Handelsbanken (SHB) investor relations material

Trading performance and revenue trends

• Volume growth in home markets remained subdued, as indicated by official statistics and market data.

• Lower policy rates since June have pressured transaction account deposit margins, though lending and term deposit rates can be adjusted to offset some effects.

• Q3 contains one more day than Q2, with a net day count effect estimated at SEK 30 million per day.

• FX movements across operating countries largely offset each other, resulting in modest net FX effects on both income and cost lines.

• Savings-related fees, which make up about two-thirds of commissions, are expected to benefit from a slight increase in daily average stock market indices in Q3 versus Q2.

Profitability and margins

• Net interest margin (NIM) sensitivity remains difficult to predict due to multiple influencing factors, and no specific guidance is provided.

• NFT income line remains minor and stable, with no significant Q3 events highlighted.

• No restructuring costs are guided for Q3, with previous cost initiatives considered largely complete.

Balance sheet and liquidity position

• CET1 ratio at the end of Q2 was 18.4%, 350 basis points above SREP, with ongoing review of the 50 basis point headroom to the target range.

• Ambition remains to move into a 100–300 basis point target range above SREP, but no specific timing is provided.

• No changes in balance sheet structure or funding activities; normal routines maintained for both short- and long-term funding.

• Two senior trades executed during the quarter, one in euros and one in U.S. dollars, following standard funding routines.