Handelsbanken (SHB) Pre-Close Call summary

Executive summary

• Call focused on reiterating publicly available information and clarifying expectations ahead of the interim report, with no new guidance or undisclosed data shared.

• Discussion included regulatory changes, capital position, and general trends in volumes, margins, and costs.

Trading performance and revenue trends

• Swedish mortgage volumes picked up slightly in October, while corporate lending growth remains muted.

• Gradual volume increases observed in the UK and Netherlands; Norway remains flat.

• Lower policy rates in Q3 have pressured transaction account deposit margins.

• Strengthening of the Swedish krona is expected to be a headwind for sequential NII development.

• Stock market indices up in Q4 vs Q3, supporting savings-related fee income.

Profitability and margins

• No specific guidance on net interest margin due to multiple influencing factors; no one-off effects noted in the previous quarter.

• No day count effect expected in Q4 NII.

• Minor NFT income line remains stable, with no significant Q4 volatility.