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Handelsbanken Granscole

Handelsbanken reports increased third quarter performance

Wednesday, 23 October 2013
Swedish bank, Handelsbanken reported operating income for the third quarter of 2013 of Skr4.571 million. That compares with profit of Skr 4.289 million corresponding period in 2012.

The market had expected the operating income of Skr4.472 million, according to Six Market Estimates compilation of 18 bank analysts’ forecasts.

The period’s profit after tax for total operations went up by 7 per cent to SEK 3,695 million (GBP 367 million), while earnings per share increased from SEK 5.47 to SEK 5.82

Summary of Q2 2013, compared with Q1 2013

Summary January – June 2013, compared with January – June 2012

Operating profit increased by 9 per cent to SEK 4,723 million (GBP 469 million)
Return on equity for total operations rose from 13.8 to 15.1 per cent
Income increased by 5 per cent to SEK 9,240 million (GBP 918 million)
Expenses rose by 1 per cent to SEK -4,215 million (GBP -419 million)
The loan loss ratio was 0.07 per cent

The period’s profit after tax for total operations went up by 9 per cent to SEK 7,161 million (GBP 714 million), while earnings per share increased from 10.54 to SEK 11.29
Operating profit increased by 2 per cent to SEK 9,059 million (GBP 904 million)
Return on equity for total operations was 14.2 per cent
Income rose by 2 per cent to SEK 18,040 million (GBP 1,800 million)
Net interest income was SEK 13,214 million (GBP 1,319 million)
The C/I ratio was 46.5 per cent
The loan loss ratio was 0.07 per cent
The core tier 1 ratio according to Basel II increase from 16.1 to 18.2 per cent, while the core tier 1 ratio according to Basel III was 17.8 per cent
The Bank’s liquidity reserve exceeded SEK 750 billion (GBP 73 billion)

Full interim report from Handelsbanken

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