“Swedbank” will give young people money to start investments

In order to promote the development of investment culture in Latvia, funds can be applied for regardless of whether young people who have reached the age of majority are Swedbank customers or not.

The bank explains that the purpose of this donation is to give as many young people as possible the opportunity to get to know the world of investments and to start thinking about promoting well-being in time. It is expected that the total amount of the donation could reach 50,000 euros during the year, depending on the number of young people who decide to use this opportunity.

The initiative is intended for all young people who reach the age of 18 in 2024. In order to use this opportunity, young people will have to open a “Swedbank” investment account and apply to receive 20 euros using the “Swedbank” internet bank. After receiving the application, within two weeks, the shares of the “Swedbank” “Robur Access Edge Global” fund worth 20 euros will be credited to the investment account.

Taking into account that such notifications can also be misused by financial fraudsters, bank representatives point out that “Swedbank” will not call and ask young people to disclose data in order to receive a gift. Fund shares will be credited to the “Swedbank” investment account after the young people have applied to receive the gift by following the instructions in the “Swedbank” internet bank.

Swedbank is the largest bank in Latvia in terms of assets.