Swedbank
Swedbank AS is the Latvian subsidiary of the Swedbank Group (Nasdaq Stockholm: SWED A), operating as a licensed universal bank providing retail, SME, and private banking — including deposits, lending, 3rd pillar pensions with a 25.5% tax refund, motor and life insurance, leasing, and investment management — to Latvian consumers and businesses via Internet Bank, branches, and customer service centers.
- Company typePublic
- Founded2005
- HeadquartersRīga, Latvia
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What Swedbank does
Swedbank AS is the Latvian operating entity of the Swedbank Group, a major Scandinavian banking institution listed on Nasdaq Stockholm (ticker: SWED A). It is a licensed universal bank headquartered at Balasta dambis 15, Rīga (LV-1048), providing retail, SME, and private banking services within the Latvian market. The bank operates under the conventional holding structure with wholly-owned subsidiaries covering adjacent financial product lines: Swedbank Līzings SIA (leasing), Swedbank Atklātais Pensiju Fonds AS (pension fund management), Swedbank Ieguldījumu Pārvaldes Sabiedrība AS (investment management), Swedbank P&C Insurance AS Latvijas filiāle (non-life insurance), and Swedbank Life Insurance SE Latvijas filiāle (life insurance).
The core technology platform is the Internetbanka (Internet Bank) — a self-serve web-based banking system supporting account management, payments, transfers, and access to the wider product catalogue. Built around this platform, Swedbank offers a unified retail product set including current and savings accounts (with the Krājrīka savings product), the 3rd pillar pension plan with a 25.5% annual personal income tax refund on contributions, KASKO and OCTA motor insurance (with automatic policy renewal and 0 EUR excess for windshield and animal-collision damage on KASKO), life insurance, and a Mikroieguldījums micro-investment feature that rounds up card payments into automated investments. A Financial Health Test (Finanšu veselības tests) is offered as an interactive financial-wellness assessment, alongside segment-specific experiences for Youth, Parents, Seniors, Gold Service, and Private Banking.
The business model is that of a full-service universal bank monetizing through net interest income on deposits and lending, fees on insurance and pension products, leasing margin, and asset management fees on pension/investment portfolios. Distribution is multi-channel: a physical branch and ATM network for in-person servicing, the self-serve Internet Bank for digital banking, a customer service center at +371 67 444 444, and digital marketing through the swedbank.lv website, blog, and product pages. GTM segmentation is horizontal across life-stage customer cohorts plus a dedicated Business Clients segment. In 2025, Swedbank was ranked runner-up best employer in Latvia's banking and finance sector in the CVMarket.lv (Virši) best employer survey.
Swedbank firmographics
Firmographics- Name
- Swedbank
- Legal name
- Swedbank AS
- Website
- https://swedbank.lv
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Short description
- Swedbank AS is the Latvian subsidiary of the Swedbank Group (Nasdaq Stockholm: SWED A), operating as a licensed universal bank providing retail, SME, and private banking — including deposits, lending, 3rd pillar pensions with a 25.5% tax refund, motor and life insurance, leasing, and investment management — to Latvian consumers and businesses via Internet Bank, branches, and customer service centers.
- Ownership category
- akta.pro rank
Swedbank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (522110), Finance and Insurance (52)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022)
- akta.pro primary industry
- SME/Business Neobanks (FSABAFAB)
- akta.pro secondary industry
- Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL)
Keywords
Where Swedbank is headquartered
LocationHeadquarters
- HQ city
- Rīga
- HQ country
- Latvia
- HQ region
- Europe
Offices1 record
Markets served
Swedbank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Banking and Financial Services: Core banking services including account management, lending, deposits, and financial advisory for retail and business customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Savings account with interest rate adjustment |
Distribution channels3 records
Marketing channels2 records
Swedbank product offering
Product offeringCore offering
Swedbank AS is a universal bank providing retail and business banking services in Latvia, including deposit accounts, lending, payments, and wealth advisory delivered through its Internetbanka digital platform and physical branch network. The offering is extended through wholly-owned subsidiaries into third-pillar pension savings, motor and life insurance (KASKO, OCTA, life cover), leasing, and investment management, including an automated micro-investment rounding feature tied to card payments.
Product overview
Swedbank is a banking and financial services provider offering a unified platform of retail and corporate banking products. The core Internet Bank platform serves as the primary digital channel for account management, payments, and financial services. The product portfolio includes pension savings products (3rd pillar with tax benefits), insurance products (KASKO motor insurance, OCTA, life insurance), and investment services. The bank provides segmented client programs including Youth, Gold Service, Private Banking, Parents, and Seniors, along with dedicated business client services. Related group entities include Swedbank Līzings (leasing), Swedbank Atklātais Pensiju Fonds (pension fund), Swedbank Ieguldījumu Pārvaldes Sabiedrība (investment management), and insurance subsidiaries.
Differentiator
Problem solved
Functional benefit
Products and services
- Internetbanka (Internet Bank)
Quantifiable outcome
- 25.5% annual tax refund on pension 3rd level contributions
Companies that use Swedbank
Customer profileSegments5 records
Ideal customer profiles3 records
Swedbank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Swedbank partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights5 records
Swedbank competitors and assessment
Company assessmentRegional players
- Bigbank AS: Estonia-headquartered bank specializing in consumer loans, term deposits, and SME lending with Baltic operations. Comparable deposit-gathering and lending activities aimed at Latvian retail and SME customers.
- Coop Pank AS: Estonian retail and SME bank with a growing Baltic footprint. Comparable in operating model targeting everyday banking, deposits, and SME lending across the Baltic markets neighboring Latvia.
Direct peers
- Luminor Bank AS: Baltic-focused universal bank serving retail, business, and corporate clients across Latvia, Lithuania, and Estonia. Comparable product mix in deposits, lending, and digital banking with a parallel regional banking model.
- Citadele banka: One of Latvia's largest domestic banks, providing retail and SME banking, lending, and digital services. Comparable full-service banking offering competing directly for the same customer segments as Swedbank Latvia.
- SEB Banka Latvia: Latvian subsidiary of Swedish banking group SEB, offering retail, business, and wealth management services with similar digital and branch channels. Direct head-to-head competitor to Swedbank AS in the Latvian market.
Emerging players
- N26 GmbH: European mobile-first neobank offering current accounts, payments, and savings products. Comparable in targeting digitally-native retail customers in the EU, including the Baltic market, with a low-fee, app-led proposition.
- Wise plc: Cross-border payments and multi-currency account fintech with strong Baltic user base. Comparable in capturing transactional and FX revenue that would otherwise accrue to traditional banks like Swedbank Latvia.
- Revolut Bank UAB: Digital challenger bank with a licensed EU banking entity and strong customer adoption across the Baltic states, competing for deposits, payments, and FX from Swedbank's retail base, particularly younger customers.
Broad incumbents
- Swedbank Group (Parent): Swedish parent banking group (Nasdaq Stockholm: SWED A) operating full-service banking across the Nordics and Baltics. Provides the strategic context and group benchmarking for evaluating Swedbank AS Latvia's positioning and product portfolio.
- Nordea Bank Abp: Major Nordic universal bank with significant Baltic presence, offering retail, corporate, and investment banking comparable in scale and product breadth to the Swedbank Group parent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights6 records
Customer concentration
Swedbank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Swedbank leadership team
Management profileNumber of profiles
Swedbank subsidiaries and ownership
Company hierarchySubsidiaries5 records
Swedbank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Swedbank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Swedbank
What does Swedbank do?
Swedbank AS is a universal bank providing retail and business banking services in Latvia, including deposit accounts, lending, payments, and wealth advisory delivered through its Internetbanka digital platform and physical branch network. The offering is extended through wholly-owned subsidiaries into third-pillar pension savings, motor and life insurance (KASKO, OCTA, life cover), leasing, and investment management, including an automated micro-investment rounding feature tied to card payments.
Is Swedbank a public or private company?
Swedbank is a public company. It is classified as public and is currently operating.
When was Swedbank founded?
Swedbank was founded in 2005.
Where is Swedbank based?
Swedbank is headquartered in Rīga, Latvia, in the Europe region.
How does Swedbank make money?
One revenue line is on record: banking and Financial Services.
Who are Swedbank's main competitors?
Regional players on record are Bigbank AS and Coop Pank AS. Direct peers are Luminor Bank AS, Citadele banka and SEB Banka Latvia. Emerging players are N26 GmbH, Wise plc and Revolut Bank UAB. Broad incumbents are Swedbank Group (Parent) and Nordea Bank Abp.
Does Swedbank have an API?
No public API is recorded for Swedbank.
What industry is Swedbank in?
Swedbank's product category is Retail Banking. Its primary akta.pro industry code is FSABAFAB, SME/Business Neobanks, with a secondary code of FSAGALAL, Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting). Its NAICS code is 5221 and its SIC code is 6021.