The Swedish international bank Handelsbanken replaced budgeting with new organizational structures and performance metrics. To promote a sense of ownership and accountability, it created 600 profit centers—making them responsible for reducing costs, satisfying customer needs, and boosting income.
Handelsbanken's goal is to have higher profitability than the average of peer banks in our home markets. The goal is to be achieved by having more satisfied customers and lower costs than those of competitors.
unit-level / branch-level