Despite the fact that the Swedish economy is headed for recession and many households and companies are struggling with their bills, the big banks are making a fortune.
The interest rates, which have left many customers in a cold sweat, have enabled the banks to make more money from their lending of savings. According to Nordea’s head of Sweden, Per Långsved, it is the first time in several years that banks can once again make money from customers’ savings capital.
– It is something that has re-entered after almost a decade’s absence when the banks did not earn anything, or even had costs for taking deposits, Per Långsved has previously said to the Economic Agency.
Defends current interest on savings capital
At the same time, the big banks have been criticized for, in connection with the Riksbank raising the key interest rate, raising bank customers’ interest rates on, among other things, mortgages – but not the interest rate on savings capital. Something that Jens Henriksson defends:
– Previously, we had negative interest rates, and also had to pay bank tax. That meant we lost on every penny that people deposited. Now, however, we are starting to make money from it, and that is what makes the banks develop better. And it is good to have profitable banks, he says and continues:
– If we don’t make money, it will lead to socio-economic problems in the long run.
Hear more in the clip above.