Painting depicting Eduard Ludendorff
Eduard Ludendorff founded Sweden’s first savings bank. Ludendorff was born in 1790 in Stettin, which is now in Poland, and arrived in Gothenburg at the age of 18. In a very short time, Ludendorff managed to establish himself in the Swedish business market. In 1820, Eduard Ludendorff opened Sweden’s first savings bank – Gothenburg Savings Bank.
On the first day, 219 deposits were made with a total value of 646 riksdaler banco, which is equivalent to approximately 50,000 SEK in today’s currency. The painting is said to have been made in 1821 by Bengt Frökenberg (1776-1845). Eduard Ludendorff was 37 years old at the time of the portrait. KMK’s inventory number is 103 644.