Societal benefits of banks’ activities

In addition to creating value for the customers who use our services, the activities of a bank also create value for the economy and for society at large

The financial services that a bank provides – turning savings into investments, managing payments and payment infrastructure, and assessing risks and providing financial advice – are the core of a bank’s operations.

In addition to creating value for the customers who demand and use those services, they also create value for the economy and society at large.

For entrepreneurship, innovation and development

Ever since 1856, SEB has helped pave the way for the major shifts in society and supported entrepreneurs and innovations that have had a major impact on our societies – from the electrification and industrialisation to the automation and digitalisation. Today, we help pave the way for the big shift of our time – the sustainability transition, where we support our customers to transition to a sustainable future and invest in ideas and innovations that can accelerate that shift.

For financial stability

A well-functioning banking system is fundamental for the security of a society’s economy. A prerequisite for stability in the financial system is that the market and the general public have faith in it, which in turn requires sound and well-managed banks that have the capital they need to be able to fulfil their critical role in society. In order to be resilient, a bank in turn needs to be profitable, so that it can build reserves and invest in its operations.

For the digitalisation

The development of modern technology has constituted somewhat of an accessibility revolution for many bank customers. The banks have, together with their customers, been driving this development and been early in developing and applying new technology. In 1996, SEB became one of the first banks in the world to open all its services on the Internet for private customers, in 2010 we launched a mobile app, and we have together with other banks developed smooth solutions such as BankID and Swish. Right now, we’re experiencing rapid technological advancement, where two areas are expected to have a particularly significant impact on the financial industry going forward – AI and blockchain technology.

For the broader economy

Every year, banks return billions to society’s economic cycle, for example through interest payments to our customers and bondholders as well as through dividends to our shareholders, which benefits millions of Swedes, among others, through pension funds and fund savings. Through SEB’s largest shareholder Investor AB and the Wallenberg Foundations, a part of our dividend also goes to basic research and education. As a bank, SEB is also a large taxpayer and employer.

Banks’ contribution to the broader economy

Taxes

Banks are among Sweden’s largest taxpayers. During 2024, the seven largest banks in Sweden paid 19.8 billion kronor in corporate taxes, which is equivalent to more than 9 per cent of the total corporate tax in Sweden.
Many of the banks also pay a so-called risk tax, which in 2024 totaled 6.7 billion kronor.
In addition, banks every year pay several billion kronor into the various reserves and funds that have been established to protect society against financial crises and maintain financial stability.
Between 2021-2025, SEB Group paid on average 11 billion kronor in taxes and social security charges per year, as well as 4 billion kronor in imposed levies.

Export och employment

The financial companies are one of Sweden’s largest exporters of services and together accounted for 4.9 per cent of Sweden’s GDP in 2024.
They are also a large and important employer, and employ some 116,000 people in Sweden, which is equivalent to 2.1 per cent of the total workforce in Sweden.
SEB alone paid some 16 billion kronor in salaries, pensions and employee benefits in 2024.

Returning money to society

Every year, banks return billions to society’s economic cycle, for example through share dividends, which benefits millions of Swedes through pension funds and fund savings.
For example, SEB distributed an average of 18 billion kronor per year to its shareholders via dividends between 2021–2025. SEB’s dividend also indirectly contributes to research and education through our owners Investor AB and the Wallenberg Foundations – where the foundations every year grant nearly 3 billion kronor to Swedish universities.
The banks also return money through interest rate payments to customers and bondholders. Between 2021-2025, SEB on average paid 35 billion kronor in interest to its customers every year and 24 billion kronor to its bondholders.

Source: Finance Sweden as well as SEB’s Annual Report 2025

Our engagement and value creation

Banks’ role in the sustainability transition

Banks such as SEB have a crucial role to play in helping to enable the sustainability transition by channeling capital to low-carbon operations, sustainable business models, innovation and new technologies and by supporting our customers in their sustainability transitions.

Banks’ role in society and the economy

What does a bank actually do, what role does it play in our everyday lives, and how does it contribute to society and the economy?

Learn more about SEB’s and banks’ role in society

What is a bank? Download our brochure and learn more about how we create value for our customers and for the economy and society at large.

What does a bank do? (PDF)

SEB – A part of the Wallenberg Ecosystem

SEB’s tradition of supporting people and companies, and contributing to the development of society, goes back to 1856, when André Oscar Wallenberg founded the bank. We are also part of something bigger – the Wallenberg ecosystem.

Sponsorship and collaboration

We are engaged in the communities in which we operate in many ways. In addition to the engagement that comes from our direct business operations, we are involved in different partnerships that support initiatives that have a positive impact on society.

Financial crime prevention

Financial crime is a threat to all of society, and it constantly seeks new ways to exploit banks and bank customers. This is why crime prevention is a vital part of our business.