2019 Energy Conference - 27 & 28 February

SpareBank 1 Markets is pleased to invite you to our 2019 Energy Conference at Grand Hotel in Oslo

Attractive niche banks

Attractive niche banks
Norwegian niche banks – Initiation of coverage and 3Q 2014 Preview

•Continued growth likely as consumer financepenetration increases
•High ROE adequate in raising capital
•Initiating coverage with BUY recommendation on all banks
•Bank Norwegian (BUY, NOK 30)
•Pareto Bank (BUY, NOK 1750)
•yA Bank (BUY, NOK 31)
•Bank 2 (BUY, NOK 5.50)


Salmon farming

Key takeaways from the third quarter

•Farming regions
» Central Norway back on top as the best farming region . 
o Average NOK 8.6/kg in operational EBIT.

Norwegian Banks - EPS and Roe loan loss sensitivities

EPS and ROE loan loss sensitivities
The 45% drop in oil price since June has significantly increased uncertainty regarding growth in the Norwegian economy over the next years and consensus expect a modest 1 -1.5% GDP growth in 2015.

Offshore Support Vessel Weekly 51/2014

•Technip/Reach extends contract with Eidesvik’s large subsea newbuild from 110 to 180 days in 2015. Positive for EIOF.

SpareBank 1 Markets

SpareBank 1 Markets would like to wish all our clients and business partners a happy summer holiday!

It has been a year of high activity for us. Please find below selected transactions completed last 12 months.



SpareBank 1 Markets moves into asset managment

Asset management will be established as a new business unit in SpareBank 1 Markets. The new unit will be based on existing specialist environments in Trondheim and Tromsø.

SpareBank 1 Markets acquires Allegro Kapitalforvaltning in Trondheim and SpareBank 1 Nord-Norge Forvaltning in Tromsø from SpareBank 1 SMN and SpareBank 1 Nord-Norge respectively. The acquired companies will be merged and will spearhead SpareBank 1 Markets’ asset management business. The new business unit will have combined AUM of approximately 10 NOK billion.