Some Spanish press reports have pointed out the large amount of DTAs accumulated by Banco Popular (€4.9bn as at end December 2016) as a pivotal motive behind Santander’s move. We confirm that, like for many other Southern European banks, Popular’s accumulated DTAs were a sensitive aspect to factor in when assessing the group’s fundamental valuation. However, we do not consider them as the war chest that some people evoke.
20 Jun 2017
Popular’s DTAs
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Popular’s DTAs
Banco Santander, S.A. (BNC:LON) | 388 0 0.0% | Mkt Cap: 61,324m
- Published:
20 Jun 2017 -
Author:
David Grinsztajn -
Pages:
2
Some Spanish press reports have pointed out the large amount of DTAs accumulated by Banco Popular (€4.9bn as at end December 2016) as a pivotal motive behind Santander’s move. We confirm that, like for many other Southern European banks, Popular’s accumulated DTAs were a sensitive aspect to factor in when assessing the group’s fundamental valuation. However, we do not consider them as the war chest that some people evoke.