Handelsbanken sells its operations in Denmark

Handelsbanken AB has reached an agreement with Jyske Bank A/S regarding the transfer of Handelsbanken’s operations in Denmark.

The agreement includes business relationships with private and corporate customers, 43 branches and approximately 600 employees. The assets that are transferred, which primarily comprise loans granted to private customers and companies, amount to approximately SEK 98 billion as at 31 March 2022. Expressed in accordance with EU’s capital adequacy regulation, this loan portfolio has a risk-weighted exposure amount of approximately SEK 22 billion. The sale is expected to be completed in Q4 2022.

On the transfer date, the present value of the assets will be calculated and reduced by the liabilities assumed by Jyske Bank A/S, primarily constituted by deposits from the public. The remaining amount will be paid in cash, plus a premium of DKK 3 billion (approximately SEK 4.3 billion at the current exchange rate).

Overall, non-recurring effects linked to the transaction, including dissolution of goodwill amounting to SEK 2.6 billion, are expected to have a relatively neutral impact on the Group’s operating profit.

The sale is contingent on customary approvals by public authorities. All employees in the Danish operations are included in the sale and the unions have been informed.

For further information, please contact:
Carina Åkerström, President and Group Chief Executive Officer, +46 8 22 92 20
Carl Cederschiöld, CFO, +46 8 22 92 20
Peter Grabe, Head of Investor Relations, +46 8 701 11 67
Viktoria Aastrup, Head of Group External Communications, +46 730 43 51 59

This information is of the type that Svenska Handelsbanken AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08:00 CET on 20 June 2022.

For more information about Handelsbanken, visit www.handelsbanken.com