Local relationship bank, Handelsbanken, has reported consistent year-on-year growth in its 2019 annual results, which the firm says is driven by ongoing commitment to long-term sustainable values, and a focus on delivering high levels of customer satisfaction.
In its first year as a fully-licensed UK bank, Handelsbanken has continued to invest in its UK infrastructure. Meanwhile the Bank’s commitment to its local relationship banking model has helped branches like Handelsbanken Lincoln achieve consistent and profitable growth throughout the year.
This has meant that, for 2019, the Bank’s UK business reported 5 per cent growth in net lending to both individual and corporate customers to £21.4bn, with customer deposits rising 10 per cent to £15.3bn.
The Bank saw particularly strong growth in corporate deposits, up 14 per cent to £10.5bn, while household deposits also increased by 4 per cent to £4.8bn. Operating profit increased by 4 per cent to £222.8m and income increased by 4 per cent to £582.3m.
Run by a team of 9 local bankers, performance at Handelsbanken Lincoln “mirrored” that of the wider bank across the UK.
John Gell, branch manager of Handelsbanken’s Lincoln, said: “Locally in Lincoln we mirror the performance of the wider bank in the UK despite facing a number of hurdles in 2019, we continue to grow by gaining customers with stable cash flows who want a long-term relationship with their bank.”
Mikael Sorensen, UK CEO, says: “2019 was an exciting year in the development of Handelsbanken, marking our first full year as a UK licensed bank. Over the course of the last year we have continued to consolidate our business, investing further in developing the systems, infrastructure and expertise that have helped us build the foundations for future growth.
“Maintaining consistent growth in our business volumes, whilst undergoing this period of change demonstrates the strength of Handelsbanken’s local relationship banking proposition, and is testament to the hard work and unwavering commitment of our colleagues up and down the country.
“The investments we are making in our business mean we are now in an even stronger position to take full advantage of the strong growth potential we see in the UK. We have been here for almost four decades, but the truth is we are only just getting started. We look forward to providing our services to more and more customers who share our long-term thinking and sustainable values.”