List Of Investment Banks In Sweden
Ålandsbanken
Avanza Bank
BGL BNP Paribas SA
Carnegie Investment Bank
Crédit Agricole Corporate & Investment Bank
EFG Investment Bank
Färs & Frosta Sparbank
GE Money Bank
ICA Banken
Ikanobanken
Länsförsäkringar Bank
MedMera Bank
Nordea
Ölands Bank
Resurs Bank
Skandiabanken
Skandinaviska Enskilda Banken
Svenska Handelsbanken
Swedbank
Volvofinans Konto Bank
Swedish banking rescue
During 1991 and 1992, a housing bubble in Sweden deflated, resulting in a severe credit crunch and widespread bank insolvency. The causes were similar to those of the subprime mortgage crisis of 2007–2008. In response, the government took the following actions
Sign calling for the "Swedish Solution", Occupy Oakland, 2011 The government announced the state would guarantee all bank deposits and creditors of the nation’s 114 banks.
Sweden's government assumed bad bank debts, but banks had to write down losses and issue an ownership interest (common stock) to the government. Shareholders at the remaining large banks were diluted by private recapitalizations (meaning that they sold equity to new investors). Bondholders at all banks were protected.
Nordbanken and Götabanken were granted financial support and nationalized at a cost of 64 billion kronor. The firms' bad debts were transferred to the asset-management companies Securum and Retriva which sold off the assets, mainly real estate, that the banks held as collateral for these debts.
When distressed assets were later sold, the proceeds flowed to the state, and the government was able to recoup more money later by selling its shares in the nationalized banks in public offerings.
Sweden formed the Bank Support Authority to supervise institutions that needed recapitalization.
This bailout initially cost about 4% of Sweden's GDP, later lowered to between 0-2% of GDP depending on various assumptions due to the value of stock later sold when the nationalized banks were privatized.
The economists Brad DeLong and Paul Krugman have proposed the Swedish experiment as a model for what should be done to solve the economic crisis currently affecting the United States. Swedish leaders who played a role in devising the Swedish solution and have spoken about the implications for other countries include Urban Bäckström and Bo Lundgren.
Svenska Handelsbanken AB is a Swedish bank covering the entire banking area: traditional corporate transactions, investment banking and trading as well as consumer banking including life insurance. Handelsbanken is strong in the Swedish market with more than 460 branches. During the last 15 years, Handelsbanken has been expanding its universal banking operations into the other Nordic countries, and in recent years also in Great Britain, the Netherlands, Latvia, Estonia and Lithuania.
The bank has around 11,000 employees.
Handelsbanken today
Handelsbanken holds a strong position on the Nordic bank market with a nationwide branch office network in Sweden and nearly nationwide networks in the other Nordic countries. Since 2000 Handelsbanken has conducted universal banking operations in Great Britain opening its 100th branch in Ilkley in June 2011. A further 18 branches have been announced since.
Subsidiaries and branches
Sweden (461 branches)
United Kingdom (118 branches)
Denmark (54 branches)
Finland (44 branches)
Norway (34 branches)
Netherlands (15 branches)
Germany (7 branches)
Spain (2 branches)
Estonia (1 branch)
Latvia (1 branch)
Lithuania (1 branch)
Austria
Brazil
China, People's Republic of
China, Republic of (Taiwan)
France
Hong Kong
India
Luxembourg
Malaysia
Poland
Russia
Singapore (1 branch)
Switzerland
USA (1 branch)
Ålandsbanken
Avanza Bank
BGL BNP Paribas SA
Carnegie Investment Bank
Crédit Agricole Corporate & Investment Bank
EFG Investment Bank
Färs & Frosta Sparbank
GE Money Bank
ICA Banken
Ikanobanken
Länsförsäkringar Bank
MedMera Bank
Nordea
Ölands Bank
Resurs Bank
Skandiabanken
Skandinaviska Enskilda Banken
Svenska Handelsbanken
Swedbank
Volvofinans Konto Bank
Swedish banking rescue
During 1991 and 1992, a housing bubble in Sweden deflated, resulting in a severe credit crunch and widespread bank insolvency. The causes were similar to those of the subprime mortgage crisis of 2007–2008. In response, the government took the following actions
Sign calling for the "Swedish Solution", Occupy Oakland, 2011 The government announced the state would guarantee all bank deposits and creditors of the nation’s 114 banks.
Sweden's government assumed bad bank debts, but banks had to write down losses and issue an ownership interest (common stock) to the government. Shareholders at the remaining large banks were diluted by private recapitalizations (meaning that they sold equity to new investors). Bondholders at all banks were protected.
Nordbanken and Götabanken were granted financial support and nationalized at a cost of 64 billion kronor. The firms' bad debts were transferred to the asset-management companies Securum and Retriva which sold off the assets, mainly real estate, that the banks held as collateral for these debts.
When distressed assets were later sold, the proceeds flowed to the state, and the government was able to recoup more money later by selling its shares in the nationalized banks in public offerings.
Sweden formed the Bank Support Authority to supervise institutions that needed recapitalization.
This bailout initially cost about 4% of Sweden's GDP, later lowered to between 0-2% of GDP depending on various assumptions due to the value of stock later sold when the nationalized banks were privatized.
The economists Brad DeLong and Paul Krugman have proposed the Swedish experiment as a model for what should be done to solve the economic crisis currently affecting the United States. Swedish leaders who played a role in devising the Swedish solution and have spoken about the implications for other countries include Urban Bäckström and Bo Lundgren.
Svenska Handelsbanken AB is a Swedish bank covering the entire banking area: traditional corporate transactions, investment banking and trading as well as consumer banking including life insurance. Handelsbanken is strong in the Swedish market with more than 460 branches. During the last 15 years, Handelsbanken has been expanding its universal banking operations into the other Nordic countries, and in recent years also in Great Britain, the Netherlands, Latvia, Estonia and Lithuania.
The bank has around 11,000 employees.
Handelsbanken today
Handelsbanken holds a strong position on the Nordic bank market with a nationwide branch office network in Sweden and nearly nationwide networks in the other Nordic countries. Since 2000 Handelsbanken has conducted universal banking operations in Great Britain opening its 100th branch in Ilkley in June 2011. A further 18 branches have been announced since.
Subsidiaries and branches
Sweden (461 branches)
United Kingdom (118 branches)
Denmark (54 branches)
Finland (44 branches)
Norway (34 branches)
Netherlands (15 branches)
Germany (7 branches)
Spain (2 branches)
Estonia (1 branch)
Latvia (1 branch)
Lithuania (1 branch)
Austria
Brazil
China, People's Republic of
China, Republic of (Taiwan)
France
Hong Kong
India
Luxembourg
Malaysia
Poland
Russia
Singapore (1 branch)
Switzerland
USA (1 branch)
