Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DNB ASA. We currently have 5 research reports from 1 professional analysts.
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Not reassuring in P&L terms but the market is appreciating the capital building story...
27 Oct 16
Total revenues for Q3 16 are in line with expectations but these were driven by both the volatile trading income and other income while core revenues (net interest income and net fees and commissions) were quite disappointing. Expenses were better still due to lower than anticipated restructuring charges and IT expenses, offsetting therefore a higher cost of risk for Q3 16. Capital building is still going on as this was 50bp higher than in Q2 16 at 15.7%.
Mixed set of results...earnings at risk
28 Apr 16
DnB announced this morning its Q1 16 results. News is quite mixed as, although there is a strong improvement on the regulatory side, earnings are raising important concerns on future profitability. Revenues are in line with expectations but, stripping out the one-off elements, the picture is much gloomier with the same headwinds as those the Swedish banks are facing.
Earnings in line with expectations...bad news on the capital side...
22 Oct 15
DnB announced Q3 15 results on 22 October. On the P&L side, total revenues are just 1% lower than expected. Operating costs were 5% lower than expected (excluding a NOK216m one-off effect). Cost of risks (when normalised) was NOK675m, which is below the normalised level (around NOK3-4bn according to management's guidance). All in all, earnings were rather strong, especially when compared with Q3 14. The important news was on the capital side with an improving CET1 ratio at 13.1% (only 10bp higher than in Q2 15...) And the Norwegian FSA has just required another 1.5% pillar 2 buffer by the end of 2016 (required CET1 now at 15%).
Q2 results better than expected
10 Jul 15
DnB published today its results for Q2 15. These were quite good as both revenues and net profits were 3% higher than consensus. Despite the oil prices' tailwind, the cost of risks for 2015 is well under control. Common equity Tier 1 is also making good progress at 13% (Basel 1.5 based on transitional floor) after a disappointing stability in Q1 15.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.
11 Jan 17
Joules Group (JOU): Strong festive trading (BUY) | Shoe Zone (SHOE): Tough FY16 could be just the beginning (HOLD) | H&T (HAT): Alternative lender emerging (BUY) | Omega Diagnostics* (ODX): ISO accreditation received for Pune, India (CORP) | Redcentric* (RCN): Interims – restoring forecasts (CORP)