DNB Bank ASA

DNB Bank ASA

den 19 juli 2016

Important legal information

DNB Bank ASA is the largest Bank in Norway. The Group includes brands such as DNB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson. DNB Bank has been founded in 1822 and is headquartered in Oslo. DNB shares are listed on the Oslo stock exchange.

The second quarter of 2016 was weaker for DNB than a year before principally due to the turbulent environment on the financial markets in the first half of the year. The pre-tax operating profit slipped to NOK 5.8 billion in comparison profits were NOK 6.8 billion in Q2 2015. Moreover, the return on equity of the company dropped from 12.1 percent in Q2 2015 to 9.9 percent in Q2 2016. However, the CET1 ratio of DNB Bank increased from 13.00 percent in Q2 2016 to 15.2 percent in Q2 2016. According to DNB Bank, the losses linked to loans could exceed NOK 6 billion in 2016. The exceptionally low interest rates environment and the decrease in the oil prices is very challenging for the bank, which operates mainly in Norway. DNB Bank has announced profitability guidelines for 2016-2018 with a return on equity above 12 percent and a CET1 ratio of about 15.5 percent. Moreover, the bank has announced a minimum of 3 percent annual growth in commissions and fees which may support profitability. However, the future development remains to be seen.

Bloomberg consensus set the 12-month target price to NOK 108.35. As of 15 July 2016, the price per share was NOK 93.50. Currently, 16 analysts set DNB Bank ASA on BUY, 10 on HOLD and 5 on SELL recommendation.

 

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DE000VX9KN39 WTI Light Sweet Crude Oil Future Jan 2023 10,00 Long SEK 0,014 0,02

2022-12-01 05:00:59