16 Facts About Svenska Handelsbanken

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.

Svenska Handelsbanken is one of the major banks in Sweden with a nationwide branch network.

Since the mid 1990s Svenska Handelsbanken has been expanding its universal banking operations into the other Nordic countries, and in the United Kingdom and the Netherlands.

In October 2021 Svenska Handelsbanken announced that it will focus on its main markets Britain, Sweden and Norway and sell its operations in Finland and Denmark.

Svenska Handelsbanken began operating 1 July 1871 in rented space in the commercial and financial district in the central Old Town.

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In 1926, Malarebanken was fused into Svenska Handelsbanken, bringing the number of branch offices to 270, of which 28 in Stockholm.

Svenska 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.

Svenska 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.

Svenska Handelsbanken continued to expand by purchasing other banks in the 1940s and 1950s - Vanersborgsbanken, Norrkopings Folkbank, Lulea Folkbank and Gotlandsbanken.

When Svenska 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 Svenska Handelsbanken shares.

In 1970, Svenska Handelsbanken installed its first six automated teller machines, initially as a trial.

Svenska Handelsbanken was least affected of the major Swedish banks, and was able to expand its market share in the 1990s.

In 1997, Svenska Handelsbanken bought Stadshypotek, a major mortgage company, from the government.

In 1995, Svenska 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 .

In 1999, Svenska Handelsbanken decided to expand in the United Kingdom by organic growth.

On 19 October 2021 Svenska Handelsbanken announced that it will sell its operations in Finland and Denmark and exit the two markets.