Nordea’s Full-Year 2017 Results Disappoint; Net Income Declines 19% Compared With Last Year
We concur with Nordea management, which has stated it is "not satisfied" with the firm's results, as the full-year 2017 bottom line came in below our EUR 3.5 billion estimates. With EUR 3.1 billion, net income indicates a 19% slide from a year earlier. While net interest income and net fee income growth somehow lacked a spark, trading and other income lines were disappointing. While we maintain our current fair value estimate, we will be updating our model reflecting 2017 actual numbers and will...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.
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