SpareBank 1 BV (SBVG) published Q3 on Friday and the result was on the strong side with an RoE of 12% in the quarter. We have increased our 2020e/2021e EPS 14%/4%. The bank in considering to implement equal distribution to the equity certificate holders and the primary capital and we view the likelihood for implementation as high. This will prevent dilution, open up for new investors with this as a pre-requisite and be supportive for valuation in our view.
08 Nov 2020
Equal distribution supportive for valuation
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Equal distribution supportive for valuation
SpareBank 1 Sorost-Norge (SOON:OSL) | 0 0 0.0%
- Published:
08 Nov 2020 -
Author:
Joakim Svingen | Roy Tilley -
Pages:
14
SpareBank 1 BV (SBVG) published Q3 on Friday and the result was on the strong side with an RoE of 12% in the quarter. We have increased our 2020e/2021e EPS 14%/4%. The bank in considering to implement equal distribution to the equity certificate holders and the primary capital and we view the likelihood for implementation as high. This will prevent dilution, open up for new investors with this as a pre-requisite and be supportive for valuation in our view.