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Bank Industry Risk Analysis: Norway (Kingdom of) Feb 05
Standard & Poors, Feb 2005
Abstract
The financial strength of the Norwegian banking system is solid. Most financial institutions in Norway have reported improved asset quality in 2004, loan losses are at an historic low, and profitability is consequently now at levels comparable to other Nordic countries. Moreover, the Norwegian banking industry is today less fragmented as a result of the merger of the two largest financial institutions in the country DnB and Gjensidige NOR (formerly known also as UBN) into the new DnB NOR Bank ASA (A/Positive/A-1) in December 2003. The Kingdom of Norway has a very open and diversified economy, with no apparent systemic risks or structural problems. While households' sector increasing financial leverage could eventually be a cause for concern, Norwegian export companies...
Companies mentioned in this report are: Norway (Kingdom of),Nordea Bank Norge ASA,Danske Bank A/S,Eksportfinans ASA,DNB Bank ASA,Storebrand Livsforsikring AS,KBN Kommunalbanken Norway
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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