Sparbanken Västra Mälardalen and Sparbanken Rekarne have announced their intention to merge, creating a combined savings bank in Sweden's Mälardalen region. The deal was announced on 24 January 2025.
Both institutions are rooted in the Mälardalen area, a region that stretches across parts of Västmanland and Södermanland.
OWNERSHIP
Profits generated by savings banks are typically directed in part to local charitable foundations, although Sparbanken Rekarne is owned 50% by its savings bank foundation and 50% by Swedbank. Under the agreement, the merged bank is to be owned 30% by Sparbanksstiftelsen Rekarne, 40% by a new foundation formed from Sparbanken Västra Mälardalen and 30% by Swedbank.
BRANCHES AND APPROVALS
The combined bank is set to have six branches and around 180 employees across five municipalities. The deal requires approval from Finansinspektionen and the Swedish Competition Authority, as well as Sparbanken Västra Mälardalen's members, and is expected to complete in autumn 2025.
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