Unicredit (UCG IM) – Orcel’s Balancing Act
Andrea Orcel's soon-to-be-confirmed CEO appointment affords UCG shareholders some protection in the BMPS acquisition scenario; we expect a focus on...
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Southern Europe Bank Screens; Picks for 2021
As 2021 Southern Europe bank picks, Unicredit, BPER and BBVA, Caixaban-Bankia stand out in terms of valuation, capital strength and credit quality
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Bankia - CaixaBank: Merger in Progress, Spread Attractive
I recommend keeping an eye on the spread. It closed today (27 October) at a gross 1.66%, an interesting level for a deal that will certainly close...
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European Banks: 2Q20 Capital & Credit Quality Screens
European bank earnings have been hit hard by the need to build loan loss provisions, in the pandemic driven downturn We look at 2Q20 cost of risk...
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European Banks: Balance Sheet Assessments in the Face of Adversity
In this report, we look at balance sheet strength and loan loss provisioning “readiness” and the planned EU pandemic recovery fund EU leaders have...
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