BBVA : De bons chiffres T2 mais potentiel de rerating limité vs secteur
>Opinion Neutre maintenue – OC porté à 6.3 € (vs 5.9 €) - Le groupe a publié un RN supérieur aux attentes (+72% vs cons), grâce à une meilleure copie sur les principaux postes du P&L (revenus +17% & provisions sur crédits -19% vs cons), et confirme ses objectifs financiers MT (RoTE 14% & ratio C/I 42% en 2024). Notons que le trimestre est marqué par un one-off négatif associé au rachat d’agences en Espagne auprès du groupe immobilier Merlin pour ~200 M€. Nous ajustons...Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
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.
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.