Major banks face tougher competition from smaller players on the Swedish bolånekunder.
It writes SEB Equities in a analysuppdatering.
SBAB, Länsförsäkringar and Danske Bank have so far in 2017 and has taken more than 40 per cent of new lending even as they account for key 20 per cent of the total market.
”While the market grown 7.6 per cent from the year before have the major banks bolåneböcker only grown by 3.8 per cent,” writes SEB’s analytikerteam.
Swedbank is singled out as the single most sensitive to the increased competition in the Swedish mortgage market and SEB, repeat sales and riktkursen 200 sek.
”We expect that both Danske Bank and SBAB continues to increase its share in the Swedish mortgage market”, writes SEB.
In the analysis, reference is made to new distribution channels, changing funding strategies and good ‘ capital positions as the basis for the smaller players on the Swedish mortgage market can be expected to get them to continue to take market share.
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