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)

For many years now, there has been a perception that the banks of Australia and Canada are similar. This stems from the resource-rich nature of each country.It may also arise from the exceptional long-term credit ratings for both countries: AAA on Fitch and Aaa on Moodys. &nbsp;Of course this was brought to the fore with the onset of the Global Financial Crisis (GFC) in 2008 and followed by many downgrades.&nbsp;Another basis for this may be the fact that the top four banks in each country account for a high 66% (Canada) to 76% (Australia) of total bank system assets. To us though, there remain critical differences that favour Australia, and their banks. First and foremost is public debt to GDP.More below the fold....&nbsp;

For many years now, there has been a perception that the banks of Australia and Canada are similar. This stems from the resource-rich nature of each country.It may also arise from the exceptional long-term credit ratings for both countries: AAA on Fitch and Aaa on Moodys. &nbsp;Of course this was brought to the fore with the onset of the Global Financial Crisis (GFC) in 2008 and followed by many downgrades.&nbsp;Another basis for this may be the fact that the top four banks in each country account for a high 66% (Canada) to 76% (Australia) of total bank system assets. To us though, there remain critical differences that favour Australia, and their banks. First and foremost is public debt to GDP.More below the fold....&nbsp;

Australia's Bank's Fare Well vs. Those in Canada

Canada

The Toronto-Dominion Bank conducts a general banking business through banking branches and offices located throughout Canada and overseas. The Bank and other subsidiaries offer a broad range of banking, advisory services, and discount brokerage to individuals, businesses, financial institutions, governments, and multinational corporations.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Toronto Dominion Bank (TD CN)

Australia's Bank's Fare Well vs. Those in Canada

For many years now, there has been a perception that the banks of Australia and Canada are similar. This stems from the resource-rich nature of...

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)