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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • SWEDEN

    Inhabitants - 9,088,728 (July 2011)

    Language - Swedish (official), small Sami- and Finnish-speaking minorities

    Currency - Swedish krona (SEK), floating, exchange rate ~ 0.12 EUR

    Religion - Lutheran 87%, other (includes Roman Catholic, Orthodox, Baptist, Muslim, Jewish, and Buddhist) 13%

    Politics - Politics in Sweden takes place under the framework of a parliamentary, representative and democratic constitutional monarchy. Executive power is exercised by the government, led by the Prime Minister of Sweden. Legislative power is vested in both the government and parliament, elected within a multi-party system. The judiciary is independent, with judges appointed by the government and serving until retirement.

  • Major industries - iron and steel, precision equipment (bearings, radio and telephone parts, armaments), wood pulp and paper products, processed foods, motor vehicles

    Banks (2010) - 114 banks; 1,883 branches; 40,779 employees; assets – EUR 653.38 billion; loans – EUR 264.04 billion; deposits –EUR 233.31 billion 

    Banking regulations – The Swedish Financial Supervisory Authority, Finansinspektionen, is a public authority. The role of the FI is to promote stability and efficiency in the financial system, as well as to ensure effective consumer protection. The FI authorises, supervises and monitors all companies operating in Swedish financial markets. The Finansinspektionen is accountable to the Ministry of Finance. Companies offering financial services in Sweden require permits issued by the Finansinspektionen. This applies to banks and other credit institutions, insurance companies, securities and fund management companies, stock exchanges, authorised marketplaces and clearing houses, among others. Financial companies within the EU can have cross-border activities with other EU countries, but they must be reported and registered with the FI. The minimum capital requirement to set up a bank in Sweden is EUR 5 million.