DnB released this morning its numbers for Q2 19. Profit before loan losses was 3.5% above expectations, mainly driven by volatile other and trading income. The CET1 ratio was 20bp higher than expected at 16.5%. We will keep our Reduce recommendation given DnB’s current high price (following a 30% increase ytd). We won’t make any material changes on the EPS side.
11 Jul 2019
DnB will securely reach the new and higher capital requirements
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DnB will securely reach the new and higher capital requirements
DnB released this morning its numbers for Q2 19. Profit before loan losses was 3.5% above expectations, mainly driven by volatile other and trading income. The CET1 ratio was 20bp higher than expected at 16.5%. We will keep our Reduce recommendation given DnB’s current high price (following a 30% increase ytd). We won’t make any material changes on the EPS side.