CaixaBank : Q3 2020 confirms the group’s strength in the face of the crisis
>Reassuring trend at the underlying operating level - CaixaBank reported Q3 2020 net profit of € 522m ahead of expectations (consensus € 314m), mainly driven by a sharper-than-expected fall in the cost of risk whilst the core earnings before provisions (revenues - costs) are slightly better and reflect an acceleration in its recovery (+11% q-o-q and +3% y-o-y). We note: An encouraging trend in core revenues despite the context (low interest rates) at € 2.0bn (+2...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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