Financial

Our 'BBB+' issuer and issue ratings for Sparbanken Västra Mälardalen are unchanged following the publication of its first-quarter results.

• Read more about NCR comments: Sparbanken Västra Mälardalen 2020Q1 report

Some Norwegian savings banks could be at risk of breaching their pillar 2 buffer requirements. covid-19

• Read more about Norwegian savings banks – A bank crisis scenario

Our 'BBB-' issuer and issue ratings for Resurs Bank AB are unchanged following Resurs Holding's first quarter 2020 results.

• Read more about NCR comments: Resurs Bank AB (publ) 2020Q1 report

• Read more about Danske Hypotek AB (publ)

Danske Hypotek is a wholly owned Swedish subsidiary of Danske Bank and has been authorised to issue covered bonds in Sweden since 2017. The company was created to provide access to Sweden's covered bond market and to finance Danske Bank's Swedish mortgage loans in the same manner and as its competitors. All of the loans financed by Danske Hypotek were acquired from Danske Bank's Swedish branch given that the company itself does not conduct any new lending business.

Our 'A-' issuer and issue ratings for Kredittforeningen for Sparebanker (KfS) are unchanged following its first quarter 2020 results.

• Read more about NCR comments: Kredittforeningen for Sparebanker 2020Q1 report

NCR lowered its assessment of the Swedish banking sector to 'bbb+' from 'a-'. covid-19

• Read more about NCR sees increased risks in the Swedish banking sector

NCR lowered its assessment of the Norwegian banking sector to 'a-' from 'a'. covid-19

• Read more about NCR sees increased risk for Norwegian banks

On 19 Mar. 2020, Swedbank received a final judgement from the Swedish financial supervisory authority (FSA) with respect to alleged money laundering activities at its Estonian branch.

• Read more about Q&A: Swedbank judgement and share price impacts on Swedish savings banks

Given coordinated efforts of the central banks and regulators, NCR believes that the COVID-19 crisis will be more about credit risk than the lack of liquidity observed during the financial crisis. covid-19

• Read more about Nordic niche banks face uncertain future for nonperforming loans

Our 'A-' issuer and issue ratings for Sparbanken Rekarne (SpR) are unchanged following the publication of its fourth-quarter results.

• Read more about NCR comments: Sparbanken Rekarne 2019Q4 report