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Handelsbanken (SHB) investor relations material
Handelsbanken Pre-close call summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
The call served as a reminder of publicly communicated matters and aimed to help analysts with estimates and expectations ahead of the interim report, without providing new information or guidance.
Trading performance and revenue trends
Swedish mortgage volumes saw a slight pickup, while corporate lending growth remained muted; gradual volume increases noted in the UK and Netherlands, with Norway remaining flat.
Daily average stock market indices were up in Q1 compared to Q4, indicating a positive trend for savings-related fees.
NFT income line remains minor and stable, averaging SEK 500–600 million per quarter, with customer-driven NFT at SEK 400–500 million.
Profitability and margins
Lower policy rates negatively impact transaction account deposit margins, with effects typically filtering through in 1–2 quarters of flat rates.
Swedish krona strengthened against euro and sterling, creating a headwind for sequential NII development.
Q1 has two fewer days than Q4, with a net day count effect of SEK 20–30 million per day.
- Q4 2025 delivered 13% ROE, strong savings inflows, minimal credit losses, and robust capital.SHB
Q4 20254 Feb 2026 - Q2 2024 operating profit and ROE rose, with strong capital and ongoing efficiency gains.SHB
Q2 20243 Feb 2026 - Q3 2024 ROE rose to 15.6% as profit, capital, and asset inflows strengthened.SHB
Q3 202419 Jan 2026 - Record Q4 profit, robust capital, and SEK 15.00 dividend highlight strong performance.SHB
Q4 20248 Jan 2026 - Q1 2025 saw resilient income, strong capital, and improved efficiency despite lower profit.SHB
Q1 202521 Dec 2025 - Q1 impacted by FX headwinds, strong capital, and finalized efficiency initiatives.SHB
Pre-Close Call20 Dec 2025 - Margin pressure and FX headwinds persist despite gradual volume recovery and strong capital.SHB
Pre-Close Call17 Dec 2025 - Q2 profit SEK 7.2bn, ROE 13%, CET1 18.4%, costs down, lending and deposits up.SHB
Q2 20258 Nov 2025 - Operating profit up 8% in Q3 2025, with strong capital, liquidity, and credit loss reversals.SHB
Q3 202522 Oct 2025
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