Banco Santander: Undervalued AT1
Santander’s AT1 is undervalued. There is considerably more upside from these securities than at other globally diversified, and EM-centric,...
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Santander Mexico (BSMXB MM) – Opportunistic Cash Offer for Minorities
Opportunistic offer by Santander for the SanMex minorities, at a c37% discount to the April 2019 all share offer. Activist rejection of offer is...
446 Views
HSBC Holdings Plc –American Result Intimates Group Miss
HSBC HOLDINGS PLC: HSBCNA reported troubling results in 4Q20 - declining 195% linked quarter, as operating costs exceed recurring revenues. This...
575 Views
Bank Credit Weekly: Risk Sentiment Retreats in Asia and US HY Markets
Asia’s high yield market underperformed as risk sentiment in both Asia and the US retreated. US spreads came under pressure following a deluge of...
508 Views
HSBC – Unimpressive
There appears to be a recurring theme with banks, whereby those with high credit costs early in the year relative to recent years, see a marked...
460 Views