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  7. CMA results Feb 2021

Handelsbanken tops CMA business banking survey for sixth time while strengthening distinct approach

15 February 2021

Local relationship bank, Handelsbanken, has retained its top-ranking position in three of the five categories identified by the Competition and Markets Authority’s (CMA) independent service quality survey for business banking. 

The Bank, which has maintained its strong focus on supporting local customers through the ongoing crisis, has today been named best for overall service quality (76%) for the sixth time, as well as coming top for relationship / account management (86%), and for SME overdraft and loan services (73%) (1).

Commenting on the results, Mikael Sorensen, UK CEO, says: “Our distinct model enables us to provide our customers with very high levels of bespoke customer service through the long-term, personal relationships we form with them. 

“Over the last 12 months, whilst much has changed, the direct contact our customers have with their branch teams has enabled us to continue working closely with each business or household, to provide bespoke solutions to their needs, both in the short and longer term.

“This year and beyond, we will be strengthening this approach by placing expertise and support closer to our branches thereby empowering them to offer our customers a tailored personal service coupled with enhanced digital solutions.”

The CMA’s ongoing independent service quality survey, most recently conducted from January 2020 to December 2020, is intended to help customers compare the quality of service offered by Britain’s 14 largest business current account providers. The survey looks at customers’ willingness to recommend a financial provider to other businesses based on factors such as their overall service quality and their online, mobile, lending and branch services.

With branches in local communities across the UK, Handelsbanken forms long-term, personal relationships with customers, through its distinct local relationship banking model. Customers have direct access to experienced branch teams who are empowered to make decisions locally, based on each customer’s specific needs and without product or sales targets. 

This formula has also, for the twelfth year in a row, led to Handelsbanken being top-ranked for satisfaction, for both personal and business banking, in an independent survey of British bank customers by EPSI Rating2.

All banks participating in the CMA’s independent service quality survey are required to display the latest results in their branches and on their websites. The survey is ongoing and the results are updated every six months, in August and February.

The survey interviews approximately 1,200 customers per provider across Great Britain each year. Results are only published where at least 100 customers have provided a score for a service in the survey period. 

- ENDS -

For more information please contact:

Mariana Wall, Corporate Communications

07483 036936

mariana.wall@handelsbanken.co.uk


Notes to editors

1 BVA BDRC, February 2021. For more information, please visit: https://www.bva-bdrc.com/products/business-banking-service-quality-great-britain/Opens in a new window.

2 EPSI Rating, September 2020. For more information, please visit - https://www.epsi-rating.com/wp-content/uploads/2020/09/EPSI-Rating-UK-Banking-2020.pdfOpens in a new window

For photos and logos, please visit: www.handelsbanken.co.uk/media

Handelsbanken is the trading name of Handelsbanken plc, which is incorporated in England and Wales with company number 11305395. Registered office: 3 Thomas More Square, London, E1W 1WY, UK. Handelsbanken plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 806852.

Handelsbanken plc is a wholly-owned subsidiary of Svenska Handelsbanken AB (publ).

In Sweden, Handelsbanken is one of country’s leading banks with approximately 725 branches across six home markets, and over 12,000 employees.

Handelsbanken was established in Stockholm in 1871 and has operated in the UK since 1982. The UK is one of Handelsbanken’s six “home market” countries, where the bank offers relationship banking to domestic market customers, the other countries being Sweden, Denmark, Norway, Finland and the Netherlands. 

In the UK, Handelsbanken is a relationship bank with a decentralised way of working, a strong local presence due to a nationwide network of branches and a long-term approach to customer relations. Handelsbanken specialises in providing personalised and competitive banking services to both businesses and individuals, as well as wealth and investment management services through its UK subsidiary Handelsbanken Wealth & Asset  Management. Each Handelsbanken branch operates as a small business enabling it to make decisions at a local level and provide a service that is bespoke. The focus is always on the need of the individual customer and not on the sale of specific products, hence neither the bank nor its wealth and asset management subsidiary offers its staff bonuses.