Svenska Handelsbanken Reports Good Third-Quarter Results in Line With Expectations: FVE Maintained
Svenska Handelsbanken reported good third-quarter results in line with our expectations. On a year-to-date basis, total income increased to SEK 32.7 billion versus SEK 30.1 billion in the year-ago period. The biggest driving factors were higher lending volumes, up 8%, more than offsetting weaker margins while higher fund and asset management commissions counteracted lower brokerage income. Both net interest income and net fee and commission income increased 6% period over period, bringing in a c...Svenska Handelsbanken is a commercial bank for both private and corporate customers. Co. has six home markets: Sweden, the U.K., Denmark, Finland, Norway and the Netherlands. Co. has four business areas: Handelsbanken Capital Markets, which includes operations for investment banking, asset management, and also pensions and insurance; Stadshypotek, a mortgage provider; Forestry and Farming, which provides financial advice to forest owners and farmers; and Handelsbanken Direkt, which is engaged in business and product development of standardised banking services for the private and corporate market. At Dec 31 2013, Co. had total assets of SEK 2.49 trillion and deposits of SEK 825.21 billion.
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