Q2 2024 Svenska Handelsbanken AB Earnings Call Transcript
Good morning, everyone, and welcome to this presentation of Handelsbanken's results for the first half and second quarter of 2024. In the second quarter, we saw recovering earnings. The financial position remaining solid and high activity within the bank with execution efficiency-enhancing measures.
ROE improved to 15.2% from 13.7% in the previous quarter. Operating profit rose by 3% to SEK8.5 billion as income grew, costs dropped and another quarter with net credit loss recoveries. The cost-to-income ratio dropped to 41.5% from 42.2%. In short, a positive development on the key lines.
The financial position of the bank remains very healthy. The CET1 ratio was 18.9%, was 400 basis points above the regulatory requirement, which was in line with previous communication. As of April 1, a new organizational structure was implemented in the central and business supporting units. With the organizational changes, decentralization was enhanced and measures taken for increased efficiency and profitability going forward.
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