Quarterly results were characterised by impressive NII resilience and rapid asset quality normalisation. TSB integration is well on track. Management confirmed its 10% ROTE objective for 2016. It is working on its new three-year business plan but no surprise should be expected. Pending regulatory reforms or potential retroactive mortgage removal are not expected to have any material impact on the equity position.
03 Feb 2016
Impressive NII resilience, still elevated cost of risk
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Impressive NII resilience, still elevated cost of risk
Banco de Sabadell SA (SAB:WBO) | 0 0 0.8% | Mkt Cap: 10,227m
- Published:
03 Feb 2016 -
Author:
David Grinsztajn -
Pages:
3
Quarterly results were characterised by impressive NII resilience and rapid asset quality normalisation. TSB integration is well on track. Management confirmed its 10% ROTE objective for 2016. It is working on its new three-year business plan but no surprise should be expected. Pending regulatory reforms or potential retroactive mortgage removal are not expected to have any material impact on the equity position.