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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 30th / 1832

BUZZ-Nordic banks: Set to emerge intact among European peers - DB

Wed 8th April, 2020 10:56am
** Deutsche Bank says it believes that Nordic banks sector
is set to emerge intact among European peers, adding that they
have the best asset-quality fundamentals in the coronavirus
crisis
    ** "Nordic banks have well-capitalised and highly liquid
balance sheets, they have greater reliance on deposit funding
vs. European peers, they are pre-funded with no long-term
funding needed until late 2020," DB says
    ** It adds that it does expect Nordic economies to contract
this year as increasingly stringent lockdown measures to combat 
COVID-19 are depressing consumer and business spending levels in
Europe and the U.S.
    ** The brokerage upgrades Handelsbanken to "buy" from "hold"
as it sees the bank witnessing relatively less headwind on
negative risk migration via its corporate IRB exposure thanks to
the structure of its loan mix and solid capitalisation
    ** It downgrades Nordea  NDAFI.HE  to "hold" from "buy" due
to exposed revenue mix, negative credit mix and greater exposure
to parts of Nordic region that are likely to see intense
economic contractions
    ** DB cuts target prices by c.20% on average, with DNB
 DNB.OL  ("hold") on the high end, Handelsbanken and Swedbank
 SWEDa.ST  on the low end
    ** The broker reiterates "buy" on SEB  SEBa.ST  and
Swedbank, removes Nordea from European banks top picks, and adds
Handelsbanken to the list
    

    

 ((Tommyalexander.lund@thomsonreuters.com))
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