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      French banks quarterly: sobering times

      21/9/2023 Research EN

      French banks quarterly: sobering times

      Net interest margins in domestic retail banking are being squeezed but net income will remain in an acceptable range for 2023, thanks to low cost of risk, solid contributions from other business lines and limited growth in expenses.

      SG strategy update: it doesn’t have to be fancy

      18/9/2023 Research EN

      SG strategy update: it doesn’t have to be fancy

      We view Société Générale’s strategy update as a realistic and comprehensive focus on the group’s existing challenges. It lacks big surprises because some of the target metrics are just the ones to be expected today from a leading European bank.

      Webinar – Digital payments revolution threatens banks’ comfort zone

      14/9/2023 Research EN

      Webinar – Digital payments revolution threatens banks’ comfort zone

      Thursday, October 12th 2023 - 3:30 PM (CEST)

      The Wide Angle: Digital payments revolution threatens banks’ comfort zone

      12/9/2023 Research EN

      The Wide Angle: Digital payments revolution threatens banks’ comfort zone

      The digital payments revolution suggests that banks, particularly slow technology adapters, will face growing challenges to their role. The surging presence of non-bank Payment Institutions represents a rising problem for ill-prepared incumbent banks.

      Erste Bank preps new AT1

      5/9/2023 Research EN

      Erste Bank preps new AT1

      Erste Group Bank AG is in the market with a temporary write-down 5.125%-trigger AT1 with a call at 5.6 years (commencing 15 October 2028), alongside a tender offer for the outstanding 6.5% AT1 callable in April 2024.

      Government proposal could inflict significant collateral damage on Italian NPL market

      4/9/2023 Research EN

      Government proposal could inflict significant collateral damage on Italian NPL market

      Italian government proposal AC 843, aimed at supporting borrowers in financial difficulty by giving them the option to buy back exposures already sold to third parties through ABS or loan disposals, has created significant turbulence in the NPL market.

      Webinar – Italy’s proposed law on NPL buybacks

      31/8/2023 Research EN

      Webinar – Italy’s proposed law on NPL buybacks

      Monday, September 4th 2023 - 3:30 PM (CEST)

      Norwegian banks: material CRE exposure manageable despite pressures

      30/8/2023 Research EN

      Norwegian banks: material CRE exposure manageable despite pressures

      Norwegian bank asset quality is underpinned by a resilient and wealthy economy and a high proportion of residential mortgages with low default rates. Commercial real estate accounts for almost half of corporate lending but this should be manageable.

      Spanish Bank Quarterly: earnings solid but limited room for growth from here

      10/8/2023 Research EN

      Spanish Bank Quarterly: earnings solid but limited room for growth from here

      Spanish bank earnings continued to improve in Q2, driven by margin expansion and low credit impairments. Liquidity and funding metrics confirm the strength of balance sheets. We see limited room for further improvements from here, though.

      Italian Bank Quarterly: record Q2 results will be hard to repeat as windfall tax looms

      9/8/2023 Research EN

      Italian Bank Quarterly: record Q2 results will be hard to repeat as windfall tax looms

      The positive momentum for Italian banks continued in Q2, resulting in an excellent set of results, driven mainly by wider interest margins and low loan-loss provisions. But the proposed windfall tax will curtail profitability in the second half.