Savings bank foundations and
savings banks´ ownership

When a savings bank is converted to a banking company, by law a savings bank foundation must be formed primarily to own the shares in the banking company. Several such conversions have taken place over the years, including in the early 1990’s, when eleven of the country’s largest savings banks were converted and later merged into Swedbank (then known as Sparbanken Sverige AB). The merger gave the savings bank foundations ownership of a significant number of the shares in Swedbank. Today there are 22 savings bank foundations, 19 of which together own approximately 21 percent of the shares in Swedbank.

There are around 80 savings banks in Sweden, and Swedbank is part-owner of seven former savings banks that have converted to banking companies. Swedbank has a cooperation agreement with the savings banks, whereby they provide some of Swedbank’s products through their distribution networks. The savings banks together own approximately 8 percent of the shares in Swedbank.