Wide-Moat Handelsbanken Posts Stable First Quarter With Operating Profit Increasing 8% Yearly
Handelsbanken announced its first-quarter numbers with net income of SEK 4 billion, indicating an increase of 2% yearly and 19% compared with the fourth quarter of 2016. The quarterly sharp jump in net income was mainly driven by lower loan loss provisioning. On the operating revenue side, the bank managed to increase net interest income and fee income by 4% and 8% year over year, respectively. Net interest income was supported by increased business volumes, and net fee income growth was support...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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