Corporate culture

Swedbank’s corporate culture is based on simplicity, openness and caring. Maintaining the commitment, focus and motivation of Swedbank’s employees requires their understanding of the bank’s purpose and values.

Swedbank’s strongly believe that a traditional banking model with close customer relations is the best way to promote the bank’s purpose and goals. The basis of all advice is the customer’s needs. The business model therefore focuses on advisory services, where authority and responsibility rest as close to customers and business as possible.

Policies and guidelines describe how the bank operates in various respects, an effective operating structure and a reporting structure. The bank has a code of conduct with
guidelines on how employees are expected to act vis-à-vis customers as well as with each other, suppliers, competitors, authorities and the public and society at large. There is also a framework for the delegation process within the Group. Even after a task has been delegated, responsibility still rests with the delegator. However, the person delegated shares that responsibility.

To ensure balanced delegation, rules are in place to determine when various issues should be referred to a higher level or to the CEO and Board for immediate action, so-called “escalation”. This ensures that those ultimately responsible for the bank’s operations maintain the necessary overall control.

Another important component of stability and sound risk-taking in the bank is a well-functioning, market-based remunerationo structure. For more information, see note G12.