DnB’s numbers for Q1 19 were mainly disappointing on the P&L side as core revenues (net interest income and fees/commissions) were below expectations and total expenses higher than expected. The CET1 ratio is flat qoq. Management reiterated its guidance for 2019 (C/I ratio below 40%, pay-out ratio above 50% and ROE above 12.% in line with Q1 19’s ROE).
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Only slightly disappointing
DnB’s numbers for Q1 19 were mainly disappointing on the P&L side as core revenues (net interest income and fees/commissions) were below expectations and total expenses higher than expected. The CET1 ratio is flat qoq. Management reiterated its guidance for 2019 (C/I ratio below 40%, pay-out ratio above 50% and ROE above 12.% in line with Q1 19’s ROE).