Handelsbanken (SHB) Q2 2026 earnings summary

Executive summary

• Q2 2026 operating profit was SEK 6,678m, with ROE at 12.8%–13% and robust asset quality.

• Business growth was strong in the UK and Netherlands, with stable NII and expenses.

• Fee and commission income reached near all-time highs, driven by savings business.

• The bank maintains a prudent, customer-focused model and robust financial position.

• Anticipated dividend of SEK 4.77 per share for H1 2026, representing 82% of net profit.

Financial highlights

• Q2 income was SEK 13.5bn, expenses SEK 6bn, cost/income ratio 44.3%.

• Net interest income for Q2 was SEK 10,008m, stable sequentially; down 10% year-over-year for H1.

• Fee and commission income grew 9% year-over-year in Q2 and 8% in H1, led by savings business.

• Credit loss ratio was 0% in Q2 and 0.01% for H1.

• Operating profit declined 19% sequentially and 6% year-over-year after adjustments.

Outlook and guidance

• Management remains optimistic about future corporate business growth and increased customer activity.

• No plans for geographic expansion; focus remains on organic growth in current home markets.

• CET1 ratio buffer maintained at 250 bps (2.5 percentage points) above regulatory minimum.

• Moody’s upgraded Baseline Credit Assessment to A1, among the highest globally.

• New PD models and sovereign exposure changes expected to have a net neutral effect on capital in Q3 2026.