Svenska Handelsbanken Ab Class A · OMXSTO:SHB_A
Svenska Handelsbanken Ab Class A — Q4 2025 Earnings Presentation
20 slides from Svenska Handelsbanken Ab Class A's earnings presentation, Feb 4, 2026
Slide 1: Handelsbanken January – December 2025
Handelsbanken January – December 2025 4 February 2026
Slide 2: Q4 2025
Q4 2025 • Growth in savings business • Growth in lending in the UK and the Netherlands • Income up and costs under control • 8th consecutive quarter with net credit loss reversals • Strong financial position • Proposed dividend SEK 17.50 per share 2
Slide 3: Financial summary Q4 2025 compared to previous quarter
Financial summary Q4 2025 compared to previous quarter Key ratios: 40.7% Adjusted for C/I-ratio items affecting SEK m Q4 2025 Q3 2025 Change comparability* Net interest income 10,038 10,468 -4% -3% 0.00% Net credit loss ratio Net fee and commission income 3,118 2,979 5% 5% Total income 14,262 14,121
Slide 4: Financial summary Jan-Dec 2025 compared to previous year
Financial summary Jan-Dec 2025 compared to previous year Key ratios: 41.5% Adjusted for C/I-ratio Full year Full year items affecting SEK m 2025 2024 Change comparability* Net interest income 42,542 46,841 -9% -7% -0.01% Net credit loss ratio Net fee and commission income 11,863 11,726 1% 2% Total i
Slide 5: Net interest income development
Net interest income development Q4 2025 compared to previous quarter NII change: -4% SEK m 10,700 10,500 14 Contribution from: 10,300 -286 Volumes: +0%-points -53 Margins and 10,100 -85 -20 funding: -3%-points 10,468 9,900 10,038 9,700 9,500 Q3 2025 Volume in home Margins and Deposit Foreign Other Q
Slide 6: Net fee and commission income
Net fee and commission income SEK m 3,200 3,100 CAGR: +6% 3,000 2,900 2,800 3,118 3,067 2,700 2,600 2,800 2,500 2,400 Q4 2023 Q4 2024 Q4 2025 Savings related* (67% of net fee and commissions) Other (33%) SEK m SEK m 2,500 2,500 CAGR: +7% 2,000 2,000 1,500 1,500 CAGR: +2% 1,000 2,076 2,100 1,000 1,81
Slide 7: Expenses
Expenses Q4 2023 – Q4 2025 SEK m 4,000 -5% 3,587 3,500 3,000 2,500 2,000 -4% 1,781 1,500 1,000 480 500 0 -39 -500 Q124 Q324 Q125 Q325 Q124 Q324 Q125 Q325 Q124 Q324 Q125 Q325 Q124 Q324 Q125 Q325 Q423 Q224 Q424 Q225 Q425 Q423 Q224 Q424 Q225 Q425 Q423 Q224 Q424 Q225 Q425 Q423 Q224 Q424 Q225 Q425 Staff
Slide 8: Net credit losses
Net credit losses Credit loss ratio 1997 – 2024 Credit losses Q4 2023 – Q4 2025 SEK m Credit loss ratio 1.2% -1,200 1.2% Handelsbanken Comparable Nordic banks* 1.0% -1,000 1.0% 0.8% -800 0.8% 0.6% -600 0.6% 0.4% -400 0.4% 0.2% -200 0.2% 0.0% 0 0.0% 0.00% -0.01% -0.02% -0.02% -0.01% -0.01% 0.00% -0.0
Slide 9: Home markets
Home markets Sweden United Kingdom 71% of Group operating profits 14% of Group operating profits Q4 2025 vs Q3 2025: Q4 2025 vs Q3 2025: Operating profit SEK 5.5bn Operating profit SEK 1.1bn Operating profit, qoq -4% Operating profit, qoq +3% C/I ratio 32.8% (30.7) C/I ratio 57.5% (58.7) Return on a
Slide 10: Strong financial position
Strong financial position CET1 ratio, Q4 2025 SEK bn 160 20% 17.6% 140 18% Long term target range 14.7% 16% 15.7 – 17.7% Solid asset quality 120 14% 100 Low funding and liquidity risk 12% 80 Strong liquidity buffer 10% 137 60 115 8% CET1 ratio 17.6%, within target range 6% 40 Proposed divi
Slide 11: In sum
In sum • Growth in savings business • Growth in lending in the UK and the Netherlands • Income up and costs under control • 8th consecutive quarter with net credit loss reversals • Strong financial position • Satisfied customers • Proposed dividend SEK 17.50 per share • Total shareholder return abov
Slide 12: Appendix
Appendix Handelsbanken
Slide 13: The Board’s proposal to the AGM 2026
The Board’s proposal to the AGM 2026 Dividend proposal Earnings year 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Ordinary dividend, SEK/share 8.00 7.50 6.50 5.50 5.00 4.10 5.50 5.50 5.00 4.50 4.17 3.83 3.58 3.25 Extra dividend Industrivärden, 4.30 SEK/share Extra divid
Slide 14: Income statement compared to previous quarter
Income statement Compared to previous quarter Key ratios: SEK m Q4 2025 Q3 2025 Change 40.7% Net interest income 10,038 10,468 -4% C/I-ratio Net fee and commission income 3,118 2,979 5% Net gains/losses on financial transactions 677 573 18% Other income 428 101 Total income 14,262 14,121 1% 0.00% St
Slide 15: Income statement compared to previous year
Income statement Compared to previous year Key ratios: SEK m Full year 2025 Full year 2024 Change 41.5% Net interest income 42,542 46,841 -9% C/I-ratio Net fee and commission income 11,863 11,726 1% Net gains/losses on financial transactions 1,692 3,103 -45% -0.01% Other income 699 674 4% Total inco
Slide 16: Change in NII from previous quarter
Change in NII from previous quarter Net interest income continuing operations Q3 2025, SEK m 10,468 Deposit volume 6 Lending volume 5 Net effect margins and funding costs -253 Day count effect 0 Deposit guarantee fee -48 Other -11 Sweden -301 -2.9% Deposit volume 2 Lending volume 1 Net effect of mar
Slide 17: NFT
NFT NFT Customer driven NFT in home markets and Markets* SEK m SEK m 1,200 800 1,147 1,087 1,000 800 750 677 573 Other, incl realisations 600 600 602 626 570 579 580 534 535 506 521 429 400 395 420 393 Funding and liquidity 341 management 200 400 Markets CVA/DVA 0 15 -64 -200 Home markets + Markets
Slide 18: Asset quality
Asset quality • Rating migrations SEK -4m • Better quality on new loans compared to exits SEK 11m • Other (incl. effects from change in loan durations and migrations to stage 3) SEK 10m Expected credit losses Credit losses Credit losses, net Stage 3, net SEK m SEK m SEK m -120 -100 Updated -2 macro
Slide 19: Change in CET1-ratio from previous quarter
Change in CET1-ratio from previous quarter CET1-ratio REA % SEK bn 19.5 810 0.1 0.2 0.2 0.2 19.0 0.1 800 5 6 11 18.5 0.7 7 1.7 7 790 5 18.0 4 780 17.5 802 18.2 770 17.0 17.6 780 16.5 760 16.0 750 Q3 2025 Earnings for Volume Migrations Riskweight Operational Structural FX Anticipated Q4 2025 Q3 2025
Slide 20: Disclaimer
Disclaimer • Certain statements made in this presentation are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or
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