The Swedish Handelsbanken continues expansion into the Netherlands. With € 27.6 million, the Dutch division booked nearly 4% more profit in 2018, according to the annual figures of the Scandinavian bank.
Revenues in the Netherlands rose by 10%, to € 83.6 million. Handelsbanken now has 29 offices in the Netherlands, where 307 employees are active. This also increased costs by 15% to € 57.6 million. The total loan portfolio increased 20% last year to € 4.419 billion.
In addition to companies, more and more individuals are finding their way to the Swedish bank. Private savings and deposits rose by 45% last year to € 132 million, while lending to private individuals grew by 23% faster than loans to companies.
The Handelsbanken, which was founded in 1871 and has been listed since 1873, is active in the Netherlands for twelve years. Outside Scandinavia, only the Netherlands and Great Britain are identified as home countries for ‘local relationship banks operating in 22 countries. Jens Wiklund, CEO of Handelsbanken Nederland, says in 2019 to continue investing in further expansion.