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0,06 0,13 0,15 0,16 0,19 0,40 112 62 55 53 46 22 11% 22% 23% 57% 64% 70% Handelsbanken DNB Nordea SEB Swedbank Danske Bank
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952 25 64 132 58 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Netherlands Norway UK Sweden, other Sweden, Stadshypotek Corporates SEK 1054 bn Households SEK 1235 bn 470 154 167 172 52 19 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Handelsbanken Markets Netherlands Norway UK Sweden other Sweden Stadshypotek
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Private individuals - mortgages Private individuals - other Housing co-operative associations Property management Manufacturing Retail and services Holding companies, insurance companies, Other corporate lending 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% State-owned property companies Municipal-owned property companies Residential property companies Other property companies 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Great Britain Norway The Netherlands 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
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• • • • 464 1,742 700 97 799 -200 300 800 1,300 1,800 2,300 2,800 3,300 3,800 Q3 2025 Cash and balances at central banks Bonds and other highly liquid securities including derivatives Loans repaid and amortized within 1 year Loans to the public longer than 1 year Other assets 560 195 764 1,432 851 -200 300 800 1,300 1,800 2,300 2,800 3,300 3,800 Q3 2025 Liabilities and issued securities maturing within 1 year Deposits from the public Issued securities longer than 1 year Equity Other liabilities
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122% 60% 70% 80% 90% 100% 110% 120% NSFR Requirement NSFR 122% Available Stable Funding 2106 SEK bn Own funds (100% weight) 204 SEK bn Stabe retail deposits (95%) 387 SEK bn Less stable retail deposits (90%) 320 SEK bn Operational deposits (50%) 140 SEK bn Other wholesale funding (50%) 1053 SEK bn Other 2 SEK bn Required Stable Funding 1726 SEK bn Encumbered assets >12 months (85% weight) 481 SEK bn Performing loans and securities (64%) 1136 SEK bn Other assets 109 SEK bn
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• • • • • 0 200 400 600 800 1,000 1,200 HQLA Net Cash Outflows LCR 188 % 386 SEK bn cushion 50% 100% 150% 200% 250% 30 sep 2019 30 sep 2021 30 sep 2023 30 sep 2025 Liquidity reserve, SEKbn Cash and balances with central banks 624 Securities issued or guaranteed by sovereigns, central banks etc 204 Extremely high quality covered bonds 70 Other assets 5 Total liquid assets 903 Total liquid assets 903 of which in SEK 271 of which in EUR 196 of which in USD 270
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616 461 328 0 200 400 600 800 1,000 1,200 1,400 1,600 Total deposits SEK bn On demand deposits retail/SME On demand deposits (excl retail/SME) Term deposits 404 89 229 681 0 200 400 600 800 1,000 Private Corporate SEK bn Guaranteed Not guaranteed 280 181 0 200 400 600 On demand deposits (excl retail/SME) SEK bn Operational Non operational Total** 1,397 35% Sweden 859 47% Norway 106 48% UK 268 12% Netherlands 43 11%
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900 950 1,000 1,050 1,100 1,150 1,200 1,250 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025 700 750 800 850 900 950 1,000 1,050 1,100 30 Sep 2021 30 Sep 2022 30 Sep 2023 30 Sep 2024 30 Sep 2025
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17 17 -3 27 -6 • • •
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Scenario Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin 2025 0.6 0.7 1.3 0.4 9.0 5.2 2.4 9.1 2.0 4.0 4.3 2.0 -3.3 2.6 -4.6 -3.8 -1.9 2.3 3.3 -3.1 2026 -2.1 -3.6 -2.9 -3.1 10.5 7.6 4.2 10.4 4.3 6.0 6.0 4.3 -14.4 -15.1 -14.6 -11.0 -4.2 -8.9 -2.2 -5.9 2027 0.9 -0.4 0.1 0.3 10.3 7.9 4.6 10.5 4.3 5.3 5.5 4.0 -0.4 -7.3 -6.5 -5.2 2.6 -4.1 -0.6 -0.7 2028 2.6 2.3 2.3 2.2 10.0 7.5 4.6 10.0 3.3 4.0 4.0 3.0 7.1 4.5 2.9 3.4 9.3 5.2 5.7 6.4 2029 2.1 2.1 2.1 1.7 9.4 6.6 4.1 9.0 2.9 3.3 3.0 2.5 5.5 3.8 2.7 2.9 6.8 7.1 3.8 5.4 2025 1.1 1.2 1.8 0.9 8.7 4.9 2.1 8.8 1.8 3.8 4.0 1.8 -0.5 3.4 -1.6 -2.7 1.0 2.8 6.0 -2.5 2026 2.4 0.9 1.6 1.4 8.4 5.5 2.1 8.3 1.8 3.5 3.5 1.8 3.7 -3.3 0.7 0.1 5.0 1.4 6.5 2.7 2027 2.4 1.1 1.6 1.8 7.8 5.4 2.1 8.0 2.3 3.3 3.5 2.0 4.8 -0.7 0.3 1.7 5.9 1.2 4.5 3.4 2028 1.9 1.6 1.6 1.5 7.5 5.0 2.1 7.5 2.3 3.0 3.0 2.0 3.7 2.0 0.4 1.4 4.5 3.8 3.5 2.8 2029 1.6 1.6 1.6 1.2 7.4 4.6 2.1 7.0 2.4 2.8 2.5 2.0 2.9 3.0 0.4 1.0 4.0 4.6 3.4 2.3 2025 1.6 1.7 2.3 1.4 8.4 4.6 1.8 8.5 1.8 3.8 4.0 1.8 1.3 4.1 -0.3 -1.9 3.4 3.6 8.0 -1.8 2026 4.0 2.5 3.2 3.0 7.4 4.5 1.1 7.3 1.3 3.0 3.0 1.3 9.2 5.3 5.1 5.2 10.8 6.6 9.9 7.0 2027 2.9 1.6 2.1 2.3 6.9 4.5 1.2 7.1 1.3 2.3 2.5 1.0 8.3 5.3 4.1 5.4 8.7 3.5 5.8 6.1 2028 1.7 1.4 1.4 1.3 6.9 4.4 1.5 6.9 1.3 2.0 2.0 1.0 3.7 1.2 0.3 1.0 4.6 3.6 4.1 2.2 2029 1.6 1.6 1.6 1.2 7.1 4.3 1.8 6.7 1.4 1.8 2.0 1.0 3.1 3.0 0.7 1.1 3.4 4.5 4.0 1.7 Scenario Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin Swe UK Nor Fin 2025 -0.5 -1.0 -0.5 -0.9 9.6 6.1 3.1 9.6 3.3 5.3 5.8 3.3 -8.5 -3.8 -15.0 -8.8 -3.5 -1.5 0.3 -5.5 2026 -1.9 -2.9 -2.6 -2.6 10.4 6.8 4.1 10.2 4.3 5.8 6.0 4.3 -11.9 -10.6 -10.2 -9.8 -4.4 -6.6 -2.0 -5.8 2027 2.1 0.9 0.9 1.3 10.3 7.1 4.6 10.0 4.3 5.0 5.3 4.0 5.3 0.9 0.0 2.6 4.6 1.1 0.6 4.5 2028 2.6 2.3 2.3 2.2 9.7 6.6 4.4 9.2 3.3 3.8 3.8 3.0 3.8 4.0 3.5 4.5 3.3 3.6 2.9 6.5 2029 2.1 2.1 2.1 1.7 9.2 6.0 4.1 8.5 2.8 3.3 2.8 2.5 6.4 4.9 3.2 3.8 8.0 4.8 4.0 5.7 2025 1.5 1.0 1.5 1.1 8.6 5.1 2.1 8.6 1.8 3.8 4.3 1.8 0.1 3.3 -2.1 -2.3 0.3 3.1 5.9 -0.6 2026 2.1 1.1 1.4 1.4 8.4 4.8 2.1 8.2 1.8 3.3 3.5 1.8 4.0 1.3 1.2 1.3 4.7 3.7 5.7 2.8 2027 2.6 1.4 1.4 1.8 7.8 4.6 2.1 7.5 2.3 3.0 3.3 2.0 6.0 0.4 0.8 3.1 5.9 2.4 3.7 3.4 2028 1.9 1.6 1.6 1.5 7.5 4.4 2.2 7.0 2.3 2.8 2.8 2.0 4.3 1.5 1.0 2.4 3.3 4.0 2.9 2.9 2029 1.6 1.6 1.6 1.2 7.4 4.2 2.3 6.7 2.3 2.8 2.3 2.0 3.4 4.1 0.9 1.9 3.2 4.8 3.6 2.6 2025 2.5 2.0 2.5 2.1 8.2 4.7 1.7 8.2 1.5 3.3 4.0 1.5 3.1 7.1 1.3 1.1 4.7 5.9 8.9 3.2 2026 3.5 2.5 2.8 2.8 7.4 3.8 1.1 7.2 1.3 2.0 3.0 1.3 9.0 9.9 5.5 5.4 8.5 7.8 9.1 6.1 2027 2.6 1.4 1.4 1.8 7.2 4.0 1.5 6.9 1.3 1.8 2.3 1.0 8.9 2.8 2.6 5.8 8.7 2.6 3.7 4.0 2028 1.7 1.4 1.4 1.3 7.2 4.1 1.9 6.7 1.3 1.8 1.8 1.0 4.3 0.7 1.0 2.1 3.5 3.8 3.5 2.3 2029 1.6 1.6 1.6 1.2 7.4 4.2 2.3 6.7 1.3 1.8 1.3 1.0 3.7 4.1 1.2 2.1 2.5 4.7 4.2 1.9 Downturn Neutral Upturn GDP growth, % Downturn Neutral Upturn Annual forecasts 2025-2029 Annual forecasts 2025-2029 GDP growth, % Unemployment, % Central bank interest rates % Commercial property price development, % House price development, % Unemployment, % Central bank interest rates % Commercial property price development, % House price development, % Unem- ploy- ment Central bank interest rates Property prices House prices 2025 -1.0 6.1 5.3 -3.8 -1.5 2026 -2.9 6.8 5.8 -10.6 -6.6 2027 0.9 7.1 5.0 0.9 1.1 2028 2.3 6.6 3.8 4.0 3.6 2029 2.1 6.0 3.3 4.9 4.8 GDP growth • • • •
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42% 29% 24% 6% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Sweden Norway UK the Netherlands 64% 25% 6% 6% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 Sweden UK the Netherlands Norway
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SEK bn Sweden UK Norway Netherlands Group % Government guarantees 19 0 5 24 3% Residential 178 69 16 16 280 42% Office, retail, hotel 89 53 74 17 233 35% Other real estate 12 0 9 39 61 9% Industry, logistics 18 19 9 1 47 7% Agriculture, forestry 1 1 0 - 2 0% Other collateral 1 0 0 - 1 0% Unsecured 12 5 10 0 27 4% Undeveloped - - 0 - 0 0% Total 331 148 122 74 674
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▪ ▪ ▪ ▪ ▪ Leverage ratio Requirement
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Requirement, SEKm Q325 Total 18,916 T1 13,386 CET1 117,978 FI requirement, % of REA Q325 Target Total 18.7% > +1 %-point T1 16.4% > +1 %-point CET1 14.7% 1-3 %-points above req Actual, % of REA Buffer to requirement (%) Buffer to requirement (SEKm) Total capital ratio, CRR 22.6% 3.8% 30,722 Tier 1 ratio, CRR 19.4% 3.0% 24,064 Common equity tier 1 ratio, CRR 18.2% 3.5% 28,063
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Credit risk, IRB Credit risk, Standardised Mortgage risk weight floor Sweden Mortgage risk weight floor Norway (20%) CRE-floors Sweden CRE-floors NorwayOperational risk CVA and market risks 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 REA
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4.5 4.1 2.5 2.0 1.0 18.2 0 5 10 15 20 25 Minimum capital req. Systemic risk buffer** Capital base, SEKbn Countercyclical buffer Pillar 2R 14.2 18.2 1.7 1.2 0 5 10 15 20 25 15.9 18.2 2.4 1.2 3.2 0 5 10 15 20 25 • • • • • • • • • • •
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AT1 format Issue month Currency Amount (m) First potential call date SHBASS 4.375%, PNC6.5 Sep 2020 USD 500 Mar 1 2027 SHBASS 4.750%, PNC10.5 Sep 2020 USD 500 Mar 1 2031 T2 format Issue month Currency Amount (m) First potential call date SHBASS 4.625%, 10NC5 Aug 2022 GBP 500 Aug 23 2027 SHBASS 3.25%, 11NC6 May 2022 EUR 500 Jun 1 2028 SHBASS 5.000%, 11NC6 Aug 2023 EUR 750 Aug 29 2029 SHBASS 3.625%, 12NC7 (Green) Oct 2024 EUR 500 Nov 4 2031 SNP format Issue month Currency Amount (m) Maturity/1st call date SHBASS 1.418%, 6NC5 Jun 2021 USD 1 000 Jun 11 2026 SHBASS 0.05% Aug 2019 EUR 750 Sep 3 2026 SHBASS 0.01% (Green) Nov 2020 EUR 500 Dec 2 2027 SHBASS, 5.500% Jun 2023 USD 1 000 Jun 15 2028 SHBASS, 1.375% Feb 2022 EUR 1 000 Feb 23 2029 SHBASS 0.50% Feb 2020 EUR 1 000 Feb 18 2030 SHBASS 3.250% (Green) Aug 2024 EUR 750 Aug 27 2031 SHBASS 3.250% (Green) Aug 2025 EUR 750 Aug 12 2032 SHBASS 3.750% (Green) Feb 2024 EUR 750 Feb 15 2034 SHBASS 3.696% Sep 2022 EUR 150 Sep 12 2034
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Covered bonds 668 Senior preferred 168 Senior non- preferred 82 Subordinated debt 35 Certificat es 576 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Swedish cover pool in SEK 556 Swedish cover pool in EUR 48 Norwegia n cover pool in NOK 22 Norwegian cover pool in EUR 43 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% -50 50 150 250 350 450 2025 2026 2027 2028 2029- Covered SP SNP Subordinated USD 27% USD 22% EUR 58% EUR 78% Other 15% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Senior preferred Senior non-preferred
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Long-term bond issuance, SEK bn 2022 2023 2024 Jan-Sep 2025 Senior bonds 57 67 34 42 Covered bonds 131 163 121 88 Subordinated 11 9 6 0 Total 199 239 161 130 Long-term bond issuance, SEK bn Jan-Sep 2025 Jan-Sep 2024 Change Senior bonds 42 34 8 Covered bonds 88 99 -11 Subordinated 0 0 0 Total 130 133 -3 Feb 8, 2024 Svenska Handelsbanken EUR 750 MS+110bp Feb 15, 2034 Senior non-preferred Green* Mar 8, 2024 Svenska Handelsbanken EUR 500 3mEUR+45bp Mar 8, 2027 Senior preferred (pp) Mar 21, 2024 Stadshypotek EUR 750 MS+26bp Mar 21, 2029 Covered bond Norwegian pool May 20, 2024 Svenska Handelsbanken USD 400 SOFR+66bp May 28, 2027 Senior preferred May 20, 2024 Svenska Handelsbanken USD 600 T+55bp May 28, 2027 Senior preferred Aug 20, 2024 Svenska Handelsbanken EUR 750 MS+87bp Aug 27, 2031 Senior non-preferred Green* Sep 5, 2024 Stadshypotek NOK 7,000 3M Nibor+38bp Sep 12, 2029 Covered bond Norwegian pool Oct 25, 2024 Svenska Handelsbanken EUR 500 MS+140bp Nov 4, 2031 (1st call) Subordinated Tier 2 12NC7, Green Feb 6, 2025 Svenska Handelsbanken EUR 750 EURIBOR+42bp Feb 17, 2028 Senior preferred Feb 6, 2025 Svenska Handelsbanken EUR 500 MS+68bp Feb 17, 2032 Senior preferred Mar 24, 2025 Stadshypotek EUR 1,000 MS+40bp Mar 31, 2032 Covered bond Swedish pool May 19, 2025 Svenska Handelsbanken USD 500 SOFR+74bp May 23, 2028 Senior preferred May 19, 2025 Svenska Handelsbanken USD 750 T+50bp May 23, 2028 Senior preferred Aug 12, 2025 Svenska Handelsbanken EUR 750 MS+77bp Aug 19, 2032 Senior non-preferred Green* Aug 26, 2025 Svenska Handelsbanken AUD 600 ASW +82bp Sep 2, 2030 Senior preferred Aug 26, 2025 Svenska Handelsbanken AUD 650 BBWSW +82bp Sep 2, 2030 Senior preferred
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0 10 20 30 40 50 60 70 80 2025 2026 2027 2028 2029- SP SNP 0 5 10 2025 2026 2027 2028 2029- SP Other 0 5 10 15 20 25 2025 2026 2027 2028 2029- SP USD SNP USD 0 10 20 30 40 50 60 70 2025 2026 2027 2028 2029- SP EUR SNP EUR
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2x (P1 min+P2R) 153 MCB** 58 CBR* 70 Leverage ratio x2 217 Own funds (T1+T2) 181 SNP>1yr 71 SP>1yr 133281 385 0 50 100 150 200 250 300 350 400 450 Risk based Leverage based Available funds 2x (P1 min+P2R) 153 CBR* 70 Leverage ratio x2 217 Own funds 181 SNP>1yr 71 223 252 0 50 100 150 200 250 300 350 400 450 Risk based Leverage based Available funds
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200 300 400 500 600 700 800 900 1,000 2011 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Handelsbanken
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-0.1 0.4 0.9 1.4 1.9 2.4 2.9 3.4 40 45 50 55 60 65 70 75 01/2019 01/2020 01/2021 01/2022 01/2023 01/2024 01/2025 Debt/Income (new) - right scale LTV stock LTV new
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Current available pool size SEK 1316bn (EUR 119bn) Assets utilized SEK 664bn (EUR 60bn) Asset types Loans secured by mortgages. Loans to or guaranteed by public sector in Sweden (state & municipalities) Asset distribution 99.7% Residential, 0.3% Public, 0% Agricultural, 0% Commercial Geographical distribution Throughout Sweden with a concentration to urban areas Average loan size SEK 845,400 (EUR 76,507) WA Max-LTV 54.5% Amortizing 70.0% Share of loan volume past due > 1 day 0.00% Legal OC Yes, Min 2% Nominal OC 10.0% Pool type Dynamic, new pool daily Loans originated by Handelsbanken’s branch network Floating rate (<1 year fixing) 66% Fixed rate (>1 year fixing) 34% Domestic benchmarks in SEK SEK 462bn (EUR 42bn) Issues in other currencies SEK 48bn (EUR 4bn) Other bonds SEK 93bn (EUR 8bn) Total outstanding SEK 604bn (EUR 55bn) Interest index distribution Outstanding issues of covered bonds (incl. repos) 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0-10% 20-30% 30-40% 40-50% 50-60% 60-70% 70-75% 75-80% >80%
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Current available pool size NOK 137bn (EUR 12bn) Assets utilized NOK 75bn (EUR 6bn) Asset types Loans secured by mortgages Asset distribution 81.4% Residential, 0% Public, 0% Agricultural, 0% Commercial, 18.6% Tenant stock Geographical distribution Throughout Norway with a concentration to urban areas Average loan size NOK 3,241,400 (EUR 276,912) WA Max-LTV 57.4% Amortizing 98.3% Share of loan volume past due > 1 day 0.00% Legal OC Yes, Min 2% Nominal OC 10.0% Pool type Dynamic, new pool daily Loans originated by Handelsbanken’s branch network Floating rate (<1 year fixing) 92% Fixed rate (>1 year fixing) 8% Domestic benchmarks in NOK NOK 23bn (EUR 2bn) Other benchmarks in EUR NOK 45bn (EUR 4bn) Other bonds NOK 0bn (EUR 0bn) Total outstanding NOK 68bn (EUR 6bn) Interest index distribution Outstanding issues of covered bonds 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0-10% 20-30% 30-40% 40-50% 50-60% 60-70% 70-75% 75-80% >80%
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• • • • • • • • • • 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Green Mortgages Green Buildings Water and Waste Management Renewable Energy Pollution Prevention and Control Environmentally sustainable management Clean Transports Energy Efficiency
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