CaixaBank : Q2 2020 confirms the group’s good positioning against the crisis
>Operational performances relatively reassuring... - Q2 2020 < forecasts (net profit of € 115m vs € 198m for the consensus), primarily due to an additional effort on early/COVID-19 provisions (€ 0.8bn vs € 0.6bn for the consensus). Beyond this, the underlying operational performance (top line, costs) was fairly reassuring. :Core revenue held out relatively well (NII and commissions, respectively, +1% and +2% vs the consensus) despite a clearly difficult context d...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.
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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