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1. Company Snapshot

1.a. Company Description

SpareBank 1 Nord-Norge provides banking services to personal and corporate customers in Northern Norway.It operates through Retail Market, Corporate Market, Leasing, and Markets segments.The company offers various savings, lending, insurance, and pension products, as well as payment services.


It also provides secured loan financing, real estate leasing and agency, billing systems, and accounting solutions.It operates through a network of 38 locations in 36 municipalities in Nordland, Troms, Finnmark, and Svalbard.The company was founded in 1836 and is headquartered in Tromsø, Norway.

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1.b. Last Insights on NONG

SpareBank 1 Nord-Norge's recent performance was driven by the European market's resilience, with the pan-European STOXX Europe 600 Index rising by nearly 4% recently. The company's operations in Norway, a country with a strong economy, likely benefited from the interest rate cuts by the ECB, which improved investor sentiment. Additionally, the increased spending on defense and infrastructure by Germany and the European Union may have contributed to the company's growth prospects.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.65%)

6. Segments

Personal Market

Expected Growth: 2.5%

The 2.5% growth in Personal Market from SpareBank 1 Nord-Norge is driven by increasing demand for digital banking services, a growing population in the Nord-Norge region, and a rise in disposable income among individuals. Additionally, the bank's strategic focus on customer experience, innovative product offerings, and effective cost management contribute to this growth.

Business Market

Expected Growth: 3.5%

SpareBank 1 Nord-Norge's 3.5% growth in the business market is driven by increasing demand for digital banking services, a strong economy in the Nord-Norge region, and strategic partnerships with local businesses. Additionally, the bank's focus on customer experience, innovative product offerings, and efficient cost management also contribute to its growth.

Undistributed/Eliminations

Expected Growth: 1.5%

SpareBank 1 Nord-Norge's 1.5% undistributed/eliminations growth is driven by increasing lending activities, improved asset quality, and cost savings from digitalization. Additionally, the bank's focus on retail and corporate banking, as well as its strong presence in the Norwegian market, contribute to its growth.

Sparebank 1 Finance

Expected Growth: 2.8%

Sparebank 1 Finance's 2.8% growth is driven by strong lending activities in the Nord-Norge region, fueled by a robust economy and increasing demand for mortgages. Additionally, the bank's digital transformation efforts and cost-cutting initiatives have improved operational efficiency, contributing to the growth.

Real Estate Broker 1

Expected Growth: 2.2%

Strong demand for housing in Nord-Norge, driven by population growth and urbanization, coupled with SpareBank 1's strong brand and extensive network, enables Real Estate Broker 1 to capitalize on the region's growth, resulting in a 2.2% growth rate.

Sparebank 1 Accounting

Expected Growth: 2.0%

Sparebank 1 Nord-Norge's 2.0% growth in accounting is driven by increasing demand for digital banking services, strategic partnerships, and cost-efficient operations. The bank's strong presence in the Norwegian market, coupled with its focus on customer-centric services, has led to an increase in deposits and lending activities, resulting in revenue growth.

7. Detailed Products

Personal Banking

SpareBank 1 Nord-Norge offers a range of personal banking services, including current and savings accounts, credit cards, loans, and mortgages.

Business Banking

The bank provides a variety of business banking services, including business loans, credit facilities, and cash management solutions.

Investment and Wealth Management

SpareBank 1 Nord-Norge offers investment and wealth management services, including portfolio management, investment advice, and pension planning.

Insurance

The bank provides a range of insurance products, including life insurance, non-life insurance, and pension insurance.

Real Estate Services

SpareBank 1 Nord-Norge offers real estate services, including property valuation, brokerage, and property management.

Digital Banking

The bank provides digital banking services, including online banking, mobile banking, and payment solutions.

8. SpareBank 1 Nord-Norge's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes is moderate for SpareBank 1 Nord-Norge, as customers have some alternatives for banking services, but the bank's strong brand and customer loyalty mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is relatively low for SpareBank 1 Nord-Norge, as customers have limited negotiating power and the bank has a strong market position.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for SpareBank 1 Nord-Norge, as the bank relies on a few large suppliers for technology and services, but has some negotiating power due to its size and market position.

Threat Of New Entrants

The threat of new entrants is relatively low for SpareBank 1 Nord-Norge, as the banking industry has high barriers to entry and regulatory requirements, making it difficult for new entrants to establish themselves.

Intensity Of Rivalry

The intensity of rivalry is high for SpareBank 1 Nord-Norge, as the banking industry is highly competitive, 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 61.20%
Debt Cost 4.82%
Equity Weight 38.80%
Equity Cost 8.02%
WACC 6.07%
Leverage 157.70%

11. Quality Control: SpareBank 1 Nord-Norge passed 4 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
Danske Bank

A-Score: 6.3/10

Value: 6.1

Growth: 2.9

Quality: 7.7

Yield: 5.0

Momentum: 8.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
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 ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

144.58$

Current Price

144.58$

Potential

-0.00%

Expected Cash-Flows