SoGen Reports Decent Results Due to International While French Banking Remains Weak
SoGen reported solid third-quarter results and we plan to maintain our $8/EUR 36 fair value estimate and no moat rating. Similar to peer BNP, the bank’s results saw weakness in French retail banking and strength elsewhere, where net profits fell 15% to EUR 353 million due to low interest rates pressuring net interest margins. SoGen is undergoing a EUR 850 million cost reduction program, which includes closing about 20% of its branches to address the issue by 2020. In contrast, fixed-income, cur...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.