Latest news with #Handelsbanken
Time of India
6 days ago
- Business
- Time of India
Swedbank to Lift Hiring Freeze While Focusing on Efficiency and Market Share, ETHRWorld
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App STOCKHOLM: Swedish banking group Swedbank on Wednesday set a target of at least 15% return on equity in the coming years, in line with a previous goal despite recent headwinds on interest income , and said it expected to abandon a freeze on biggest mortgage lender said in a statement it aimed to increase or maintain market shares for its main products while boosting efficiency across the group by harnessing new technologies, including bank last set financial targets in December 2022, aiming to achieve a return on equity of 15% in 2025, a goal it met in both 2023 and 2024, but over the past year central bank rates have tumbled, putting a damper on bank interest addition, the war in Ukraine and simmering trade conflicts have clouded the outlook also for lenders."Geopolitical tensions are contributing to a level of global uncertainty we have not experienced in decades," Swedbank CEO Jens Henriksson said during a presentation to investors that he expected an external hiring freeze , put in place to keep a lid on costs more than a year ago, to be lifted. "But we will remain restrictive in new hiring," he rival of Nordic banks such as Handelsbanken, SEB and Nordea has built capital on the back of growing income in recent years and reverted to a higher payout policy earlier this year."We have no intention to hold more capital than necessary," Henriksson said. (Reporting by Niklas Pollard, editing by Stine Jacobsen and Terje Solsvik)
Local Norway
13-05-2025
- Business
- Local Norway
How the latest trade war developments have affected the Norwegian krone
The news of a 90-day tariff break between the world's two largest economies - the United States and China - briefly boosted the dollar, pushing it up about 10 øre against the krone by mid-morning on Monday. However, the euro's decline and the krone's simultaneous strengthening suggest that Norway's currency may be better positioned than headlines indicate, especially in the broader, long-term view. READ MORE: Analysts predict Norway's krone could make up lost ground on the euro and US dollar Short-term dollar strength, long-term doubts The dollar's initial bounce was largely psychological, according to currency strategist Nils Kristian Knudsen of Handelsbanken. "The dollar has been hit hard by trade tensions, so any form of clarification gives it some relief," Knudsen told the newspaper e24. "But this is not a done deal. The damage to the dollar's credibility is already done." Knudsen argued that the Trump administration has weakened foreign confidence in the dollar by using it as a policy lever in trade disputes , making long-term dollar strength unlikely. "The market has realized that the dollar can be used as a bargaining chip," he added. Advertisement Senior strategist Dane Cekov at Sparebank 1 Markets echoed the sentiment, noting that while some recovery in the dollar is expected, much of the upside has already been priced in. Although we may see short-term gains, I still expect a weaker dollar over the long term, Cekov said. "Uncertainty is lower than before, but it's far from gone." READ ALSO: What are the US tariffs on Norway, and how could they affect you? Euro weakens, but not for long? The euro dipped against the dollar following the trade news, but analysts say the euro still holds ground. "I think the euro will continue to play a stronger role," Knudsen noted, citing consistent structural support from the eurozone and limited future upside for the dollar. This dynamic has worked in favour of the Norwegian krone, which strengthened against the euro during Monday trading. By late afternoon, one euro traded for 11.58 kroner – slightly lower than recent levels. Advertisement Good news for the krone Despite its dip against the dollar, the krone gained strength against a broader basket of currencies, especially in import-weighted indexes like I-44, which measure the krone's performance against Norway's key trading partners. Since the euro holds more weight than the dollar in this context, the krone's gain is seen as positive. It's more important for Norway that the krone strengthens against the euro than the dollar, Cekov said. "The trade truce reduces recession risks, oil prices are rising, and risk sentiment has improved - all favorable for the krone," he explained.
Yahoo
11-05-2025
- Entertainment
- Yahoo
Charity event raises £30,000 to homeless and vulnerable veterans
A charity event raised £30,000 to support homeless and vulnerable veterans. The fundraiser, organised by Alabaré, took place at the Everyman Cinema and featured a talk by international author Damien Lewis. Lewis, known for his best-selling books on the military, spoke about the early missions of the SAS during the Second World War. The event was organised with the help of Handelsbanken and Trethowans, inviting people from across the community to attend. The audience was treated to stories about the daring Operation Postmaster, one of the earliest covert operations by the SAS. READ MORE: Salisbury Fabulous Family Fun Day for Salisbury Hospice MD Peter Ames of Apsley Engineering was delighted to have the winning bid for a replica set of Paddy Mayne's medals created especially by Ubique Medals (Image: Alabaré) Exclusive clips from Guy Ritchie's upcoming film, The Ministry of Ungentlemanly Warfare, were also shown. Mr Lewis said: "Alabaré carry out vital work with the veteran's community across Britain, something that is very dear to my heart. "As someone who has myself been diagnosed with Post Traumatic Stress Disorder, from my days as a war reporter, I understand the challenges all who have served on the front line face. "Alabaré endeavour to make the world a better place for all those who have sacrificed a great deal in defence of the freedoms we cherish today." The night also featured an auction led by John Axford, chairman of Woolley & Wallis and a familiar face from BBC's Antiques Roadshow. Auction items included a replica of Colonel Blair 'Paddy' Mayne's SAS medals, a bottle of SAS signature port and the chance to name a character in Lewis's next book. Alabaré CEO Andrew Lord said: "It was a fantastic evening with a truly inspirational speaker. "Damien brought to life the incredible bravery of the original SAS and reminded us of the sacrifices made. "We're deeply grateful to him, to our co-hosts Handelsbanken and Trethowans who brought invaluable support." The money raised will help Alabaré continue its work to provide housing, support, and care for veterans across their homes. Many of these veterans face challenges such as mental health issues, PTSD and homelessness after their military service.
RTÉ News
08-05-2025
- Business
- RTÉ News
Norway holds interest rate steady at 4.5%, eyes cut by year-end
Norway's central bank kept interest rates on hold at a 17-year high of 4.5% today, as unanimously predicted by analysts, reflecting a resurgence of inflation that has prevented policy-makers from cutting borrowing costs. "If the policy rate is lowered prematurely, prices may continue to rise rapidly," Norges Bank Deputy Governor Paal Longva said in a statement. "The committee's current assessment of the outlook implies that the policy rate will most likely be reduced in the course of 2025," he added. Norges Bank in a March policy reversal maintained its interest rate at 4.5%, the highest level since 2008, as an unexpected rise in consumer prices led the central bank to postpone long-planned monetary easing. Meanwhile, a restrictive monetary policy is needed to bring inflation down to target within a reasonable time horizon, the central bank said today. Norway's annual core inflation rate stood at 3.4% year-on-year in March, the latest available data showed, in line with expectations in a Reuters poll but well above the central bank's 2% target. All 24 analysts in a Reuters poll had predicted that rates would stay unchanged today. Norway's policy contrasts with steps taken by other Western central banks, most of which started cutting rates last year as growth slowed and inflation waned. "We continue to believe that the first rate cut will be delayed until September," Handelsbanken wrote in a note to clients. A majority of the analysts polled between April 30 and May 5 predicted a rate cut in the third quarter, followed by a second one in the final three months of the year to end 2025 at 4%. "Trade barriers have become more extensive, and there is uncertainty about future trade policies. This may pull the interest rate outlook in different directions," Longva said. The US Federal Reserve last night kept its policy rate on hold, as did Sweden's Riksbank today, while analysts expect the Bank of England to cut borrowing costs later today.
Local Norway
30-04-2025
- Business
- Local Norway
New forecast suggests the Norwegian krone will make up ground on the US dollar
Bank SEB forecasted that both the Norwegian krone and Swedish krona would strengthen against the dollar over the next year. The bank expects one dollar to be worth 9.42 Norwegian kroner by the end of June 2026. The last time the krone was as strong against the dollar was in early 2022 before it strengthened considerably against the Norwegian krone. It is also expected that the euro will be worth around 11.40 kroner by June of next year. A euro has typically traded for considerably more than this over the past year. 'The question is whether this is the beginning of a long-term structural reversal with a 'sell America' theme, as trust in US politics and institutions has eroded,' the analysis said of the expected strengthening. Interest rate and currency strategist Nils Kristian Knudsen at Handelsbanken told the business and financial E24 that a recent dip in the dollar against the krone may not reverse. Advertisement 'It is starting to gain some traction, in the sense that the market accepts that the fall in the dollar we have had is here to stay,' he said. He added that the krone strengthening or weakening against the euro would have a more significant impact on consumers in Norway than changes between the krone and the dollar.
