MING delivered another solid quarter with a beat on costs and loan losses, though we’d hoped to see somewhat higher lending growth. Given the bank’s long history of increasing its market share we’re not too worried about the bank being able to do so once again in 2025, though a lot of customers seemingly have been on the move in the Norwegian market through 2024 (Danske PC portfolio) – which in addition to CRR3 effects sets up an interest dynamic moving forward. Overall, our Earnings per EC esti ....
