 2009.
  • In autumn 2008, Hansabank began the process of changing its name to Swedbank.

Vision & Business concept

Swedbank shall be the leading financial institution in its home markets.

By understanding and acting on their needs, Swedbank can offer customers the best financial solutions and thereby improve the quality of their lives.
Read more

The Chairman of the board

2008 will go down in modern history as a year of financial crisis. Just as the downturn came suddenly, a rebound can occur faster than many people expect.
Read more

The CEO

We are close to our customers via our branches, the Internet Bank and the Telephone Bank, and our many competent employees. We have the knowledge and experience that are valuable in times of uncertainty and concern.
Read more