Report
CRELAN : Initiation of coverage
We are initiating coverage of Crelan with a positive credit opinion and a Buy market recommendation. - Crelan is a Belgian cooperative banking group founded in 1937 that acquired Axa Bank Belgium in 2021. This acquisition doubles the size of Crelan’s balance sheet, which is now ranked in fifth position in the Belgian banking market. This change of scale comes with new requirements and obliges Crelan to issue on the bond market to build up its stock of bailinable debt. The bank has ...
Provider
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.
Carine Maciol
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