BBVA - Banco De Sabadell: Higher Profitability May Lead To A Re-Rating Of Its Shares
Banco de Sabadell (OTCPK:BNDSY) has a discounted valuation compared to its closest peers and a re-rating is possible due to higher profitability in the coming years, as the bank continues to fix its balance sheet. Sabadell is a Spanish bank with relatively good growth prospects, while profitability is expected to improve through several factors, of which lower exposure to non-performing assets is key, and its valuation discount should narrow in the medium term.
Company Overview
Banco de Sabadell is Spain’s fourth-largest privately held banking group, offering retail, corporate, commercial and private banking, while