Taking responsibility is in our genes
Swedbank has a long tradition as a positive, responsible force in society. Our heritage from Sweden’s original savings banks and agricultural credit societies has given us a strong feel for the local community. We believe in the importance of being close to customers that only a local branch can provide, even if it happens to be in a bustling city.
Responsibility is in our genes. We also assume responsibility for our products and services and the relationships we build. Long-standing relationships require commitment and responsibility through thick and thin.
Naturally, a key element is responsible lending. We owe this responsibility to both our customers and shareholders. We maintain a conservative position with regard to risk. Although country risks have increased in Estonia, Latvia and Lithuania, our customer credit assessment has been just as prudent as in Sweden. Swedbank has invested over the years in building a highly qualified risk management function and thorough loan evaluation processes.
Taking responsibility for the environment and the local community while maintaining professional ethics is also a way to reduce risk exposure. Ethical dilemmas can be especially damaging to a bank. Swedbank naturally follows the laws and regulations in every country where it operates and has established internal policies and rules that are designed to instil confidence in the bank as a responsible player in the market and society.
Our view of sustainable development is based on taking responsibility – for our customers, shareholders, employees and the communities we work in. Only those who take responsibility build confidence.
We are strongly committed to our communities and sustainable development. You can read more about some of these projects on page 27. Our Swedish operations are environmentally certified according to ISO 14001, and environmental work is integrated into day-to-day operations.
Employees are of critical importance to every company, especially service companies, none more so than Swedbank, which has built its success through service leadership, particularly in personal interaction with customers. To remain successful, the bank must take responsibility for ensuring that employees thrive in their work and are offered opportunities for personal development.
A company that attracts talent
In the 2008 Corporate Barometer, a survey conducted by Universum Communications, Swedbank was rated the most popular financial company to work for by business students for the second consecutive year. In a reputational barometer conducted by Nordic Brand Academy, the bank was the best company in banking and finance. In its annual survey of major Swedish corporations, the insurance company Folksam ranked Swedbank as the most gender-equal.
