The first-half’s profitability skyrocketed to excessive levels driven by a stronger-than-expected net interest margin widening. This performance should be repeated in the second half. It remains to be seen where the management will place the new sustainable profitability, but it is likely to be at least in the mid-teens.

03 Aug 2023
Indecent profitability levels

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Indecent profitability levels
The first-half’s profitability skyrocketed to excessive levels driven by a stronger-than-expected net interest margin widening. This performance should be repeated in the second half. It remains to be seen where the management will place the new sustainable profitability, but it is likely to be at least in the mid-teens.