19 September 2012

Swedish bank Handelsbanken opening a branch in Sydney, Australia

19 September 2012 - Handelsbanken is opening a branch in Sydney, Australia, thus becoming the only Nordic full-service bank in the world's sixth largest country. Australia's economy grew by 4 per cent last year, and there are 1,400 companies there with links to Handelsbanken's home markets - the Nordic countries and the UK. 

"Many of our customers are already established on the Australian market, and therefore we feel that our local presence is vital. We can offer our customers a wide range of corporate services, and if necessary we can also help customers to establish a local network of contacts," says Robert Karlsson, Head of Handelsbanken's representative office in Sydney. 

Sydney is Australia's oldest and largest city, and a leading financial centre. 

Robert Karlsson will build up the operation from scratch. He is responsible for everything from practical matters regarding the establishment of the branch to winning new business and marketing Handelsbanken in Australia. In this way Handelsbanken has grown organically for many years, with great success. 

"Handelsbanken is now present in 23 countries. We are strengthening our position in South-east Asia, where we are a leading Nordic player," says Magnus Uggla, Head of Handelsbanken International. 

Australia has a strong economy, boosted by a substantial mining industry and its proximity to China and other emerging markets in Asia. The country has coped relatively well with the current financial crisis, thanks to foreign investments and a stable banking sector. Last year, per capita GDP according to the IMF was USD 40,234 (Sweden: USD 40,394). 

Handelsbanken is a full-service bank for both personal and corporate customers and has a nationwide branch network in Sweden, Denmark, Finland, Norway and Great Britain. The Bank regards these countries as its domestic markets. Handelsbanken was founded in 1871 and currently has over 11,000 employees working in 23 countries. 

Source: Handelsbanken