DNB ASA logo

DNB - DNB ASA News Story

NOK182.7 3.3  1.9%

Last Trade - 14/05/21

Sector
Financials
Size
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
 DNB.OL , ING  INGA.AS  and BNP  BNPP.PA 

 ((marta.frackowiak@tr.com))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.