Credito Real (BB-/BB): did the market overreact again?
smartmoney.onesee note). An analyst suggested the company would have likely reported a net loss for the quarter if it hadn’t adjusted the value of a loan portfolio it bought from retailer Famsa’s failed bank.The assumption triggered negative news.The note did not provide any final figures, other than an assumption that the July-September 2021 book interest income could have been $20 mln.According to the official audited IFRS results, Credito Real's net profit for the period was $10 mln and the company has earned a total of $24 mln since the beginning of the year.Thus, even if we adopt an overly conservative approach and adjust profits by the above figure, cumulatively, since the beginning of the year, the gauge would still be positive.