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[ Grand Architectural Pleasure : Follow the Lines and be inspired ] @ The Swedbank Central Office Tower, Vilnius, Lithuania | by || UggBoy♥UggGirl || PHOTO || WORLD || TRAVEL ||
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[ Grand Architectural Pleasure : Follow the Lines and be inspired ] @ The Swedbank Central Office Tower, Vilnius, Lithuania

Swedbank AB (formerly called FöreningsSparbanken) is a leading Nordic-Baltic banking group with 9.5 million retail customers and 534,000 corporate customers in Sweden, Estonia, Latvia, and Lithuania. In Sweden, the group has 377 branches. In the Baltic countries, it has another 224 branches. Elsewhere, the group is present in Copenhagen, Helsinki, Kaliningrad, Kiev, Luxembourg, Moscow, Marbella, New York, Oslo, Shanghai, Saint Petersburg, and Tokyo.

 

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On 8 September 2006, FöreningsSparbanken AB changed its name to Swedbank AB. The name change took place in the afternoon local time, after the Swedish Companies Registration Office registers the changes in the company’s articles of association. On the same date the subsidiary AB Spintab changed its name to Swedbank Hypotek AB (Swedbank Mortgage AB in English). At the same time, FöreningsSparbanken Jordbrukskredit AB changed its name to Swedbank Jordbrukskredit AB. Other subsidiaries will change their names at later dates.

 

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The first Swedish saving bank was founded in Gothenburg in 1820. In 1992 a number of local savings banks merged to create Sparbanken Sverige ("Savings Bank Sweden"), which was known simply as Sparbanken ("The Savings Bank"). In 1995 this bank was listed on the stock exchange. In 1997 the bank merged with Föreningsbanken and the names were combined to create FöreningsSparbanken. During the late 2000s global financial crisis, Swedbank accepted government assistance due to its losses from loans made to neighboring Baltic economies.

 

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Swedbank is listed on the Stockholm Stock Exchange. The bank has no clear majority owner, but is mainly owned (7.8%) by Folksam. The second largest owner is a number of local savings banks, controlling 7.6% of the stocks. Also, a number of large financial institutions control small blocks of shares in the bank but none of these exceed 5%. 24% of the shares are owned by foreign individuals and companies.

 

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For more information and insights into this banking conglomerate please follow the link and save some time for reading this article:

 

WIKIPEDIA = Swedbank = One Step around the WORLD at A TIME

 

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A bank is a place that will lend you money if you can prove that you don't need it.

 

--- Bob Hope

 

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Taken on March 5, 2011