Swedbank and the savings bank idea celebrate 200 years in 2020. We at the Centre for Business History have, together with Swedbank, created a commemorative magazine that tells the two-century-long story of how the savings banks and the country developed.

In 1820, Göteborgs Sparbank, the first savings bank in Sweden, opened. Today’s Swedbank has its origins in this first savings bank – thus celebrating 200 years. Few Swedish companies can show such a long history of operation, a business that is also closely linked with the development of the entire country. 

This history, all the way from the start in 1820 when Sweden was a poor farming society on the outskirts of Europe, to today’s banking giant in one of the world’s most modern countries, is told in the 72-page magazine "TWO HUNDRED – Money and Life Since 1820". We produced the magazine together with Swedbank based on research in Swedbank's archives which we manage for the bank. 

The magazine has recently been distributed to over 7,000 Swedbank employees in Sweden and will also be available at the bank's branches across the country. An English version of the magazine will also soon be available. 

From 1820 to Today

The savings bank idea in 1820 was based on giving ordinary people a chance to build their own financial wealth. It was about offering banking services that we take for granted today but were revolutionary back then. Over 200 years, new services have been added as society has evolved – but always with savings in focus. At its peak, Sweden had 498 savings banks in 1926. After mergers, Sparbanks Sweden today consists of Swedbank and just under 60 savings banks.

The magazine tells this history, all the way up to today’s media-covered situation – but places even greater emphasis on how society has developed during 200 years and the economic needs individuals and businesses have had to build a sound and sustainable economy in each era. 

As Göran Persson, Swedbank’s chairman of the board, says in an interview in the magazine: "The savings bank idea is as relevant now as it was 200 years ago. An idea is built on values and values are timeless. But how it is applied must reflect its time. The idea must always be made relevant, otherwise it will quickly be phased out."

Podcasts and Short Films Coming Soon...

The magazine’s content has also been used by Swedbank for its updated history site, swedbank.se/historia; for its campaign site swedbank.se/200; and it is a related production to the anniversary campaign "Forward then. Forward now." which Swedbank launched recently.

The year-long research behind the magazine continues to be built upon: next we will produce a podcast series and short films about the history of Swedbank and the savings bank idea.