DBRS: Handelsbanken unchanged

DBRS said that the ratings for Svenska Handelsbanken AB, including its AA (low) senior unsecured debt and deposits rating, remain unchanged after the bank's 2012 first quarter results.

The trend remains stable.

DBRS said that Handelsbanken once again reported very solid results evidencing the strength of the franchise and the strong earnings generation ability of the bank's diverse business model.

For the quarter ending March 31, the bank's operating profit totaled SEK 4.6 billion, increasing by 16% year-on-year and 11% quarter-on-quarter.

The quarterly results benefited from solid growth in net interest income, which, at SEK 6.6 billion, is the largest driver of total income, the agency said.

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