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Handelsbanken reports 6% surge in UK lending

Theo Osborn | 15:03 Wednesday 17th July 2019

Handelsbanken has reported a 6% increase in UK lending to £21.4bn in Q2 2019, compared with Q2 2018.

The bank has seen UK deposits increase by 10% to £14.8bn, with corporate deposits up 13%, while household deposits witnessed a 4% growth in the same period.

This follows the launch of its UK subsidiary, which was granted permission for a UK banking licence in November 2018.

UK operating profits were up 5% to £108.1m in the quarter, while its income rose by 6% to £287m in H1 2019 compared with H1 2018.

Mikael Sorensen, UK CEO at Handelsbanken, said: “As we build our bank for the future, another strong set of results in Q2 reinforces the irreplaceable value of our branches. 

“Through our branches, customers can speak to their trusted local account manager about their finances, but they, of course, also have the option to self-serve, via our many digital services should they prefer to do that. 

“We are currently investing in our UK business, building capabilities and further capacity to embark on the next stage of our growth. 

“At the heart of this evolution remains a firm commitment to our distinctive branch-based model, which allows us to deliver the personal relationship banking and high levels of customer service that our customers have become accustomed to. 

“We continue to see a demand for our distinctive way of banking and today’s Q2 results evidence this.”

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