Its foundation coincided with the political aspirations of the Scandinavian movement, which sought to unite Sweden, Norway and Denmark into a single kingdom.
The bank was founded as Skandinaviska Kreditaktiebolaget, which roughly translates to "Scandinavian Credit Ltd.".
Furthermore, Skandinaviska Banken acquired Örebro Enskilda Bank in 1918, and Skånska Handelsbanken in 1919.
[1] Skandinaviska Kreditaktiebolaget, as it was known as at the time, was the main bank of Swedish businessman Ivar Kreuger, the founder of Swedish Match AB, and was struck hard by the financial crisis of the 1930s, triggered in Sweden by the breakdown of Kreuger's concern, due to his untimely death in Paris in 1932.
As a result, Skandinaviska Kreditaktiebolaget had to accept stock as payment in several companies unable to repay their credit, as well as a SEK200 million bail-out from the Swedish government.