European banks net interest income

Caixabank has very efficient cost structures

Spain And Italy Will Dominate Net Interest Income Growth in 2019

Morgan Stanley believes Spain and Italy are going to dominate Net Interest Income growth in 2019. They flag that Unicaja, Bankinter and Caixabank are amongst the banks which improve their ROTE more with every 50 bp rise in the Euribor. Furthermore, they have very efficient cost structures.