Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

The rise of impairment costs at <a href="https://www.smartkarma.com/entities/22" target="_blank" data-smartkarma-citation="entities:22:1">DBS Group Holdings Ltd (DBS SP)</a> was necessary and belated. But compared with banks across the region, the amount of provisions taken during 3Q17 is not particularly high. And yet, Singapore banks are arguably the most susceptible to the stresses in oil and gas than other Asian banks. Also, DBS and peer Singapore banks have lower non-performing loan (NPL) coverage than most peers, so that it can not be the case of being extra conservative that drives lower relative…

The rise of impairment costs at DBS Group Holdings Ltd (DBS SP) was necessary and belated. But compared with banks across the region, the amount of provisions taken during 3Q17 is not particularly high. And yet, Singapore banks are arguably the most susceptible to the stresses in oil and gas than other Asian banks. Also, DBS and peer Singapore banks have lower non-performing loan (NPL) coverage than most peers, so that it can not be the case of being extra conservative that drives lower relative…

Latest Surge in Provisions at DBS in Asian Context: They Are Not High

Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

In Today's IssueA Corruption convention, chicken nuggets, rampant growth of corporate market power, Turkish airport passenger growth, reducing packet switching bottlenecks, high tax countries encourage tax havens, 'Emma' helps sign mortgages in Singapore, PBoC governor continues his grumpy man routine, Foreign credit cards are not welcome in China and Brazil's Finance Minister hides his money for charity.<div class="content-highlight">1.  The Conference of the States Parties to the United Nations Convention against Corruption…</div>

In Today's IssueA Corruption convention, chicken nuggets, rampant growth of corporate market power, Turkish airport passenger growth, reducing packet switching bottlenecks, high tax countries encourage tax havens, 'Emma' helps sign mortgages in Singapore, PBoC governor continues his grumpy man routine, Foreign credit cards are not welcome in China and Brazil's Finance Minister hides his money for charity.1.  The Conference of the States Parties to the United Nations Convention against Corruption…

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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Sector Plays in a Rising Interest Rate Environment

Singapore

Oversea-Chinese Banking Corporation Limited offers a comprehensive range of financial services.  The Company's services include deposit-taking, corporate, enterprise and personal lending, international trade financing, investment banking, private banking, treasury, stockbroking, insurance, credit cards, cash management, asset management and other financial and related services.

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OCBC (OCBC SP)

Latest Surge in Provisions at DBS in Asian Context: They Are Not High

The rise of impairment costs at DBS Group Holdings Ltd (DBS SP) was necessary and belated. But compared with banks across the region, the amount of...

Daniel Tabbush

21 Things Worth Knowing (#10)

In Today's IssueA Corruption convention, chicken nuggets, rampant growth of corporate market power, Turkish airport passenger growth, reducing...

Mark Artherton

STI Begins Week at a 27-month High

Singapore Exchange Ltd (SGX)

Sector Plays in a Rising Interest Rate Environment

Singapore Exchange Ltd (SGX)

STI September Quarter Earnings Schedule

Singapore Exchange Ltd (SGX)

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