WOOD Flash – Bank of Cyprus: 3Q20 in line, realistic medium-term targets
Bank of Cyprus has reported 3Q20 results that are broadly in line with our forecasts, with a reassuring set of medium-term targets (NPE ratio at 5%, ROTE of c.7%). We believe that the strategy update is realistic, and takes into account the challenges in NII and costs, while it provides a reassuring target to de-risk the bank, and improve revenues and efficiency.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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