Swedish savings banks are poised to benefit from a stronger economy in 2026, characterized by normalized inflation, stable interest rates, and improved GDP forecasts, according to a report published by Nordic Credit Rating (NCR) today. Despite ongoing geopolitical uncertainties, impact on local economies has been limited, although they may be contributing to continued subdued corporate loan growth. The mortgage market has not rebounded as expected, and housing price growth has been weak over the past twelve months.
"The easing of mortgage requirements coming into effect in April should provide a boost to housing prices," said NCR credit analyst Ylva Forsberg. "However, this impact will likely vary substantially between regions, depending on price levels and housing demand, and may not be material for all savings banks' markets."
The recent mergers in the sector may indicate the onset of a trend, driven by a range of factors, including improving competitive positions and funding access, as well as adapting to increased complexity. While further mergers are likely, the timing of announcements remains uncertain, as these processes can be lengthy, and it remains to be seen whether any occur in 2026.
Contacts:
Ylva Forsberg, analyst, +46768806742, ylva.forsberg@nordiccreditrating.com
Sean Cotten, chief rating officer, +46735600337, sean.cotten@nordiccreditrating.com