Sweden · Delayed Price · Currency is SEK Svenska Handelsbanken AB Earnings Call Transcripts
Fiscal Year 2026
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Operating profit and ROE increased, driven by strong lending in the U.K. and Netherlands, while Swedish lending remained flat. Cost efficiency improved, credit losses stayed minimal, and a one-off VAT refund boosted results. CET1 ratio remains robust at 17.2%.
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Volumes in Swedish mortgages picked up while corporate lending stayed muted; CET1 ratio remains strong and funding activities are on plan. Policy and market rate impacts, fee trends, and regulatory costs were discussed, with no new guidance provided.
Fiscal Year 2025
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Q4 2025 saw modest profit growth, robust asset quality, and strong savings inflows, with ROE at 13% and cost discipline maintained. The CET1 ratio is well above regulatory requirements, and a SEK 17.50 per share dividend is proposed.
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Volumes in Swedish mortgages and select European markets are gradually improving, but margin pressure persists due to lower policy rates and FX headwinds. Capital remains strong, with a CET1 ratio well above requirements, and regulatory changes will impact risk and deposit requirements in 2025.
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Operating profit rose 8% sequentially, with improved cost efficiency and strong asset quality. Lending and savings volumes are growing in key markets, though NII faces margin pressure from lower rates. CET1 ratio remains robust, and management is optimistic about future lending demand.
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Volume growth remains subdued, with lower policy rates pressuring deposit margins but offset by rate adjustments elsewhere. CET1 ratio is strong, funding costs benefit from tight credit spreads, and no major changes in risk-weighted assets or funding strategy are expected.
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Q2 2025 saw operating profit of SEK 7.2 billion and ROE of 13%, with income down due to rate cuts and FX. Costs and credit losses remained well-controlled, and the CET1 ratio was robust at 18.4%. Lending growth is slow but positive, with efficiency gains and strong asset quality supporting outlook.
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Q1 2025 saw stable operating profit and 13% ROE, with resilient NII and fee growth offsetting policy rate cuts. Costs fell 7% year-over-year, improving efficiency, while asset quality and capital buffers remain strong amid macro uncertainty.
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Q1 saw subdued volume growth, FX headwinds for income, and seasonal cost reductions, with no new guidance provided. CET1 ratio remains strong and capital is fully hedged to currency movements. Efficiency initiatives and Finnish divestment were finalized.
Fiscal Year 2024
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Q4 2024 saw record operating profit and strong ROE, driven by efficiency gains and stable asset quality. The bank proposes a SEK 15 per share dividend, maintains a high CET1 ratio, and continues to focus on organic growth and cost discipline across all markets.
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Q3 2024 delivered higher ROE, improved cost-income ratio, and strong operating profit growth, supported by efficiency gains and net credit loss recoveries. The CET1 ratio remains robust, dividend accruals are high, and asset quality is stable, with continued strong customer satisfaction.
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Q2 2024 saw improved earnings, higher ROE, and a lower cost income ratio, driven by efficiency measures and strong asset quality. Segment performance was robust in Norway and Sweden, with continued focus on cost control and digital investments. CET1 ratio remains well above requirements.