Bastide reported a 4.3% sales growth for 2023-2024, reaching €529.8 million, alongside a 5.9% increase in EBITDA to €107.6 million, with a margin of 20.3%. The company remains optimistic about achieving over €560 million in sales for the current fiscal year, driven by strong performance in home healthcare services and cost control measures. Additionally, Bastide aims to improve its recurring operating margin and reduce debt ratios.
Italy’s financial police have placed Banca Progetto SpA under judicial administration due to allegations of providing loans to companies associated with criminal organizations. The court found that several firms, indirectly managed by individuals linked to the ‘ndrangheta, received state-backed loans from the bank.
The UK government has unveiled the Modern Industrial Strategy, "Invest 2035," emphasizing the life sciences sector's potential to drive economic growth and enhance health outcomes. With over 6,800 businesses generating £100 billion in turnover, the sector is poised for innovation through new discoveries, AI, and personalized healthcare. Industry feedback is invited to refine the strategy ahead of its full launch in Spring 2025.
UBS has raised its target price for Svenska Handelsbanken to SEK 99 while maintaining a sell recommendation. The bank, a leading Scandinavian group, derives 96.5% of its income from commercial banking and manages SEK 1,298.5 billion in deposits and SEK 2,282.2 billion in loans as of the end of 2023. Geographically, 64% of its income comes from Sweden, followed by the UK at 21.3%.
10:06 24.10.2024
UBS has raised its target price for Swedbank to SEK 249, maintaining a Buy rating. Swedbank AB operates primarily in retail banking, which accounts for 81.4% of its revenues, with significant operations in Sweden and the Baltic States. The group also engages in investment banking and is expanding its asset management and insurance services.
10:06 24.10.2024
UBS has raised its price target for Swedbank to SEK 249, maintaining a Buy rating. Swedbank operates primarily in retail banking, generating 81.4% of its revenues, with significant contributions from Sweden and the Baltic States. The group also engages in investment banking and asset management, managing SEK 1,305.9 billion in deposits and SEK 1,842.8 billion in loans as of the end of 2022.
10:06 24.10.2024
UBS has raised its target price for Swedbank to SEK 249, maintaining a Buy rating. Swedbank operates primarily in retail banking, which accounts for 81.4% of its income, with significant operations in Sweden and the Baltic States. The group also engages in investment banking and asset management, managing SEK 1,305.9 billion in deposits and SEK 1,842.8 billion in loans as of the end of 2022.
10:06 24.10.2024
Swiss healthcare expenditures are projected to surpass 100 billion francs by 2025. Meanwhile, Swiss exports reached a record high in October, driven by the chemical-pharmaceutical sector, while the wealth management sector remains the world's leader, albeit with a narrowing margin over the UK and US. The banking landscape faces challenges following the Credit Suisse crisis, impacting asset inflows from key regions.
10:05 24.10.2024
Piramal Enterprises reported a threefold increase in Q2 profit, reaching Rs 163 crore, while highlighting concerns over a precarious credit environment. The net interest margin improved to 5.1%, up from 4.7% in the same period last year, driven by a shift towards growth assets in its loan portfolio.
Private credit has emerged as a booming market, prompting banks to collaborate with private credit firms despite being traditional competitors in lending. Over the past year, more than a dozen major banks have engaged in partnerships with private credit, raising questions about the potential threat this poses to the banking sector. Huw van Steenis, vice-chair at Oliver Wyman and former bank analyst at Morgan Stanley, discusses this evolving relationship.
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