Handelsbanken

It is one of the most relevant Scandinavian financial institutions. This Swedish bank offers a wide variety of products and services related to commercial, corporate, investment, and insurance banking in many countries.

History

This bank was founded in 1871 by a group of people and companies in Stockholm. It was first created under the name of Stockholms Handelsbank. It started operating at the beginning of July of that year. It was located in a commercial area of Stockholm. It had a good start and was placed as one of the most important entities of the city.

A few years later, a financial crisis arose in Stockholm that generated severe problems for the bank. That led the bank to change part of the administration by appointing the private banker Louis Fraenckel as director of the administration in 1893. He owned a company that joined with Stockholms Handelsbank. That allowed the bank’s sustainability for several years until 1991.

There were three years, beginning since 1914, in which the bank made a series of acquisitions such as Bankaktiebolaget Norra Sverige, Norrlandsbanken, and Bankaktiebolaget Södra Sverige that led it to expand throughout Sweden. After the mergers with these institutions, the bank began to be called Svenska Handelsbanken.

During the 1920s and 1930s, the bank suffered economic ups and downs due to the conditions of World War I and its recession. Thanks to the acquisition of other institutions, at the start of World War II, the bank already had a large number of sufficient branches, which allowed it to remain stable. That allowed Handelsbanken to make more acquisitions in later decades.

The bank needed a new president in 1970. Therefore, the institution hired Jan Wallander from Sundsvallsbanken. He was responsible for decentralizing Handelsbanken by dividing the offices with their branches throughout the country. His goal was to be the most profitable bank and offer benefits to all.

Twenty years later, Sweden suffered an economic crisis in which many banks in the country were affected due to corporate loans. That favored the bank to grow even more in the Swedish banking sector, allowing it to expand in other countries by acquiring institutions in Norway, Finland, Denmark, and other countries. It has continued to purchase banking entities to become a bank that manages all existing banking operations.

Routing Number

It refers to bank transfers from a particular bank. The route number of the Handelsbanken is 026010841.

Number of Employees

This prominent Swedish bank has the participation of 13,500 employees.

Rating

The rating assesses the possible financial risks that a bank would have due to debts.

Handelsbanken has a rating of:

  • Moody’s = Aa2.
  • S&P = AA-.
  • Fitch = AA.

Aa2 (Moody’s) = It presents high quality with a little more risk to long-term risks.

AA- (S&P Global) = It is a high-quality entity, very stable, and with little risk.

AA (Fitch) = The bank has very high security.

Headquarters

Its headquarters are located in Stockholm, Sweden.

Website

Any bank information can be found with the address: http://www.handelsbanken.com

Services

1.Personal Banking: It provides all the basic operations of a bank such as savings accounts, cards, loans, and also allows personal advice on any bank operation.

2. Corporate Banking: It offers products and services to companies and institutions, large and small, in terms of financial, loan, and insurance operations.

3. Financial Institutions: It allows a personalized search of financial institutions and providing execution and securities services, cash and asset management, and securities financing.

Contact

Address: The head office is in Kungsträdgårdsgatan 2, SE-106 70 Stockholm, Sweden.

Phone Number: +46 8 701 10 00.