In the wake of COVID-19, many companies today are in a difficult financial situation. Therefore, Swedbank welcomes the government's introduction of a loan guarantee to help the banks to support companies that have been affected by the crisis. As of today, Swedbank offers the government guaranteed loans. Sweden needs functioning companies and many new jobs are created in small and medium-sized enterprises. The corona crisis also affects companies that are fundamentally sound - it is crucial that they receive support. - We see that we, together with other parties, have an important role in helping our customers with knowledge and financial support. We have been doing this for 200 years and we will continue to do so, says Mikael Björknert, Head of Swedish Banking, Swedbank. Companies can now apply for Swedbank's liquidity loanCorporate customers affected by the current crisis can apply from April 8 for liquidity loans covered by the state guarantee. The purpose of the loans is to help viable companies overcome the difficult situation they are in right now. The primary target group is small and medium-sized enterprises. The terms of Swedbank's loan are based on the criteria set by the Swedish National Debt Office. - Together with the amortisation eases we have already introduced, the hope is that the liquidity loan, and other government aid, will help many companies to keep their business going. We will support our customers in making wise and sustainable decisions for their companies, says Mikael Björknert. According to the Swedish National Debt Office, the government guaranteed loans are available until June 30, 2020, but the subscription period can be extended by the Swedish National Debt Office, as far as to September 30, 2020. Contact:Anette Ringius, Press Contact, Swedbank, tel + 46 70 529 24 76 Swedbank encourages a sound and sustainable financial situation for the many households and businesses. As a leading bank in our home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 168 branches in Sweden and 99 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 December, 2019 the group had operating profit of 24 420 SEKbn. Read more at www.swedbank.com https://news.cision.com/swedbank/r/swedbank-introduces-loans-with-a-state-guarantee,c3084156 https://mb.cision.com/Main/67/3084156/1226742.pdf (c) 2020 Cision. All rights reserved., source Press Releases - English
Swedbank has agreed to sell its personal customer business in Lithuania and Latvia to Danske Bank for an undisclosed sum; this is in line with Swedbank 's plan of strengthening its presence in the Baltics . Danke Bank says the sale will not have any material effect on its future earnings.