Svenska Handelsbanken’s (OMX: SHB A) operating profit easily toppled 4 billion kronor for second quarter of 2011. EPS grew 7 percent compared to Q1, net interest income by 3 percent and loan loss ratio fell slightly. The company says there is increased demand for corporate credits although it does not yet constitute a trend. Return on equity was 14%.
Handelsbanken claims to be Europe’s most cost-effective bank and aims to maintain long-term solid cash flow. Total expenses were up 3% from 2010 in H1. The bank maintained over 600 billion kronor in liquidity reserve and its Basel II Tier 1 capital ratio rose to 17.4%. The bank’s A share inched its way up three percent for the day. Full interim report is here.
No comments:
Post a Comment