contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


ncr-comments-sparbanken-rekarne-ab-2020q1-report

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Our 'A-' issuer and issue ratings for Sparbanken Rekarne (SpR) are unchanged following the publication of its first-quarter results.Strong result, supported by NII and modest credit losses SpR...

<div class="mfn-preamble">Our 'A-' issuer and issue ratings for Sparbanken Rekarne (SpR) are unchanged following the publication of its first-quarter results.</div><div class="mfn-body">Strong result, supported by NII and modest credit losses SpR slowed its on-balance-sheet loan growth during the first quarter, reducing lending by 0.9% (ca SEK 120m), while increasing loans transferred to Swedbank Mortgage by 0.4% (ca SEK 30m). This decline reflects a strategic change by the bank following a period where SpR has grown its loan book to improve overall earnings. In total, SpR's business volumes declined by 3% during the quarter reflecting the changes in loan volumes as well as a 1.9% growth in on-balance sheet deposits but mostly affected a decrease in the market value of in customers' investment and insurance assets.The recent lending growth has contributed to the fact that net interest income (NII) improved by 17% vs Q1/19 and core revenues, despite a decline in fee and commission income, improved by 7% vs Q1/19. The bank also added SEK 6m for the partial sale of Portfolio Försäkra, reducing its share in the company further to 25% from 33% previously.Expenses were down 8.9% vs Q1/19, reducing the cost-income-ratio to 50% and supporting SEK 47m in pre-provision earnings (vs SEK 35m in Q1/19 and SEK 28m in Q4/19).Somewhat surprisingly, credit losses remained very low during the quarter at 2bps of total lending, reflecting modest changes in Stage 1/2 loans (IFRS9). Net non-performing (IFRS 9 stage 3) loans remain very low at SEK 13m (10bps of net loans). NCR expects loss levels and non-performing loans to increase given the increasing unemployment and company defaults in Sweden, but note that many large manufacturers reopened plants at the end of April, supporting activity in the local economy. In addition, SpR adjusted the value of its shareholdings in Sörmlandsfonden resulting in a writedown of SEK 1.5m during the quarter.In total, the bank's 14.0% return on equity during the quarter was well above NCR expectations.Capital ratios improve as exposure declines The bank's capital ratios improved during the first quarter in part due to the period's result and a reduction in credit risk exposure during the quarter. SpR reported a CET1 ratio of 16.4% (15.6% at end 2019) and a total capital ratio of 18.5% (17.6%).This commentary does not reflect a rating action.If you have any questions, please contact: Sean Cotten, chief rating officer, +46735600337, <a target="_blank" href="mailto:sean.cotten@nordiccreditrating.com" rel="nofollow noopener">sean.cotten@nordiccreditrating.com</a> Geir Kristiansen, credit rating analyst, +4790784593, <a href="mailto:geir.kristiansen@nordiccreditrating.com" target="_blank" rel="nofollow noopener">geir.kristiansen@nordiccreditrating.com</a>  </div><div class="mfn-footer mfn-about">About Us<hr/>Nordic Credit Rating AS is a credit rating agency headquartered in Oslo with a branch in Stockholm. The company provides credit ratings to companies and financial institutions in the Nordic region, and bases its analysis on local insights. Nordic Credit Rating is registered with the European Securities and Markets Authority (ESMA).</div><div class="mfn-footer mfn-attachment mfn-attachment-pdf">Attachments<hr/><a class="mfn-generated mfn-primary" href="https://storage.mfn.se/23d386c6-4f12-405d-b2fe-6d31526b95cc/ncr-comments-sparbanken-rekarne-ab-2020q1-report.pdf" target="_blank" rel="nofollow noopener">NCR comments: Sparbanken Rekarne AB 2020Q1 report</a></div>