Bankia released better than expected quarterly results. Management will disclose its new business plan within two months. The cost of risk is expected to overshoot this year, helping to alleviate the top line pressure stemming from carry trade attrition and commercial efforts to strengthen the franchise. Regulatory and legal risks are not seen material enough to undermine the equity position.
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Favourable operating trends hidden by carry trade attrition
- Published:
02 Feb 2016 -
Author:
David Grinsztajn -
Pages:
3
Bankia released better than expected quarterly results. Management will disclose its new business plan within two months. The cost of risk is expected to overshoot this year, helping to alleviate the top line pressure stemming from carry trade attrition and commercial efforts to strengthen the franchise. Regulatory and legal risks are not seen material enough to undermine the equity position.