Annual results confirm strong demand for local relationship banking
PUBLISHED: 16:30 07 February 2018 | UPDATED: 16:30 07 February 2018
Handelsbanken Cheltenham reports an encouraging start to the year, following strong 2017 annual results for the bank in the UK
Handelsbanken has credited another successful year of growth to the loyalty of its local branch customers. The Bank, founded in 1871, has published its full year 2017 annual results and reveals an 12 per cent rise in lending to British customers (Q4 ’17 vs Q4 ’16). Over this period, UK business lending increased 13 per cent, to £12.9 billion, while lending to personal banking customers rose 10 per cent, to £6.3 billion. UK customer deposits increased 27 per cent over the same period, to £13.4 billion.
Run by a team of 7 experienced local bankers, Handelsbanken Cheltenham is one of 208 British branches*, stretching from Inverness to Truro, Colwyn Bay to Canterbury. Handelsbanken puts this continuing growth down to a clear, long-term focus on customer satisfaction, prudent banking and cost efficiency. This local, customer-led approach has seen the Bank rated top for satisfaction and loyalty for the last nine years, in an independent annual survey of British banks’ personal and business customers**. This focus was also recognised in the government-backed Business Banking Insight survey***, published in November 2017, where Handelsbanken received the highest customer ratings across all sizes of SME designated by the survey.
Stephanie Hughston, manager of Handelsbanken’s Cheltenham branch commented: “These latest results demonstrate what can be achieved by ensuring customer satisfaction is paramount, through our local relationship banking model.”
Handelsbanken Wealth Management specialists across the Bank’s UK-wide branch network, combined with the investment services from the Bank’s subsidiary, Heartwood Investment Management, contributed to a 14 per cent increase in net fee and commission income last year. The year saw particularly strong growth in household deposits, up 39 per cent, while corporate deposits also increased by 22 per cent.
Mikael Sorensen, Handelsbanken’s UK CEO, comments: “This strong growth in deposits, particularly in household deposits, demonstrates that more and more of our customers view Handelsbanken as their main bank of choice. As we continue to mature in the UK, our branches strive to create deeper long-term relationships with existing customers, whilst continuing to forge relationships with new ones. The strong development of our deposit book is the natural outcome of this.”
Handelsbanken also reaffirmed its robust capital and liquidity positions and its low credit loss ratios, which have earned the Swedish-headquartered bank among the highest credit ratings of any international bank****. Handelsbanken was also named the world’s third safest commercial bank, by Global Finance magazine*****.
Businesses and individuals can contact Handelsbanken’s Cheltenham branch by calling 01242 224533 or visiting Westmoreland House, 80-86 Bath Road, Cheltenham GL53 7JT