Kommuninvest and Swedbank collaborate on municipal loans

Press Release November 11, 2008

Kommuninvest and Swedbank collaborate on municipal loans

The financial crisis leaves a trail of higher prices on the credit market in its
wake. Swedbank and Kommuninvest are therefore initiating collaboration in order
to offer municipalities and county councils the best possible borrowing
conditions for credit with short-term fixed interest rates.


The collaboration between Kommuninvest and Swedbank arises from the insight that
we complement rather than compete with each other when it comes to financial
services for municipalities and county councils.

The co-operation encompasses some SEK 33 billion and affects municipalities that
are customers of Swedbank and the network of co-operating Sparbankerna savings
banks. Municipalities and county councils that are not members of Kommuninvest,
and therefore unable to borrow from the organisation, can apply for membership.

“The co-operation with Kommuninvest is a fine example of Swedbank's commitment
to ensuring that Sweden's municipalities and county councils have the best
possible financial offering available to them in any situation. As the main bank
for the majority of Sweden's municipal enterprises and county councils, we have
high demands on being able to offer competitive solutions for capital
investment, public funding and systems for paying salaries and other
transactions,” says Jan Lidén, CEO of Swedbank. 

The recent turbulence on the global financial market has raised the price of
liquidity. Kommuninvest's role as a local debt office is important on a market
in turmoil. With the highest possible credit rating - on a par with the Kingdom
of Sweden - it can offer cost-effective financing opportunities. This enables
Kommuninvest to offer attractive credit with short fixed interest periods. 

“By working alongside Swedbank we are making it easier for our members to access
the best possible credit terms in the long run. We have entered into this
co-operation based on our remit as a local debt office, i.e. to create
favourable solutions for our members' financial operations without a vested
interest in profit-making, based on a municipal value foundation. Membership of
Kommuninvest is voluntary and open to all municipalities and county councils in
Sweden, so this offer is directed at all municipalities, county councils and
their majority-owned companies,” says Tomas Werngren, CEO of Kommuninvest. 


For further information, please contact: 
Kjell Hedman, Executive Deputy President and Head of Swedish Banking, Swedbank,
phone +46 (0)8-585 912 21
Tommy Lundgren, Head of Public Sector, Swedbank, mobile +46 (0)70-326 13 60
Anna Sundblad, Press Officer, Swedbank, mobile +46 (0)70-321 39 95

Tomas Werngren, CEO, Kommuninvest, phone +46 (0)19-16 78 10, mobile +
46(0)70-645 06 69
Maria Viimne, Deputy CEO, Kommuninvest, phone +46 (0)19-16 78 42, mobile +46
(0)70-333 69 02
Anitha Holmberg, Head of Corporate Communications, Kommuninvest, phone +46
(0)19-16 78 06, mobile +46 (0)70-638 66 63





Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9 million retail customers and 600,000
corporate customers with more than 459 branches in Sweden, 300 branches in the
Baltic countries and another 190 branches in Ukraine. The group is also present
in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York,
Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2007 the group had
total assets of SEK 1,600 billion and approximately 22,000 employees. For more
information about Swedbank, please visit www.swedbank.com.