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1. Company Snapshot

1.a. Company Description

P/F BankNordik, together with its subsidiaries, provides personal and corporate banking services in the Faroe Islands and Greenland.The company operates in two segments, Banking and Non-Life Insurance.It provides a range of property and casualty insurance products under the Trygd brand, and life insurance products under the NordikLív brand; and real estate agency services under the Skyn brand.


P/F BankNordik was founded in 1906 and is headquartered in Tórshavn, Denmark.

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1.b. Last Insights on BNORDIK

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.62%)

6. Segments

Banking

Expected Growth: 5.65%

P/F BankNordik's 5.65% growth is driven by strong loan growth, fueled by a robust economy and increasing consumer spending. Additionally, the bank's digital transformation efforts have improved operational efficiency, reducing costs and enhancing customer experience. Furthermore, strategic partnerships and expansion into new markets have contributed to the bank's growth momentum.

Non-life Insurance

Expected Growth: 4.83%

The 4.83% growth in Non-life Insurance from P/F BankNordik is driven by increasing demand for motor insurance, a rise in construction activities, and a growing awareness of risk management among individuals and businesses in the region. Additionally, the insurer's strategic partnerships and digitalization efforts have improved customer reach and retention, contributing to the segment's growth.

Eliminations

Expected Growth: 5.83%

BankNordik's 5.83% growth is driven by strategic expansion into Nordic markets, increased digitalization efforts, and a strong focus on corporate lending. Additionally, the bank's cost-cutting initiatives and improved operational efficiency have contributed to its growth momentum.

7. Detailed Products

Private Banking

Personalized financial services and investment advice for high net worth individuals

Corporate Banking

Financial solutions and advisory services for businesses and corporations

Retail Banking

Everyday banking services for individuals and small businesses

Asset Management

Investment management services for institutional clients and private investors

Markets

Trading and market-making services for financial institutions and corporations

Wealth Management

Comprehensive wealth management services for high net worth individuals and families

8. P/F BankNordik's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for P/F BankNordik is moderate due to the presence of alternative financial institutions and digital payment platforms.

Bargaining Power Of Customers

The bargaining power of customers is high due to the high level of competition in the banking industry, giving customers the power to switch to alternative banks.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the bank's strong financial position and ability to negotiate favorable terms with suppliers.

Threat Of New Entrants

The threat of new entrants is moderate due to the regulatory barriers and high capital requirements for entering the banking industry.

Intensity Of Rivalry

The intensity of rivalry is high due to the high level of competition in the banking industry, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 51.39%
Debt Cost 3.95%
Equity Weight 48.61%
Equity Cost 6.25%
WACC 5.06%
Leverage 105.72%

11. Quality Control: P/F BankNordik passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
SpareBank 1 Nord-Norge

A-Score: 8.0/10

Value: 7.4

Growth: 7.8

Quality: 6.2

Yield: 9.4

Momentum: 8.0

Volatility: 9.3

1-Year Total Return ->

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Stock-Card
Sparekassen Sjælland-Fyn

A-Score: 7.6/10

Value: 7.5

Growth: 7.7

Quality: 7.6

Yield: 4.4

Momentum: 10.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
SpareBank 1 SMN

A-Score: 7.6/10

Value: 7.0

Growth: 5.6

Quality: 6.1

Yield: 8.8

Momentum: 8.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Sparebanken Sør

A-Score: 6.7/10

Value: 7.4

Growth: 3.0

Quality: 6.4

Yield: 9.4

Momentum: 7.5

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
SpareBank 1 Østfold Akershus

A-Score: 6.5/10

Value: 4.7

Growth: 5.1

Quality: 5.5

Yield: 7.5

Momentum: 8.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
BankNordik

A-Score: 5.1/10

Value: 6.4

Growth: 6.1

Quality: 7.7

Yield: 5.0

Momentum: 4.0

Volatility: 1.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

154.5$

Current Price

154.5$

Potential

-0.00%

Expected Cash-Flows