The major Swedish bank Handelsbanken will close many branches and cut jobs because banking affairs are increasingly handled remotely. The number of Swedish branches should decrease to approximately 200 from the current 380 by the end of next year. A thousand jobs will be lost on the home market at Handelsbanken.
In connection with the intervention, Sweden’s largest bank will incur an extraordinary charge of Krona 1.5 billion, equivalent to approximately EUR 144 million. The move should also help reduce costs. At the same time, Handelsbanken is investing more in IT services. An amount of 1 billion kroner is allocated for this.
Handelsbanken is also active in the other European countries.