KBC : A case of surplus capital
>Q2 2018: results in line with expectations - Following a change in analyst covering the stock (Alex Koagne vs Jean Sassus), we reiterate our Neutral recommendation and € 73 target price. KBC’s net profit came out at € 692m, roughly in line with the expected € 688m. Core revenue (net interest income and fees/commissions) and operating expenses were in line with expectations and only provisions turned out to be slightly below the consensus (€ 1m vs -€ 9m expected). We...KBC Ancora's principal activity is the maintenance and management of its shareholding in KBC Group with a view to ensuring, in collaboration with Cera, MRBB and the Other Permanent Shareholders, the shareholder stability and continuity of KBC Group. Co.'s assets consist almost entirely of this participating interest in KBC Group. Thus its recurrent income consists principally of the dividend it receives from its participating interest in KBC Group.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.