Handelsbanken Outlines Extensive Strategic Plan as Net Profit Falls
23 Octubre 2019 - 2:12AM
Noticias Dow Jones
By Dominic Chopping
STOCKHOLM--Svenska Handelsbanken AB (SHB-B.SK) on Wednesday
posted a 13% fall in third-quarter net profit as it laid out a
comprehensive strategic plan.
Net profit at the Sweden-based bank in the period fell to 3.57
billion Swedish kronor ($370 million) from SEK4.11 billion a year
earlier.
Third-quarter net-interest income at the bank rose to SEK13.43
billion from SEK12.8 billion, it said.
Handelsbanken's common equity Tier 1 ratio, a measure of
financial strength, fell to 17.4% at the end of the quarter from
21.7% a year earlier.
The bank is working through a complete revamp, aiming to
concentrate the business on a number of core areas to create
conditions for long-term, sustainable profit growth.
In addition to previous measures, such as discontinuing certain
products and services in areas where it has limited market
potential, low earnings or elevated risk, the bank said it will
concentrate its presence outside the six home markets to branches
in Luxembourg and New York.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 23, 2019 02:57 ET (06:57 GMT)
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