Swedbank started its business in 1820, when savings banks started their operations in Sweden. Since its inception, close cooperation with customers and the local community has been at the heart of the bank’s business. Swedbank aims to promote a balanced and sustainable financial position for many households and businesses.

Swedbank offers the widest range of banking services to individuals and companies in the bank's local markets – the Baltic states and Sweden. The core business serves mostly individuals, as well as small and medium sized businesses. Swedbank has chosen a traditional banking model that focuses on customer relations and private consultations.

Swedbank’s cooperation with the UL and the UL Foundation began in 2005 with the aim of promoting development of education in Latvia. During these years, Swedbank has supported a number of student events and activities, the largest being the "Open Mind" scholarship competition for 15 higher education institutions of Latvia in cooperation with the UL Foundation. The purpose of the scholarship was to stimulate students' interest and more profound understanding of the issues topical to society, practical studies of future trends and seeking of solutions.

Māris Avotiņš, CEO of Swedbank Latvia at the time and Honorary Chair of the "Open Mind" Scholarship Commission: "In 2007, Swedbank established "Open Mind" scholarship programme to provide comprehensive support to higher education by granting 15 higher education institutions of Latvia more than 100 scholarships worth EUR 53 350. This is an unprecedented instance when a single enterprise provides support of this extent. Implementing such a large-scale project requires a lot of effort and responsibility, and therefore we turn to the UL Foundation, which has extensive experience and good reputation in administering scholarships at both the UL and other universities."

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Cooperation and support from Swedbank commenced in 2005. Major projects – "Open Mind" research scholarships in the 2007/2008 and 2008/2009 academic years, as well as support for the annual UL student festival "Aristotle".

In 2019, Swedbank funded the Excellence Award 2019 by donating EUR 3 600.

In 2018, the project "UL Student Business Incubator" was supported in the amount of EUR 1 800 and the event "In Student’s Shoes" in the amount of EUR 1 170.

In 2017, EUR 2 000 were contributed to the event "In Student’s Shoes" and EUR 2 500 to "Business Incubator".

In 2016, Swedbank continued to support the UL Foundation by donating EUR 1 500 for the annual UL freshmen student festival "Aristotle", as well as gave EUR 5 500 to fund the UL Business Incubator business competition "Lightning Business".

In 2015, Swedbank supported the further development of the UL Business Incubator with EUR 1 500, the UL Business Incubator competition "Lightning Business" in the amount of EUR 4 000, and the UL Student Council event "Pre-Aristotle 2015".

In 2014, Swedbank provided support for the development of the University of Latvia Faculty of Business, Management and Economics Business Incubator in the amount of EUR 2 200, funded the business competition "Lightning Business" organized by the UL Faculty of Business, Management and Economics Business Incubator, contributing EUR 3 490 for this purpose, as well as gave support for the annual student festival "Aristotle" – EUR 1 400.

At the beginning of 2013, Swedbank provided financial support to the UL Basketball Club (EUR 7 100) and the Business Incubator (EUR 2 150), as well as shared knowledge by offering lectures to the University of Latvia students, sending their experts as lecturers or consultants.

In 2012, Swedbank supported the University of Latvia basketball team with the amount EUR 8 850 and the UL radio NABA in the amount of EUR 1 450.

In 2011, Swedbank contributed to supporting the basketball team "University of Latvia" in the amount of EUR 10 000, as well as creating and awarding UL Basketball scholarships to the best UL basketball players in the total amount of EUR 1 450. A contribution to the activity of the UL radio NABA in the amount of EUR 2 850 was given, and assistance provided to the event "Science Cafe" in the total amount of EUR 1 450.

We greatly appreciate the generous support to education and development!