A View From The Top
Issue 10 - Winter 2008
Banking our way
Among Sweden’s top exports are
brands like Volvo, Saab and Ikea, all of
whom are renowned for quality and
reliability. The Swedish are famous for
their attention to detail and efficiency,
and it’s these intrinsic attributes that
make the Swedish economy one of
the most stable in Europe.
Handelsbanken’s Swedish pedigree
means that the bank’s ethos is built on
quality of service and prudence, which
has enabled us to maintain a healthy
position even in these challenging times.
Unlike many other high street banks
Handelsbanken has operated on a
decentralised basis since the early 1970’s.
This autonomy allows us to build long
lasting relationships with our customers,
provide the best personal service and
make quick decisions at a branch level.
Although we have the freedom to offer
bespoke banking solutions for our
customers, the bank’s operations are
underpinned by a common culture that
is expressed in a document called
‘Our Way’.
“Unlike many other high street
banks Handelsbanken has
operated on a decentralised
basis since the early 1970’s.
This autonomy allows us to
build long lasting relationships
with our customers, provide
the best personal service and
make quick decisions at a
branch level.”
The document is not prescriptive but
with more than 600 branches operating
worldwide, 60 of which are in the UK, it
is essential for a coordinated approach.
‘Our Way’ expresses the standards and
ideals of the bank and guides our staff in
the way they conduct their business,
with the highest ethical standards and
highest possible service.
Central
departments
Central
business
areas
Regional
head offices
‘Our Way’ is written by CEO Pär Boman
and it provides an insight into how
Handelsbanken is run, why we remain
strong and continue to provide
exceptional service.
Stable finances
At Handelsbanken we have a long-term
credit rating of Aa1 (source: Moody’s
11.11.08) and a proud history of sound
financial security. As a bank we ended
31.12.07 with 0.00% bad debts to loans
and our exposure to the US sub-prime
market has been minimal due to our
cautious, personal approach to lending.
“Stable doesn’t mean scared or timid.
Stable means strength when others must
be defensive. A crucial part of our idea of
how a good bank should be run is that
we are here, with our stable finances, with
a consistent credit policy, ready to do
Branches
“always
responsible
for the
customer”
Customer
business when others are forced to
tighten their belts,” says CEO Pär Boman.
The branch is the bank
For us the branch is the bank and our
decentralised management is the key to
our success. It enables us to provide a
professional, and more importantly, a
personal service where the branch
manager is always available to talk;
either in person or on the phone, instead
of a faceless call centre like so many
other banks.
At Handelsbanken, we feel that nobody
understands the customer better than
the local branch, which is why all
business decisions are made there.
This results in more satisfied customers,
greater efficiency and higher quality
credit decisions.
A View From The Top
Issue 10 - Winter 2008
Banking our way
(continued from page 1)
Handelsbanken – a safe home for your money
“Our branch network is thus not a
distribution channel like any other.
Customer responsibility at
Handelsbanken always lies with a
branch office. Our branches are the
Bank,” explains CEO Pär Boman.
With so many high profile banks
having problems in the current
climate, protection of a business’s
money has now become a critical
area of risk mitigation. Many
companies are now looking to
spread the risk by placing a portion
of their cash deposits with more
than one financial institution. But in
today’s market, how can you be
confident that the institution
receiving your deposit is sound and
prudently run?
A long-term perspective
Handelsbanken is a forward thinking
bank and we always strive to improve
our customer service.
“We were here yesterday and we’ll be
here tomorrow – regardless of what
the future has in store. Our customers
appreciate this. Our long-term
perspective makes us predictable and
thus reliable,” says CEO Pär Boman.
“We were here yesterday and
we’ll be here tomorrow –
regardless of what the future
has in store.”
Our way of working
“All our operations are focused on the
customer – this is quite simply our
business. At the forefront of our
business are the branches. The
branches are closest to the customer
and therefore always have responsibility
for the customer – for the profitability of
the customer and for the customer
being satisfied,” says CEO Pär Boman.
At Handelsbanken, Maidstone we are
always looking for new business
opportunities and welcome enquires
from Kent companies who want more
from their bank. For a personal
banking service call Jonathan Watson,
branch manager on 01622 669795.
solidity, even in these troubled times. As
a bank we are still financially strong and
have healthy capital ratios. And unlike
some of our competitors we have not
needed to turn to rights issues or
government bail outs.
At Handelsbanken we can provide a safe
house for our customers’ deposits and
we have the evidence to prove it.
Handelsbanken is a Swedish bank
founded in 1871 and is the oldest listed
company on the Stockholm Stock
Exchange. With more than 600 branches
worldwide and 60 in Great Britain, we
have a long, proud history of financial
security. Our strong position and quality
reputation is seeing more companies in
Kent choosing to place deposits with
Handelsbanken, Maidstone.
Handelsbanken is a solid and secure
safe house for your savings. We would
be delighted to discuss how we can
protect your finances and provide you
with peace of mind. To find out how you
can benefit from competitive interest
rates on a new deposit account, call
Jonathan Watson, branch manager on
01622 669795.
The table below provides a comparison
with our peers and demonstrates our
Long-term
ratings*
Cost/income Credit loss/
ratio #
loans #
Return on
equity #
Lloyds TSB Bank plc
Aaa
46%
0.79%
29.1%
Handelsbanken
Aa1
46%
0%
21.4%
Barclays Bank plc
Aa1
57%
0.81%
20.4%
HSBC Bank plc
Aa1
49%
1.76%
16.2%
RBS plc
Aa1
53%
0.26%
18.0%
HBOS plc
Aa2
41%
0.46%
19.2%
* Source Moody’s 11th November 2008
# Figures taken from 2007 Annual Reports. Source: Deutsche Bank AG
News in brief
Dartford branch
A new Handelsbanken branch is now
open in Dartford strengthening the bank’s
position in the south east. Now business
and private customers in this important
area of the Thames Gateway can benefit
from Handelsbanken’s traditional
relationship banking. The Dartford branch
Handelsbanken
is located in Bridgeview House, St Mary’s
Road, Greenhithe, Dartford, Kent, DA9
9AS and branch manager, Trevor Adams,
can be reached on 01322 387609.
Seasons greetings!
We would like to thank all of our
customers and professional contacts for
their business in 2008. It has been a
challenging year for everyone but ‘tis now
the season to be jolly and
take a well deserved break!
We wish you all a very
merry Christmas and
a happy and
prosperous 2009.
9th Floor, Colman House, King Street, Maidstone, Kent ME14 1DN
Phone: 01622 669769 Fax: 01622 669770 www.handelsbanken.co.uk/maidstone