Take a fresh look at your lifestyle.

Sabadell: "We are a particularly cheap bank, but it does not affect our performance"

0



Sabadell it looks realistic and he thinks that it is a bank "especially cheap" in stock market, but consider that he is not the only one. "The market is the market. We are an especially cheap bank, but in the market all banks are especially cheap, with some exceptions," he explained. Josep Oliu, President of Sabadell, this Friday during the presentation of results of the entity.

However, Oliu has pointed out that this circumstance "does not affect" the day to day of the bank Nor to his performances. The last closing price of Sabadell, registered on Thursday, is of 0.946 euros per share, although this Friday the market is not accepting very well the results that the bank presented yesterday at the close of the market and is punishing it with a 10% decrease.

Jaime Guardiola, CEO of the bank, considers that these falls may have to do with the fact that they had to make a adjustment on the price announced for the sale of a series of asset portfolios whose exit was signed at the end of the year, specifically of Coliseum, Challenger Y Rex, that have gone to the hands of Cerberus.

"They have this additional setting in an unexpected way and it can be the main cause of this movement in the market, which we will see how it is concretized, "he explained.

However, he has rejected that the stock market crash has to do with bad prospects for the current year, as some analysts are already saying. "We have done a realistic exercise", Guardiola said, who has argued that Sabadell's balance position "compares fantastically well with peers"For the bank, the balance is the" priority ", which implies including less buoyant forecasts. In addition, he explained that if the bank did not have to make investments for digitization "Maybe the results account would look better, but Sabadell would be left behind."

On the other hand, Oliu wanted to clarify his words about I didn't rule out a merger and has clarified that "day by day" in Sabadell do not contemplate leading any operation corporate, not even with Bankia, with whom he already maintained contacts in the past for an integration, who were frustrated by stock market falls, as he advanced Bolsamanía.

SALE OF THE MANAGER

On the other hand, Sabadell expects to compensate with this year higher commissions of the distribution of investment funds after your alliance with Amundi the lowest income for not already having it, which will be about 34 million annually.

"We have done this operation to grow", Guardiola said, who recalled that when Sabadell decided to sell his insurance business, it took three years to earn more income than before getting rid of him and they hope to repeat the operation, although he acknowledges that he cannot know "what the speed will be." "From the zero minute we count on increasing commissions," he added.

.



Leave A Reply

Your email address will not be published.