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.
Showing posts with label SHB. Show all posts
Showing posts with label SHB. Show all posts
Tuesday, 17 July 2012
Saturday, 28 April 2012
Handelsbanken reports, presents new macro forecast
Large Swedish bank quarterly reports continued with Svenska Handelsbanken (OMX: SHB A) on Thursday. Income increased to 8.8 billion where as operating profit for continuing operations grew by 16% to 4.57 billion SEK. The bank is far above any perceived upcoming stricter capital requirements at 19.1% Tier 1 Capital ratio and 16.4% Core Tier 1 Capital ratio. The share responded with a small minus on Thursday but took back those losses on the heels of an UBS upgrade on Friday.
On Friday the bank also posted a new macro forecast. The expectations for BRIC were adjusted upwards where as PIGS countries are seen as weaker still. The feeling in it is that more monetary stimulus is needed to jumpstart economic growth. Signs of credit easing from China are visible, which should lead to more imports, and hard-landing concerns seem to be easing. Spain is seen as the problematic part. While the Swedish slowdown is likely coming to an end, no strong drivers to return to rapid growth seem visible.
On Friday the bank also posted a new macro forecast. The expectations for BRIC were adjusted upwards where as PIGS countries are seen as weaker still. The feeling in it is that more monetary stimulus is needed to jumpstart economic growth. Signs of credit easing from China are visible, which should lead to more imports, and hard-landing concerns seem to be easing. Spain is seen as the problematic part. While the Swedish slowdown is likely coming to an end, no strong drivers to return to rapid growth seem visible.
Friday, 27 January 2012
Largest companies in Stockholm stock exchange
Newspaper Dagens Industri noted the fact that after a poor fourth quarter performance and subsequent fall in the stock price, Ericsson has dropped out of the podium when the largest companies in Swedish stock exchange are listed. Engineering firm Alfa Laval rises to replace it at number 3. Clothing retail giant H&M is far ahead of the field with Nordea Bank coming in at number 2.
Top 10 consists of mainly banks and engineering companies. Firms that have their primary listing elsewhere such as AstraZeneca and ABB aren't included. Here is the current list as compiled by the newspaper (market cap in SEK/billions, excluding unquoted shares such as H&M class A):
1. H&M 327,3
2. Nordea Bank 239,8
3. Atlas Copco 199,2
4. Ericsson 198,8
5. TeliaSonera 196,5
6. Volvo 194,2
7. Sandvik 125,9
8. Svenska Handelsbanken 126,4
9. Swedbank 114,3
10. Skandinaviska Enskilda Banken 95,3
Top 10 consists of mainly banks and engineering companies. Firms that have their primary listing elsewhere such as AstraZeneca and ABB aren't included. Here is the current list as compiled by the newspaper (market cap in SEK/billions, excluding unquoted shares such as H&M class A):
1. H&M 327,3
2. Nordea Bank 239,8
3. Atlas Copco 199,2
4. Ericsson 198,8
5. TeliaSonera 196,5
6. Volvo 194,2
7. Sandvik 125,9
8. Svenska Handelsbanken 126,4
9. Swedbank 114,3
10. Skandinaviska Enskilda Banken 95,3
Wednesday, 20 July 2011
Svenska Handelsbanken Q2 2011
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.
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.
Friday, 15 July 2011
Nordic banks pass stress tests
European Banking Authority has published results of the 2011 EU-wide stress tests for 90 banks in 21 countries. All 10 Nordic banks involved in the latest stress tests passed comfortably. They were Nordea Bank (OMXS: NDA, OMXH: NDA1V), Skandinaviska Enskilda Banken (OMX: SEB A, STO: SEB C), Svenska Handelsbanken(OMX: SHB A) and Swedbank(OMX: SWED) from Sweden, Danske Bank (OMX: DANSKE), Jyske Bank (OMX: JYSK), Nykredit Bank and Sydbank (OMX: SYDB) from Denmark, DNB NOR (OSE: DNBNOR) from Norway and Pohjola Bank (HSE: POH1S) as a part of OP-Pohjola group from Finland.
Eight banks were below 5% Core Tier 1 T capital threshold and sixteen banks between 5% and 6% CT1R. EBA is formally recommending national supervisory authorities to require those banks under 5% CT1R to promptly remedy capital shortfall. Those failing the tests were all small banks. Five of them are in Spain, two in Greece and one in Austria.
While stricter than the tests last year, these tests have been also been blamed too soft and authorities are worried markets will view the fact that the tests do not include Greek default provision as a reason to panic. Also some have worried about the great detail that banks are revealing about their specific exposures to provide bad incentives. More information is available here.
Eight banks were below 5% Core Tier 1 T capital threshold and sixteen banks between 5% and 6% CT1R. EBA is formally recommending national supervisory authorities to require those banks under 5% CT1R to promptly remedy capital shortfall. Those failing the tests were all small banks. Five of them are in Spain, two in Greece and one in Austria.
While stricter than the tests last year, these tests have been also been blamed too soft and authorities are worried markets will view the fact that the tests do not include Greek default provision as a reason to panic. Also some have worried about the great detail that banks are revealing about their specific exposures to provide bad incentives. More information is available here.
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