The first quarter results showed top-line pressure driven by the strong competition on SMEs loans and the market’s turmoil. The rapid normalisation of trading income generation expected over the coming quarters will not help. Although the reduction in operating costs is on track with the balance sheet downsizing, the cost of risk normalisation continues to be seen as only very progressive in spite of a confirmed reversal in asset quality trends. As a positive, the ongoing capital genera
17 May 2016
EPS cuts on lower trading income generation
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
EPS cuts on lower trading income generation
The first quarter results showed top-line pressure driven by the strong competition on SMEs loans and the market’s turmoil. The rapid normalisation of trading income generation expected over the coming quarters will not help. Although the reduction in operating costs is on track with the balance sheet downsizing, the cost of risk normalisation continues to be seen as only very progressive in spite of a confirmed reversal in asset quality trends. As a positive, the ongoing capital genera