|Bid||99.98 x 0|
|Ask||100.05 x 0|
|Day's Range||99.44 - 101.00|
|52 Week Range||92.84 - 118.35|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||11.48|
|Forward Dividend & Yield||5.50 (5.50%)|
|1y Target Est||104.11|
Sweden's Handelsbanken said it had converted its British branch into a subsidiary that would operate as a standalone business, helping to shield the bank from any potentially disruptive Brexit next March. Britain's parliament is due to vote on Dec. 11 on its divorce settlement and transition deal with the European Union ahead of the country's departure from the bloc next March. An independently capitalised subsidiary in Britain could operate as a standalone business, and be better insulated from any disruption in cross-border links than a branch linked to a parent in another country.
Sweden's Handelsbanken (SHBa.ST) said on Wednesday it planned to cut at least 1,600 jobs over the coming four years as it reported third-quarter operating profit slightly above market expectations on the back of lower-than-anticipated loan losses. Handelsbanken, which employs about 12,500 staff, said in a statement it would be cutting the jobs as part of an efficiency programme as the bank continues to digitalize its operations. Operating profit in the quarter fell to 5.34 billion Swedish crowns (455.98 million pounds) compared to a year-ago 5.42 billion, beating a mean forecast of 5.26 billion seen in a Reuters poll of analysts.
Sweden's Financial Supervisory Authority said on Wednesday it had decided to hike part of the capital buffer lenders must hold to 2.5 percent of risk-weighted assets, due to increased risks in the banking system. "One indication that the risks in the financial system have increased is that the combination of low interest rates and low risk premiums," the FSA said in a statement. The FSA last raised the buffer - which moves up and down over time in relation to the perceived level of risk in the banking system - in March 2016 when it increased to 2 percent.
The biggest Nordic bank is considering taking on the European Union’s top markets regulator after being handed a fine for providing credit ratings without a license. Nordea Bank AB, together with four other major Nordic banks, was called out by the European Securities and Markets Authority for selling so-called shadow ratings to corporate clients without permission. Nordea said on Monday that it discontinued shadow ratings in 2016, “although we disagree with ESMA” on the interpretation of the rules.
Concerns around trade tariffs sent European shares tumbling to a two-week low on Thursday as the U.S. prepared to announce hefty tariffs on Chinese imports. U.S. President Trump is expected to sign a presidential memorandum on tariffs targeting $60 billion of Chinese imports, at 1630 GMT. Investors were also eyeing a European Council meeting, with the European Union aiming to secure an exemption from U.S. tariffs on steel and aluminium imports set to come into force on Friday.
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.