BBVA : There is potential for a Happy New Year; Buy recommendation maintained on AT1, lowered to Neutral on Tier 2 on lesser outperformance expectations
As 2020 draws near, BBVA clearly faces challenges in the coming year, but we do not expect them to be materially bigger than the ones facing peers. Economic prospects have weakened across the globe and the low interest rate environment is a burden shared by banks especially in Europe but not only. The situation in Turkey (9% of group assets at end-3Q19/8% of net attributable profit in 9M19) has improved since the severe crisis that hit the country in 2018. Admittedly lag effects ...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.