Svenska Handelsbanken AB Class A
SHB A: XSTO (SWE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SEK 163.00 | Ntqrmh | Kbfjwydv |
Handelsbanken Earnings: Commercial Real Estate Exposure Moves Into Focus
Narrow-moat Handelsbanken reported good first-quarter results with operating profits up 12% to SEK 8.52 billion on a sequential basis. Income, up 7%, supported by good growth in net interest income as well as net fee and commission income met with marginally lower expenses (negative 1%), reducing the cost/income ratio to 38.5% from 41.5% last quarter. Return on equity came in at 15.0%. We maintain our SEK 115 per-share fair value estimate.