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Swedish bank may be targeting UK building society

Swedish bank Svenska Handelsbanken may be looking to expand its UK presence by targeting a building society with a takeover bid according to a story in a national newspaper.

The bank, which is one of Scandinavia&#39s largest, has made recent statements saying it views the UK market as that with the most potential outside of the Nordic region.

Svenska Handelsbanken head of UK Ulf Sylvan said: “A building society would give us a branch network and a customer base. What we would give a building society would be additional products to sell.”

Sylvan said it had not yet approached any society but was looking at the market.

Its financial position means it could afford societies as large as Portman, Chelsea or Skipton the story says.


As and means

Mr and Mrs A have recently sold their business and are retiring at age 65 and 63 respectively. They have a total of £180,000 in cash and do not wish to take much risk. Mr A has two paid-up personal pensions with Lincoln and Scottish Widows, both offering guaranteed annuity rates although the Scottish Widows […]

&#39Name and shame&#39 on endowments

The Consumers&#39 Association is calling on the FSA to create league tables to name and shame companies whose endowment policies are likely to suffer shortfalls.It also wants reform of the financial advice sector to be put on hold until the FSA has addressed the issue of commission-driven sales.The consumer pressure group has written to FSA […]

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