Sweden’s Handelsbanken has posted a resilient
fiscal 2009 net profit of SEK4.24 billion ($582.19 million), 60
percent up from SEK2.65 billion a year
earlier.   

The bank has remained profitable throughout the
financial crisis without receiving any government
support.   

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The result coincided with news that the bank,
the second largest in Sweden by market capitalisation, plans to
expand in the UK in its drive to grow its retail banking market and
boost business volumes.    

The bank said it had plans to open its third
regional bank in the UK, to supplement more than 70 branches it has
opened so far across the country. 

Chief executive Pär Boman, said that the UK
would provide the bank with “good growth in the future”. 

He added that the bank will also set up a
separate head office in the UK to develop its “decentralised model”
based on almost all important business decisions taken close to
customers. 

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Sweden has six regional banks and Norway,
Denmark and France have one each.