Svenska Handelsbanken Full-year result February 2002

Transcription

1 1 Svenska Handelsbanken Full-year result February 2002

2 Profit & loss account, January - December Handelsbanken Group SEK m Change % Net interest income Commission, net Trading, net Other income 585 * Total income Staff costs, excl. performance-related Performance-related staff costs Other expenses Total expenses Profit before loan losses Loan losses Operating profit *of which affecting comparability SEK 343 m 2

3 Operating profit, quarterly Handelsbanken Group SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

4 4 Net interest income excl. trading, quarterly Handelsbanken Group SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

5 5 Lending to the general public, Sweden Handelsbanken Group Average volumes SEK bn Full year 2001 Full year 2000 Change % Mortgage loans Private Corporate Bank loans Private Corporate Total Private Corporate

6 6 Lending to the general public Handelsbanken Group Average volumes SEK bn Full year 2001 Full year 2000 Change % Sweden Other Nordic countries Private Corporate Rest of world Private Corporate Total Private Corporate

7 7 Deposits from the general public Handelsbanken Group Average volumes SEK bn Full year 2001 Full year 2000 Change % Sweden Private Corporate Outside Sweden Private Corporate Total Private Corporate

8 Commission January December Handelsbanken Group SEK m Change % Brokerage Mutual funds and custody Payments Lending and deposits Other Commission expenses Total

9 9 Trading, net income January - December Handelsbanken Group SEK m

10 10 Trading, net income Handelsbanken Group SEK m Currency & interest rate related Equity related Other

11 11 Change in expenses, Jan - Dec 2001 Handelsbanken Group Comparable expenses Midtbank and SPP 6.6 % units 4.9 % units Exchange rate effects 2.1 % units Total expenses 13.6 % units

12 12 Comparable expenses, Jan - Dec 2001 Handelsbanken Group Salary increases 1.6 % units Performance-related staff costs -1.4 % units Increased number of employees 0.5 % units Higher IT expenses 2.4 % units Premises and property 0.8 % units Expansion outside Sweden 1.0 % units Other 1.7 % units Total comparable expenses 6.6 % units

13 13 Impact of current IT projects Potential annual cost savings of over SEK 300m Potential annual extra income of over SEK 50m

14 Income * per employee SHB and other banks mkr 2,5 2,0 1,5 1,0 Average SEB, Nordea, FSpB, DB Handelsbanken 0,5 0, ** * Excluding items affecting comparability. Years 2000 and 2001 excluding insurance operations. ** Danske Bank as at 30 June 2001, other banks as at 30 Sept

15 C/I ratio* SHB and other banks % Average SEB, Nordea, FSpB, DB Handelsbanken ** * Excluding items affecting comparability. Years 2000 and 2001 excluding insurance operations. ** Danske Bank as at 30 June 2001, other banks as at 30 Sept

16 New branches outside Sweden UK 2 new branches Finland 8 new branches - Leeds - Reading Rovaniemi Ålesund Kokkola Seinäjoki Joensuu Norway 2 new branches Sarpsborg Raisio Salo Tavastehus Helsinki - Munkkivuori Horsens Esbjerg Denmark Vienna 2 new branches 1 new branch Increased costs 2001: SEK 87m Poland 1 new branch Warsaw 16

17 17 Number of employees Handelsbanken Group Change Average no. of employees Jan Dec Swedish branch office operations +17 IT and development, Sweden +175 Other Nordic countries excl Midtbank +109 Midtbank +274 Other countries +10 Other +80

18 18 Operating profit per business area January - December SEK m /- Return on equity 2001 Branch offices % 20.4 % Markets % 24.8 % Securities % 35.6 % Asset management % 28.4 % Handelsbanken Finans % 29.4 % Pension & Insurance % 15.6 % Stadshypotek Bank % 30.6 % Treasury % 14.6 % Group % 18.4 %

19 19 Results in other Nordic countries and UK January - December SEK m Change % Norway Denmark Finland UK Total

20 20 Key figures, January - December Handelsbanken Group Return on equity 18.4 % 21.6 % Cost / income ratio before loan losses 47.5 % 44.6 % after loan losses 48.2 % 44.2 % Net earnings per share, SEK 11:99 12:43

21 21 Bad debts as percentage of total lending Handelsbanken Group % 1,2 1,0 0,8 0,6 0,4 0,2 0,

22 Bad debts as a percentage of lending SHB and other Swedish banks % SHB net/gross Other bank net/gross* * As at 30 Sep

23 Loan losses as a percentage of lending Handelsbanken Group % 0,8 0,7 0,6 0,5 0,4 0,3 Other Swedish banks* Handelsbanken 0,2 0,1 0, * as at 30 Sep

24 24 Geographical distribution of lending Handelsbanken Group 31 Dec 31 Dec Change SEK bn % Sweden % Norway % Finland % Denmark % Rest of Europe % North America % Asia %

25 25 Outstanding loans to certain sectors Handelsbanken Group 31 Dec % of SEK bn 2001 lending Telecom % Travel, Hotels % Shipping % Airlines, aircraft financing, airport financing % Non-life insurance companies %

26 26 Balance sheet Handelsbanken Group 31 Dec 31 Dec Change SEK m % Lending to general public Lending to credit institutions Interest-bearing securities Other assets Total assets Deposits and funding from general public Liabilities to credit institutions Issued securities Other liabilities Shareholders equity Total liabilities and shareholders equity

27 27 Capital base and capital ratio Handelsbanken Group SEK bn % 9.9 % % 9.8 % 9.4 % 9.5 % Tier II capital % 10.3 % 12.2 % 10.0 % 6.2 % 6.3 % 6.5 % 6.4 % 5.9 % 6.1 % Tier I capital Sep 2001

28 Return on shareholders equity after standard tax 31 December 2001 % Handelsbanken Other listed commercial banks * * as at 30 September

29 Increased market shares - increased lead in profitability Market shares in Sweden % % Deposits in SEK, households * Mutual funds, new sales Lending in SEK, households * Mortgage lending in SEK, households * Lead in profitability over other listed banks ** * Market share for 2001 as at November ** As at 30 September 2001 Source: Statistics Sweden. Svensk Fondstatistik/Sparöversikt 29

30 The Swedish savings market Handelsbanken s market share % % Deposits in SEK, households * Mutual funds, volume ** Mutual funds, new sales Equity linked bonds, registrered volume *** Equity linked bonds, new issues *** Equity linked bonds, turnover *** * 2001 market share as at November ** Excl. the premium pension fund *** On Stockholm Stock Exchange Source: Statistics Sweden, Svensk Fondstatistik/Sparöversikt 30

31 The Swedish mutual fund market Market share net savings excl. PPM % 25 Robur 45.6 % Nordea 16.5 % SEB 11.1 % SHB 10.9 % SHB 19.3 % Robur 19.0 % Nordea 14.9 % Handelsbanken Robur Nordea SEB SEB 6.8 % 31

32 32 Handelsbanken on the Internet More than customers of the Group connected to the Internet Web sites in 5 countries >50 % of corporate customers connected >30 % of private customers connected

33 33 Proportion of services via the Internet Handelsbanken, Sweden 50% 45% 40% 35% 30% 34% 45% 29% 41% 25% 20% 15% 10% 5% 0% 19% 8% Equity trading 7% 11% 16% 16% Mutual funds trading 15% 11% Payments 1998 (Q4) 1999 (Q4) 2000 (Q4) 2001 (Q4)

34 Most satisfied customers - in Denmark too Dansk KundeIndex 2001 Index Handelsbanken / Midtbank Jyske Bank Sydbank Unibank Danske Bank BG Bank Source: Danish Centre for Management 34

35 Source: Privata Affärer, no Handelsbanken - Bank of the Year

36 Dividend 2000 Proposal 2001 Per share, SEK Class A and B 4:00 4:50 Share of net earnings, % Increase 00/01, % 12.5 Dividend, SEK m Class A and B

37 Buyback of shares The Board requests authorisation to repurchase a maximum of 20 million shares and to use repurchased shares for acquisitions The Board states that the buybacks will be for a maximum of SEK 2bn At year-end, the Bank owned 21.4 million of its own shares 37

38 38 Handelsbanken Hypotek redeems preference shares Handelsbanken Hypotek intends to redeem all preference shares for SEK 252.6m Marginal impact on Handelsbanken s Tier 1 capital ratio

39 Share price performance up to 31 December 2001 Index SHB AFV General Index Nordix Bank excl SHB