The fourth quarter results were depressed by systemic charges and the full provisioning of the residual exposure to the retroactive removal of mortgage floors. Operating trends show strong revenue momentum supported by: 1/ a notable net interest margin widening driven by a loan-mix change in favour of unsecured loans, and 2/ a healthy fee income generation. They also show impressive ongoing efficiency gains and particularly benign asset quality trends. Mortgage-driven loan book shrinkage cont
30 Jan 2017
Improved profit margin and payout on shrinking loan book
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Improved profit margin and payout on shrinking loan book
- Published:
30 Jan 2017 -
Author:
David Grinsztajn - Pages:
The fourth quarter results were depressed by systemic charges and the full provisioning of the residual exposure to the retroactive removal of mortgage floors. Operating trends show strong revenue momentum supported by: 1/ a notable net interest margin widening driven by a loan-mix change in favour of unsecured loans, and 2/ a healthy fee income generation. They also show impressive ongoing efficiency gains and particularly benign asset quality trends. Mortgage-driven loan book shrinkage cont