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 Sweden's leading retail bank and third-largest bank in terms of assets, and is the fifth-largest banking group in the Nordic region, with consolidated total assets of Swedish krona (Skr) 987.1 billion ($96.3 billion at Skr 10.25 to $1) at March 31, 2002. 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 (--/--/A-1;
