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DNB - DNB ASA News Story

NOK182.7 3.3  1.9%

Last Trade - 14/05/21

Large Cap
Market Cap £24.25bn
Enterprise Value £55.92bn
Revenue £4.98bn
Position in Universe 29th / 1828

BUZZ--Nordea Bank: 'CMD not the catalyst we were hoping for', RBC cuts

Tue 29th October, 2019 7:35am
** RBC cuts Nordea Bank  NDAFI.HE  to "underperform" from
"sector perform" saying the company's restructuring plan at its
investor day turned out not to be the catalyst it was hoping for
    ** "We find the plan long on targets but relatively short on
specifics, particularly on re-starting the much needed revenue
momentum", RBC says
    ** The brokerage adds that the revenue headwinds from the
restructuring as underappreciated and too high to allow for a
C/I (cost/income) ratio of 50%
    ** It sees ROE (return on equity) target unrealistic even
assuming a best case scenario payout -- it expects Nordea Bank's
ROE to reach 9.5% in 2022, below its >10% target
    ** At current multiples, the brokerage says sees better
value elsewhere among European banks and says prefers DNB

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