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Carillion Exposure Sends Losses Soaring at Handelsbanken

  • Swedish Bank says Carillion was a “big part” of losses
  • British impairments drove up Handelsbanken’s group losses
A no-entry sign and Carillion Plc logo sit at the Midland Metropolitan Hospital construction site, operated by Carillion Plc, in Smethwick, U.K., on Thursday, Jan. 18, 2018.

A no-entry sign and Carillion Plc logo sit at the Midland Metropolitan Hospital construction site, operated by Carillion Plc, in Smethwick, U.K., on Thursday, Jan. 18, 2018.

Photographer: James Beck/Bloomberg
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Sweden’s second-biggest bank reported a 30 percent jump in loan losses at the end of last year, mostly because of its exposure to the U.K. market.

Svenska Handelsbanken AB said much of the damage could be traced back to loans made to Carillion Plc, the construction company that imploded this year.