elnidodelaguila (< 20)

Bankinter (BKT) on Spanish Ibex; a little hidden gem

June 14, 2012 – Comments (3) | RELATED TICKERS: EWP

Good Afternoon:After all bad news, including Spanish´s debt downgrade, are in the air. It seems to me that Spanish markets presents an unique risk/reward window to get into real undervalued companies with value to investors that have a patient and long optimistic view that apocalypse isn´t here...yet.

I want to advice you about a little hidden gem in the Spanish financial sector. It´s called Bankinter $BKT in Spanish Ibex. It´s a domestic bank with interest on insurance business, but with little exposure to mortgage business, has a great multichannel technological platform, very competitive in online banking, with a seasoned and conservative management.

It doesn´t need public funds from Taxpayers, or European bailouts to survive, due its fine financialshttps://docs.bankinter.com/stf/web_corporativa/informacion_financiera/info_financiera/resultados/2012_es/financial_information1q12.pdf. Its balance sheet is clean and it will pass last Spanish banking audits with a bright spot http://www.marketwatch.com/story/spain-auditors-estimate-lenders-need-60b-report-2012-06-14?link=MW_home_latest_news

Bankinter it´s trading at less than its book value, 0.4 book value ratio, so Swing trading Long $BKT has a nice reward/risk ratio.

Have a nice Swing trade.

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