Handelsbanken Q3: Stable Underlying Performance; Restructuring Costs in Line with Expectation
Svenska Handelsbanken AB (Handelsbanken or the Bank) reported statutory net income of SEK3,322 million at the end of Q3 2020, down 16% compared to Q2 2020 and down 7% Year-on-Year
(YoY). The result was significantly affected by SEK 1,470 million one-off provisions for restructuring
costs and SEK 38 million IT impairments. Statutory net income declined by 11% in 9M 2020
compared to 9M 2019. Nevertheless, Handelsbanken's underlying profitability remains solid.
Removing all items affecting comparability, the Bank's ROE was 10.6% in 9M 2020 compared to
12.6% 9M 2019, above the European average.
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