Raiffeisen Research Institutional Equity Daily 12.11.2021
MSCI November Index Review - ADD: mBank (from SC); Frontier Markets (FM) changes: ADD: Medlife (to SC) DE: Encavis - Encavis acquired 74 MWp solar capacity in the Netherlands (positive)
HU: MOL - Hungary is considering introducing a price cap on fuel retail prices for three months starting November 15 (negative)
HU: OTP - The CEO commenting on acquisition plans (neutral)
RO: Banca Transilvania - Q3 21 net profit up by 82% qoq to RON 653 mn (positive)
RO: Digi Communications - Q3 21 in the red due to higher income tax expenses (neutral)
RO: Medlife - Medlife announced the acquisition of OncoCard Hospital Brasov (positive)
RO: Medlife - Q3 21 bottom line slides 18% on the grounds of higher opex, 26% yoy (negative)
RO: Romgaz - Stronger qoq Q3 21 earnings, but Upstream disappointed and proved again the unfairness of domestic fiscal regime (negative)
RO: Transgaz - Q3 21 net profit negative on the back of higher opex, 17% yoy (negative)
RU: Russian Steel - Russian Minister of Finance rejected potential extension of steel export duties after 2021e (positive)
SI: NLB Group - Q3 beat coming from releases / finetuning of 2023 outlook (neutral)
mBank is a provider of comprehensive corporate banking services in Poland. Co. and its subsidiaries make up the mBank Group which is engaged in offering financial services. Co.'s service offering includes a comprehensive financial offer tailored to the needs of corporate clients, Private Banking clients, and retail clients. The business activities of Co. is conducted in the following business segments: Retail Banking and Corporates and Markets.
Magyar Olaj-Es Gazipari is an integrated oil and gas enterprise based in Hungary and active in central and eastern Europe. Co.'s core activities include: exploration and production of crude oil, natural gas and gas products; refining, transportation, storage and distribution of crude oil products in both retail and wholesale markets; importation, transportation, storage and wholesale trading of natural gas and other gas products; and the production and sale of olefins and polyolefins. TVK, the petrochemical affiliate of Co., is an olefin and polyolefin producer in Hungary.
NLB dd is a Slovenia-based company, which is primarily involved in the financial services industry. The Company operates as a parent company of NLB Group and has a number of subsidiaries, such as NLB Banka Banja Luka, NLB Banka Sarajevo, NLB Banka Prishtina, NLB Nov penziski fond Skopje, NLB Tutunska Banka Skopje, NLB Bank Podgorica, Bankart, Nova ljubljanska banka, NLB Skladi, NLB Vita, NLB Banka Belgrade, NLB Srbija Beograd, NLB Leasing Sarajevo, Prvi Paktor Sarajevo, NLB Leasing Sofia, Optima Leasing Zagred, among others. The Company operates in such countries, as Slovenia, Bosnia and herzegovina, Kosovo, Macedonia, Montenegro, Serbia, Bulgaria, Croatia, Czech Republic, Germany, Italy, Switzerland, among others.
OTP Bank is a financial institution based in Hungary. Co. is engaged in retail banking (account management, bankcards and Electronic sevices - OTPdirekt) corporate banking and private banking. In Hungary traditional banking operations are performed by Co. while specialized services, including car leasing, investment funds and insurance are developed and offered by Co.'s subsidiaries. Co. expands its operations throughout the region via its foreign subsidiaries. As of Dec 31 2011, Co. had total assets of HUF10,200,527,000,000 and deposits of HUF6,398,853,000,000.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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