Retail Banking in Sweden: Coronavirus (COVID-19) Sector Impact

Retail Banking in Sweden – Coronavirus (COVID-19) Sector Impact


The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.

Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most of the countries across the world registering contractions in their economic growth for the year to date. Many economists and institutions have cut their forecasts, with many experts predicting the onset of long-term recessionary environments.

Sweden’s soft approach to lockdown and other government measures were able to reduce some of the worst effects of the pandemic, and a gradual recovery in the second half of 2020 is expected. Economic recovery is set to accelerate the turnaround of the banking industry.

This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry in Sweden. Based on our proprietary datasets, the snap shot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat Coronavirus.


– The Swedish government has announced various measures to counter the coronavirus outbreak. However, the uncertain economic outlook is weighing on near-term bank performance.

– And if the subsequent economic recovery is weak, it will likely be reflected in depressed profitability and weak asset quality, especially for those with weaker risk buffers heading into this crisis.

– That said, the relatively large fiscal packages offered by the Swedish government to mitigate the effects of coronavirus (amounting to up to 16.69% of 2019 GDP) – along with the lack of a lockdown – should ensure that the banking sector is relatively insulated from the type of damage being experienced in other countries.

Reasons to Buy

– Make strategic decisions using top-level revised forecast data on the Swedish retail lending and deposit industry.

– Understand the key market trends, challenges, and opportunities in the Swedish retail lending and deposit industry.

– Receive a comprehensive insight into the total consumer loans in Sweden, including mortgages, personal and credit card loans as well as retail deposits balances.

Ritesh Tiwari is the Founder of Research By Markets. He has more than 7 years experience in the Market Research industry and a total experience spanning 18+ years. His core experience is in Sales and International Recruitments. Ritesh is a big foodie and a huge football fan, supporting Manchester United (EPL) and FC Barcelona (La Liga). He hardly misses watching any matches when these teams are playing. Get in touch with Ritesh via: *Industry Press Release is a part of Research By Markets.