Caixabank expected 2Q18 results: Solving the foreclosed assets problem
2Q18e net profit to amount to €476mn
Caixabank will release its 2Q18 results on Friday, July 27th before market opens. A webcast will take place at, 11.30 CET (www.caixabank.com). We expect that 2Q18e net profit may amount to €476mn (+9.1% yoy and –32.4% qoq), implying a 1H18e net profit of €1,180mn (+40.6% yoy). We are slightly below the consensus that expects a net profit of €520mn.
Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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