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Handelsbanken’s Interim Report January – June 2021

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January – June 2021
- compared with January – June 2020

  • Operating profit increased by 14% to SEK 11,600m (10,196). Adjusted for foreign exchange effects and the year’s provision for Oktogonen, operating profit increased by 17%.

  • Return on equity increased to 11.1% (10.3).

  • Earnings per share increased by 15% to SEK 4.60 (3.99).

  • The common equity tier 1 ratio increased to 20.5% (18.7).

  • The credit loss ratio was 0.00% (0.04).

  • Income grew by 5% to SEK 22,894m (21,803). Adjusted for foreign exchange effects, income increased by 6%.

  • Continued large inflows to the Bank’s mutual funds. Commission income from fund management grew by 34%.

  • The underlying increase in expenses, adjusted for Oktogonen and foreign exchange effects, was 325 m, or 3%, with more than the entire increase being attributable to rising development costs. Including Oktogonen and foreign exchange effects, expenses increased by 3% to SEK -11,355m (-10,980).

  • The C/I ratio improved to 49.6% (50.4).

Q2 2021
- compared with Q1 2021

  • Operating profit increased by 7% to SEK 5,988m (5,612).

  • Return on equity was 11.6% (10.6).

  • Earnings per share increased by 8% to SEK 2.39 (2.21).

  • Credit quality remains very good, and credit losses consisted of net recoveries
    of SEK 47m (8).

  • Income climbed by 3% to SEK 11,602m (11,292). Net interest income improved by 2% to SEK 7,961m (7,818).

  • Commission income from fund management rose by 6%.

  • Growth in both corporate and household lending. In total, lending increased by SEK 31bn.

  • Expenses were essentially unchanged at SEK -5,672m (-5,683).

  • The cost-cutting programme is proceeding according to plan, and thus far, measures corresponding to SEK 1.3bn have been decided on/initiated since Q3 2020, with achieved positive effects on profit of SEK 400m. Just over 700 persons, or around 6% of the total number of employees, have reached an agreement to leave the Bank.

  • The C/I ratio improved to 48.9% (50.3).

  • Handelsbanken first in the Nordic region with green EU taxonomy-adapted loans.



The slide presentation for today’s press conference will be available at 6:30 a.m. CET at handelsbanken.com/ir

For further information, please contact:
Carina Åkerström, President and Group Chief Executive
Tel: +46 (0)8 22 92 20

Carl Cederschiöld, CFO
Tel: +46 (0)8 22 92 20

Lars Höglund, Head of Investor Relations
Tel: +46 (0)8 701 51 70, laho01@handelsbanken.se

 

This information is of the type that Handelsbanken is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 6:30 a.m. CET on 16 July 2021.

For more information about Handelsbanken, please go to: handelsbanken.com

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Handelsbanken Q2 2021

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