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Termination of the Activities of the Swedish Branch of Bigbank AS
Globenewswire· 2026-03-27 06:00
Core Viewpoint - Bigbank AS is closing its Swedish branch, ceasing operations and selling its loan portfolio, with the closure process starting on 31 May 2026 [1] Group 1: Company Overview - Bigbank AS is a commercial bank with over 30 years of operating history, owned by Estonian capital [2] - As of 28 February 2026, the bank's total assets are 3.5 billion euros, with equity of 298 million euros [2] - The bank operates in nine countries, serving over 193,000 active customers and employing more than 650 people [2] - Moody's has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2 [2] Group 2: Branch Closure Details - The Supervisory Board decided on 26 March 2026 to terminate the activities of the Swedish branch [1] - The bank will stop accepting deposits at the Swedish branch starting 27 March 2026, continuing to service only the existing deposit portfolio [1]