Swedbank has entered a strategic partnership with Norway's savings bank, SpareBank 1 SR-Bank. The partnership is built on a shared commitment for sustainable growth to enable improved services for corporate clients in both Sweden and Norway. In connection with the partnership with SpareBank 1 SR-Bank, Swedbank will divest its High Yield and ECM operations in Norway to SpareBank 1 Markets, in which SpareBank 1 SR-Bank is a shareholder.

The strategic partnership with SpareBank 1 SR-Bank covers three areas: Improved services:SpareBank 1 SR-Bank will provide management of daily banking services for Swedbank's customers in Norway, while Swedbank will perform the corresponding services for SpareBank 1 SR-Bank's Norwegian customers in Sweden. Swedbank will also start offering trade finance services to SpareBank 1 SR-Bank's customers. A common client approach: Syndications will enable SpareBank 1 SR-Bank to acquire larger customers and will improve Swedbank's ability to grow in a profitable way.

A portfolio transfer: A portfolio of approximately NOK 5.6 billion will be transferred from Swedbank to SpareBank 1 SR-Bank. Swedbank's Norwegian branch will focus on growth in four core sectors: acquisition finance, real estate, sustainable ocean industries and renewable energy.