Report
Steven Gould

CaixaBank : Le T1 2020 suggère un point de départ plutôt solide face à la crise COVID

>Opérationnel underlying sans fausse note vs anticipation du COVID - CaixaBank a publié au T1 2020 un RN de 90 M€ bien en deçà des attentes (consensus  368 M€), essentiellement suite à l’effort additionnel de provisionnement en anticipation de l’impact du COVID-19 sur la qualité des crédits (0.4 Md€). Hors ce one-off, la copie opérationnelle (top line, coûts et même CdR) est marquée de façon assez logique par 2 périodes distinctes (Janvier/Février globalement sans mau...
Underlying
CaixaBank SA

Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.

Provider
Oddo BHF
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.

Analysts
Steven Gould

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