1. Information in this section is from Wallander, “Budgeting—An Unnecessary Evil,” 1999.
Sweden’s Handelsbanken has placed a large sum of money in an account at the Riksbank in a bid to help the central bank safeguard the financial system.
—Stockholm, June 17, 2009 (Reuters)
Svenska Handelsbanken is one of the top 25 banks in Europe. It was not just the only bank that survived the Swedish banking crisis in the 1990s without asking for government support—it has also done very well in the 2008/2009 crisis. Handelsbanken did not have to raise capital or ask for government support and its shares have been the best performing European bank stock by a wide margin. Despite its large size Handelsbanken ...