Handelsbanken’s interim report January – June 2022

JANUARY – JUNE 2022
- COMPARED WITH JANUARY – JUNE 2021

• Operating profit increased by 2% adjusted for items affecting comparability* and the effects linked to the introduction of the Swedish risk tax in 2022. Reported operating profit increased by 8% to SEK 11,832m (10,979).
• Return on equity increased to 11.7% (11.1).
• Income increased by 2% adjusted for items affecting comparability*, which was attributable to higher net interest income and fee and commission income. Reported income increased by 9%.
• Expenses increased by 1% adjusted for items affecting comparability*, which was entirely attributable to increased development investments focusing on efficiency improvements and business growth. Reported expenses increased by 3%.
• The C/I ratio improved to 46.3% (47.0) adjusted for non-recurring items*. The reported C/I ratio improved to 44.2% (47.0).
• The credit loss ratio was 0.00% (0.00).
• The common equity tier 1 ratio was 18.7% (20.5).

Q2 2022
- COMPARED WITH Q1 2022

• Operating profit decreased by 5%, adjusted for items affecting comparability*. Reported operating profit decreased by 20% to SEK 5,246m (6,586).
• Return on equity was 9.9% (13.4).
• Income decreased by 2% adjusted for items affecting comparability*. Net interest income reached its highest level ever, but this was offset by negative effects in other income items, stemming from the downturn of the stock market and volatility in credit markets. Reported income decreased by 10%.
• Expenses increased by 1% adjusted for items affecting comparability*. Reported expenses declined slightly.
• The C/I ratio was 46.6% (45.9), adjusted for non-recurring items*. The reported C/I ratio was 46.6% (42.0).
• The credit loss ratio was 0.01% (0.00).

* Foreign exchange effects and other items affecting comparability, consisting of:
Q2 2022:     Special item: SEK -50m Oktogonen (staff costs).
Q4 2022:     Non-recurring item: SEK 1,059m sales of real estate (other income). Special item: SEK -87m Oktogonen (staff costs).
Q1 2021:     Special item: SEK -213m Oktogonen (staff costs).
Q2 2021:     Special item: SEK -34m Oktogonen (staff costs).

 
The slide presentation for today’s press conference will be available at 07:00 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

Peter Grabe, Head of Investor Relations
Tel: +46 (0)8 701 11 67, peter.grabe@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 07:00 a.m. CET on 15 July 2022.

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

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