Handelsbanken's Stockholm headquarters

Reinfeldt: No obligation to join state’s bank support program

Prime minister Fredrik Reinfeldt sees no problem with the fact that one of the country’s leading banks may not join the government’s bank support program. Reinfeldt said on Wednesday that there was no obligation for any bank to adopt the the program.

He said that the support package was implemented because of the global financial crisis to ensure the liquidity needed to keep the bank structure intact, but that it was up to each individual bank to decide whether it would utilize it.

Swedish Handelsbanken announced on Wednesday that profits for the third quarter of this year had exceeded expectations. Bank officials hinted that external support measures would not be required.  

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