ING and CASA – Beacons in the Dark: Jefferies

During the third quarter, ING Groep NV (ADR) (NYSE:ING) is set to benefit from NIM, while Credit Agricole SA (EPA:ACA) (OTCMKTS:CRARY)’s CET1 will be improved. Accordingly, Jefferies analysts have assigned a ‘Buy’ rating on both banks

Omar Fall and the team at Jefferies in their research note dated October 21, 2014, titled: “ING and CASA – Beacons in the Dark” point out all three French banks viz.: Grupo Casa Saba, S.A. (ADR) (OTCMKTS:GCSAY), BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY), and Societe Generale SA (EPA:GLE) (OTCMKTS:SCGLY) have recently experienced sizable gains through their Available for Sale (AFS) portfolio.

ING’s NIM would continue to expand

The Jefferies analysts mention that they had been concerned that the rapid NIM expansion witnessed at ING Groep...