Handelsbanken announces lending up 11 per cent

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Sweden-headquartered bank Handelsbanken, which has over 200 branches across the UK including Oxfordshire, Gloucestershire, Warwickshire and Worcestershire has revealed lending up 11 per cent to over £20 billion. Household lending (largely mortgages) is up seven per cent to £6.5 million and corporate lending is up 13 per cent to £13. 6 billion.

UK income increased by 13 per cent to £411.4 million and operating profits are up by 18 per cent to £171.6 million.

Handelsbanken plans to create a UK authorised subsidiary which it says is a natural next step in its development. Over recent years Handelsbanken has developed into a bigger and broader UK business based on demand for its local decision-making approach, where customers enjoy direct contact with experienced branch staff who have no product or sales targets.

Mikael Sorensen, Handelsbanken UK CEO, said: “Both our strong Q3 results and our positive EPSI ratings reinforce the continued demand for our relationship banking here in the UK.”

“We are currently investing in creating a UK subsidiary that will enable us to take full advantage of the growth potential we see in the UK.”