Debt-Hoarding Swedes Are Swedbank’s Biggest Worry, Wolf Says

Sweden’s biggest mortgage lender is deliberately losing market share in an effort to protect itself from impairments amid record household indebtedness.

Sweden’s housing market probably faces “some sort of adjustment,” Michael Wolf, Swedbank AB chief executive officer, said in an interview at the bank’s headquarters in Stockholm yesterday. “You are seeing it gradually as we speak. I am not concerned about a house bubble -- I am more concerned about the debt level.”