Report
Banco Sabadell : Recommendations rebooted following negative items in Q2 results; Stable Credit Opinion Maintained on large NPA sales
Following the IT glitch at TSB, Banco Sabadell’s UK subsidiary, the temptation was too strong to allude to it (or IT) in the title. A little (questionable) humour aside, Banco Sabadell’s Q2 results published last Friday were disappointing as they revealed larger than expected costs from the IT disruptions at TSB (EUR203m net) causing a EUR138.7m for the quarter, but also a large drop in the fully-loaded CET1 ratio (to 11% from 12% over the quarter) due to various elements, includ...
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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.
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