Swedbank and SpareBank 1 to form a joint venture.

Swedbank, a Nordic-Baltic banking group, and SpareBank 1, a mobile bank, agreed to form a joint venture to establish a Nordic investment bank, SB1 Markets. Financial terms were not disclosed. "We are now expanding our already successful partnership with SpareBank 1 to create a leading Nordic investment bank with a strong Swedish presence. Our combined resources and distribution capacity will create a wide range of opportunities for Swedbank’s corporate clients," Jens Henriksson, Swedbank President and CEO.