HANDELSBANKEN Meaning and
Definition
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Handelsbanken, also known as Svenska Handelsbanken AB, is a Swedish banking institution that provides various financial services to individuals, businesses, and institutions. Founded in 1871, Handelsbanken is one of the largest banks in Sweden and it operates internationally with branches in several countries, including the United Kingdom, Finland, Denmark, Norway, and the Netherlands.
As a universal bank, Handelsbanken offers a wide range of banking and financial products and services. These include personal and corporate banking, investment banking, asset management, insurance, and retail banking. The bank caters to the needs of individual customers, businesses, and public sector entities.
Handelsbanken is known for its decentralized decision-making structure, referred to as a "branch banking model." Each branch operates autonomously, enabling local branch managers to make decisions tailored to the specific needs of their customers. This approach aims to foster a customer-centric culture and strengthen the bank's commitment to individualized service.
In terms of financial stability, Handelsbanken has a solid reputation and maintains high credit ratings. It adheres to strict risk management practices and regulatory requirements. The bank's commitment to responsible banking and sustainable practices is reflected in its environmental and social initiatives.
Overall, Handelsbanken is a prominent and reputable banking institution in Sweden and internationally, known for its comprehensive range of financial services, customer-centric approach, decentralized decision-making, and commitment to responsible banking practices.
Etymology of HANDELSBANKEN
The word "Handelsbanken" is of Swedish origin and is a combination of two words: "Handel" and "Banken".
1. "Handel": It means "trade" or "commerce" in Swedish. This term traces its roots back to the Old Swedish word "handhel" and the Old Norse word "handhæll", both of which have the same meaning.
2. "Banken": It simply means "the bank" in Swedish. The word "banken" comes from the Old Swedish word "bankhi" and the Old Norse word "bakki", which refers to a bench or a counter, hinting at the historical function of banks.
Therefore, the term "Handelsbanken" can be understood as "the trade bank" or "the commerce bank" in English. It reflects the focus of the bank on providing financial services and support for trade and commerce activities.
