Swedbank acquires Stabelo for $36.8m to target digital, younger customers

From Yahoo Finance: 2025-07-02 09:59:00

Swedbank acquires mortgage credit institution Stabelo for Skr350m ($36.8m), with final price based on performance through 2028. Stabelo focuses on growing customer groups with digital processes and partnerships. Acquisition provides new technology and distribution channels for Swedbank to reach more customers.

Stabelo, founded in 2016, has around 30 employees and will operate under its own brand with CEO Hampus Brodén. Swedbank aims to target younger, digital customers with the acquisition. Deal must be approved by authorities before finalized.

In addition to the Stabelo acquisition, Swedbank recently reached an agreement to sell ATM assets in the Baltic markets to Euronet. The deal includes 1,141 in-branch and off-branch ATMs in Lithuania, Estonia, and Latvia. Euronet will also provide ATM outsourcing services to Swedbank in these regions.

Read more: Swedbank acquires Stabelo to expand mortgage operations