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1
Svenska HandelsbankenFull-year result 2001
12 February 2002
2
Profit & loss account, January - DecemberHandelsbanken Group
*of which affecting comparability SEK 343 m
SEK m 2001 2000 Change %
Net interest income 13 385 11 791 14Commission, net 5 028 5 455 -8Trading, net 2 656 2 633 1Other income 585 *801 -27Total income 21 654 20 680 5Staff costs, excl. performance-related -5 580 -4 844 15Performance-related staff costs -338 -464 -27Other expenses -4 376 -3 756 17Total expenses -10 294 -9 064 14Profit before loan losses 11 360 11 616 -2Loan losses -152 67Operating profit 11 208 11 683 -4
20 337 6
11 340 -1
3
Operating profit, quarterlyHandelsbanken Group
0
500
1 000
1 500
2 000
2 500
3 000
3 500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
SEK m
1997 1998 1999 2000 2001
4
Net interest income excl. trading, quarterlyHandelsbanken Group
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
SEK m
1999 2000 2001
5
Lending to the general public, SwedenHandelsbanken Group
Average volumesSEK bn
Full year2001
Full year2000
Change%
Mortgage loans 337 321 5Private 201 183 10Corporate 136 138 -1
Bank loans 265 222 19Private 45 40 13Corporate 220 182 21
Total 602 543 11Private 246 223 10Corporate 356 320 11
6
Lending to the general publicHandelsbanken GroupAverage volumesSEK bn
Full year2001
Full year2000
Change%
Sweden 602 543 11Other Nordic countries 96 67 43
Private 28 20 40Corporate 68 47 45
Rest of world 62 48 29Private 2 2 0Corporate 60 46 30
Total 760 658 16Private 276 245 13Corporate 484 413 17
7
Deposits from the general publicHandelsbanken GroupAverage volumesSEK bn
Full year2001
Full year2000
Change%
Sweden 194 178 9Private 74 73 1Corporate 120 105 14
Outside Sweden 85 63 35Private 15 12 25Corporate 70 51 37
Total 279 241 16Private 89 85 5Corporate 190 156 22
8
Commission January – DecemberHandelsbanken Group
SEK m 2001 2000Change
%
Brokerage 1 072 1 668 -36Mutual funds andcustody 1 417 1 646 -14
Payments 1 311 1 194 10Lending and deposits 1 168 876 33Other 1 226 1 172 5Commission expenses -1 166 -1 101 6Total 5 028 5 455 -8
9
Trading, net income January - DecemberHandelsbanken Group
1 855
2 633 2 656
0
500
1 000
1 500
2 000
2 500
3 000
1999 2000 2001
SEK m
10
0
500
1 000
1 500
2 000
2 500
3 000
2001 2000
Currency & interest rate related Equity related Other
SEK m
Trading, net incomeHandelsbanken Group
11
Change in expenses, Jan - Dec 2001Handelsbanken Group
Comparable expenses 6.6 % units
Midtbank and SPP 4.9 % units
Exchange rate effects 2.1 % units
Total expenses 13.6 % units
12
Comparable expenses, Jan - Dec 2001Handelsbanken Group
Salary increases 1.6 % unitsPerformance-related staff costs -1.4 % unitsIncreased number of employees 0.5 % unitsHigher IT expenses 2.4 % unitsPremises and property 0.8 % unitsExpansion outside Sweden 1.0 % unitsOther 1.7 % unitsTotal comparable expenses 6.6 % units
13
• Potential annual cost savings of overSEK 300m
• Potential annual extra income of overSEK 50m
Impact of current IT projects
14
Income * per employee 1998 - 2001SHB and other banks
0,0
0,5
1,0
1,5
2,0
2,5
1998 1999 2000 2001
AverageSEB,Nordea,FSpB, DB
Handels-banken
mkr
** Danske Bank as at 30 June 2001, other banks as at 30 Sept 2001.
*** Excluding items affecting comparability. Years 2000 and 2001 excluding insurance operations.
15
C/I ratio* 1998 - 2001SHB and other banks
0
20
40
60
80
1998 1999 2000 2001
AverageSEB,Nordea,FSpB, DB
Handels-banken
%
**
** Danske Bank as at 30 June 2001, other banks as at 30 Sept 2001.
* Excluding items affecting comparability. Years 2000 and 2001 excluding insurance operations.
16
New branches outside Sweden
Increased costs 2001: SEK 87m
UK2 new branches
Norway2 new branches
Finland8 new branches
Warsaw
Poland1 new branch
Rovaniemi
Kokkola
SaloTavastehus
- Leeds
- Reading
Raisio
JoensuuÅlesund
Denmark2 new branches
Esbjerg Horsens
Vienna1 new branch
Sarpsborg
Seinäjoki
Helsinki- Munkkivuori
17
Number of employeesHandelsbanken Group
2001 2000 ChangeAverage no. of employees Jan – Dec 9 239 8 574 + 665 Swedish branch office operations +17 IT and development, Sweden +175 Other Nordic countries excl Midtbank +109 Midtbank +274
Other countries +10Other +80
18
Operating profit per business areaJanuary - December
SEK m 2001 2000 +/-
Return onequity2001
Branch offices 8 708 8 705 0 % 20.4 %
Markets 1 446 953 52 % 24.8 %
Securities 356 755 -53 % 35.6 %
Asset management 550 646 -15 % 28.4 %
Handelsbanken Finans 345 331 4 % 29.4 %
Pension & Insurance 66 102 -35 % 15.6 %
Stadshypotek Bank 22 15 47 % 30.6 %
Treasury 138 173 -20 % 14.6 %
Group 11 208 11 683 -4 % 18.4 %
19
Results in other Nordic countries and UKJanuary - December
SEK m 2001 2000 Change %
Norway 183 603 -70
Denmark 101 56 80
Finland 157 381 -59
UK 219 189 16
Total 660 1229 -46
20
Key figures, January - DecemberHandelsbanken Group
2001 2000
Return on equity 18.4 % 21.6 %
Cost / income ratiobefore loan losses 47.5 % 44.6 %after loan losses 48.2 % 44.2 %
Net earnings per share,SEK 11:99 12:43
21
0,0
0,2
0,4
0,6
0,8
1,0
1,2
-97 -98 -99 -00 -01 -02
%
Bad debts as percentage of total lendingHandelsbanken Group
22
0
1
2
3
4
5
97 98 99 00 010
1
2
3
4
5
97 98 99 00 01
%
Bad debts as a percentage of lendingSHB and other Swedish banks
* As at 30 Sep 2001
SHBnet/gross
Other banksnet/gross*
23
Loan losses as a percentage of lendingHandelsbanken Group
0,0
0,1
0,2
0,3
0,4
0,5
0,6
0,7
0,8
1997 1998 1999 2000 2001
OtherSwedishbanks*
Handels-banken
%
* as at 30 Sep 2001
24
31 Dec 31 Dec ChangeSEK bn 2001 2000 %
Sweden 646 573 13 %Norway 44 35 26 %Finland 32 26 23 %Denmark 21 12 75 %Rest of Europe 27 22 23 %North America 28 19 47 %Asia 2 2 0 %
Geographical distribution of lendingHandelsbanken Group
25
31 Dec % ofSEK bn 2001 lendingTelecom 15.6 2.0 %Travel, Hotels 2.8 0.3 %Shipping 9.5 1.2 %Airlines, aircraftfinancing, airportfinancing 3.1 0.4 %Non-life insurancecompanies 0.3 0.0 %
Outstanding loans to certain sectorsHandelsbanken Group
26
Balance sheetHandelsbanken Group
31 Dec 31 Dec ChangeSEK m 2001 2000 %
Lending to general public 800 068 689 106 16Lending to credit institutions 70 857 94 677 -25Interest-bearing securities 128 347 88 262 45Other assets 175 249 148 308 18Total assets 1 174 521 1 020 353 15
Deposits and funding from generalpublic 283 692 255 350 11
Liabilities to credit institutions 220 126 155 414 42Issued securities 440 981 401 489 10Other liabilities 181 610 165 634 10Shareholders’ equity 48 112 42 466 13Total liabilities and shareholders’equity 1 174 521 1 020 353 15
27
1995 1996 1997 1998 1999 2000 2001Sep
2001
10
20
30
40
50
60
70
10.3 %
14.2 %
10.0 %
12.2 %
6.2 %
10.4 %
6.3 %
9.8 %
6.5 %
9.4 %
6.4 %
9.5 %
5.9 %
9.5 %
6.1 %
9.9 %
Capital base and capital ratioHandelsbanken Group
SEK bn
Tier IIcapital
Tier Icapital
28
-5
0
5
10
15
20
25
30
-84 -86 -88 -90 -92 -94 -96 -98 -00
Return on shareholders’ equity after standard tax31 December 2001
Handelsbanken
Other listedcommercialbanks *
%
* as at 30 September 2001
29
2001 2000Market shares in Sweden % % Deposits in SEK, households * 17.5 17.2 Mutual funds, new sales 19.0 11.4 Lending in SEK, households * 16.8 16.7 Mortgage lending in SEK, households * 31.6 31.4
Lead in profitability over other listedbanks ** +6.8 +4.9
Source: Statistics Sweden. Svensk Fondstatistik/Sparöversikt
Increased market shares- increased lead in profitability
* Market share for 2001 as at November** As at 30 September 2001
30
2001 1997% %
Deposits in SEK, households * 17.5 15.7
Mutual funds, volume ** 11.4 9.9Mutual funds, new sales 19.0 10.9
Equity linked bonds, registrered volume *** 47.6 42.7
Equity linked bonds, new issues *** 38.2 35.0
Equity linked bonds, turnover *** 70.0 60.0
Source: Statistics Sweden, Svensk Fondstatistik/Sparöversikt
The Swedish savings marketHandelsbanken’s market share
* 2001 market share as at November** Excl. the premium pension fund*** On Stockholm Stock Exchange
31
The Swedish mutual fund marketMarket share net savings excl. PPM
5
10
15
20
25
1997 1998 1999 2000 2001
Handelsbanken Robur Nordea SEB
%
SHB 19.3 %
Robur 19.0 %
Nordea 14.9 %
SEB 6.8 %
SEB 11.1 %
SHB 10.9 %
Nordea 16.5 %
Robur 45.6 %
32
• More than 530 000 customers of the Groupconnected to the Internet
• Web sites in 5 countries
• >50 % of corporate customers connected
• >30 % of private customers connected
Handelsbanken on the Internet
33
Proportion of services via the InternetHandelsbanken, Sweden
11%
41%
11%7%8%
15%19%
29%
16%
34%
16%
45%
0%5%
10%15%20%25%30%35%40%45%50%
Equity trading Mutual fundstrading
Payments
1998 (Q4)1999 (Q4)2000 (Q4)2001 (Q4)
34
60
65
70
75
80
Handelsbanken/ Midtbank
Jyske Bank Sydbank Unibank Danske Bank BG Bank
Index
Most satisfied customers - in Denmark tooDansk KundeIndex 2001
Source: Danish Centre for Management
35Source: Privata Affärer, no 12 2001
Handelsbanken - Bank of the Year
36
Dividend
Per share, SEKClass A and B 4:00 4:50Share of net earnings, % 30.1 37.6Increase 00/01, % 12.5
Dividend, SEK mClass A and B 2 745 3 120
2000 Proposal 2001
37
• The Board requests authorisation torepurchase a maximum of 20 million sharesand to use repurchased shares for acquisitions
• The Board states that the buybacks will be fora maximum of SEK 2bn
• At year-end, the Bank owned 21.4 million of itsown shares
Buyback of shares
38
• Handelsbanken Hypotek intends to redeem allpreference shares for SEK 252.6m
• Marginal impact on Handelsbanken’s Tier 1capital ratio
Handelsbanken Hypotek redeemspreference shares
39
0
50
100
150
200
250
1997 1998 1999 2000 2001 2002
SHB AFV General Index Nordix Bank excl SHBIndex
Share price performance up to 31 December 2001