Aktia, Swedbank enter into strategic partnership

Finnish bank Aktia and Stockholm-based Nordic-Baltic banking group Swedbank on Thursday entered a strategic partnership that establishes a long-term co-operation with the aim to better serve both banks' corporate customers, said Aktia in a press release.

Aktia and Swedbank signed a strategic partnership agreement to collaborate on the Finnish market.

The strategic partnership between the banks is the next step in a long-standing relationship and history of doing business together in Finland.

The collaboration will form a mutually beneficial basis for both parties to reach their long-term goals in the Finnish market with a clear intention to complement each other and serve our customers even better.

In connection with the partnership, Swedbank will wind down its cash management and payment services offering in Finland.

Swedbank's corporate customers in Finland will be given the opportunity to be served by Aktia. In addition, through the strategic partnership, Aktia will further utilise the investments that have been made in leasing and factoring platforms and will offer these services to Swedbank’s large corporate clients.

"The collaboration supports Aktia’s strategy and our goal to grow especially among SME customers in Finland", said Anssi Huhta, Executive Vice President, Banking Business and Deputy CEO of Aktia.

"We are now fulfilling our strategy of working with strong complementary partnerships in the Nordic region. It’s a strategy that enables us to grow in a sustainable and cost-efficient way. Today marks a starting point, and I’m looking forward to what we will achieve together with Aktia,” said Jens Henriksson, President and CEO of Swedbank.