The ratings on FöreningsSparbanken AB (known internationally as Swedbank) reflect the bank's strong franchise in Sweden supported by a large customer base and a wide distribution network, its stable asset quality despite the economic downturn, and its satisfactory capitalization. Swedbank is the third-largest bank in Sweden and the fifth-largest banking group in the Nordic region, with consolidated total assets of Swedish krona (Skr) 959.6 billion ($91.7 billion, at Skr10.46 to $1) at Dec. 31, 2001. The group has the widest distribution network in Sweden, and enjoys a very strong domestic market share in retail financial services, particularly in mortgage finance, asset management, and household deposits. Its wholly owned subsidiary, Spintab AB (also known as Swedmortgage), is one of the leading
