The underlying quarterly profitability remained depressed by heavy impairments while the revenue generation improved markedly. Management’s guidance for 2018 should translate into limited consensus upgrades. The visibility on the group’s fundamental valuation remains largely obscured by the difficulty to assess the level of the across-the-cycle cost of risk.
16 Feb 2018
Ongoing revenue generation improvement
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Ongoing revenue generation improvement
Banco Comercial Portugues S.A. (0RJN:LON) | 0 0 0.0%
- Published:
16 Feb 2018 -
Author:
David Grinsztajn -
Pages:
2
The underlying quarterly profitability remained depressed by heavy impairments while the revenue generation improved markedly. Management’s guidance for 2018 should translate into limited consensus upgrades. The visibility on the group’s fundamental valuation remains largely obscured by the difficulty to assess the level of the across-the-cycle cost of risk.