MING SpareBank 1 SMN

SpareBank 1 SMN: Presentation of 2nd Quarter 2020 accounts

SpareBank 1 SMN: Presentation of 2nd Quarter 2020 accounts

SpareBank 1 SMN is presenting 2nd quarter 2020 financial results.

Time:    Tuesday 11 August at 1:30 PM CET

Place:    Webinar

Please register by 9 August on the link below:

The presentation will be held in Norwegian by group CEO Jan-Frode Janson and CFO Kjell Fordal.



We will also host a Global Investor Webinar in English on the same day at 3:30 PM CET.

Please register by 9 August on the following link:



Questions to the management in relation to both presentations can be sent to .



This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

EN
17/07/2020

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Reports on SpareBank 1 SMN

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
Håkon Astrup
  • Håkon Astrup

Sparebank 1 SMN (Buy, TP: NOK202.00) - Solid core revenue growth

Q1 PTP was NOK1,269m, 6% lower YOY, as stronger ‘real NII’ and fees were offset by soft trading and higher opex. On a QOQ basis, two fewer interest days, and somewhat softer growth, led to a ‘real NII’ decline. With a CET1 ratio of 18.1%, we see continued capital headroom, supportive of solid distributions. We have trimmed our 2026–2027e EPS by ~1% on the NII trend, but reiterate our BUY and NOK202 target price.

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland

Weaker NII and cost to impact revisions

Adj. PTP -3% vs. ABGSCe, -2% vs. cons; Higher cost to impact revisions; Cons. '25e-27e EPS chg. down 2-4%, stock down 2-4% today

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland

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