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Swedbank completes acquisition of Stabelo

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

Hannes Mård, Head of Press

Phone: +46 73 057 41 95

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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