Due to ECB recommendations, Siauliu Bank’s (SAB) 2020 dividend yield is capped at 1.2%. The “restrictions” are expected to be lifted in Sep. 2021, which could lead to a significant yield improvement in 2022 and beyond
Nice yield coming up Read More »
Siauliu Bankas (SAB) Q3/20 results held up well in a difficult market beating our forecast. Core operations are slowing but still growing, and provisions are significantly down from recent averages. Investors are pricing in negative scenarios for LT ROEs that are not being realized, even in the ongoing crisis.
Asset quality concerns allayed Read More »
Siauliu Bankas (SAB) has been gaining share of an underbanked market, and this trend should pause only briefly in 2020. We see limited justification for SAB’s heavy discount to book value given our ROE outlook and Lithuania’s strong structural story. Short-term, global health crisis risks are high, but long-term prospects remain intact.
Grace under pressure Read More »
