Swedbank completes Stabelo acquisition, boosts mortgage offerings

Swedbank has completed its acquisition of mortgage company Stabelo, aiming to strengthen its mortgage business. The purchase price at completion is approximately SEK 350 million, with the final amount contingent on Stabelo's performance until 2028. Stabelo's financial results will be consolidated into Swedbank AB starting November 3, 2025.

In 2024, Stabelo reported total operating income of SEK 19 million, primarily from net interest income, against operating expenses of SEK 66 million. The company, founded in 2016, possesses a fully digital mortgage process and had SEK 19 billion in lending to the public with negligible credit losses.

The acquisition is projected to negatively impact Swedbank Group's Common Equity Tier 1 capital ratio by approximately 10 basis points. Stabelo will continue to operate under its own brand within the mortgage market.