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Svenska Handelsbanken AB is a Swedish bank providing universal banking services including traditional corporate transactions, investment banking and trading as well as consumer banking including life insurance.
Handelsbanken is one of the major banks in Sweden with over branches. Since the mid s Handelsbanken has been expanding its universal banking operations into the other Nordic countriesand also in the United Kingdom, the Netherlands, Latvia, Estonia and Lithuania.
The largest of these is in Britain where, as of Aprilit has branches. Stockholms Handelsbank "Stockholm Commerce Bank" was created in early by several large corporations and leading Stockholm residents.
The bank's first year was quite successful and soon, it was one of the city's leading financial institutions, functioning as a bank for businesses and also as an issuer of bonds. Inthe shares in Handelsbanken were listed on Improvize - Земляне - Концерт В ДК Им. Орджоникидзе. 1974 (Lathe Cut) Stockholm Stock Exchange. Inthe bank entered into a crisis due to considerable losses, but was able to pull through.
It also developed contacts with many leading foreign banks and financial institutions, which led to the buildup of trading activities in foreign currencies. From toStockholm's Handelsbank bought several smaller Swedish regional banks, and was in a short time transformed from a purely Stockholm-based bank to a bank with a large number of branch offices This Little Voice - A.C.
Reed - Im In The Wrong Business! in and in throughout Sweden, in particular central and northern Sweden. Following the post—World War I recessionSweden experienced deflationwhich caused considerable problems for the financial sector. The worldwide depression following the Wall Street Crash of led to reduced profits, and problems for borrowers resulted in the bank taking over stock in several industrial companies to secure their loans. Handelsbanken had however been cautious in their relation to Ivar Kreuger and his financial empire so it was not much affected by the Kreuger crash following Kreuger's death in In the to period, new branch offices were opened, many of these in the newly built suburbs of Stockholm, in order to increase the number of customers and to expand deposits.
Towards the end of the s, the Swedish society saw increased socialist sentiments, just like many other European countries. This was particularly strong among students and other youth, and banks Børnelokker - Svedbanken - Svedbanken industrialists in general were portrayed in a very negative way.
During this time, Handelsbanken was also the subject of specific criticism from media and authorities, including foreign exchange transactions in that contravened regulations. Wallander had a Babylon - Chroming Rose - Garden Of Eden as an economic researcher who had later become CEO of Sundsvallsbanken, a regional bank in northern Sweden.
Under Wallander's leadership, many changes were introduced which have continued to be characteristic of Handelsbanken since that time. During —, Handelsbanken created eight regional banks with a high degree of independence, to which the branch offices belonged. Much of the decision making was decentralised to the local and regional level, and the financial management and control system was overhauled, by focusing more on reporting and less on central budgeting.
The new organisation focused on achieving profitability rather Børnelokker - Svedbanken - Svedbanken on volume growth, which had been the case in the s and s. Ina particular form of profit sharing scheme was introduced.
When Handelsbanken meets its goals of higher return on equity than the average of the other listed Swedish banks, a profit share is paid to a foundation named Oktogonen, which keeps its fund entirely in Handelsbanken shares. Payment only takes place after retirement, which means that all employees are interested Børnelokker - Svedbanken - Svedbanken securing the long-term profitability of the bank.
Oktogonen owns around 10 per cent of Handelsbanken's shares. InHandelsbanken installed its first six automated teller machines ATMsinitially as a trial. Inmany aspects of the Swedish financial sector were deregulated which led to a considerable credit expansion in the following years. Handelsbanken's volume of loans doubled in three years in the end of the s. InSweden entered a severe financial crisis, which was compounded by the credit expansion of the late s and a financial bubble related to real estate prices.
Many of the Swedish banks were hit hard by this crisis and had to be rescued by the governmentwhich led to some of the banks being temporarily nationalised. Handelsbanken was least affected of the major Swedish banks, and was able to expand its market share in the s.
InHandelsbanken bought Stadshypoteka major mortgage company, from the government. In the s Handelsbanken opened several branch offices in other countries mostly to support Børnelokker - Svedbanken - Svedbanken banking activities. Fromseveral smaller Norwegian, Finnish and Danish banks were acquired to build up Handelsbanken's activities and branch networks in the other Nordic countries. InHandelsbanken's operations in Denmark, Finland and Norway were organised into regional banks, and started Børnelokker - Svedbanken - Svedbanken operate in the same way as the regional bank organisation used by Handelsbanken in Sweden since the s.
In latethe bank introduced telephone banking services and on 10 December online banking followed. InHandelsbanken acquired the vast majority of the credit and financing portfolio of the former Finnish bank SKOP Bank fi ; which went bust in the earlys Finnish banking crisis and the recession that followedas well as SKOP's holdings in the Finnish Industrialisation Fund fi:Teollistamisrahasto.
InHandelsbanken decided to expand in the United Kingdom by organic growth. At that time the bank had three offices in the UK and opened a fourth in Inthe bank opened its 50th UK branch office, and in its th UK branch office. Inthe UK operations were organised as a regional bank, in the same way as the bank's Nordic operations. Handelsbanken holds a strong position on the Nordic bank market with a nationwide branch office network in Sweden and nearly nationwide networks in the other Nordic countries.
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