Nordic property values skewed by COVID-19
Retail and hotels take the biggest hit amid gains in residential and logistics.
covid-19
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Nordic niche banks enter 2021 unscathed
Loan loss provisions appear to have peaked, but customer defaults could increase.
Stendörren Fastigheter AB (publ)
Stendörren is a commercial real estate company focusing on properties near central Stockholm and other urban centres in Sweden's Mälardalen region. The company was created when real estate management company Kvalitena AB's warehouse, logistics and light industry property portfolio was organised as a stand-alone company in 2014. Stendörren has two share classes, A and B, with the latter listed on the Nasdaq Stockholm exchange since 2014. Since November 2018, private equity company EQT AB (publ) (EQT) has indirectly controlled 41% of the shares and 58% of the votes in Stendörren.
ECB guidance dampens prospects for Nordic bank dividends
Permissible payments in 2021 likely to be well below 2019 levels.
Significant risks remain for Nordic niche banks
Losses on the rise, but earnings and support packages provide buffers.
2021-outlook
covid-19
NP3 Fastigheter AB (publ)
The rating was withdrawn on 17 Dec. 2024.
Sörmlands Sparbank AB (publ)
Sörmlands Sparbank was founded in 1832 as Nyköpings Sparbank and took its current form via a 1991 merger and the 1998 acquisition of five local bank offices as part of the creation of Föreningssparbanken (now Swedbank AB). Operating from Katrineholm in Södermanland county, it extends its services to Nyköping, Flen, Vingåker, and Oxelösund. These communities have a total of about 130,000 inhabitants.
Nordic non-performing loans set to accumulate if COVID-19 continues unabated
Niche banks offering unsecured consumer loans likely to bear the brunt.
covid-19
Bonnier Fastigheter AB
Bonnier Fastigheter dates back to 1856, when the company acquired its first property on Riddarholmen in central Stockholm. Over the years, the property portfolio has evolved, and currently comprises 16 properties in Greater Stockholm and Uppsala. Bonnier Fastigheter is a long-term property owner; eight of the properties have been in the portfolio since 1990 or earlier. The company is one of three legs of the Bonnier family's corporate holdings – the other two being media conglomerate Bonnier Group AB and investment company AB Boninvest.
Varbergs Sparbank AB (publ)
Varbergs Sparbank is one of Sweden's larger savings banks and operates in and around Varberg in the Halland region of south Sweden. The bank is owned by a foundation which receives part of the bank's profit as dividends. These are reinvested in the bank's area of operations to support the local community and various associations in the Varberg region. In partnership with Swedbank AB, Varbergs Sparbank benefits from diverse products, shared IT costs, and retail mortgage financing via Swedbank Hypotek AB.