Total revenues for Q3 16 are in line with expectations but these were driven by both the volatile trading income and other income while core revenues (net interest income and net fees and commissions) were quite disappointing. Expenses were better still due to lower than anticipated restructuring charges and IT expenses, offsetting therefore a higher cost of risk for Q3 16. Capital building is still going on as this was 50bp higher than in Q2 16 at 15.7%.
27 Oct 2016
Not reassuring in P&L terms but the market is appreciating the capital building story...
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Not reassuring in P&L terms but the market is appreciating the capital building story...
Total revenues for Q3 16 are in line with expectations but these were driven by both the volatile trading income and other income while core revenues (net interest income and net fees and commissions) were quite disappointing. Expenses were better still due to lower than anticipated restructuring charges and IT expenses, offsetting therefore a higher cost of risk for Q3 16. Capital building is still going on as this was 50bp higher than in Q2 16 at 15.7%.