Svenska Handelsbanken (OMX: SHB A) followed suit with its second quarter 2012 report released this morning. Operating profit rose in all home markets outside Sweden, where deposit margins were down. Net interest income of 6.58 billion was flat compared to last year as was total income of 8.84 billion. Since expenses also kept pace, operating profit of 4.5 billion and reported net profit for the period of 3.4 billion were very close to last year’s level. Quick growth in the United Kingdom, where Handelsbanken now has over 1000 employees and 129 branches is a highlight.
Analysts were almost spot on with the reported numbers that at most veered a little bit on the positive side. Handelsbanken has also been featured in the strongest 20 banks list and solidity and liquidity numbers show why. Tier 1 capital ratio rose to 19.4% and core tier 1 capital ratio to 16.8% while total liquidity reserve have been increased to over 750 billion SEK. Regarding today’s trading, Handelsbanken already advanced a little bit after the strong peer report from SEB.
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