WOOD Flash – Patria Bank: strong bottom-line print in 1Q24, but loan book development remains absent
Overall, we view these results as broadly positive. We are concerned about the lack of development of the balance sheet, but we hope the bank will return to growth mode in the coming quarters. On the other hand, we appreciate the margin resilience, and the bank’s ability to find results elsewhere (namely NFC) and to keep its costs contained. The bottom-line beat was also supported by the low level of provisioning and taxes booked; therefore, replicating it in the coming quarters might be a tall order. Nonetheless, we appreciate the strong print, which also includes the new banking tax.
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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