SpareBank 1 Sørøst-Norge (No_rec, TP: NOK) - Discontinuing coverage
Given SOON’s pending merger with SRBNK and its expected subsequent delisting, we have discontinued coverage. Our last published recommendation, target price, and estimates should no longer be relied upon.Sparebank 1 BV, formerly Sparebank1 Buskerud-Vestfold (the Bank), is a Norway-based regional bank. It is primarily active in Buskerud, Kongsberg, Drammen and Vestfold in Norway. It is engaged in the provision of a range of banking and related products and services to both private clients and small and middle-sized enterprises. Its products and services include financing, payment processing, savings accounts, insurance and real estate services. The Bank is active through branches in Drammen, Kongsberg, Hvittingfoss, Horten, Tonsberg, Sandefjord, Larvik and Stavern. As of December 31, 2011, the Bank had three direct wholly owned subsidiaries, namely EiendomsMegler 1 Buskerud Vestfold AS, Georg Solberg AS and Imingen Holding AS. Additionally, it had one indirect subsidiary, Parkeringsplassen AS, and three associated companies. Sparebank1 BV is a member of the SpareBank1 bank alliance, which comprises 15 independent Norwegian banks.
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.
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