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.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
84% would change financial services provider due to poor complaints experience
More than eight out of 10 customers (84%) claim that they would change financial services provider due to a poor complaints experience, according to the latest research...
City of London Group posts £3.6m pre-tax loss after absorbing banking licence costs
City of London Group PLC (COLG) has reported a pre-tax loss of £3.6m for the year ended 31st March 2019 after absorbing £1.7m of costs associated with applying for a UK banking licence and acquisition of Acorn to Oaks Financial Services Limited...
Redwood Bank appoints two new BDMs
Redwood Bank has appointed Dan Carter (pictured above, left) and Sue Young (right) as BDMs...
Sainsbury’s Bank updates residential and BTL mortgage ranges
Sainsbury’s Bank has updated its residential and BTL mortgage ranges...
Gatehouse Bank names new HR business partner
Gatehouse Bank has appointed Amy Lloyd (pictured above) as its new HR business partner...
Cynergy Bank aims to grow loan book up to £6bn by 2022
Cynergy Bank plans to grow its loan book to between £5bn-£6bn by 2022...
When uncertainty lends itself to opportunity
With £5.5bn of lending and rates pushed low, the second half of 2018 may have looked like an unusual time to launch a new lender into the bridging market...
Starling Bank partners with CreditLadder
Starling Bank has partnered with rent recognition platform CreditLadder to help its customers improve their credit score and get on the property ladder...
Paragon reduces rates on second charge mortgage range
Paragon has reduced the interest rates on its second charge mortgage products...
Hanley Economic BS launches RIO mortgage range in Scotland
Hanley Economic Building Society has launched its range of retirement interest only (RIO) mortgages in Scotland following feedback from its Scottish intermediary partners...
allpay.cards named as card provider for new mobile business banking service
Card manufacturer and bureau allpay.cards has revealed that it will provide the cards for the new Amaiz mobile business banking service...