Swedbank in Estonia

Swedbank is the largest bank in Estonia as it has more than 900,000 private and 130,000 business customers

We offer a wide selection of financial services, including accounts, mortgages, insurances, credit cards, loans, pensions and investments, both for private customers and companies. Our goal is to help people and companies keep their finances in order over the long term. We follow three guiding values in all our activities: we are simple, open and caring.

We have the largest network of bank offices and ATM-s in Estonia (28 offices and nearly 400 ATM-s) and about 800 „cash-from-store“ service points. Our customers have round-the-clock access to their finances through our consultation centre, internet bank and mobile app.
We support and participate in various initiatives that help Estonian society to grow. We aim to promote financial literacy and entrepreneurship and to contribute into social participation through the development of the entire society.

Swedbank and taxes

Swedbank is one of Estonia's biggest tax payers. For the year 2019, Swedbank paid state taxes in the sum of 107 million euros. This means, we paid 64 million euros of corporate income tax and VAT. As of 2017, Swedbank will pay the entire profit as dividend, paying income tax on the entire sum paid out right away as well. Last year, the bank contributed 33 million euros through various taxes on labour. Additionally, the bank paid 10 million euros in various regulatory fees and charges in 2019.

Swedbank is one of Estonia's biggest tax payers. For the year 2018, Swedbank paid state taxes in the sum of 95 million euros. This means, we paid 56 million euros of corporate income tax and VAT. As of 2017, Swedbank will pay the entire profit as dividend, paying income tax on the entire sum paid out right away as well. Last year, the bank contributed 29 million euros through various taxes on labour. Additionally, the bank paid 10 million euros in various regulatory fees and charges in 2018.

Olavi Lepp

Chairman of the Board, Head of Swedbank

Olavi Lepp

Head of Swedbank Estonia and Chairman of the Board. Born on 1977. BA (cum laude) in Business Administration and Management at Tartu University. Employed since 1997.

Employment experience:

2019–… Head of Swedbank AS and Chairman of the Board
2018–2019 Head of Risk in Swedbank Estonia, Swedbank AS
2016–2018 COO for Group Lending and Payments, Swedbank AS
2010–2015 Head of Product Lifecycle Management Division in Group Payments and Cash Management Unit, Swedbank AS
2009–2010 Head of Payments and Cash Management product unit in Baltic Banking, Swedbank AS
2006–2008 Head of Payments & Cash Management product department in Estonia, Hansapank AS
2000–2006 Product Manager, Hansapank AS
1997–1999 Customer Service Clerk, Hansapank AS

Ede Raagmets

Member of the Board, Head of Customer Service

Ede Raagmets

Head of Customer Service Division. Born in 1972. BA in Industry/Manufacture/Architecture from Tallinn University of Technology. Employed since 1994.

Employment experience:

2017–… Head of Customer Service Division, Swedbank AS
2014–2016 Director of Consultation Center, Swedbank AS
Director of Contact Centre, Swedbank AS
2009–2013 Head of Department, Private Customers Banking and Investment Products, Swedbank AS
2008–2009 Head of Department, Private Customers Banking Products Department, Swedbank AS
2004–2008 Head of Department, Business Technology Department, Hansapank AS
2001–2004 Specialist, Business Technology Department, Hansapank AS
2000–2001 On parental leave
1997–1998 Banking Technology Specialist, Banking Technology, Hansapank AS
1996–1997 Senior Teller, Reisisadama and Kesklinna Branch, Hansapank AS
1995–1996 Chief Cashier, Reisisadama Branch, Hansapank AS
1994–1995 Senior Cashier, Central Cash Depository, Hansapank AS

Anna Kõuts

Chief Financial Officer in Estonia

Anna Kõuts

CFO of Swedbank. Born in 1976. MA in economics from Tallinn University of Technology. Employed since 1996.

Employment experience:

June 2019 - CFO, Swedbank AS
2012 – 2019 Head of Treasury, Swedbank AS
2011 – 2012 Liquidity Manager, Treasury, Swedbank AS
2006 – 2009 Financial Specialist, Treasury, Swedbank AS
1999 – 2004 Private Loan Consultant, Hansapank AS
1996 – 1999 Teller, Hansapank AS
1995 –1996 Secretary, AS Mainor ELT

Liisi Himma

Member of the Board, Head of Corporate Customer Division

Liisi Himma

Head of Corporate Customer Division. Born in 1983. MA and BA from Tallinn University of Technology in Social Sciences (Finance). Employed since 2005.

Employment experience:

2017–… Head of Corporate Customer Division, Swedbank AS
2015–2017 Head of Division, Corporate Financing Division, Baltic Banking Corporate Competence Center, Swedbank AS
2013–2014 Head of Department, Baltic Banking Business Analysis Department, Baltic Banking Corporate Competence Center, Swedbank AS
2010–2013 Head of Department, Baltic Banking Credit Portfolio Analysis Department, Baltic Banking Risk Management Division, Swedbank AS
2009–2010 Project Manager, Baltic Financial Restructuring and Recovery Department, Swedbank AS
2008–2009 Credit Analyst, Estonian Credit Risk Department, Swedbank AS
Project Manager, Project Financing Department, Swedbank AS
2005–2008 Credit Analyst, Project Financing Department, Swedbank AS
Assistant to the Appraiser, 1Partner Kinnisvara Tallinn OÜ

Tarmo Ulla

Member of the Board, Head of Private Customer Division

Tarmo Ulla

Head of Private Banking. Born in 1978. Tarmo holds a master’s degree in business management from Tallinn University of Technology and has been working at Swedbank since 2006.

Work experience:

2019–… Head of Private Banking
2017–2019 Head of Lending Support Division, Baltic Banking Competence Centre, Swedbank AS
2015–2017 Head of Department, Private Consumer Small Financing and Leasing Support, Baltic Banking Competence Centre, Swedbank AS
2013–2015 Head of Department, Private Customer Car Financing, Baltic Banking Competence Centre, Swedbank AS
2011–2013 Head of Department, Private Customer Car Leasing and Hire Purchase, Baltic Banking Competence Centre, Swedbank AS
2009–2011 Head of Partner Relations Department, Swedbank AS
2008–2009 Area Manager, Small Financing Department
2006–2009 Customer Relationship Manager, Small Financing, Consumer Factoring
2003–2006 Project Manager, Estonian Conference Centre

Kerstin Pilt

Member of the Board, Head of Compliance

Kerstin Pilt

Head of Compliance. Born 1973. Master’s degree in International Business Law from Central-European University, Bachelor’s degree in legal Studies from Tartu University. Employed since 2018.

Employment experience:

2018–… Head of Compliance, Swedbank AS
2017 oct-dec Regulatory Affairs Manager, Luminor Bank AS
2009–2017 Head of Legal, Nordea Bank AB Estonia branch
2008–2009 Sworn Attorney at Law, Law Office Tark&Co
2006–2008 Legal Counsel, Estonian Financial Supervision Authority
2002–2006 participating in doctoral program, Central-European University
2000–2002 Legal Counsel, Tuokko Legal OÜ
1998–2000 Attorney at law, Law Office Sorainen

Raul Vahtra

Member of the Board, Head of Risk Management

Raul Vahtra

Member of the Board, Head of Risk Management. Head of Risk Management. Professional higher education from Estonian National Defence Academy. Employed since 2020.

Employment experience:

2020–… Head of Risk management, Swedbank AS
2013–2020 Head of Internal Control Bureau, Estonian Police and Border Guard Board
2004–2013 Head of Estonian FIU, Estonian Police and Border Guard Board
2002–2004 Head of Unit at the Department of Special Operations, Central Criminal Police
1997–2002 Criminal investigator at the Organized Crime Department, Central Criminal Police
1994–1997 Policeman at the Police board

Ivar Kallast

Member of the Board, Head of Risk Control

Ivar Kallast

Member of the Board, Head of Risk Control. Master’s degree from Tallinn Technical University in Computer Science. In Swedbank since 2020.

Employment experience:

2020–… Head of Risk Control, Swedbank AS
2019–2020 Team Lead, Transaction Monitoring Development, Group Financial Crime Prevention, Nordea Bank Abp
2018–2019 Chief Risk Officer, member of Management Board, Inbank AS
2017–2018 Chief Risk Officer, member of Management Board, Luminor Bank AS
2014–2017 Chief Credit Officer, member of Estonian branch management team (starting from 2002), Nordea Bank AB Estonian branch
1998–2014 Chief Credit Officer, Member of Estonian branch Management board, Nordea Bank Finland Plc Estonian branch
1995–1998 Credit analyst, Tallinna Pank AS
1994–1995 Financial Controller, EK AS
1993–1994 Accountant, EK AS

In addition to Swedbank Board members, Swedbank Management consist of:

Ülle Matt

Head of Human Resources

Ülle Matt

Head of Human Resources. Born in 1967. MA in Organizational Behavior from University of Tallinn, BA in Public Relation and Communication from University of Tartu. Employed since 2015.

Employment experience:

2015–… Head of Human Resources, Swedbank AS
2009–2015 Head of Human Resources, Ericsson Supply Site Tallinn
2007–2009 Human Resource Manager, Elqoteq AS
2003–2007 Human Resource Manager, Stora Enso Timber AS, Baltic Production Group
1998- 2003 Secretary, Human Resource Manager, Paikuse Sawmill

Riho Roopõld

Head of Legal Divison

Riho Roopõld

Head of Legal Divison. Born in 1973. MA of Legal from The Private School of Social Sciences Veritas and additional master degree courses in University of Tartu. Graduated Police School of Paikuse. Employed since 2008.

Employment experience:

2008–… Head of Legal Division, Swedbank AS
1999–2008 lawyer, Head of Legal Department subdivision and Head of Department. Estonian Tax and Customs
1996–1998 security division, Ühispank
1991–1995 district constable; criminal investigator; commissar, Police Prefecture in Harju

Kristiina Herodes

Head of Communication & Sustainability, Estonia

Kristiina Herodes

Head of Communications. Born in 1975. Kristiina holds a bachelor’s degree in journalism from the University of Tartu and has been working at Swedbank since 2018.

Work experience:

2018–… Head of Communications, Swedbank AS
2017–2018 Head of Communications, Ministry of the Interior
2016–2017 Head of Communications, political party Pro Patria
2013–2015 2014–2016 PR Consultant, public relations company Peegel ja Partnerid
2011–2014 Advisor, Estonian Ministry of Foreign Affairs
2008–2011 Justice Spokesperson, EULEX – European Union Rule of Law Mission, Kosovo
2003–2008 Head of Public Relations Division, Office of the Prosecutor General
1999–2003 Press Spokesperson, Ministry of Finance

Swedbank AS

Address: Liivalaia 8, Tallinn, EE-15040, Estonia
Registration number: 10060701
Telephone: +372 631 0310
E-mail: info@swedbank.ee

Swedbank P&C Insurance AS

Address: Liivalaia 8, Tallinn, EE-10118, Estonia
Registration number: 11269248
Telephone: +372 888 1513
E-mail: varakindlustus@swedbank.ee

Swedbank Life Insurance SE

Address: Liivalaia 8, Tallinn, EE-10118, Estonia
Registration number: 10142356
Telephone: +372 613 1606
E-mail: elukindlustus@swedbank.ee

Swedbank Liising AS

Address: Liivalaia 8, Tallinn, EE-15039, Estonia
Registration number: 10434248
Telephone: +372 613 1324
E-mail: liising@swedbank.ee

Swedbank Support OÜ

Address: Liivalaia 8, Tallinn, EE-10118, Estonia
Registration number: 10425396
Telephone: +372 613 1422
E-mail: firma@swedbank.ee

Swedbank Investeerimisfondid AS

Address: Liivalaia 8, Tallinn, 15040, Estonia
Registration number: 10194399
Telephone: +372 613 1606
E-mail: funds@swedbank.ee

Björn Elfstrand

Chairman of the Council

Tiina Sepa

Head of Baltic Banking Legal, Deputy Chair of the Council

Tarmo Pajumets

Swedbank Head of Group IT, Member of the Council

Jon Lidefelt

Acting Head of Baltic Banking

Magnus Olsson

Independent Council Member

Nils Karl Magnus Bromark

Independent Council Member

Mustapha Messili

Council Member

Jon Lidefelt

Head of Baltic Banking

Dovilė Grigienė

Head of Swedbank in Lithuania

Reinis Rubenis

Head of Swedbank in Latvia

Olavi Lepp

Head of Swedbank in Estonia

Loreta Lapinskaitė

Head of Channel Management

Andres Tukk

Head of Baltic Banking Segment Management Private

Ieva Vīgante

Head of Corporate Segment, Baltic Banking

Māris Plūme

Head of Communication Latvia, Baltic Banking coordinator

Tiina Sepa

Head of Baltic Banking Legal

Linda Nyman

Head of Baltic Banking
Human Resources

Eugenijus Preikša

Head of Baltic Banking Risk

Rūta Kinderytė

Business Information Officer for Baltic Banking

Kristina Mikenberg

Head of Risk Management Baltic Banking

Kerstin Pilt

Baltic Compliance Coordinator

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Swedbank in Estonia

Swedbank is the largest bank in Estonia as it has more than 900,000 private and 130,000 business customers

Swedbank and taxes

Olavi Lepp

Olavi Lepp

Employment experience:

Ede Raagmets

Ede Raagmets

Employment experience:

Anna Kõuts

Anna Kõuts

Employment experience:

Liisi Himma

Liisi Himma

Employment experience:

Tarmo Ulla

Tarmo Ulla

Work experience:

Kerstin Pilt

Kerstin Pilt

Employment experience:

Raul Vahtra

Raul Vahtra

Employment experience:

Ivar Kallast

Ivar Kallast

Employment experience:

In addition to Swedbank Board members, Swedbank Management consist of:

Ülle Matt

Ülle Matt

Employment experience:

Riho Roopõld

Riho Roopõld

Employment experience:

Kristiina Herodes

Kristiina Herodes

Work experience:

Swedbank AS

Swedbank P&C Insurance AS

Swedbank Life Insurance SE

Swedbank Liising AS

Swedbank Support OÜ

Swedbank Investeerimisfondid AS

Björn Elfstrand

Tiina Sepa

Tarmo Pajumets

Jon Lidefelt

Magnus Olsson

Nils Karl Magnus Bromark

Mustapha Messili

Jon Lidefelt

Dovilė Grigienė

Reinis Rubenis

Olavi Lepp

Loreta Lapinskaitė

Andres Tukk

Ieva Vīgante

Māris Plūme

Tiina Sepa

Linda Nyman

Eugenijus Preikša

Rūta Kinderytė

Kristina Mikenberg

Kerstin Pilt

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