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Handelsbanken and Stadshypotek in proposed merger deal

5th September 2007
By Julia Chan

Scandinavian banking groups Stadshypotek Bank and Handelsbanken have applied to the Swedish Financial Supervisory Authority for approval to merge Stadshypotek Bank's operations into Handelsbanken.

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If successful, Stadshypotek Bank's brand will cease, and existing customers' banking businesses will be transferred over to Handelsbanken. This is expected to take place during the first half of 2008.

However, Stadshypotek Bank's mortgage financing operation, Stadshypotek AB, will not be part of the merger deal.

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