Götabanken

The Götabanken , also known internationally as Gotabanken , was a Swedish banking house . The financial institution has long been one of Sweden's five largest banks.

history

The bank was founded in 1848 under the name Götheborgs Privat-Bank , before it was renamed Göteborgs Enskilda Bank (this is the Swedish translation of Göteborgs Privatbank) ten years later . In 1903 the financial institution changed its legal form and became a stock corporation . This was accompanied by another renaming to Göteborgs Bank . In the following years, the bank grew through acquisitions and mergers, among other things, and was named Götabanken in 1937 .

In the 1980s, the bank was taken over by the Proventus mutual fund . In 1988 the dots on the “ö” were deleted and the bank traded internationally as Gotabanken . After a merger with Wermlandsbanken and Skaraborgsbanken in 1990, the institute was sold to Trygg-Hansa and the old name for the Swedish retail banking business was reintroduced.

In the Swedish banking crisis in the 1990s, Götabanken ran into problems when more than a third of its loan claims defaulted. As a result, the bank was nationalized in 1993 and merged with the semi-public Nordbanken .