Grupo Financiero Galicia: Early signs of recovery, but patience required

研报英文原文证据摘录

Grupo Financiero Galicia: Early signs of recovery, but patience required

Latin America - Financials Coverage Cluster

Investment rating Company BofA Ticker Bloomberg symbol Analyst

PagSeguro Digital Ltd PAGS PAGS US Mario Pierry

PicPay PICS PICS US Mario Pierry

Regional RGNLF RA MM Ernesto Gabilondo

StoneCo STNE STNE US Mario Pierry

NEUTRAL

B3 XIMAF B3SA3 BZ Mario Pierry

B3 BOLSY BOLSY US Mario Pierry

Banco Chile-ADR BCH BCH US Ernesto Gabilondo

Banco de Chile XHNDF CHILE CI Ernesto Gabilondo

Banco Santander Chile BSAC BSAC US Ernesto Gabilondo

Banco Santander Chile XLDTF BSAN CI Ernesto Gabilondo

BB Seguridade XBDPF BBSE3 BZ Mario Pierry

BB Seguridade BBSEY BBSEY US Mario Pierry

BCI BZCIF BCI CI Ernesto Gabilondo

Grupo BMV BOMXF BOLSAA MM Ernesto Gabilondo

Nubank NU NU US Mario Pierry

Porto Seguro PSGUF PSSA3 BZ Mario Pierry

Santander Brasil XCBDF SANB11 BZ Mario Pierry

Santander Brasil BSBR BSBR US Mario Pierry

Supervielle SUPV SUPV US Ernesto Gabilondo

Supervielle XAZFF SUPV AR Ernesto Gabilondo

XP Inc. XP XP US Mario Pierry

UNDERPERFORM

ABC Brasil XBABF ABCB4 BZ Antonio Ruette

Banco do Brasil XBBAF BBAS3 BZ Mario Pierry

Banco do Brasil BDORY BDORY US Mario Pierry

Banrisul XGRBF BRSR6 BZ Antonio Ruette

Cibest CIB CIB US Ernesto Gabilondo

Cibest XGCUF PFCIBEST CB Ernesto Gabilondo

GFInbur GPFOF GFINBURO MM Ernesto Gabilondo

Qualitas QUCOF Q* MM Ernesto Gabilondo

iQmethod SM Measures Definitions

Business Performance Numerator Denominator

Return On Capital Employed NOPAT = (EBIT + Interest Income) × (1 − Tax Rate) + Goodwill Amortization Total Assets − Current Liabilities + ST Debt + Accumulated Goodwill

Amortization

Return On Equity Net Income Shareholders’ Equity

Operating Margin Operating Profit Sales

Earnings Growth Expected 5 Year CAGR From Latest Actual N/A