|Bid||108.65 x 0|
|Ask||108.75 x 0|
|Day's Range||115.45 - 117.25|
|52 Week Range||107.50 - 131.20|
|PE Ratio (TTM)||14.22|
|Forward Dividend & Yield||0.52 (4.45%)|
|1y Target Est||115.95|
Sweden's Handelsbanken (SHBa.ST) reported fourth-quarter profit below expectations on Wednesday as loan losses stemming from the collapse of British construction and services group Carillion (CLLN.L) weighed heavily on results. Handelsbanken, one of Sweden's biggest mortgage lenders, is still a niche player in the UK but has been expanding steadily there and Britain now accounts for 13 percent of the group's revenue. While growth in Britain contributed positively, the earnings miss was wholly attributable to credit losses, and more than half of the group's total loan losses, 556 million crowns, were booked in its British business.
Handelsbanken Chairman Par Boman said on Tuesday that prosecutors are investigating whether he received bribes related to hunting trips but Boman denied any wrongdoing. The trips occurred when he was chief executive officer of the Swedish bank between 2006 and 2015. Boman said the suspicions were groundless and that he would cooperate fully with the prosecutor.
Sweden's government will draft a new bank tax proposal after scrapping its initial plan, but it is unclear if the new bill will be ready before the 2018 election, Finance Minister Magdalena Andersson said on Saturday. The centre-left minority government said on Friday it had decided to scrap an earlier proposal for a payroll tax on financial services, commonly known as a bank tax, after criticism that it would hit many more companies than originally intended. The government said that the new proposal would be more narrowly directed at the banks but that it would take time to compile as the European Union would have to weigh in on whether the new draft is in compliance with state aid regulations.