Sign in

    Fahed Kunwar • Redburn Atlantic

    Fahed Kunwar's questions to Mastercard Inc (MA) leadership

    Fahed Kunwar's questions to Mastercard Inc (MA) leadership • Q2 2025

    Question

    Fahed Kunwar asked about the relative contribution of pricing versus increased customer penetration to the growth in value-added services, and the remaining scope for pricing in services and core payments.

    Answer

    CFO Sachin Mehra emphasized that Mastercard's ability to price is fundamentally linked to the value it delivers. He asserted that as long as the company continues to innovate and provide valuable solutions, there will be future potential for pricing. He framed this not as a short-term tactic but as a long-term outcome of their continuous product and value creation strategy.

    Ask Fintool Equity Research AI

    Fahed Kunwar's questions to Mastercard Inc (MA) leadership • Q3 2024

    Question

    Fahed Kunwar from Redburn Atlantic asked for more detail on Mastercard's pricing strategy, including where there is potential for further price increases across the product suite.

    Answer

    Chief Financial Officer Sachin Mehra reiterated that the company's philosophy is to invest in innovation, deliver value, and then price for that value. He emphasized that in a competitive market, they focus on 'net pricing,' which balances remuneration for investments against the need for rebates and incentives, resulting in what he described as minimal net pricing.

    Ask Fintool Equity Research AI

    Fahed Kunwar's questions to Visa Inc (V) leadership

    Fahed Kunwar's questions to Visa Inc (V) leadership • Q3 2025

    Question

    Fahed Kunwar of Redburn Atlantic asked about the long-term trend of client incentives as a percentage of revenue, noting a recent stabilization after a decade of increases and questioning if this marks an inflection point.

    Answer

    CFO Chris Suh responded that the company does not manage the business to a specific incentive ratio. He emphasized that the primary focus is on growing net revenue and volumes, with incentives being a flexible tool to achieve mutual goals with partners. He noted the level can vary based on the volume of renewals in any given year.

    Ask Fintool Equity Research AI

    Fahed Kunwar's questions to Visa Inc (V) leadership • Q3 2025

    Question

    Fahed Kunwar of Redburn Atlantic asked about the long-term trend of client incentives as a percentage of revenue, noting a recent stabilization around 28% and questioning if this marks an inflection point toward flatter growth.

    Answer

    CFO Chris Suh responded that the company does not manage the business by targeting a specific incentive-to-revenue ratio. He emphasized that the focus is on growing net revenue and volumes in partnership with clients, and incentives are a tool to achieve those mutual goals. He noted the ratio can vary year-to-year based on the volume of renewals and expirations.

    Ask Fintool Equity Research AI

    Fahed Kunwar's questions to Visa Inc (V) leadership • Q3 2025

    Question

    Fahed Kunwar of Redburn Atlantic noted that incentive growth as a percentage of revenue, after rising for a decade, has recently stabilized and asked if this marks a long-term inflection point.

    Answer

    CFO Chris Suh stated that the company does not manage the business to a specific incentive ratio. He emphasized that the primary focus is on growing net revenue and volumes, with incentives being a flexible tool to achieve mutual goals with partners. He noted the level can vary year-to-year based on the volume of renewals and did not signal a permanent inflection.

    Ask Fintool Equity Research AI

    Fahed Kunwar's questions to NatWest Group PLC (NWG) leadership

    Fahed Kunwar's questions to NatWest Group PLC (NWG) leadership • Q1 2024

    Question

    Fahed Kunwar of Redburn Atlantic asked about the outlook for average interest-earning assets. Given the positive momentum in mortgages, unsecured lending, and commercial loans, he questioned whether these assets are expected to grow from their current level throughout the rest of the year.

    Answer

    CFO Katie Murray confirmed that as new mortgage and commercial lending comes onto the books, the group's average interest-earning assets are expected to see some growth from current levels. She pointed to the quarterly data in the presentation, which shows relative stability in recent quarters but acknowledged that new loan growth should drive an increase going forward.

    Ask Fintool Equity Research AI