SBAB creates strong unit for financing of multi-family dwellings
SBAB is retaining its lending operations to property companies and is merging its business areas for corporate clients and tenant-owner associations.
SBAB has a long history of financing multi-family dwellings, with a leading position in both the corporate and tenant-owner association markets. With the purpose of building a strong and efficient unit for the financing of multi-family dwellings, SBAB has therefore decided to merge the two business areas. In connection with this, SBAB has also decided to discontinue the on-going process to sell its corporate portfolio and to retain its lending operations to property companies as part of SBAB's housing financing offer.
− SBAB is a leading player in the market for multi-family dwellings, and by now merging our business areas for property companies and tenant-owner associations, we are further strengthening that position. There are considerable similarities between the business models of the operations, enabling both internal and external synergies. In the tenant-owner association market, we have had Sweden's most satisfied customers for nine consecutive years, and we will continue to work on customer experience and relationship building, says Carl-Viggo Östlund, CEO of SBAB.
At the end of the first quarter of 2013, the new unit had a total lending volume of slightly more than SEK 92 billion, primarily to customers in the Stockholm, Gothenburg and Öresund regions. Per O. Dahlstedt, former head of the corporate client business area has been appointed head of the new unit and will become a member of SBAB's Executive Management.
For further information, please contact:
Carl-Viggo Östlund, CEO, SBAB
Mobile: +46 727 17 43 01, carl-viggo.ostlund@sbab.se
Per O. Dahlstedt, Head of Corporate Clients and Tenant-owner Associations, SBAB
Mobile: +46 (0)703-55 52 47, per.dahlstedt@sbab.se
SBAB offers residential mortgages and saving products through the Internet and telephone, and also grants loans to the corporate sector and housing associations. By offering products and services that challenge and simplify, SBAB contributes to increased competition in the Swedish market. The company was founded in 1985 and is wholly owned by the Swedish Government. In 2012, the company’s lending volume amounted to SEK 255.9 billion and the deposit volume to SEK 27.7 billion. SBAB Bank has about 410 employees, of whom approximately 120 work at the headquarters in Stockholm. Learn more at www.sbab.se/english
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