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Svenska Handelsbanken AB (publ): 1 director

A director at Svenska Handelsbanken AB (publ) sold/bought 12,000 shares at 120.250SEK and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over th...

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Norwegi...

Total lending grew by 5.5% y-o-y (5.2% adjusted for FX effects, as Statistics Norway does) and 0.4% m-o-m. Last month, total lending was up 5.4% y-o-y. Corporate lending grew by 8.8% y-o-y and 0.7% m-o-m. Last month, corporate lending increased by 8.0% y-o-y. Adjusted for FX effects, the y-o-y growth in corporate lending was 7.8% (vs. 7.1% last month). Household lending was up 4% y-o-y and 0.3% m-o-m. Last month, household lending increased by 4.2% y-o-y.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Swedish mortgage pricing – October 2022

Average negotiated 3-month rate up by 38bp m-o-m Avg. 3M new lending margin up by 8bp in Oct vs. Q3 So far, reality is developing in line with our expectations

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Finnish...

Total lending was up 4.7% y-o-y and -0.2% m-o-m. Last month, total lending increased by 5.1% y-o-y. Corporate lending was up 12.4% y-o-y and -0.3% m-o-m. Retail lending increased by 1.7% y-o-y and -0.2% m-o-m. While Finnish household mortgage lending growth is abating, corporate lending growth remains high. This is similar to the trends we are seeing in Denmark and Sweden, and is most likely partly related to the malfunctioning bond markets.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Norwegi...

Total lending grew by 5.4% y-o-y and 0.4% m-o-m. Last month, total lending was up 5.3% y-o-y. Corporate lending was up by 8% y-o-y and 0.4% m-o-m. Last month, corporate lending increased by 7.9% y-o-y. Adjusted for FX effects (as Statistics Norway (SSB) does), the y-o-y growth in corporate lending was 7% (vs. 7.7% last month). Household lending was up 4.2% y-o-y and 0.5% m-o-m. Last month, household lending increased by 4.2% y-o-y.

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Higher buffer for Swedes in Norway - Neutral

The SFSA has reciprocated the Norwegian SIFI buffer Minor impact on the CET1 req. in SHB & SEB - Neutral The Finnish FSA should come clean on NDA before YE

Hanna Skolt ... (+5)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
  • Rasmus Vendelboe Jakobsen

Powerpoint Sector Report - Nordic banks - Statistical update - Danish ...

Total lending in September was down 4.6% y-o-y (corporate +3.3%; retail -8.9%) and decreased 3.0% m-o-m. Mortgage lending decreased by 9.9% y-o-y (corporate -6.1%; retail -11.6%) and decreased 4.0% m-o-m. Bank lending increased 13.8% y-o-y (corporate +26.4%; retail +3.6%) but decreased -0.3% m-o-m (corporate -2.3%; retail 1.7%).

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks - Statistical update - Swedish...

Total lending increased by 9.0% y-o-y (corporate lending 16.5% and retail lending 5.0%) and 0.3% m-o-m. Bank (non-mortgage) lending increased by 16.6% y-o-y (corporate lending 22.0% and retail lending 3.5%) and 1.5% m-o-m. Mortgage lending was up 6.0% y-o-y (corporate lending 8.9% and retail lending 5.5%) and 0.3% m-o-m.

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Svenska Handelsbanken - Q3’22: The NII train is here

Huge income beat driven mainly by net interest income Adjusted EPS up 5-9% for 2022-24e Adj. P/E’23e of 9.0x and div. yields of 9-10% in 2022-24e

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Svenska Handelsbanken - Q3’22: Much stronger NII – cons. estimates up

Q3’22 op. profit +18% vs. ABG and +20% vs. consensus Better income and net recoveries outweigh higher costs Cons. estimates should come up for 2023-24. Stock up

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Svenska Handelsbanken - Heads-up for Q3 report, 19 October

SHB will report Q3’22 on Wednesday 19 October at 07.00 CET. A telco. will follow at 09.00 CET. Please register at Handelsbanken.com/sv/investor-relations for dial-in details

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Swedish mortgage pricing – Sept. 2022

Average negotiated 3-month rate up by 22bp m-o-m Avg. 3M new lending margin down 47bp in Q3 vs. Q2 So far, reality is developing in line with our expectations

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Report - The NII train is coming

High single-digit net earnings growth in 2022-24… …and attractive dividend yields We keep our BUY rating with an updated TP of SEK 111

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Svenska Handelsbanken - Do you want to sleep well at night?

High single-digit net earnings growth in 2022-24… …and attractive dividend yields We keep our BUY rating with an updated TP of SEK 111

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Finnish...

Total lending in August was up 5.1% y-o-y and 1.1% m-o-m. In July total lending increased by 4.0% y-o-y. Corporate lending in August was up 12.5% y-o-y and 4.0% m-o-m. In July corporate lending increased 7.4% y-o-y. Retail lending in August increased by 2.2% y-o-y and -0.2% m-o-m. In July retail lending grew by 2.7% y-o-y.

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Swedish...

Total lending increased by 8.9% y-o-y (corporate lending 15.3% and retail lending 5.5%) and 0.6% m-o-m. Last month, total lending was up by 8.8% y-o-y (corporate lending 14.8% and retail lending 5.9%). Bank (non-mortgage) lending increased by 15.5% y-o-y (corporate lending 20.0% and retail lending 4.4%) and 1.5% m-o-m. Last month, bank lending increased by 14.7% y-o-y (corporate lending 18.7% and retail lending 5.1%). Mortgage lending was up 6.4% y-o-y (corporate lending 8.9% and retail lending ...

Hanna Skolt ... (+5)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
  • Rasmus Vendelboe Jakobsen

Powerpoint Sector Report - Nordic banks – Statistical update – Danish ...

Total lending in August was down 1.9% y-o-y (corporate +7.0%; retail -6.7%) and down 1.5% m-o-m. Last month, total lending declined by 0.6% y-o-y (corporate +7.1%; retail -4.6%). Mortgage lending decreased by 7.1% y-o-y (corporate -3.2%; retail -8.8%) and decreased 3.0% m-o-m. Last month, mortgage lending was down 4.3% y-o-y (corporate -0.8%; retail -5.9%). Bank lending increased 17.0% y-o-y (corporate +34.0%; retail +3.7%) and increased 3.0% m-o-m (corporate +5.6%; retail 0.5%). Last month, b...

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Norwegi...

Total lending grew by 5.3% y-o-y and 0.6% m-o-m. Last month, total lending was up 5.2% y-o-y. Corporate lending was up by 7.9% y-o-y and 1.4% m-o-m. Last month, corporate lending increased by 7.1% y-o-y. Household lending was up 4.2% y-o-y and 0.3% m-o-m. Last month, household lending increased by 4.3% y-o-y.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Swedish mortgage pricing – August 2022

Average negotiated 3-month rate up by 39bp m-o-m Avg. 3M new lending margin down 45bp QTD vs Q2’22 So far, reality is developing in line with our expectations

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Finnish...

Total lending in July was up 4.0% y-o-y and 0.4% m-o-m. In June total lending increased by 3.3% y-o-y. Corporate lending in July was up 7.4% y-o-y and 0.6% m-o-m. In June corporate lending increased 4.8% y-o-y. Retail lending in July increased by 2.7% y-o-y and 0.3% m-o-m. In June retail lending grew by 2.7% y-o-y.

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