Swedbank named Business Bank of the Year

by Richard Kilner

Story link: Swedbank named Business Bank of the Year

In the business magazine Affärsvärldens’s Financial Barometer survey Swedbank has been named as the Business Bank of the Year 2009.

The success follows on from three consecutive years of being considered the Business Bank of the Year, in 2003-2005.

The head of Swedish Banking, Kjell Hedman, has expressed the firm’s pleasure at the high regard its customers hold it in, and stated its pride in its success.

Hedman went on to say that the firm believed strong, longterm customer relations is a major factor in turning in good results.

Michael Wolf, president and CEO, explained that the firm’s aim was to deliver the best price for the widest range of products and that it was particularly gratifying to be highly rated by its customers in these areas.

However, this week has not been entirely good for Swedbank, with credit ratings agency Moody’s downgrading Swedbank AB, Swedbank Mortgage and Swedbank AS (Estonia).