Handelsbanken, the local relationship bank, has today announced its Q3 results (1), showing consistent growth driven by the Bank’s focus on delivering high levels of customer satisfaction, through its decentralised network of over 200 branches.
2019 has seen Handelsbanken continue to invest in building strong foundations since it became a UK licensed bank in December last year. Through this period, the Bank’s local relationship banking model, which places an overwhelming focus on customer service, has helped branches achieve consistent profitable growth, supporting local individuals and businesses across the country.
Summary of the Q3 January – September 2019 figures compared to Q3 January – September 2018 figures:
UK deposits up 11% to £15bn: corporate deposits up 15% to £10.3bn; household deposits up 4% to £4.7bn
UK lending up 6% to £21.3bn: corporate lending up 8% to £14.7bn; household lending (largely mortgages) is up 2% to £6.7bn
UK income increased by 5% to £433.3m
Mikael Sorensen, UK CEO, says: “We continue down our path of investing in and building the foundations for our future growth in the UK. We also continue to deliver consistent quarterly growth, achieved through our distinctive branch-based model.
“Our most recent results are a true testament to the hard work and dedication of our branches, through which our customers receive a face-to-face, personal service from our branch colleagues who are empowered to make everyday banking decisions.
“Delivering the best possible service to our customers is central to our model. Whilst we believe it is important to give our customers choice in how they interact with us, whether that is via telephone, digital or app-based banking, our branches will always remain the cornerstone of our relationship with customers.
“We see ongoing demand for local relationship banking and look forward to delivering high levels of customer service to more individuals and businesses across the country.”
Most satisfied customers for 11th year in a row
In September this year, Handelsbanken’s distinctive branch-based model led the Bank to being ranked top for customer satisfaction, for the eleventh year running, in an independent survey of UK banking customers(2).
In August 2019, Handelsbanken was named the most recommended provider for SME banking by the Competition and Markets Authority’s Independent Service Quality Survey. Handelsbanken was ranked first out of 14 providers in four out of the five categories in the survey(3).
Handelsbanken plc, the official name of 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.
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For more information please contact:
Mariana Wall, Corporate Communications UK
020 7578 8198 / 07483 036 936