Swedbank is lagging behind in lowering the interest rate – however, the increase was quick

Published 24 August 2024 at 12.49

Economy. Swedbank has still not had time to introduce the Riksbank's interest rate cuts from last spring. But when the interest rate started to rise, the big bank was lightning quick to let the increases take effect, reports Dagens Industri.

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A review of the banks' total reductions during the year as DI have done shows that both Swedbank and Handelsbanken have not yet lowered rates to the same extent as the Riksbank.

When interest rates started to rise two years ago, however, the two banks were faster in raising them – by then all the major banks had raised between five and ten points more than the Riksbank, according to DI.

Christina Sahlberg on the comparison site Compricer tells DI that the banks' effort to increase the margin, regardless of whether the interest rate goes up or down, has been successful.

– The big banks do very well in interest rate rises, but they also do very well in declines, says Christina Sahlberg to DI.