Banco Sabadell : Q1 2024 suggests a more favourable-than-expected trajectory for NII
>Neutral rating reiterated – target price raised to € 1.70 (vs € 1.50) - Q1 2024 was another solid quarter (on the operating front as well as in terms of asset quality, capital, liquidity) and confirms the favourable trend related to the transformation plan (costs, etc.) to a contained CoR, in addition to momentum on NII that was better than initially expected. The group confirms most of its guidance, slightly improves RoTE's guidance while providing further clarific...Banco de Sabadell is a bank holding company. Through its subsidiaries, Co. provides a range of banking and financial services in Spain and internationally. Co.'s activities include investment banking, private banking, portfolio management, mortgage loans, commercial loans and other financial products and services, deposits and international banking operations. Co. is also engaged in life insurance underwriting and brokerage. Additionally, Co. is engaged in capital property and development, as well as investing in environmental projects. As of Dec 31 2014, Co. had total assets of Euro163,345,673,000 and total customer deposits of Euro98,208,370,000.
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.
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