Caixabank Shares Tumble After Interest-Income Guidance is Left Unchanged
28 Octubre 2022 - 4:15AM
Noticias Dow Jones
By Ed Frankl
Caixabank SA shares slumped in early trading Friday after it
maintained guidance despite profits being ahead of
expectations.
At 0830 GMT shares were down 4.6% to EUR3.38.
The Spanish bank reported third-quarter net profit at 884
million euros ($881 million), 13% ahead of consensus, driven by net
interest income and lower provisions.
Net interest income of EUR1.69 billion came in ahead of
expectations, and leaves the lender well on track to beat its
EUR6.3 billion-EUR6.4 billion NII guidance for the year, Citi
analysts said in a research note.
But even with the strong performance, Caixabank provided no
update NII guidance in the fourth quarter, the analysts said.
Consensus is already running well ahead of the 2022 NII
guidance, Jefferies analysts said in a note.
Shares have also performed strongly in recent months, the Citi
analysts add, which could lead to some selloffs.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 28, 2022 05:00 ET (09:00 GMT)
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