Handelsbanken’s 2020 Annual Results beat Forecasts

During what has been a challenging year, one of our BSCC Patrons, Handelsbanken have achieved steady year-on-year growth with operating profits of SEK 20,135m. This came alongside the positive news that individual customer satisfaction was now at 81% for 2020 too. The company have said they are now looking to work on “enhancing our relationship banking service through our digital capabilities, placing expertise and support even closer to our branches”.

The Q4 results also revealed net profit beat forecasts on noticeably higher income and lower credit losses. The company also experienced assets under management in sustainable strategies rise 123% to SEK 2,372. Streamlining at Handelsbanken will undergo a decentralised decision-making process and a reduced number of branches across the world. These additional savings will then be invested in IT to further buttress the firm’s future readiness. Dividends are to be SEK 4.10 a share and a year-long extension to the repurchasing program of a maximum of 120 million shares has also been proposed.

You can read a full summary of the report here.