Swedbank completes acquisition of Stabelo

03 Nov 2025 12:05 CET

Swedbank has today finalised the acquisition of the mortgage company Stabelo.

"I'm pleased that Swedbank has completed this transaction and that we can now
work together to strengthen our customer offering," says Tomas Hedberg, Deputy
CEO of Swedbank.

The acquisition is part of Swedbank's strategy and aims to develop the mortgage
business with a complementary brand, new technology, and new distribution
channels for mortgages.

With Swedbank as owner, Stabelo will be able to develop its offering. Stabelo
will continue to operate in the mortgage market under its own brand.

Financial Information

The purchase price at the time of completion is approximately SEK 350 million.
The final amount will depend on Stabelo's performance through to 2028.

Stabelo's financial results will be consolidated into Swedbank AB as of 3
November 2025.

In 2024, Stabelo had total operating income of SEK 19 million, primarily driven
by net interest income.

Operating expenses amounted to SEK 66 million, about half of which were staff
costs. Lending to the public totalled SEK 19 billion and credit losses were
negligible.

The acquisition is expected to negatively impact Swedbank Group's Common Equity
Tier 1 capital ratio by approximately 10 basis points.

About Stabelo

Stabelo was founded in 2016 and has created one of the market's most modern and
efficient platforms for mortgages.

They have a fully digital mortgage process and distribute mortgages both
independently and through partnerships.

Stabelo has around 30 employees and the company's CEO is Hampus Brodén.

Contact

Maria Caneman, Head of Investor Relations
Phone: +46 72 238 32 10
Email: maria.caneman@swedbank.se

Hannes Mård, Head of Press
Phone: +46 73 057 41 95
Email: hannes.mard@swedbank.se

Swedbank empowers the many people and businesses to create a better future. Our
vision is a financially sound and sustainable society. Swedbank Group is the
leading bank with over 7 million retail customers and 550 000 corporate
customers in our four home markets Sweden, Estonia, Latvia and Lithuania.
Swedbank Group is also present in other Nordic countries, the U.S. and China.
Together we make your financial life easier. Find out more: www.swedbank.com

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