Report

CaixaBank : Recommendations lowered to Neutral in a ‘wait-and-see’ mode pending decision on the IRPH case; credit opinion Stable

We are reviewing our Positive credit opinion on CaixaBank as the potential for further improvement in its (good) credit profile now looks limited. Our Positive credit opinion was based on tailwinds from the supportive operating environment in Spain and Portugal and essentially the benefits on the group’s creditworthiness (asset quality, profitability and capital) of the sound performance of both economies given CaixaBank’s strong franchise in both countries. As growth prospects d...
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.

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