Every single person must be able to build up their finances so that they are strong enough to improve their circumstances – that was the idea behind the opening of the very first savings bank in 1820.
When the first savings bank opened in Gothenburg in 1820, it brought a minor revolution.
And what was viewed as a revolution back in 1820 – depositing money in a bank – is now the most natural thing in the world.
In 1894, the savings bank in Enköping issued a savings book with a small sum of money to the town’s newborn children, and other savings banks followed their example for many years.
Sweden’s first agricultural cooperative credit society was formed in 1915.
Lyckoslanten, Sweden’s oldest children’s magazine, has been published by savings banks since 1926.
At their height, in 1928, there were 498 savings banks all over Sweden.
In 1966, the savings banks established Fastighetsbyrån, which to this day helps buyers and sellers with their property transactions.
But the savings banks had already launched the equity fund Sparinvest back in 1967 through the new company Robur.
In 1977, the savings banks launched Minuten, a nationwide system of cash machines that were connected online – the first in Sweden and among the first in the world.
The financial crisis in 1990 affected the whole country – including the savings banks.
In 1992, eleven of the country’s biggest savings banks merged to create Sparbanken Sverige, at the same time becoming a limited liability company instead of the old savings bank structure.
The next major merger came in 1997, when Sparbanken Sverige and Föreningsbanken formedFöreningsSparbanken– which subsequently changed its name to Swedbank.
Mailings have always been common – for example “Bankboken”, a guide to financial matters that was sent out to 1.7 million households in Sweden in 1999.
In 2006, the bank changed its name to Swedbank.
Work on insolvency was more or less completed around 2012.
In 2019, Swedbank was one of the first banks to sign the UN’s Principles for Responsible Banking.