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Losses on the rise, but earnings and support packages provide buffers. 2021-outlook covid-19

• Read more about Significant risks remain for Nordic niche banks

• Read more about NP3 Fastigheter AB (publ)

The rating was withdrawn on 17 Dec. 2024.

• Read more about 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.

Niche banks offering unsecured consumer loans likely to bear the brunt. covid-19

• Read more about Nordic non-performing loans set to accumulate if COVID-19 continues unabated

• Read more about 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.

• Read more about 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.

NCR explains its views on preferred shares when evaluating the financial risk of individual companies.

• Read more about Nordic Credit Rating's view on corporate preferred shares

• Read more about Axfast AB (publ)

Axfast is a commercial property management company focusing on high-end and centrally located properties in the Stockholm region. Having previously held properties in both Gothenburg and Uppsala, the company now focuses entirely on office, retail, hotel and logistics properties in Stockholm. The company's primary strategy is to manage multi-use properties for office and ground-level retail and restaurants and to grow via large one-off acquisitions and development in Stockholm's central business districts.

• Read more about LSTH Svenska Handelsfastigheter AB (publ)

Svenska Handelsfastigheter is a commercial property management company focusing on easily accessible retail properties with long-term, low-cyclicality tenants. Founded in 2015, The company has grown rapidly through new-builds and acquisitions. It is owned by management and board members, together with three pension funds: Fjärde AP-Fonden, Kåpan Pensionstiftelse, and Länsförsäkringar Liv Försäkrings AB.

The Nordic logistics property sector appears to have defied widespread expectations of a marked slowdown.

• Read more about Logistics property operators ride out COVID-19 downturn