Swedbank: Sweden's customer-centric bank with healthy ROE generation and stellar cost efficiency.
Narrow-moat Swedbank’s full-year 2017 results were mainly in line with our estimates. The bank posted net income of SEK 19.4 billion, indicating a 1% decline relative to 2016. While revenue generation in our view was stable and somewhat better than expected, the 5% increase in costs was slightly higher than management anticipated and broadly in line with our expectation. The cost spike was due to the SEK 300 million charge on restructuring costs due to changes in the IT organisation and digital ...Swedbank provides financial services and products in its home markets of Sweden, Estonia, Latvia and Lithuania. Co. has four segments: Swedish Banking, which is responsible for all its Swedish customers except corporates and financial institutions; Large Corporates and Institutions, which is responsible for large corporates, financial institutions and banks as well as for trading and capital market products; Baltic Banking, which operates in Estonia, Latvia and Lithuania; and Group Functions and Other. At Dec 31 2013, Co. had 731 branches and 1,396 automated teller machines. Also as of such date, Co. had total assets of SEK1.82 trillion and deposits of SEK620.85 billion.
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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