Handelsbanken granted licence for new UK subsidiary

Handelsbanken has today been granted a banking licence for a newly formed subsidiary in the UK: Handelsbanken plc. 

At present, Handelsbanken’s business operations in the country are conducted in the form of a legally dependent branch of the Bank, and include a nationwide network of over 200 local branches.
In order to ensure that the best possible conditions are in place for the continued positive development of the operations in the UK, the Bank had previously decided to change the structure of the UK operations from a branch to a wholly owned subsidiary in the Handelsbanken Group.

The granting of the licence by the supervisory authorities in the UK is a crucial step on the way to implementing this structural change. Before the final migration of the Bank’s business operations to the new UK subsidiary can take place, the formal legal authorisation of the transfer of assets and liabilities from branch to subsidiary must be ratified. This is expected to be completed by no later than the first quarter of 2019.
 





For further information, please contact: 

Mikael Sörensen, CEO Handelsbanken UK + 46 8–22 92 20 
Elisabet Jamal Bergström, Chief Communications & Sustainability Officer +46 8–701 50 32
Johan Wallqvist, Head of Global Media Relations +46 8–701 80 47, +46 72–206 34 50



For more information about Handelsbanken, see: www.handelsbanken.com 

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