Record profits for the banks as interest rates rise

Oct. 26, 2023

Over SEK 120 billion. That's how much the four big banks have earned so far this year. The difference between the banks' mortgage interest and savings interest has become a real cash cow - now voices are being raised for extra tax to access the banks’ profits. Bo Becker, the director of the Swedish House of Finance, contends that implementing a bank tax is not the optimal solution. He argues that the root issue lies in the lack of competition within the mortgage market.