Quarterly results suffered strong competitive pressure and elevated cost of risk. The cost of risk normalisation is a major profitability lever but visibility on the pace of reduction remains low, especially if the current global turmoil and the domestic political instability turn into economic slowdown.
03 Feb 2016
Top line pressure, limited visibility on cost of risk lever
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Top line pressure, limited visibility on cost of risk lever
Quarterly results suffered strong competitive pressure and elevated cost of risk. The cost of risk normalisation is a major profitability lever but visibility on the pace of reduction remains low, especially if the current global turmoil and the domestic political instability turn into economic slowdown.