AS Hansabanka, one of the leading commercial banks in Latvia, was established on 8 May 1992 under the name of German-Latvian Bank (Deutsche - Lettische Bank). In June 1996, the German -Latvian Bank became a part of the Swedbank Group and its name was changed to Swedbank-Latvia. The change of shareholders of the bank was the first step towards international banking.
In June 1999, the bank changed its name from Swedbank-Latvia to Swedbank. By means of its new identity and image the bank clearly showed its desire and dedication to be open to all residents of Latvia. In 1999, Swedbank was one of the most dynamically growing banks in Latvia, and the key achievement of the bank was the increase in the number of private customers and the rapid increase in volume of customer deposits, which testified on behalf of the customer loyalty to the bank.
In 2002, Swedbank consolidated its market leadership in Latvia and enjoyed a rapid increase in the business volumes, as well as ensured a top-notch customer service. This year was marked by several significant events: first of all, Swedbank took up the management of the 2nd pillar pensions by launching a new service - Hansa Pensions; secondly, Swedbank introduced a new corporate Internet bank -Telehansa.net; and thirdly, in December 2002 Swedbank issued the first international smart card in the Baltic States and Scandinavia. Successful operations of Swedbank were awarded with numerous awards, of which the key significance could be assigned to the prize awarded by the Latvian business newspaper Dienas Bizness, the readers-entrepreneurs of which recognized Swedbank to be the best bank in Latvia.
In 2004, Swedbank increasingly focused on SME segment, which was given a priority in the operations of the Corporate Banking Division of Swedbank. Nevertheless, the major corporate customers were still treated with the same attention, same pertaining to the customers involved in trade financing business. Swedbank proceeded with consolidating its leadership in retail banking and achieved the status of being the bank that ensures the best customer service in the Latvian commercial banking sector.
By understanding and reacting to their customers' needs, they can offer them the best financial solutions and thereby help them to improve their quality of life. In this way, they can continuously increase their company's value and serve as a positive force in society.
They want to be the leading financial institution in the markets where they are present. By leading they mean:
They believe that the group’s strong results and increasing international recognition are the result of a performance- oriented culture, clear and open communication, a willingness to change and their employees' strong commitment.
The group's values are: