Handelsbanken reported full-year 2024 operating profit of SEK 35.0 billion, a 3.6% decline from the prior year, as the Swedish bank absorbed a 9% rise in expenses and lower net interest income as central bank policy rates fell. The results were published on 5 February 2025.
Return on equity for 2024 fell to 14.6% from 15.9% in 2023. Net interest income contracted 2% to SEK 46.8 billion over the twelve months, reflecting negative margin effects from lower central bank policy rates and lower business volumes. Operating expenses rose 9% over the same period.
LENDING AND BALANCE SHEET
In Sweden, average household lending decreased by 1% to SEK 967 billion in 2024, while total average lending in the home market fell 2%.
Total assets were SEK 3.54 trillion at the year end. The bank operates through a decentralised branch model that grants local managers considerable autonomy in lending and relationship decisions.
CAPITAL
Handelsbanken's Common Equity Tier 1 capital ratio remained stable year-on-year at 18.8%.
Efficiency measures cut total staffing by a net 6% from the first quarter.