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Handelsbanken: Handelsbanken refutes erroneous information in Dagens Industri

Press release Stockholm, 12 December 2016 

The Dagens Industri newspaper (DI) has published on 12 December 2016
on its website and on 13 December in its paper edition, erroneous
information regarding the Chairman of the Handelsbanken Board, Pär
Boman, and his pension terms.

Dagens Industri erroneously writes that Pär Boman, after stepping down
as Group Chief Executive in March 2015, "was compensated for his loss
of salary through a change in his pension - something that increased
costs to shareholders by SEK 54 million."

DI's information, statements and conclusions are groundless and
completely erroneous.

The facts are as follows:

In March 2015, prior to the Bank's annual general meeting, the then
Group Chief Executive Pär Boman chose to terminate his employment
with the Bank when he had been proposed as Chairman of the Board. His
reason for doing this was to secure a greater degree of independence
for the role of Chairman of the Board. All agreements relating to Pär
Boman's employment as Group Chief Executive were signed before the
time that he chose to step down at his own initiative - and were
signed by the elected Chairman of the Board on each occasion. Thus,
no new agreement was signed when he stepped down from the position.

All remuneration and pension obligations have also been reported in
accordance with prevailing laws and regulations in the Bank's annual

The increase in pension obligations for Handelsbanken is generally due
to actuarial assumptions - particularly a reduced discount rate. The
funds that have been allocated to Pär Boman's pension also include a
recovery - a `curtailment gain.' This means a saving for the Bank and
its shareholders of approx. SEK 30 million. Consequently, the claims
that the termination of Pär Boman's employment cost shareholders SEK
54 million are false.

In addition to the straight factual errors in the article, there are
also examples of the reader being misled. Among other things, the
article gives the impression that Pär Boman was a member of the
Bank's remuneration committee when the matter of his pension was on
the agenda. This is incorrect. The Bank's Group Chief Executive is
not a member of the remuneration committee, and naturally does not
take part in the Board's consideration of the Group Chief Executive's
remuneration and pension.

For further information, please contact:

Johan Lagerström, Chief Communications Officer, +46 8-701 13 95,
+46 70-265 80 14
Johan Wallqvist, Head of Group Media Relations, +46 8-701 80 47,
+46 72-206 34 50

This information is of the type that Handelsbanken is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 23:59 CET on 12 December 2016. For more information about Handelsbanken, see: (


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