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DNB - DNB ASA News Story

NOK182.7 3.3  1.9%

Last Trade - 14/05/21

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

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