DNB (No_rec, TP: NOK) - Focus on key 2027 financial targets
With 2022–2024 YTD ROEs of ~15–17%, DNB has continuously hit its >13% target set in 2022, with ample headroom. While expecting some margin pressure, we believe still-high interest rates, capital-light revenue momentum and robust asset quality bode well for continued strong earnings generation. At the CMD scheduled for 19 November, we expect the main focus to be on the new financial targets towards 2027, and see scope for its ROE target to be raised to >14%.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.