Handelsbanken’s Interim Report january – march 2019

Summary January – March 2019, compared with January – March 2018

  • Operating profit increased by 18% to SEK 6,110m (5,161).
  • The Board has assessed the financial performance of the Bank in 2018 and has decided that there will be no provision to the Oktogonen profit-sharing scheme for 2018. The previously recorded provision to Oktogonen for 2018, SEK -827m, has been reversed.
  • Adjusted for this reversal, one-off effects and exchange rate effects, operating profit was largely unchanged.
  • The period’s profit after tax grew by 19% to SEK 4,756m (4,004).
  • Earnings per share increased to SEK 2.45 (2.06).
  • Return on equity increased to 13.4% (11.7).
  • Income increased by 5% to SEK 10,791m (10,324).
  • Net interest income increased by 4% to SEK 7,934m (7,648).
  • Net fee and commission income increased by 2% to SEK 2,512m (2,461).
  • The C/I ratio went down to 40.8% (48.6).
  • The credit loss ratio was 0.05% (0.03).
  • The common equity tier 1 ratio decreased to 16.4% (21.6). 

Summary of Q1 2019, compared with Q4 2018

  • Operating profit increased by 16% to SEK 6,110m (5,288). Adjusting for the Oktogonen profit-sharing scheme, one-off effects and exchange rate effects, operating profit was largely unchanged.
  • The period’s profit after tax grew by 18% to SEK 4,756m (4,016).
  • Earnings per share increased to SEK 2.45 (2.07).
  • Return on equity rose to 13.4% (11.6).
  • Income fell by 3% till SEK 10,791m (11,083). Adjusted for non-recurring items, income decreased by 1%. 
  • Net interest income increased by 1% to SEK 7,934m (7,872).
  • Net fee and commission income declined by 4% to SEK 2,512m (2,611).
  • The C/I ratio went down to 40.8% (49.8).
  • The credit loss ratio was 0.05% (0.06).
  • During the quarter, the Bank’s digital savings guide accounted for more than 10% of new monthly savings in mutual funds via mobile banking in Sweden.  

The slide presentation for today’s press conference will be available at 7:00 a.m. CET at handelsbanken.se/ireng

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

Rolf Marquardt, 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 7:00 a.m. CET on 17 April 2019. 

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

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