SHB announced big changes to its Swedish franchise this morning
Will cut 180 (47%) of branches in Sweden by YE21 and 1,000 FTEs
Expects SEK 20bn opex level by YE22 vs current ‘22 cons of SEK 22.5bn
Potential uplift to cons. operating profit of 6% in 22/23
16 Sep 2020
Announces aggressive cost cutting ambitions
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Announces aggressive cost cutting ambitions
Svenska Handelsbanken AB Class A (SVHH:FRA) | 0 0 0.4% | Mkt Cap: 224,809m
- Published:
16 Sep 2020 -
Author:
Roy Tilley -
Pages:
6
SHB announced big changes to its Swedish franchise this morning
Will cut 180 (47%) of branches in Sweden by YE21 and 1,000 FTEs
Expects SEK 20bn opex level by YE22 vs current ‘22 cons of SEK 22.5bn
Potential uplift to cons. operating profit of 6% in 22/23