Handelsbanken enters into an agreement to sell its private, SME and life insurance operations in Finland

The transaction includes lending volumes of approximately EUR 4.1 billion corresponding to a risk-weighted exposure amount of approximately EUR 1.3 billion and deposit volumes of approximately EUR 2.8 billion (based on balances as of March 2023). The transaction represents approximately 30 per cent of the lending volumes and approximately 50 per cent of the risk-weighted exposure amounts in the Bank’s operations in Finland. Buyers are S-Bank Plc, Oma Savings Bank Plc and Fennia Life Insurance Company Ltd respectively. Completion of the transaction is contingent on customary regulatory approvals.

Handelsbanken was advised by Mannheimer Swartling in the transaction. Dittmar & Indrenius assisted in relation to Finnish law matters.