S-Bank

S-Bank Ltd (Finnish: S-pankki Oy, Swedish: S-Banken) is the bank of the S-Group (Finnish: S-ryhmä), a Finnish retailing cooperative organisation.

S-Bank Ltd

Type	Private
Industry	Financial services
Founded	2006
Headquarters	Helsinki, Finland
Products	Deposit banking
Parent	S Group
Website	www.s-pankki.fi

S-Bank is the first so-called supermarket bank in Finland. Changes in legislation about personal accounts at cooperatives made them uncompetitive, such that founding an entirely new bank was actually easier than keeping the personal accounts as cooperative funds. The cooperative did, and the bank continued to, offer a relatively high interest to deposited funds. It was 2.5% in February 2008, although this was cut to 0.2% due to the global recession since 2008. The existing network of supermarket service desks is used to service customers.

Fines

In 2019 S-Bank was fined ca. €1m over lax monitoring of money laundering. No actual money laundering was found, but the problem was poor conformance to legal "know your customer" requirements.[1]

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References

S-Bank fined nearly €1m over lax monitoring of money laundering YLE 18.12.2019

External links

S-Bank (in Finnish)
S-Bank (in Swedish)

Selected members of the Euro Banking Association
Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg BKS Bank Erste Group Bank Oberbank Oesterreichische Nationalbank Raiffeisen Bank International Raiffeisenlandesbank Oberösterreich Raiffeisen-Landesbank Tirol Steiermärkische Bank und Sparkassen
Belgium	Dexia Bank KBC Bank Bank van de Post
Cyprus	Bank of Cyprus Hellenic Bank
Denmark	Amagerbanken Arbejdernes Landsbank Danske Andelskassers Bank Danske Bank DiBa Bank Djurslands Bank Jyske Bank Nordjyske Bank Nørresundby Bank Østjydsk Bank Ringkøbing Landbobank Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank Vestfyns Bank Vestjysk Bank
Finland	Aktia Bank Bank of Åland Nordea Bank Pohjola Bank S-Bank Tapiola Bank
France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas BPCE BRED Banque Populaire Crédit Agricole Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale
Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank Deutsche Bank Deutsche Bundesbank Deutsche Postbank DZ Bank Europe Arab Bank Frankfurt Hamburger Sparkasse JP Morgan Chase Bank Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss Euro Clearing Bank The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland)
Greece	Alpha Bank Eurobank Ergasias National Bank of Greece Piraeus Bank
Hungary	Budapest Bank CIB Bank Erste Bank FHB Mortgage Bank Hanwha Bank Hungarian Development Bank Hungarian National Bank K&H Bank MagNet Bank MKB Bank OTP Bank Raiffeisen Bank Sberbank Europe Group TakarékBank UniCredit
Ireland	Allied Irish Banks Bank of Ireland
Italy	Banca del Fucino Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare di Sondrio Banca Sella Banco BPM BPER Banca Cassa di Risparmio di Fermo Cassa di Risparmio di Ravenna Banca di Imola Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Nexi Raiffeisen Landesbank Südtirol UBI Banca UniCredit
Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg KBL European Private Bankers Société Générale Bank & Trust
Netherlands	ABN Amro Bank De Nederlandsche Bank ING Bank Rabobank Nederland
Portugal	Banco BPI Banco BCP Caixa Geral de Depósitos Novo Banco
Slovenia	Banka Slovenije
Spain	Abanca Banco Bilbao Vizcaya Argentaria Banco Sabadell Banco Santander Bankia Bankinter CaixaBank Ibercaja Banco Kutxabank Unicaja Banco CECABANK
Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank
United Kingdom	Bank of Tokyo-Mitsubishi UFJ Barclays Bank Citibank DNB Bank (NOR) HSBC Bank JPMorgan Chase Bank, London Branch Kookmin Bank International Lloyds Bank MashreqBank (UAE) Royal Bank of Scotland UBS Wells Fargo Bank
Non-EU	Bank of China (CHN)

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