WBAG:RBIBanks
Raiffeisen Bank International (WBAG:RBI) Stock Rallies Into A Profitability Squeeze
Raiffeisen Bank International walked into this earnings season with a reputation for rich valuation and messy legacy issues, yet the stock sits at €59.40 after a strong 90 day run of about 28%. The market has been willing to pay a P/E of 19.2x for a bank that still carries a relatively high non performing loan ratio and compressed net margin.
The headline from this quarter is the profitability squeeze. Trailing net margin stands at 11.5% compared with 20.7% a year earlier, held back by a...