The financial crisis in the beginning of the 1990´s the financial crisis had a strong impact on the Swedish economy. Some of the main actors in the crisis were the largest banks of Sweden which brought a huge amount of losses on themselves. One of the main reasons for this was that the banks focused on volume increases rather than on credit losses. The credit analysis process is performed differently these days and it is the development of this process that is the focus for the authors.

This thesis is about the credit analysis process in the four largest banks of Sweden. The purpose of the thesis is to highlight which factors the banks include in the credit analysis process and in how small and medium size companies are treated in this process. Another purpose of this thesis is to see if there are any differences between the four banks.

The aim of the thesis is reached through empirical investigation through personal interviews with representatives from the four banks. Complementary interviews have also been made with three analysts and three companies to get a more general impression. The empirical investigation is then compared to the theoretical references.

The authors reached conclusion is that the central part of the credit analysis process comprises the importance of the companies’ future cash flow and credit refund. A clear and refined business concept is very important along with the board of companies’ board members.

The credits analysis process is very similar in all the four banks; the main similarity is that all the banks make a central economy analysis along with a surrounding world and business analysis. A future forecast is also made. From this analysis the banks can measure the credit risk rate. If these factors are of satisfaction the banks will accept the companies credit applications.

The banks are very much similar to each other, with the largest difference that Handelsbanken have a more flattened organization compared to the other banks.