Q2 snap: growth story on track
FRC delivered a good Q2 result with the efficiency ratio of 63.5% comfortably within the FY18 guidance of 63-64%. Stronger revenues than expected with loan growth of 20% also helped deliver the 3% EPS beat. NIM only declined by 2bp QoQ and at 2.95% remains at the top end of the guidance range of 2.85-2.95%. Provisions were in line with consensus and credit quality remained pristine with net charge-offs of less than $1m in the quarter. Overall, the strong growth story remains very much intact.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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