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 £23.98bn
Enterprise Value £55.88bn
Revenue £5.01bn
Position in Universe 31st / 1832

BUZZ-Nordic Banks: Barclays stays selective as corporate lending dives

Wed 9th September, 2020 8:10am
** Barclays initiates coverage of six Nordic banks and
looking at corporate exposures stays selective in the space
   ** The brokerage doesn't expect Nordic banks to repeat what
happened at the outset of the Global Financial Crisis of
2007-08, where they expanded corporate lending by an average of
about 20%
    ** Given the dynamics of the current crisis, it believes the
corporate lending will actually deteriorate as lead indicators
point towards a slowdown and dependence on commercial real
estate seems unsustainable
   ** Barclays sees the slowdown coupled with margin pressure to
be most impactful for SEB  SEBa.ST  and DNB  DNB.OL , with the
latter standing out on the downside  
   ** The brokerage starts coverage of both with rating
"underweight", while initiating Danske Bank  DANSKE.CO , Nordea
Bank  NDAFI.HE  and Handelsbanken  SHBa.ST  with "equalweight"
    ** The brokerage has a more positive stance on Swedbank
 SWEDa.ST  ("overweight"), expecting profitability to hold up
well and seeing scope for costs reduction

 ((marta.frackowiak@thomsonreuters.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.