Local relationship bank Handelsbanken reports record UK annual results

Handelsbanken East Sussex reports increase in overall deposits and operating profits for the Bank.

Local relationship bank Handelsbanken is today reporting its best ever UK annual results for 2023. Following a year that has seen a challenging economic backdrop both at home and abroad, Handelsbanken’s relationship-driven model and emphasis on customer satisfaction has proved resilient, with the bank posting its highest ever income, best ever operating result, and highest return on equity to date. Results before credit losses were up by 59% year-on-year to a record £480m, and the overall deposit book has increased. Total income also increased 32% to £918.2m.

Run by a team of 21 local bankers, Handelsbanken East Sussex forms long-term, personal relationships with people and businesses in the East Sussex area, working closely with local customers to meet their financial needs, both in the short and longer term.

Simon Nicholson, branch manager of Handelsbanken’s East Sussex branch said: “Our record results reflect both the success of our unique business model, and our never-ending commitment to customer satisfaction and cost control.

“We are continuously investing in digital services to meet a clear customer demand. At the same time, as a relationship bank we also know our customers value the opportunity to discuss their banking and wealth-management needs, face to face, with people who know their financial aspirations inside-out – and have their best interests at heart..

“Coupled with the fact that we have never used short-term incentives like sales targets or bonuses, but empower our colleagues to make the right decisions for their customers, this has enabled us to build long-term relationships based on the sustainable values of trust, respect and financial strength.

“We have always believed there is demand for our relationship approach and you need only look at the numbers to see whether we are right. Not only are we able to post record results today, we also remain Europe’s safest commercial bank , top of the independent CMA Business Banking survey for relationship banking,  and  rated highest for customer satisfaction for the 15th year in a row, according to the EPSI ratings group .

We realise that the economic landscape is changing, but as we move into the next financial year we are confident that our very strong position means we will be able to support our customers and help them to thrive, come what may.”