Handelsbanken grows AUM by 5 percent – but inflows drop by more than half

The bank had a 26 percent market share of net savings in Sweden during the second quarter.

Photo: PR/Handelsbanken

Handelsbanken’s operating profit for the first six months of the year grew by 14 percent to SEK 11.6bn (EUR 1.1bn), up from SEK 10.2bn (EUR 1bn)at the end of last year. During the second quarter alone, profit increased by 7 percent to SEK 6bn (EUR 0.6bn), according to the bank’s quarterly report published this morning.

Figures also show that Handelsbanken’s assets under management now amount to SEK 980bn (EUR 95.7bn), an increase of 34 percent compared to the same period last year. Of that total, SEK 892bn (EUR 87bn) is invested in the bank’s mutual funds, which increased by 36 percent compared to the corresponding period last year. The increase in fund volume of SEK 238bn (EUR 23.2bn) over the past year was mostly due to value appreciation, but SEK 70bn (EUR 6.8bn) came from net inflows.

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