With expenses under control, Nordea Bank remains focused on increasing returns and capital ratios.
Nordea reported third-quarter 2016 results that were in line with our expectations. Following what we consider a stable set of quarterly results, we maintain our fair value estimate at SEK 84 per share while noting shares are slightly overvalued at this point. We will also maintain our narrow moat rating for the bank.On a year-over-year basis, both return on equity and capital ratios improved 110 basis point and 150 basis points, respectively. The bank delivered quarterly net income of EUR 888...
Nordea Bank is a financial services group based in Sweden. Co. has three business areas: retail banking, wholesale banking, and wealth management. Retail banking conducts a full service banking operation and serves household and corporate customers in the Nordic markets as well as the Baltic countries. Wholesale banking provides banking and other financial solutions to large Nordic and international corporate, institutional and public companies. Wealth management provides investment, savings and risk management products. It also manages customers' assets and provides financial advice to individuals and institutional investors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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