First it was the Netherlands, now Sweden. Like the Dutch, Swedish bankers have for years enjoyed a profitable and fairly oligopolistic banking sector, underpinned by high-margin and low-risk mortgages. But while challengers like Lansforsakringar and the Swedish arm of Danske Bank are gaining share, this year has also seen the entry of new online mortgage platforms using money sourced directly from local pension funds.
As the investors seem happy with initial results, the new entrants are preparing to scale up.
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