The quarterly results were impacted by the ongoing reduction of the strong contribution from carry-trade gains and to a lesser extent by the stock market’s turmoil and the new customer centric commercial strategy. On the positive side, the reduction in operating costs and loan impairments are ahead of expectations. The solvency position improved further but remains strongly reliant on deferred tax assets.
17 May 2016
Carry-trade normalisation continues to weigh on profit trajectory
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Carry-trade normalisation continues to weigh on profit trajectory
- Published:
17 May 2016 -
Author:
David Grinsztajn -
Pages:
3
The quarterly results were impacted by the ongoing reduction of the strong contribution from carry-trade gains and to a lesser extent by the stock market’s turmoil and the new customer centric commercial strategy. On the positive side, the reduction in operating costs and loan impairments are ahead of expectations. The solvency position improved further but remains strongly reliant on deferred tax assets.