The institute of private finances (IPF) at Swedbank is extending its activity to comprise Estonia, Latvia and Lithuania. IPF will be responsible for analysing factors influencing private and household finances from the individual’s and the household’s viewpoint, as well as for educating people in the areas of lending, payments, savings and safety measures related to personal finances.
In addition, the private finance economists in the Baltic countries will participate in debates and educational training at schools, educational organisations, consumer organisations and the media.
Ylva Yngveson, head of the institute of private finances in Sweden, said: “An increased insight regarding risks and increased knowledge of how financial services work means that people stand a better chance of understanding the benefit of saving and what it means to get in debt. The Institute of Private Finances has an important role to play here. Furthermore, we would like private finances to be included in the school curriculum.”
Michael Wolf, CEO of Swedbank, said: “Our aim is to raise knowledge in private finances in all the bank’s home markets. We are going to put a lot of effort into spreading information regarding private finances to all parts of society. We will also work to increase awareness of the long-term importance of savings in situations such as buying a house or laying the foundations for a secure old age.”
