Swedbank is one of the oldest Swedish banks and is the fourth largest by asset size. In addition to Sweden, which we consider its main market, including the Baltics (Estonia, Latvia, and Lithuania), Swedbank has four home markets. It also operates in Norway, Finland, Denmark, the United States, China, Luxembourg, and South Africa. Swedbank has a market-leading position in the Baltics, with market share ranging from 20% to 55% in retail banking, where it generates 16% of revenue. The bank has around 13,700 employees and around 390 branches.