Handelsbanken has reported that its UK lending rose to £20.1bn between January and September 2018, up 11% on the same period last year.
The bank – which has over 200 branches across the UK – saw household lending rise 7% to £6.5bn, while corporate lending grew by 13% to £13.6bn.
UK deposits also rose by 12% to £13.5bn with household deposits rising by 25% and corporate deposits increasing by 6%.
Meanwhile, Handelsbanken’s UK operating profits grew by 18% to £171.6m.
Mikael Sorensen, UK CEO at Handelsbanken, said it was currently investing in creating a UK subsidiary that would enable it to take full advantage of the growth potential it was seeing in the UK.
“We are building a bank for the future that will combine our branch-based model with compelling digital solutions, ensuring that we continue delivering the excellent service customers have come to expect of us.
“The investments we are currently making in these areas will strengthen our foundations for future growth and enable us to take full advantage of the growth potential we see in the UK market.”
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...