Summary: Svenska Handelsbanken Nov 08

Standard & Poors, November 2008

Abstract
The ratings on Svenska Handelsbanken (Handelsbanken) reflect the bank's conservative strategy, its strong asset quality and conservative capital policy, its leading market position in Sweden, and excellent cost efficiency. They are constrained by the bank's relatively large exposure to single names and its high reliance on wholesale funding. Handelsbanken is the fourth-largest universal banking group in the Nordic region, with total assets of Swedish krona (SEK) 1.964 billion ($255 billion at SEK7.7 to $1) at Sept. 30, 2008. Stadshypotek AB (AA-/Stable/A-1+), the bank's wholly owned domestic mortgage-lending subsidiary, accounts for 32% of consolidated assets. Handelsbanken has a leading market position in Sweden, where it commands solid market shares in all segments of the banking industry. The bank is also offering...

Companies mentioned in this report are:
- Svenska Handelsbanken AB

Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Svenska Handelsbanken AB

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