Q1 2024
(Q4 2023)

• Operating profit was SEK 8,267m (9,057).
• Return on equity was 13.7% (15.2).
• Earnings per share amounted to SEK 3.33 (3.66).
• The C/I ratio was 42.2% (38.4).
• The credit loss ratio was -0.01% (0.00).
• The common equity tier 1 ratio was 18.8% (18.8).

• Operating profit was SEK 8,267m (8,516).
• Return on equity was 13.7% (15.0).
• Earnings per share amounted to SEK 3.33 (3.44).
• The C/I ratio was 42.2% (38.5).
• The credit loss ratio was -0.01% (0.01).
• The common equity tier 1 ratio was 18.8% (19.4).

In a quarter marked by expenses rising more quickly than income, we are naturally far from satisfied. This outcome spurs us work even more focused with a resolute change work at a higher pace. Expenses tied to business support operations will also be moved closer to the business decisions, and we strengthen and extend the decentralised responsibilities for enforcement of efficiency improvements. 

Net interest income has been negatively impacted by narrowing margins. Nonetheless, our branches have successfully leveraged the Bank's strength to retain, develop and attract new customers. We also note good growth within the savings business and Private Banking. This demonstrates the branches' capacity to operate effectively and efficiently, in very competitive segments.

As a consequence of the ongoing weak development of our Norwegian operations, we have after a review decided on a strategic refocus.

Staff costs are rising. However, part of the increase is due to additional recruitments in the branch operations, which bears witness to increasing customer and business activity.

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The slide presentation for today's press conference will be available at 06:30 a.m. CET

at handelsbanken.com/ir

For further information, please contact:

Michael Green, President and Chief Executive Officer

Tel: +46 (0)8 22 92 20

Carl Cederschiöld, CFO

Tel: +46 (0)8 22 92 20

Peter Grabe, Head of Investor Relations

Tel: +46 (0)70 559 11 67, peter.grabe@handelsbanken.se

This information is of the type that Handelsbanken is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 06:30 a.m. CET on 24 April 2024.
 

For more information about Handelsbanken, please go to: handelsbanken.com