Handelsbanken annual results reaffirm strong ongoing demand for local relationship banking

Pictured: Di Pitts
180209 HDB Di Pitts188

Handelsbanken Cirencester reports an encouraging start to the year, following strong 2018 annual results.

Handelsbanken has credited another successful year of growth to the loyalty of its local customers. The local relationship bank with over 200 branches across the UK, has published its full year 2018 annual results revealing a 10 per cent year-on-year increase in lending to customers. Over this period, business lending rose 12 per cent, to £13.7bn, while lending to personal banking customers rose 7 per cent, to £6.5bn. Customer deposits increased 11 per cent to £13.8bn.

The results are the first to be announced since the launch of the Bank’s UK subsidiary in December – a natural next step in Handelsbanken’s development in the UK, where it has operated since 1982 and to which it is committed for the long term.

Run by a team of six experienced local bankers, Handelsbanken Cirencester is one of 208 branches in the UK, stretching from Inverness to Truro, Colwyn Bay to Canterbury. Handelsbanken puts its ongoing growth down to a clear, long-term focus on customer satisfaction, prudent banking and cost efficiency.

This local, customer-led approach has led to the Bank topping recommendations for its services in four of the five categories of the Competition and Markets Authority’s independent service quality survey for business banking, the results of which were published for the first time in August 2018. It has also seen Handelsbanken rated top for satisfaction and loyalty for the last ten years in a row, in an independent annual survey of British banks’ personal and business customers.

Di Pitts, branch manager of Handelsbanken’s Cirencester comments: Our continual profitable growth in the UK has been achieved through our primary focus of satisfying our customers. We achieve this by offering first class service, competitive products and by always providing the best advice for the customer, untainted by sales targets or bonus incentives. This brings us close to our customers and enables us to build strong, lasting relationships, and this is simply underlined with the recent creation of our UK subsidiary, meaning we will be here for customers whatever the political landscape may look like.

2018 saw particularly strong growth in household deposits, up 22 per cent, while corporate deposits also increased by 6 per cent.

Mikael Sorensen, Handelsbanken’s UK CEO, comments: “Our continued growth demonstrates ongoing appetite for our distinctive banking model which is based on the development of long term, personal relationships with our customers. Through these relationships we aim to consistently deliver the highest levels of service possible, whilst doing our utmost to meet our customers’ individual banking needs.

“Our network of 208 branches enables us to operate in this way. We are fully committed to branch-based, relationship banking, which we see as fundamental to our ongoing growth and success.

“Following the launch of our UK subsidiary in December, we are excited to be embarking on a new journey, serving more and more customers and building a bank for the future.”

Businesses and individuals can contact Handelsbanken’s Cirencester branch by calling 01285 650262 or by visiting 301 Cirencester Business Park, Love Lane, Cirencester GL7 1XD

Handelsbanken’s UK subsidiary has been assigned a long term credit rating of AA with a stable outlook by international credit ratings agency, Fitch; and a long term credit rating of AA- by Standard & Poor’s. The ratings are the same as those given for the subsidiary’s Swedish parent, Svenska Handelsbanken AB (publ) and confirm the Bank’s strength, stability and creditworthiness.

For more information please contact:

Di Pitts – Branch Manager

301 Cirencester Business Park

Love Lane, Cirencester, GL7 1XD

Tel: 01285 650262