Swedbank receives SEK 837m VAT refund from Swedish tax agency

The Swedish Tax Agency has granted Swedbank a VAT refund totaling SEK 837 million for overpaid VAT during 2019, 2020, 2022, and 2023. This reimbursement will directly reduce Swedbank's costs by the same amount in the fourth quarter of 2025.

This decision follows the Swedish Tax Agency's approval of a new method for calculating deductible VAT. Earlier in 2025, Swedbank received similar VAT refunds for the 2016-2018 period. The bank has also applied for refunds for 2019-2023 and is currently awaiting a decision specifically for 2021.

The Swedbank Group, a leading bank in its home markets of Sweden, Estonia, Latvia, and Lithuania, serves over 7 million retail customers and 550,000 corporate clients. The bank is also present in other Nordic countries, the U.S., and China.