Norwegian Banks Undervalued over 20% based on DCF

DNB Bank

Market Cap: NOK 450.3b

Provides financial services to individuals and businesses in Norway and internationally.

SpareBank 1 Sør-Norge

Market Cap: NOK 81.6b

Provides various financial products and services for personal and corporate customers in Norway.

SpareBank 1 SMN

Market Cap: NOK 29.5b

Provides various banking, accounting, and real estate products and services to private individuals and companies in Norway and internationally.

SpareBank 1 Østlandet

Market Cap: NOK 26.4b

Provides various financial products and services to individuals, businesses, public entities, teams, associations, and organisations.

SpareBank 1 Nord-Norge

Market Cap: NOK 16.7b

Provides banking services in Northern Norway.

Sparebanken Møre

Market Cap: NOK 5.5b

Provides banking services for the retail and business markets in Norway.

SpareBank 1 Helgeland

Market Cap: NOK 4.2b

Provides various banking products and services to private customers, small and medium-sized enterprises, municipalities, and institutions in Norway.

Rogaland Sparebank

Market Cap: NOK 3.4b

An independent savings bank, provides various banking and investment products to retail and corporate customers in Norway.

Sparebanken Øst

Market Cap: NOK 1.5b

Operates as a savings bank in eastern Norway.

Voss Veksel- og Landmandsbank

Market Cap: NOK 982.9m

Provides banking and insurance services to private individuals, business, and agriculture in Norway.

Kraft Bank

Market Cap: NOK 556.5m

Provides refinancing of loans with mortgages on housing and loans without collateral to individuals in Norway.

Trøndelag Sparebank

Market Cap: NOK 502.2m

A savings bank, provides banking products and services in Norway.