The group managed to post a modest profit in Q4 in spite of several seasonal or non-recurring charges thanks to a benign underlying cost of risk. The top line proved resilient, activity volumes were encouraging and the quarter enjoyed further cost reductions. TSB’s migration due by the end of the year is proceeding according to plan while the platform is already almost fully operational. The equity position remained stable at a comfortable level, while the residual exposure to the mortg
30 Jan 2017
Encouraging underlying operating performance
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Encouraging underlying operating performance
Banco de Sabadell SA (SAB:WBO) | 0 0 0.8% | Mkt Cap: 10,227m
- Published:
30 Jan 2017 -
Author:
David Grinsztajn -
Pages:
3
The group managed to post a modest profit in Q4 in spite of several seasonal or non-recurring charges thanks to a benign underlying cost of risk. The top line proved resilient, activity volumes were encouraging and the quarter enjoyed further cost reductions. TSB’s migration due by the end of the year is proceeding according to plan while the platform is already almost fully operational. The equity position remained stable at a comfortable level, while the residual exposure to the mortg