Bankinter S.A. - Liberbank SA (LBK) Liberbank: Targets reiterated capital increase to be executed any time from now

Report

Bankinter S.A.

Marisa Mazo

Liberbank: Targets reiterated & capital increase to be executed any time from now

3Q17 losses of €337mn

Liberbank’s 3Q17 results came out with no surprises compared to our estimates (see our October, 22nd note). The group posted €337mn losses due to the extraordinary provisions included this quarter that have increased the coverage of NPAs to 50% in 3Q17 vs. 40% in 2Q17. All these facts were announced in September.

24/10/2017 7 EN

Underlying

Liberbank SA

Liberbank SA is a Spain-based company engaged in the commercial banking activities. It specializes in providing consumer loans. Furthermore, the Bank offers a range of services for entrepreneurs: savings accounts, loans, factoring, payments management, investment funds, import and export financing, guarantees, as well as commercial insurance, among others. The Bank operates through a chain of retail offices in Asturias, Cantabria, Castile La Mancha and Extremadura. It also manages such brands as Cajastur, Caja Extramadura, Caja Cantabria and CCM.

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ES0168675090 Madrid Stock Exchange Spain

Provider

Bankinter S.A.

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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Analysts

Marisa Mazo

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