CYBG plc

Running hard to stand still

  • Sectors : Banks
  • Companies : CYBG plc

Ratings and price correct at time of issue.

  • CYBG plc

    Closing Price: 197p

  • RATING 28/05/19

  • PREVIOUS RATING N/A

DAVY VIEW

CYBG is working hard to offset the challenging UK retail banking backdrop – repositioning its balance sheet and seeking further cost efficiencies. We expect returns to increase in the coming years but to remain below management’s 12% 2022 statutory ROTE target as we factor in a lower interest rate environment due to the uncertain economic backdrop. As a result, we retain our ‘Neutral’ rating with a price target of 207p.

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Jul 10 2019, 06:45 IST/BST

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