Han­dels­banken Brexit proofs in UK

Yorkshire Post - Business - - NEWS -

Bank­ing: Swe­den’s Han­dels­banken said it had con­verted its Bri­tish branch into a sub­sidiary that would op­er­ate as a stand­alone busi­ness, help­ing to shield the bank from any Brexit dis­rup­tion next March.

An in­de­pen­dently cap­i­talised sub­sidiary in Bri­tain could op­er­ate as a stand­alone busi­ness and be bet­ter in­su­lated from any dis­rup­tion in cross-bor­der links than a branch linked to a par­ent in another coun­try.

“This change means that Han­dels­banken is cre­at­ing a strong ba­sis and a long-term plat­form to sup­port the bank’s UK cus­tomers, re­gard­less of the out­come of Brexit,” the bank said.

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