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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessFINANCIALS: Sabadell: 2Q24 Unsurprisingly Positive, Spreads Already Tight
Sabadell (SABSM : BBB- pos/BBB) results headlines are unsurprisingly good as it attempts to fend off the BBVA bid, guidance upgrades (NII, RoTE), CET1 beat, loan losses look 9% better than consensus and NPLs are lower, too. Spreads have been great performers (following the bid), much as these are good numbers, tough to see them pushing tighter, we fear. Positive lateral for other Spanish issuers, though (Caixa, Kutxa, Ibercaja, Abanca, Unicaja).
- “*SABADELL TO RAISE PAYOUT TO 60%, FROM 55% IN 2023
- *SABADELL 2Q CET1 RATIO FULLY-LOADED 13.5%, EST. 13.4%
- *SABADELL 2Q NET INCOME EU483M, EST. EU423M
- *SABADELL 2Q NET INTEREST INCOME EU1.26B, EST. EU1.24B
- *SABADELL SEES FY ROTE ABOVE +13%, SAW ABOVE +12%
- *SABADELL BOOSTS 2024 NII GUIDANCE TO MID-SINGLE DIGIT GROWTH” - BBG
Conf call is 0800 (London time) at: https://sabadellresultados.com/2024_02/
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.