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Swedbank Relocates to New Head Quarters in Sundbyberg

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  Published in Business and Finance on Tuesday, February 15th 2011 at 23:40 GMT by Market Wire
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STOCKHOLM--([ BUSINESS WIRE ])--Regulatory News:

"I am glad that we have found such a good solution for our new head quarters, where all our operations can develop in the same building. Moreover, the new office space implies a significant cost reduction compared to the current solution in the city centre"

Swedbank (STO:SWEDA) (LSE:SWK) (OSE:SWED) (Pink Sheets:SWDBF):

Swedbanka™s managment has decided to relocate all the banka™s operations at Swedbanka™s head quarters, presently located in Gallerian in Stockholm city, to new premises in Sundbyberg, just outside of Stockholm city. The relocation will take place at year-end 2013-2014, but the planning process to establish the office building and the premises starts immediately.

Efforts to find new office space for Swedbanka™s head quarters were initiated already during spring 2009, when Swedbanka™s management decided to investigate the possibilities for a new head quarters. After a thorough analysis and assessment of several projects, both in the city centre of Stockholm and outside, the choice fell upon Sundbyberg.

aIt is important for us at Swedbank to go our own way. We lead the way for new development rather than follow it. With a modern head quarters a" established and tailored after our values aopen, simple and caringa a" both our co-workers and our operations will grow and develop positively. We want to create one of Swedena™s best work places, which naturally will benefit our customers as well, commented Swedbanka™s CEO Michael Wolf.

Michael Wolf continued:

aA head quarters is not just a work place, but also a symbol for the company and what it stands for. We want to show our customers in a clear way that we are a modern bank, characterized by courage, innovation and cost-awareness."

The new head quarters will be one of Swedena™s most modern work places. The building that is crafted with the latest technology in terms of environmental impact will be environmentally certified and completely tailored after the banka™s needs.

aI am glad that we have found such a good solution for our new head quarters, where all our operations can develop in the same building. Moreover, the new office space implies a significant cost reduction compared to the current solution in the city centre,a said Michael Wolf.

Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to a development aBeyond Financial Growtha. As a leading bank in the home markets Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has 9.5 million retail customers and around 680,000 corporate customers with 340 branches in Sweden and over 200 branches in the Baltic countries. The group is also present in other Nordic countries, the U.S., China, Russia and Ukraine. As of December 31 2010 the group had total assets of SEK 1,716 billion. Read more at [ www.swedbank.com ]

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