"Открытие Капитал": Bank Vozrozhdenie – 4Q11 preview: hoping for sustainable turnaround
28 марта 2012 года
Bank Vozrozhdenie will report its 4Q11 IFRS results tomorrow, 29 March, followed by an Analyst Day to be held on 30 March. We expect the results to reveal more signs of a sustainable turnaround, with recovering loan growth and NIM helping to alleviate cost pressures. The stock has been a relative underperformer year-to-date, but if it delivers on our more positive (relative to consensus) estimates, it could catch up with the rest of the Russian banking stocks.
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