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Swedish bank focused on retail and corporate banking in Sweden and the Baltic states (Estonia, Latvia, Lithuania).
Swedish bank focused on retail and corporate banking in Sweden and the Baltic states (Estonia, Latvia, Lithuania).
Earns mostly from the margin on mortgages and other loans over deposit costs, with fees from cards, payments and fund sales. Sweden is the core, helped by a large base of household savers and an affiliated network of savings banks; the Baltics are a smaller second market. Savings-bank foundations are among its largest shareholders.
In one line: A Swedish regional bank with a Baltic-states franchise.
Moat: narrow (scale, distribution, brand). Leading retail bank position in the Baltic states plus a large Swedish savings-bank heritage network.
Headquarters: Stockholm, Sweden · Founded: 1820 · Employees: 18,638
Size Swedbank (SWED-A.ST) is a Sweden Financials company (Major Banks) with a market value of $46.0B, the 4th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 401.80 on 6 Nov 2026.
Performance Over six months the shares gained 24.9%, against +5.1% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 5.3% over the last twelve months (peer median +0.8%); the operating margin is 45.0% (peer median 38.3%).
Valuation It trades at 2.09× book value against a peer median of 1.48× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 13.2%; Swedbank delivers 14.3%, so the price asks less than the business earns today.
Credit Swedbank has 31 bonds outstanding ($24.0B), rated A by the agencies and trading like A at a weighted spread of 79 bp.
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 128B | SEK 127B | SEK 160B | SEK 143B | SEK 78.1B |
| Revenue growth | — | -20% | +12% | +83% | — |
| Net income | SEK 30.9B | SEK 32.8B | SEK 34.9B | SEK 34.1B | SEK 21.4B |
| Free cash flow | SEK 35.3B | -SEK 9.20B | SEK 57.2B | SEK 57.3B | SEK 95.9B |
| Capital expenditure | SEK 500M | SEK 490M | SEK 407M | SEK 852M | SEK 363M |
| Total debt | SEK 1.13T | SEK 969B | SEK 988B | SEK 946B | SEK 957B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Swedbank SWED-A.ST | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% |
| Skandinaviska Enskilda Banken SEB-A.ST | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% |
| Svenska Handelsbanken SHB-A.ST | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% |
| Danske Bank A/S DANSKE.CO | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% |
| Avanza Bank AZA.ST | $5.95B | +13% | +13% | 42% | 7.83× | 49.4% |
| Nordnet SAVE.ST | $8.70B | +13% | +11% | 45% | 10.65× | 38.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SWED-A.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | 0.0% | 7th highest of 21 |
| 6-month return | +24.9% | +5.1% | 2nd highest of 21 |
| Return on equity | 14.3% | 13.1% | 6th highest of 21 |
| Price / book | 2.09× | 1.48× | 4th most expensive of 21 |
| Trailing P/E | 14.7× | 12.0× | 3rd most expensive of 21 |
| ROE the price implies | 13.2% | 10.7% | 10th most demanding of 21 |
| ROE delivered | 14.3% | 13.7% | 6th highest of 19 |
| Bond spread | 79 bp | 81 bp | 5th tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| National Bank of Canada NA.TO | Canada | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% | 14.3% |
| Standard Chartered STAN.L | United Kingdom | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% | 12.8% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| Nordea Bank Abp NDA-FI.HE | Finland | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% | 14.9% |
| NatWest NWG.L | United Kingdom | $62.3B | +4% | +3% | 16% | 1.21× | 15.8% | 15.9% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| Boc Hong Kong 2388.HK | Hong Kong | $67.4B | +13% | -8% | 12% | 1.47× | 8.1% | 11.8% |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| China CITIC Bank 601998.SS | China | $71.5B | +9% | -6% | 9% | 0.67× | 2.5% | n/a |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| Lloyds Banking LLOY.L | United Kingdom | $73.7B | +2% | -2% | 14% | 1.37× | 17.2% | 14.3% |
Swedbank has 31 bonds outstanding with $24.0B face value. The agencies rate it A; its bonds trade like A. Weighted yield 4.09%, a spread of 79 bp over government bonds.