BBVA : Q2 2023 is reassuring on the key elements (operating performance/balance sheet)
>Neutral rating maintained – target price raised to € 8.8 (vs € 8.2) - BBVA reported net income above forecasts at € 2.0bn (+13% vs consensus), driven by lower loan-loss provisions and costs (-6% & -2% respectively vs cons) while the top line was in line (NII +2% vs cons). The group has lifted its medium-term financial targets (notably RoTE expected in the ‘high teens’ vs 14% & cost-income ratio slightly lower than the 42% initially expected for 2024) and announced ad...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.
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