Pareto Bank (Buy, TP: NOK51.00) - Growth flexibility added
Pareto Bank has raised NOK400m in a private placement, with the proceeds used to support further lending growth. On our estimates, PARB has added ~NOK2.4bn in additional growth capacity, and provided itself with comfortable headroom to its regulatory capital requirements. Hence, we believe the bank is well positioned to take advantage of a strong near-term growth pipeline and deliver on a more stable dividend policy going forward. We reiterate our BUY recommendation and our NOK51 target price.
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.