Of Special Interest
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- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
17th February 2012
Handelsbanken profits up - lower loan losses - expansion in UK
Handelsbanken reported net attributable profit of SeK 3,046m (€347m £289m $454m ¥35.6bn Y2,857m) for Q4 and SeK 12,323m (€1,403m £1,171m $1,836m ¥144.0bn Y11,559m) for the full year. The profits were UP 5% and 12% on the respective periods of 2010.
The biggest factor in the profit increase was reduced cost of risk, down 46% for the full year. The bank made progress more generally however with income growing 5% for the full year versus a 3% growth in expenses.
Handelsbanken UK loan growth indicates that despite the assertion from UK banks that businesses are not wishing to borrow in the current climate there is demand the British owned banks are not satisfying. The bank increased its UK operating profit by over one half mainly arising from a 25% increase in loan growth. It continues to grow its UK branch network with a further 21 branches opening taking the total to 104.
Income Summary 2011-Q4 2010-Q4 2011-FY 2010-FY
SeKm SeKm SeKm SeKm
Interest income 16,618 11,951 61,560 43,389
Interest expense -10,261 -6,339 -37,947 -22,052
_________________________________________
Net interest income 6,357 5,612 23,613 21,337
Net fee and commission income 1,877 2,127 7,673 8,022
Financial items at fair value change 63 276 1,016 1,377
Risk result - insurance 38 67 209 205
Other dividend income 0 1 146 190
Share of profit of associated companies -3 -4 9 11
Other income 42 49 143 154
_______________________________________
Total income 8,374 8,128 32,809 31,296
Staff costs -2,510 -2,466 -9,942 -9,504
Other administrative expenses -1,392 -1,425 -5,060 -5,062
Depreciation, amortisation and impairments -120 -106 -462 -452
________________________________________
Total expenses -4,022 -3,997 -15,464 -15,018
Profit before loan losses 4,352 4,131 17,345 16,278
Net loan losses -243 -293 -816 -1,507
Gains/losses on disposal of assets 1 -5 7 -1
_______________________________________
Operating profit 4,110 3,833 16,536 14,770
Taxes -1,096 -1,030 -4,372 -3,962
________________________________________
Profit from continuing operations 3,014 2,803 12,164 10,808
Profit from discontinued operations after tax 32 89 159 217
_______________________________________
Net profit 3,046 2,892 12,323 11,025
Minorities 0 0 0 0
_______________________________________
Attributable to shareholders 3,046 2,892 12,323 11,025