Announces action in Handelsbanken Norge – E24

Handelsbanken appoints a temporary new country manager in Norway, and announces action after continued weak development.

The case is updated.

Marion Ulander temporarily takes over as country manager for Handelsbanken after Arild Andersen, who now has a role as senior advisor to Handelsbanken’s CEO.

The bank says that it has carried out a review following the “still weak development” in Norway.

– After reviewing our Norwegian operations, we have decided on a strategic restart, says CEO Michael Green at Handelsbanken, according to a Message.

The announcement comes at the same time that Handelsbanken presents its results. The company had an operating profit of SEK 8.3 billion in the first quarter, down from SEK 9.1 billion a year earlier.

Handelsbanken Norge delivers an operating profit of NOK 544 million in the first quarter, down from NOK 624 million in the same quarter last year.

There were an average of 966 employees in Handelsbanken Norge in the first quarter, up from 783 in the same quarter last year.

Increased personnel costs

Handelsbanken states that personnel costs have increased. This is mainly due to new hires at the bank’s offices. The company emphasizes that this is initially a good sign because it indicates increased customer and business activity.

“In a quarter where costs rise faster than income, we are of course not satisfied”, writes Handelsbanken in its quarterly report.

“The outcome means that in future we will work even more focused, with resolute change work at a higher pace”, writes the bank.

Took over union agreement

Handelsbanken took over the agreement with Akademikerne Pluss and Tekna from the new year after Danske Bank announced its exit from the Norwegian retail market.

The agreement was known for giving members one of the country’s best interest rates on mortgages.

The two new agreements cover over 200,000 trade union members.

When the agreements became known, Andersen did not want to say how much they are investing, other than that it is “substantial” sums.