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Konsenz analitikov

Ocena nakupa

Ocena temelji na osnovi desetih analitikov, ki močno priporočajo nakup delnice NLB. 

Napoved vrednosti delnice

Srednja ocenjena vrednost gibanja delnice NLBR po ocenah 10 analitikov je postavljena pri 175,4 EUR za delnico.

Dodatne analize in napovedi

Income Statement (EURm)Q2E2025E2026E2027E
MedianAverageMedianAverageMedianAverageMedianAverage
Net interest income232.3233.2942.8937.9957.7956.5986.8987.7
Net fee and commission income85.284.9329.0329.3348.6347.8359.7364.3
Other operating income-0.40.12.04.45.02.75.04.5
Net Non-interest income85.072.3341.1339.8354.4355.4364.9371.9
Total net operating income317.5317.81,280.01,270.71,313.31,306.51,348.81,356.1
Employee costs-84.1-84.1-341.9-337.5-357.4-350.6-368.0-363.2
Other general and administrative expenses-52.2-51.6-206.8-206.0-213.8-212.0-219.5-220.0
Depreciation and amortisation-17.0-16.6-65.0-63.3-66.3-65.0-67.5-66.7
Total costs-150.9-152.2-615.3-611.8-637.3-634.1-660.2-657.5
Balance sheet tax-8.1-8.3-33.0-33.3-35.0-35.3-37.0-37.0
Result before impairments and provisions157.8159.3630.7634.0641.7647.9653.4669.9
Net impairments and provisions (sum of below)-10.9-10.6-66.0-63.9-76.0-73.0-86.0-80.3
Impairments and provisions for credit risk-8.8-8.7-54.2-51.5-69.1-63.1-79.2-71.1
Other impairments and provisions-2.0-2.6-10.7-11.1-10.6-11.8-12.0-12.4
Gains less losses from capital investments in subsidiaries, associates and JVs0.60.52.32.22.32.12.32.1
Result before tax150.0150.1563.7573.2569.7576.8589.0595.0
Income tax expense-19.2-19.7-77.2-72.9-78.5-75.8-79.6-80.9
Non controlling interests-3.7-3.6-14.0-14.1-13.0-14.2-13.0-14.3
Net profit attributable to shareholders126.0126.9483.6484.6486.5485.3494.7498.2
Key Ratios2025E2026E2027E
MedianAverageMedianAverageMedianAverage
NPL ratio1.9%1.8%1.8%1.8%1.7%1.8%
Net loans to deposits78.0%76.4%77.0%77.4%79.9%78.9%
CET1 ratio15.5%15.5%15.5%15.6%15.6%15.7%
T1 ratio15.7%15.7%15.8%15.7%15.9%15.7%
Total capital ratio18.7%19.0%18.7%18.7%18.7%18.8%
Loan growth9.1%9.8%6.9%6.8%7.0%6.9%
Deposit growth5.0%4.8%5.0%5.4%5.2%5.6%
Net interest margin3.28%3.28%3.13%3.14%3.06%3.06%
Cost of risk0.35%0.34%0.40%0.37%0.40%0.38%
Cost to income ratio48.1%48.1%48.6%48.5%48.6%48.5%
ROA1.6%1.7%1.5%1.6%1.5%1.5%
ROE14.5%14.5%13.7%13.6%12.9%13.2%
RWA19,29719,07620,55620,37821,76521,683
Dividends (per share, €)12.8612.9913.6813.6714.0014.22
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