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Banco BPM : Upgrading our recommendation on the Tier 2 notes to Buy
Banco BPM has this year again become a regular bond issuer, with five institutional issues to date, including a Tier 2 note and an AT1 instrument. - The bank owes its successful return to investors' appetite for yield but also to its improved credit quality. - >First, the balance sheet clean-up has sped up, with a 65% reduction in non-performing loans to € 10.7bn, i.e. a NPL ratio of below 10%. Secondly, capital ratios improved, the CET1 exceeded the 9.31% requirement, at ...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Carine Maciol
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