Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BANKIA SA. We currently have 7 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
BMN arranged marriage
15 Mar 17
Pressurised by the ECB, the FROB has announced that it considers a combination of Bankia and Banco Mare Nostrum (BMN), both controlled at 65%, as the best solution. In response, Bankia stated that it will perform its own analysis before envisaging submitting such a deal to its shareholders.
Improved profit margin and payout on shrinking loan book
30 Jan 17
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 continued to support ongoing organic excess capital generation (around +20bp in the quarter) which led management to increase the payout ratio to 40%.
Stronger resilience on cost flexibility and benign cost of risk
22 Jul 16
The group reported better-than-expected second quarter results thanks to impressive efficiency gains and a benign cost of risk. This has more than offset the sharper impact of low interest rates on the net interest income. The capital position has improved markedly.
Carry-trade normalisation continues to weigh on profit trajectory
17 May 16
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.
Favourable operating trends hidden by carry trade attrition
02 Feb 16
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.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
N+1 Singer - Morning Song 23-03-2017
23 Mar 17
eg solutions (EGS LN) Re-focusing on sales is delivering rewards | Futura Medical (FUM LN) FY results: continued clinical, regulatory and commercial progress | Halfords Group (HFD LN) Confidence in FX mitigation grows; stay at BUY | IFG Group (IFP LN) Top line growth but earnings pressures remain | Realm Therapeutics (RLM LN) FY results in line; on track for Phase II start in 2017 | Safestyle UK (SFE LN) Another good full year performance but valuation up with events | WYG (WYG LN) Mixed conclusion to FY17, reassuring FY18 outlook