Handelsbanken Will Exit Denmark, Finland to Pursue U.K. Growth
- Lender will divest units that had weighed on profit margin
- Swedish bank will also look to build in Norway, CEO Says
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Svenska Handelsbanken AB will exit operations in Denmark and Finland as the Swedish lender seeks to focus on growing in other European markets.
The 150-year-old bank said Tuesday that it has begun a process to divest its units in the countries. The company pointed to its small market share in those nations and new regulations that make operating across regions more cumbersome.