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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.

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