Best bank: Swedbank
Despite the Estonian economy experiencing a severe recession last year, the country’s banking sector remained robust and continued to generate stellar growth, supported by the resilience of companies and households facing higher interest rates.
The bank that navigated the economic conditions the best, delivering outsized profit and income growth while launching a range of new services and solutions, is Swedbank – Estonia’s best bank this year.
In the year to the end of December 2023, Swedbank generated a net profit of €480 million, up 211% year on year, with total income rising 106% to €747 million.
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