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Handelsbanken UK posts 10% net lending growth

Martin Greenland | 13:20 Wednesday 6th February 2019

Handelsbanken UK has reported a 10% year-on-year rise in net lending to both individual and corporate customers to £20.3bn in 2018.

The specialist bank saw customer deposits rise by 11% to £13.8bn, with a strong growth in household deposits, up 22% to £4.6bn.

Corporate deposits also increased by 6% to £9.2bn in the same period.

In addition, the bank’s operating profits grew by 55% to £227.7m, while income increased by 14% to £558.3m.

“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,” said Mikael Sorensen, UK CEO at Handelsbanken.

“Through these relationships we aim to consistently deliver the highest levels of service possible, while doing our utmost to meet our customers’ specific banking needs.

“Our network of 208 branches, stretching from Inverness to Truro, Colwyn Bay to Canterbury, enables us to operate in this way.

“We are fully committed to branch-based, relationship banking, which we see as fundamental to our growth and success.”

Mikael added that the bank’s long-term commitment to the UK was reaffirmed by the creation of its UK authorised subsidiary in December.

“This was a natural next step for us in our development.

“We see lots of potential for growth in the UK and are excited to embark on this new journey, building a bank for the future.”

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