Norway

Eika Boligkreditt ups capital targets on new regulatory requirements

Apr 11th, 2013

Eika Boligkreditt has responded to stricter capital requirements proposed by the country’s ministry of finance by increasing its capital targets, in relation to which it will seek approval to issue up to Nkr600m of new subordinated debt, it announced today (Thursday).



TBK now Eika, profits up 240%

Apr 4th, 2013
Anders Mathisen, senior vice president at Eika Boligkreditt,

Eika Boligkreditt, formerly known as Terra BoligKreditt (TBK), posted a 240% rise in pre-tax profit in 2012 following an increase in lending activities and in margins on lending, according to an official at the Norwegian issuer.



Moody’s says Norway FSA risk weight plan positive

Mar 14th, 2013
finanstilsynet

A proposal by the Norwegian Financial Supervisory Authority (Finanstilsynet) to tighten risk weights for residential mortgages is credit positive as it would press Norwegian banks to further strengthen their capital bases, Moody’s said on Monday.



DNB, SEB in dollars as US market offers deeper demand, better pricing

Mar 14th, 2013
DNBaker-brygge-440x340

DNB today (Thursday) became the first European issuer to sell a US targeted benchmark covered bond this year, after SEB yesterday placed an inaugural, $1.25bn five year senior unsecured deal as dollars offered high quality Yankee names better terms than euros.



Moody’s cuts SB1 Nord-Norge and Hedmark citing weaker Alliance

Mar 7th, 2013

Moody’s downgraded the ratings of SpareBank 1 Nord-Norge and Sparebanken Hedmark from A1 to A2 on Monday, but confirmed the A2 ratings of SpareBank 1 SMN and SpareBank 1 SR-Bank, citing a weakening of the SpareBank 1 Alliance.



FSA backs case-by-case stance, Norges opposes bank licences

Mar 7th, 2013
NorgesBank300

Norway’s FSA appears to have come out in favour of a bank-by-bank approach to assessing risks associated with covered bond issuance, according to feedback given to the ministry of finance, while Norges Bank has opposed giving covered bond companies regular access to its liquidity facilities.



SMN targets peers after Eu500m five year debut

Feb 21st, 2013

SpareBank 1 SMN paid up to sell an inaugural fixed rate euro senior unsecured transaction last Thursday (14 February), but hopes that the spread between it and its Norwegian peers will narrow over time after an encouraging investor reception, said an official at the issuer.



Sparebanken post positive results

Feb 21st, 2013

Fitch affirmed the ratings of Norway’s Sparebanken on Tuesday, saying that their current ratings of A or A- reflect the sound asset quality and good capital and leverage ratios of the banks.



Fana eyes covered bond rating to counter price discrimination

Feb 21st, 2013

Norway’s Fana Sparebank obtained its first issuer rating on Wednesday, Baa2 from Moody’s, as its seeks to obtain a rating of covered bonds issued by its Boligkreditt subsidiary in a bid to improve domestic capital market access and funding costs, according to the bank’s CFO.



Moody’s moves Norway banking system to stable on sound outlook

Feb 14th, 2013

Moody’s changed its outlook on Norway’s banking system from negative to stable yesterday (Wednesday) as a result of improved and above euro-area growth forecasts, but also noted that Norwegian banks’ high reliance on wholesale funding could expose them to market volatility.