SVNLF - Svenska Handelsbanken: Even The Risk-Averse Bank Is Only A 'Hold'

2024-06-17 12:07:21 ET

Summary

• Svenska Handelsbanken is still reporting solid results, is paying an extremely high dividend, and has still an extremely low credit loss ratio.
• And although Svenska Handelsbanken is still a great a business, I would be cautious about any investments in banks.
• Similar to many other banks, the exposure to the housing market could be a problem and therefore Svenska Handelsbanken is still a "Hold."

I frequently cover different banks around the world – mostly in the United States and Canada. But in the last few years I have only been a shareholder of one Swedish bank – Svenska Handelsbanken ( OTCPK:SVNLF ). My last article about Svenska Handelsbanken was published about a year ago and in the article I was bullish. Looking back, the bullish call was probably the right choice at that point. Nevertheless, I sold my position several months ago....

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