saw some Delta one guys, shorting the Dividend on BNP this morning @ 1.45, bbg consensus is indicating 1.50
BNP is supposed to announce dvd on the 5th of Feb (Thu)
(MS French Banks 29012015) Ongoing NIM pressures and lacklustre CIB to weigh on revenue progression. Capital and distribution remains in key focus - Natixis remains most appealing given potential for outsized payout, plus USD benefit, below cons for EPS/DPS for BNP, SG, CASA.
see notes attached