Report
Carine Maciol

ETHIAS : Resilient credit - Buy recommendation reiterated on Tier 2 2026

Ethias' recent interim earnings release reflects the resilience of its business and capital ratios to the economic and financial crisis. The end-June 2020 ratio of 177% is admittedly moderate, but it worth noting that Ethias does not use transitional measures on technical provisions. If it needs to shore up the ratio, the group still RT1 issuance capacity. - Reiterating our Stable credit opinion. We can only anticipate moderate growth for the group's premiums and profitability, gi...
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
Carine Maciol

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