Svenska Handelsbanken staff made a presentation at a Beyond Budgeting Round Table (BBRT) meeting in Texas about a decade ago. Handlesbanken was a model to BBRT as they had the experience of running their organization since 1972 without fixed budgets and without detailed budget planning. Budgets which would normally take 10 months to complete were prepared in less than two weeks on the Handlesbanken model. Svenska Handelsbanken was classified as one of the most profitable banks in Europe, and it is alarming to see that this bank has been profitable even in this worst economic downturn. The bank’s core philosophy is a focus on customers, profitability at the level of each operating unit and long-term relationships, not short-term gains.