Svenska Handelsbanken AB is a Swedish bank providing banking services including traditional corporate transactions, investment banking and trading as well as consumer banking including insurance.
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17 Facts About Handelsbanken
2.
Handelsbanken is one of the major banks in Sweden with a nationwide branch network.
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3.
Since the mid 1990s Handelsbanken has been expanding its universal banking operations into the other Nordic countries, and in the United Kingdom and the Netherlands.
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5.
Handelsbanken began operating 1 July 1871 in rented space in the commercial and financial district in the central Old Town.
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Sweden Nordic countries United Kingdom Netherlands Denmark Finland Norway Stockholm Ivar Kreuger6.
In 1926, Malarebanken was fused into Handelsbanken, bringing the number of branch offices to 270, of which 28 in Stockholm.
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7.
Handelsbanken had however been cautious in their relation to Ivar Kreuger and his financial empire so it was not much affected by the Kreuger crash following Kreuger's death in 1932.
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8.
Handelsbanken did however expand its ownership in Svenska Cellulosa Aktiebolaget as a result of the crash.
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9.
Handelsbanken was named Industrivarden, and after the bank's shareholders had been given the opportunity to acquire shares in the holding company, it was listed on the Stockholm Stock Exchange in 1945.
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10.
Handelsbanken continued to expand by purchasing other banks in the 1940s and 1950s - Vanersborgsbanken, Norrkopings Folkbank, Lulea Folkbank and Gotlandsbanken.
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11.
When Handelsbanken meets its goals of higher return on equity than the average of the other listed Swedish banks, a profit share is paid to a foundation named Oktogonen, which keeps its fund entirely in Handelsbanken shares.
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12.
In 1970, Handelsbanken installed its first six automated teller machines, initially as a trial.
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13.
Handelsbanken was least affected of the major Swedish banks, and was able to expand its market share in the 1990s.
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14.
In 1997, Handelsbanken bought Stadshypotek, a major mortgage company, from the government.
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15.
In 1995, Handelsbanken acquired the vast majority of the credit and financing portfolio of the former Finnish bank SKOP Bank, as well as SKOP's holdings in the Industrialization Fund of Finland Ltd .
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16.
In 1999, Handelsbanken decided to expand in the United Kingdom by organic growth.
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