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MarketLine Department
  • MarketLine Department

Svenska Handelsbanken AB - Mergers & Acquisitions (M&A), Partnerships ...

Summary Marketline's Svenska Handelsbanken AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Svenska Handelsbanken AB - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances a...

MarketLine Department
  • MarketLine Department

Svenska Handelsbanken AB - Company Profile and SWOT Analysis

Summary Svenska Handelsbanken AB - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Svenska Handelsbanken AB (Svenska Handelsbanken) offers private, corporate banking solutions and financial institution. Private banking comprises insurance, mortgage, car and leisure loans, fun...

DNB Bank ASA: 1 director

A director at DNB Bank ASA bought 6,000 shares at 205.710NOK and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Norwegi...

Total lending grew by 5.5% y-o-y (5.2% adjusted for FX effects, as Statistics Norway does) and 0.4% m-o-m. Last month, total lending was up 5.4% y-o-y. Corporate lending grew by 8.8% y-o-y and 0.7% m-o-m. Last month, corporate lending increased by 8.0% y-o-y. Adjusted for FX effects, the y-o-y growth in corporate lending was 7.8% (vs. 7.1% last month). Household lending was up 4% y-o-y and 0.3% m-o-m. Last month, household lending increased by 4.2% y-o-y.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Financial targets: ROE >13%, CET1 >17%

ROE target lifted to >13% on income, costs & capital Lower CET1 target: cons. might lift its BB expectations Presentation today at 13:00 CET

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Ahead of CMD: It’s time to lift the ROE bar

ROE ambition above >13% (from prev. >12%)… …could give the organisation something to strive for… …but would new targets lift consensus expectations?

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Swedish mortgage pricing – October 2022

Average negotiated 3-month rate up by 38bp m-o-m Avg. 3M new lending margin up by 8bp in Oct vs. Q3 So far, reality is developing in line with our expectations

Hanna Skolt ... (+2)
  • Hanna Skolt
  • Jan Erik Gjerland

Sector Fast Comment - Norw. FSA proposes higher risk-weight floors

Proposal: RW-floor to 25% for mortgages, 45% for CRE Negative outcome could be mitigated with lower CET1-req The N-MoF to make final decision likely before year-end

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Finnish...

Total lending was up 4.7% y-o-y and -0.2% m-o-m. Last month, total lending increased by 5.1% y-o-y. Corporate lending was up 12.4% y-o-y and -0.3% m-o-m. Retail lending increased by 1.7% y-o-y and -0.2% m-o-m. While Finnish household mortgage lending growth is abating, corporate lending growth remains high. This is similar to the trends we are seeing in Denmark and Sweden, and is most likely partly related to the malfunctioning bond markets.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks – Statistical update - Norwegi...

Total lending grew by 5.4% y-o-y and 0.4% m-o-m. Last month, total lending was up 5.3% y-o-y. Corporate lending was up by 8% y-o-y and 0.4% m-o-m. Last month, corporate lending increased by 7.9% y-o-y. Adjusted for FX effects (as Statistics Norway (SSB) does), the y-o-y growth in corporate lending was 7% (vs. 7.7% last month). Household lending was up 4.2% y-o-y and 0.5% m-o-m. Last month, household lending increased by 4.2% y-o-y.

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Higher buffer for Swedes in Norway - Neutral

The SFSA has reciprocated the Norwegian SIFI buffer Minor impact on the CET1 req. in SHB & SEB - Neutral The Finnish FSA should come clean on NDA before YE

Hanna Skolt ... (+5)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius
  • Rasmus Vendelboe Jakobsen

Powerpoint Sector Report - Nordic banks - Statistical update - Danish ...

Total lending in September was down 4.6% y-o-y (corporate +3.3%; retail -8.9%) and decreased 3.0% m-o-m. Mortgage lending decreased by 9.9% y-o-y (corporate -6.1%; retail -11.6%) and decreased 4.0% m-o-m. Bank lending increased 13.8% y-o-y (corporate +26.4%; retail +3.6%) but decreased -0.3% m-o-m (corporate -2.3%; retail 1.7%).

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Powerpoint Sector Report - Nordic banks - Statistical update - Swedish...

Total lending increased by 9.0% y-o-y (corporate lending 16.5% and retail lending 5.0%) and 0.3% m-o-m. Bank (non-mortgage) lending increased by 16.6% y-o-y (corporate lending 22.0% and retail lending 3.5%) and 1.5% m-o-m. Mortgage lending was up 6.0% y-o-y (corporate lending 8.9% and retail lending 5.5%) and 0.3% m-o-m.

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Sign of competition on mortgages, not deposits

Write-backs drove the PTP beat of 3% vs ABGSCe Adj. EPS up 2% for ‘23e and 1% for 24e due to NII Adj. EPS CAGR of ~2% and P/E’23e 9.5x – HOLD

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Q3: Poor trading mute a decent result

Adj. PTP +10%/+5% and PBLL +4%/-1% vs ABG/cons Fees, NII & write backs (pos); Costs & trading (neg) Cons. est. up 0-1% for ’23e-24e on NII/fees, stock 1-2%

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Heads-up for Q3 report, 20 October

Company will report on Thursday 20 October at 07:30 CET. A presentation from 09:30 CET at ir.dnb.no. Conference call at 13:30 CET: , , PW: DNBQ3

Hanna Skolt ... (+2)
  • Hanna Skolt
  • Jan Erik Gjerland

Sector Report - 2023e loan losses still not fully discounted

NII growth of 12% in ’21-‘24e offsets weaker other income Adj. EPS +1% ‘23e (muted by loan losses), +10% ‘24e Higher uncertainty – reiterate HOLD, TP NOK 115

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Fast Comment - Swedish mortgage pricing – Sept. 2022

Average negotiated 3-month rate up by 22bp m-o-m Avg. 3M new lending margin down 47bp in Q3 vs. Q2 So far, reality is developing in line with our expectations

Jan Erik Gjerland ... (+3)
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

Sector Report - The NII train is coming

High single-digit net earnings growth in 2022-24… …and attractive dividend yields We keep our BUY rating with an updated TP of SEK 111

Hanna Skolt ... (+4)
  • Hanna Skolt
  • Jan Erik Gjerland
  • Magnus Andersson
  • Patrik Brattelius

DNB - Awaiting a lower P/BV from higher losses

1% CAGR in 2022-24e adj. EPS, lowest among peers Estimates up on higher rates, LLP mutes ’23e, not ’24e An excessive valuation premium to Nordic peers: HOLD

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