Swedbank has announced the acquisition of the mortgage credit institution Stabelo, as part of its strategy to further develop its mortgage business and expand its customer offering.

The bank said the move would provide access to a complementary brand, new technology, and additional mortgage distribution channels.

Stabelo is an established player in the Swedish mortgage market, offering fully digital mortgage processes and distributing loans through its own operations and partnerships.

According to Swedbank, the acquisition is expected to support its efforts in reaching customer segments with high potential, particularly younger and more digitally oriented groups.

“The acquisition of Stabelo gives us new opportunities to be able to meet more target groups of, among others, younger and more digital customers. At the same time, we can develop the company by putting Swedbank’s financial and knowledge resources behind an established brand,”

said Tomas Hedberg, Deputy CEO of Swedbank.

The initial purchase price is SEK 350 million.

The final amount will be contingent on Stabelo’s performance through to the end of 2028.

Stabelo, which currently employs around 30 people, will continue to operate independently under its own brand.

Founded in 2016, the company will remain under the leadership of CEO Hampus Brodén.

“It is an incredibly exciting day for Stabelo and all our employees. Having Swedbank as an owner will create opportunities for us to meet both new and existing customers with an even stronger offering,”

said Brodén.

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