Analysts depend on the recovery of the banking sector
Andrés Venegas Loaiza – [email protected]
At the end of the week was news in the financial sector call the president & # 39; Asobancaria, Santiago Castro, to stop the execution of & # 39; what he called "campaign & # 39; economic panic" where investors are invited to sell shares in the & # 39; some financial groups, with speculation & # 39; predictable crash of the stock market.
The call to the officer at a time when the problems involving the Aval Group companies (the largest banking group in the country), with Odebrecht case, which caused their shares fall in the market shares.
However, LR has the task of looking at the forecasts & # 39; species under the group species and other banking financial analysts, and found that before any of these actions had negative expectations, away from the noise & # 39; reputation and contrast, as the banking sector are expected to have good air in 2019.
In short, the companies share & # 39; Grupo Aval seen as species that analysts have the best weight price of & # 39; target; so that the preferential share & # 39; Corficolombiana, the principal affected by the scandals, can & # 39; rises to 102% at its current price, while the ordinary shares can & # 39; recovers 91.2%; are those & # 39; best projection.
Alexandra cely, Equities Analyst & # 39; Valores y Valores commented that "it is really true that the topic of & # 39; economic panic generated by the expectation that the market had on the subject of Aval Group", however , indicated that to better financial results that companies are b & # 39; health thanks to their foundations, so both they and others in the banking sector "appear in the medium term as a great opportunity".
When asked if this reduction faces the actions of the group can & # 39; cause contagion in the sector, Carlos Rodriguez, director of equity & # 39; Ultraserfinco, said that "always in the market there are rumors and gossip, but the reality is that banks today are positioned well both in & # 39; coverage & # 39; due loans as well as levels & # 39; capitalization their ".
The analyst added that in the specific case of & # 39; Grupo Aval, the fundamentals have proved more b & # 39; health noise, and noted that "the question of the Ruta del Sol has been in Colombia for over two years and what to see in the results of the company's insurance is that the fundamentals prevail over the media risk ".
Omar Suárez, the equity manager of Casa de Bolsa, stressed that 2018 was a year & # 39; in the portfolio reduction, "a situation that has deteriorated the quality and increased costs in & # 39; provisions affecting the -ROE and net profit of the bank ", without However, the specialist provides that by 2019 is expected to see signs of & # 39; & # 39 improvements in; these factors.
Precisely at the end of & # 39; monthly report revealed by the Financial Superintendence, demonstrated that banks were recovering and eight out of 10 of these entities have increased their profits compared to 2017.
"We recommend the banking sector for the year & # 39; later supported by faster growth portfolio that can & # 39; reach 8% and a decrease in the portfolio due to the release of & # 39; some big customers such Electricaribe make the utilities to improve ", confirmed Rodriguez.
On the other hand cely says that "despite the sounds negative recommendation is made precisely because they are standing and not in their fundamental principles, which are b & # 39; health".
The Aval Group is the main shareholder and the holder of Banco Popular, b & # 39; & # 39 share, 93.70%; Banco Av Vilas, to 79.90%; Banco de Occidente, b & # 39; & # 39 share, 72.30%; Banco Bogotá which is 68.70%; and Porvenir, which has a share & # 39; 20%. The Corficolombiana corporation is a subsidiary of Banco de Bogotá, b & # 39; & # 39 share, 32.93% of its participation.
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