Svea Bank and Resurs Bank receive remarks for insufficient credit assessments

Svea Ekonomi, which has now merged with Svea Bank, and Resurs Bank have been deficient in their credit assessments of consumers who received large unsecured loans. Both banks are therefore receiving a remark and an administrative fine of SEK 45 million and SEK 50 million, respectively.

FI's investigation shows that Svea Ekonomi and Resurs Bank often did not base their credit assessments on sufficient information about the consumers' personal finances.

The firms used incomplete information regarding the consumers' debt, and, as a result, did not have information about all of the debt that a consumer may have had. For example, the firms disregarded the size of any mortgages. The firms also disregarded information about consumers' costs for housing, children and existing loans. This type of information is very important for being able to assess whether a consumer can pay back a loan. The firms thus have not performed thorough credit assessments.

Svea Bank and Resurs Bank are therefore each receiving a remark and must pay an administrative fine of SEK 45 million and SEK 50 million, respectively.

"Thorough credit assessments are essential for ensuring that consumers do not fall into debt traps. The fact that the firms completely disregarded key information about consumers' expenses and did not even consider any mortgages is notable," says FI's Deputy Director General Susanna Grufman.

FI's Board of Directors decided on the sanctions on 21 June 2022.


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