Credito Real: CREAL, Quarterly Report 1Q21: A year start with more challenges than expected

  • One-time effects limited the recovery, which coupled with a high provisions level led to a 70.7% y/y net income drop

  • Recovery looms with more challenges than expected. Meanwhile, focus remains on asset quality and higher profitability

  • Valuation remains very attractive, however latent risks need to be assessed, thus we will be updating our perspectives

May 4th, 2021
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